FARO Technologies, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 04:05 pm EST
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FARO Technologies, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 98.84 million compared to USD 103.86 million a year ago. Net income was USD 1.59 million compared to net loss of USD 2.24 million a year ago.
For the full year, revenue was USD 358.83 million compared to USD 345.77 million a year ago. Net loss was USD 56.58 million compared to USD 26.76 million a year ago. Basic loss per share from continuing operations was USD 2.99 compared to USD 1.46 a year ago. Diluted loss per share from continuing operations was USD 2.99 compared to USD 1.46 a year ago.
FARO Technologies, Inc. is a global technology company. The Company designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging, and realization solutions for the manufacturing, architecture, engineering and construction (AEC), operations and maintenance (O&M) and public safety analytics markets. The Company enables its customers to capture, measure, manipulate, interact with and share four-dimensional (4D), 3D and two-dimensional (2D) data from the physical world in a virtual environment and then translate this information back into the physical domain. The Company's FARO suite of 3D products and software solutions are used for inspection of components and assemblies, rapid prototyping, reverse engineering and various others. Its products include FaroArm Portfolio, FARO Laser Tracker, FARO Laser Scanning Portfolio and FARO Mobile Laser Portfolio. Its software includes FARO Sphere XG, CAM2, BuildIT Metrology and BuildIT Projector.
FARO TECHNOLOGIES, INC. 
