LAKE MARY, FL, Apr 28, 2025 – Faro has announced its Q1 FY25 results, reporting $83M in revenue – a 11.4% decrease from $94M in Q4 FY24 – with a profit of $0.9M.
First Quarter Financial Highlights
- Total sales of $82.9 million, down 1.6% year over year
- Gross margin of 57.0%, compared to 51.4% in the prior year period
- Operating expenses of $43.4 million, compared to $48.6 million in the prior year period
- Net income of $0.9 million, or $0.05 per share compared to net loss of $7.3 million, or $(0.38) per share in the prior year period
- Adjusted EBITDA of $12.5 million, or 15.0% of total sales compared to $5.6 million, or 6.6% of total sales in the prior year period
- Cash, cash equivalents & short-term investments of $102.6 million compared to $98.7 million as of December 31, 2024
Eight-quarter financial trends: A comparative analysis of Faro’s results“We’re very pleased with our strong start to the year, with our first quarter financial results exceeding our expectations and reflecting the successful execution of our strategic growth initiatives,” said Peter Lau, president & chief executive officer. “Q1 was an inflection point for FARO, with increasing traction from refreshed products, coupled with the introduction of new solutions and the signing of two impactful partnerships contributing to 6% year-over-year net orders growth. As a result, we delivered GAAP net income of $0.9 million and $12.5 million of adjusted EBITDA, or 15.0% of revenue, surpassing our forecasts. As we look ahead, we remain focused on executing our growth strategy, even amidst continued macroeconomic uncertainty. Our recent product launches, including the Leap ST in January for metrology workflows and Blink last week for digital reality workflows, expand our addressable opportunity and we believe position us well to drive sustained, long-term organic growth.”
A detailed chart outlining the financial results is available here, providing a comprehensive breakdown of key metrics and performance indicators for better insight into the company’s financial standing.
About FARO
FARO Technologies, founded in 1981, is a leader in 3D measurement, imaging, and realization solutions. Headquartered in Lake Mary, FL, the company designs and manufactures software-driven, three-dimensional measurement and imaging systems for manufacturing, architecture, engineering, construction, operations and maintenance, and public safety analytics. FARO’s product portfolio encompasses devices like the FaroArm, FARO Laser Tracker, and FARO Laser Scanner, which are utilized for inspection, rapid prototyping, and reverse engineering applications. FARO operates globally with regional headquarters in Stuttgart, Germany, and Singapore, and maintains offices in over 25 countries.