FARO Q3 Revenue Flat at $83M with $0.3M Loss

Gross margin of 55.7%; Non-GAAP gross margin 56.1%, above guidance range.

LAKE MARY, FL, Nov 7, 2024 – FARO has announced its financial results for the third quarter ended September 30, 2024. Revenue for the third quarter of 2024 was $82.6M, flat compared to $82.1M for the second quarter ended June 30, 2024. Net loss was $0.3M.

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)
Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

“I am proud of our ongoing progress in profitability, achieving 55.7% gross margins, GAAP net loss of $0.3 million and $8.9 million of adjusted EBITDA, or 10.7% of revenue, all exceeding our expectations for the third quarter. This marks a significant transformation in our operations over the past year, as its the first time that we have delivered back-to-back double-digit quarterly adjusted EBITDA margins in almost a decade,” said Peter Lau, president & chief executive officer. “Looking ahead, we are committed to executing on our growth initiatives, even in a difficult macroeconomic environment. With our recent product launches, including the Quantum X Arm and next generation Focus Premium Max Laser Scanner, we are excited about the actions we are taking to drive organic revenue growth over the longer term.”

A complete chart of the financial results is available here.


For more information about FARO, visit faro.com.