LAKE MARY, FL, Nov 3, 2022 – FARO has announced its financial results for the third quarter ended September 30, 2022. Revenue for the third quarter of 2022 was $85.3M, up 6.8% compared to $79.9M for the second quarter of 2022. Net loss was $6.3M.
“Customer demand across our served markets remained healthy, with revenue on a constant currency basis of $91.5 million, increasing 14% year on year and up 9% sequentially. Due to continued strengthening of the US dollar, sales on an actual currency basis were $85.3 million, up 8% compared to the prior year period,” stated Michael Burger, president and chief executive officer. “Together with the building momentum of our recent product releases, the recent acquisition of GeoSLAM and the launch of FARO Sphere for cloud-based 3D model creation and collaboration, we have one of the industry’s most comprehensive suites of digital 3D solutions. I am excited by the early customer response we have received on our combined offerings and the enormous market opportunity represented by digitalizing the physical world.”
A complete chart of the financial results is available here.
About FARO
FARO serves the 3D metrology, AEC (architecture, engineering & construction), O&M (facilities operations & maintenance), and public safety analytics markets. For over 40 years, FARO has provided industry-leading technology solutions that enable customers to digitalize their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven accuracy, precision, and immediacy.
More information is available at www.faro.com.
