LAKE MARY, FL, Feb 16, 2023 – FARO has announced its financial results for the fourth quarter and full year ended December 31, 2022. Revenue for the fourth quarter of 2022 was $103.8M, up 21.8% compared to $85.3M for the third quarter of 2022. Net loss was $2.2M.
“Improving fourth quarter customer demand, with strength in Laser Scanners and the European market, as well as the addition of GeoSLAM resulted in year-on-year revenue growth of 10% to $110.5 million on a constant currency basis. Due to a stronger US dollar relative to last year, sales on an actual currency basis were $103.9 million, up 4% compared to the prior year period,” stated Michael Burger, president and chief executive officer. “With our recent acquisition of SiteScape, which enables iOS based low-resolution LiDAR 3D capture, FARO now offers one of the broadest sets of 3D capture devices and technology in the market. Together with the success of our recent product releases and the launch of FARO Sphere, I am excited by the increasing level of customer engagement and the enormous market opportunity represented by digitalizing the physical world.”
A complete chart of the financial results is available here.
About FARO
For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure 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 reliable accuracy, precision, and immediacy.
More information is available at www.faro.com.
