FARO - FARO Technologies Non-GAAP EPS of -$0.14 beats by $0.26 revenue of $88.2M beats by $6.64M

2023-08-02 16:26:44 ET

• FARO Technologies press release ( NASDAQ: FARO ): Q2 Non-GAAP EPS of -$0.14 beats by $0.26 .
• Revenue of $88.2M (+10.4% Y/Y) beats by $6.64M .
• Adjusted EBITDA of $0.9 million, or 1.0% of total sales compared to an approximate $0.5 million, or 0.6% of total sales in the prior year period
• Cash and short-term investments of $88.5 million, compared to $88.6 million as of March 31, 2023

• Outlook for the Third Quarter 2023

• For the third quarter ending September 30, 2023, FARO currently expects:

• Revenue in the range of $76 to $84 million

• Gross margin in the range of 45% to 47%. Non-GAAP gross margin in the range of 46% to 48%

• Operating expenses in the range of $50.9 to $53.4 million. Non-GAAP operating expenses in the range of $41.0 to $42.5 million

• Net loss per share in the range of ($1.25) to ($0.71). Non-GAAP net loss per share in the range of ($0.35) to ($0.10)

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