Faro Report First Quarter 2025 Financial Performance
FARO Technologies has announced its financial results for the first quarter ended March 31, 2025.
First Quarter 2025 Financial Summary
- 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 compared to net loss of $7.3 million 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
Regional Revenue Performance
“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.”
For more information: www.faro.com
