Published on 7 Oct 2024 on GuruFocus.com · via Yahoo Finance
Faro Technologies Inc (FARO) Q2 2024 Earnings Call Highlights: Navigating...
Revenue: $82.1 million in Q2 2024, down 7% year-over-year.Non-GAAP Gross Margin: 55%, an increase of 300 basis points sequentially.Non-GAAP Operating Expenses: $40 million, down 9% year-over-year and 2% sequentially.Non-GAAP EPS: $0.18, above the high end of guidance range.Adjusted EBITDA: $8.4 million, or 10.3% of sales.Operating Cash Flow: Positive for the third straight quarter.Hardware Revenue: $50.1 million, down 12% year-over-year.Software Revenue: $11.3 million, up 4% year-over-year.Service Revenue: $20.8 million, up 1% year-over-year.Recurring Revenue: $17.1 million, representing 21% of sales.GAAP Operating Income: $1.8 million in Q2 2024.Non-GAAP Operating Income: $5.1 million in Q2 2024.GAAP Net Loss: $500,000 or $0.03 per share.Non-GAAP Net Income: $3.4 million or $0.18 per share.Cash and Short-term Investments: $97.9 million at the end of the quarter.
Warning! GuruFocus has detected 4 Warning Signs with FARO.