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Faro (FARO)

For 40 years, FARO has provided industry-leading technology solutions that enable customers to quickly and easily 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.

Company profile

Ticker
FARO
Exchange
Website
CEO
Michael Burger
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Antares-Desenvolvimento de Software, Lda. • Cam2 SRL • FARO Benelux BV • FARO Business Technologies India Pvt. Ltd • FARO Cayman LP • FARO Cayman Ltd • FARO Delaware LLC • FARO Europe GmbH • FARO FHN Netherlands Holdings BV • FARO Japan Inc. ...
IRS number
593157093

FARO stock data

Analyst ratings and price targets

Last 3 months

Calendar

3 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 101.97M 101.97M 101.97M 101.97M 101.97M 101.97M
Cash burn (monthly) 1.74M 2.61M 2.99M 1.48M (no burn) 368.92K
Cash used (since last report) 2.73M 4.11M 4.69M 2.33M n/a 579.36K
Cash remaining 99.23M 97.86M 97.28M 99.64M n/a 101.39M
Runway (months of cash) 57.0 37.4 32.6 67.2 n/a 274.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Jul 22 Muhich Allen L. Common Stock Payment of exercise Dispose F No No 30.98 1,022 31.66K 17,241
26 Jul 22 Muhich Allen L. Common Stock Option exercise Acquire M No No 0 3,147 0 18,263
26 Jul 22 Muhich Allen L. RSU Common Stock Option exercise Dispose M No No 0 3,147 0 0
25 Jul 22 Rajani Ramanathan Common Stock Grant Acquire A No No 0 3,189 0 3,189
17 Jun 22 Burger Michael D Common Stock Payment of exercise Dispose F No No 31.23 4,682 146.22K 54,251
17 Jun 22 Burger Michael D Common Stock Option exercise Acquire M No No 0 10,421 0 58,933
17 Jun 22 Burger Michael D RSU Common Stock Option exercise Dispose M No No 0 10,421 0 0
27 May 22 Chin Moonhie Common Stock Grant Acquire A No No 0 5,412 0 5,412
96.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 146 154 -5.2%
Opened positions 15 23 -34.8%
Closed positions 23 10 +130.0%
Increased positions 61 55 +10.9%
Reduced positions 50 46 +8.7%
13F shares Current Prev Q Change
Total value 912.55M 1.97B -53.6%
Total shares 17.57M 17.76M -1.1%
Total puts 0 0
Total calls 94K 38.2K +146.1%
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 3.13M $162.72M -0.2%
Vanguard 2.03M $105.56M +2.4%
Royce & Associates 1.16M $60.14M +7.6%
Segall Bryant & Hamill 913.45K $47.42M +0.0%
Barrow Hanley Mewhinney & Strauss 701.83K $36.44M -1.6%
STT State Street 696.09K $36.14M +3.4%
Paradice Investment Management 633.34K $32.88M -21.7%
Dimensional Fund Advisors 548.67K $28.49M +4.5%
GS Goldman Sachs 539.28K $28M -2.9%
Wellington Management 461.76K $23.98M +18.2%
Largest transactions Shares Bought/sold Change
Paradice Investment Management 633.34K -175.13K -21.7%
Norges Bank 0 -141.63K EXIT
Daventry 0 -118.67K EXIT
DB Deutsche Bank AG - Registered Shares 11.67K -108.4K -90.3%
ARK Investment Management 180.15K +105.95K +142.8%
Allspring Global Investments 208.33K +84.6K +68.4%
Royce & Associates 1.16M +81.36K +7.6%
Wellington Management 461.76K +70.96K +18.2%
Westerly Capital Management 0 -70K EXIT
Eos Focused Equity Management 0 -56.91K EXIT

Financial report summary

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Competition
TrimbleAmetekNikonHexagon ABMatterport
Risks
  • Because a significant portion of our revenues, expenses, and assets are denominated in foreign currencies, we face significant exposure to foreign exchange rate risk.
  • Increases in the cost and constraints in the availability of raw materials or components used in our products could negatively impact our business and profitability.
  • Inflation in the global economy could negatively impact our business and results of operations.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Amounts reported in millions within this Quarterly Report on Form 10-Q are computed based on the amounts in thousands. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Certain columns and rows within the tables that follow may not add due to the use of rounded numbers. Percentages presented are calculated based on the respective amounts in thousands.
  • FARO Technologies, Inc. (“FARO,” the “Company,” “us,” “we” or “our”) has made “forward-looking statements” in this report (within the meaning of the Private Securities Litigation Reform Act of 1995). Statements that are not historical facts or that describe our plans, beliefs, goals, intentions, objectives, projections, expectations, assumptions, strategies, or future events are forward-looking statements. In addition, words such as “may,” “might,” “would,” “will,” “will be,” “future,” “strategy,” “believe,” “plan,” “should,” “could,” “seek,” “expect,” “anticipate,” “intend,” “estimate,” “goal,” “objective,” “project,” “forecast,” “target” and similar words identify forward-looking statements.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
New words: appointment, chain, deploy, desired, economy, housed, Incentive, inflation, intermittent, judgment, Nasdaq, notably, obtained, occupancy, occurrence, proportion, quantity, Rajani, Ramanathan, registered, registration, risen, SANM, Section, speak, vaccine
Removed: Academy, adapt, attendance, education, enabled, half, impacted, infrastructure, learning, March, opportunity, recovery, remotely, system, understand, utilization

Patents

Utility
Projector with three-dimensional measurement device
16 Aug 22
A device and method for projecting a light pattern is provided.
Utility
Upscaling Triangulation Scanner Images to Reduce Noise
11 Aug 22
Examples described herein provide a method that includes performing, by a processing device, using a neural network, pattern recognition on an image to recognize a feature in the image.
Utility
Registration of three-dimensional coordinates measured on interior and exterior portions of an object
9 Aug 22
A dimensional measuring device includes an overview camera and a triangulation scanner.
Utility
Handheld Three-dimensional Coordinate Measuring Device Operatively Coupled to a Mobile Computing Device
28 Jul 22
A handheld device has a projector that projects a pattern of light onto an object, a first camera that captures the projected pattern of light in first images, a second camera that captures the projected pattern of light in second images, a registration camera that captures a succession of third images, one or more processors that determines three-dimensional (3D) coordinates of points on the object based at least in part on the projected pattern, the first images, and the second images, the one or more processors being further operable to register the determined 3D coordinates based at least in part on common features extracted from the succession of third images, and a mobile computing device operably connected to the handheld device and cooperating with the one or more processors, the mobile computing device operable to display the registered 3D coordinates of points.
Utility
Automatic Registration of Multiple Measurement Devices
30 Jun 22
A computer-implemented method is performed by one or more processors to automatically register a plurality of captured data obtained using a respective measurement device, each of the captured data is obtained separately.