a newspaper in El Salvador that has published investigations into the Nayib Bukele administration has claimed that it has “received reliable information that the Salvadoran Attorney General’s Office is preparing arrest warrants for El Faro journalists.” El Faro had recently published a new series of videos reiterating and expanding reporting on Bukele’s negotiations with Salvadoran gangs, something that Bukele has been denying for multiple years.  🚨“We have received reliable information that the Salvadoran Attorney General’s Office is preparing arrest warrants for El Faro journalists,” announces El Faro director @CarlosDada. https://t.co/DazxRWfxXj Read more: El Salvador gets its bitcoin from Bitfinex, raising control concerns “We understand that the alleged crimes for which these warrants are being built are apology for crimes and illicit association Any capture or raid on our homes will be for having done journalism.” Bukele’s administration has previously been willing to detain those critical of his regime often without following the appropriate constitutional processes a technologist and critic of the Bukele administration’s embrace of bitcoin Read more: Bitcoin is no longer legal currency in El Salvador Bukele has recently been collaborating closely with the Trump administration providing his human-rights-abusing prisons for the Trump administration to use to detain individuals many removed and kept away from the United States in explicit violation of court orders Trump has communicated his intention to send United States citizens to these prisons and suggested that he is not a supporter of due process.  This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page The information you submit will be stored and used to communicate with you about your interest in Geo Week. To understand more about how we use and store information, please refer to our privacy policy Geo Week Event FARO Technologies recently announced the launch of the FARO Blink a new reality capture solution delivering quality visualization and streamlined workflows for designers software-driven solution simplifying reality capture through easy data acquisition and automated insights The solution simplifies the process of data capture by offering real-time feedback through live tracking of the scanner location ensuring a quality result without the need for intense training The Sphere XG Digital Reality Platform then takes the data and automatically processes and registers the scans leaving the user with a complete scan project containing high quality images and point clouds The Blink solution complements the existing product line by offering an easy-to- use solution with high photo quality and data accuracy that is good enough for most AECO and geospatial applications FARO can cater to a wide range of users by providing its online automated workflow and allowing Blink users to utilize FARO Technologies’ offline workflows using the FARO SCENE desktop software for more advanced use cases FARO Blink captures HDR color scans in less than 30 s per position with a 3D point accuracy of 4 mm @ 10 m (0.16 in @ 32.8 ft) A dual on-axis HDR camera system with 25 MPx resolution provides 125 MPx raw image resolution The Laser Class 1 scanner offers a 300° vertical / 360° horizontal FoV a range of 0.5 m – 80 m (1.64 ft - 262.5 ft) and up to 50 MPts 3D points per scan.  FARO Blink utilizes the FARO Stream application which gives the user real-time previews of the scan data that has been collected the scanner is tracked in real time as it moves through the environment which allows the user to know at all times where they are currently and where they have been already the Stream app alerts the user when they have moved too far between scan locations and advises where the scanner should be moved to next.  Full data processing and registration tasks in Sphere XG takes additional time but due to the cloud-based platform for these tasks the user’s computer is not tied-up while it happens FARO also has the ability to perform processing and registration in Sphere XG in a reduced amount of time compared to traditional desktop workflows and 3D models can all be consumed within Sphere XG as well exported or downloaded to be used in a variety of different file formats for 3rd party software One differentiator of the FARO Blink is its award-winning design The design of Blink is centralized around simplicity to ensure that it is approachable to newer scanner users The Blink device itself has only one button and capture is guided by the Stream application Making the entire solution user-friendly from capture to deliverable has been paramount 2025 (GLOBE NEWSWIRE) -- FAROÂŽ Technologies a global leader in 4D digital reality solutions today announced its financial results for the first quarter ended March 31 “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 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 we delivered GAAP net income of $0.9 million and $12.5 million of adjusted EBITDA we remain focused on executing our growth strategy even amidst continued macroeconomic uncertainty 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 * A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures is provided in the financial schedules portion at the end of this press release An additional explanation of these measures is included below under the heading “Non-GAAP Financial Measures” A replay webcast will be available in the Investor Relations section of the Company's web site approximately two hours after the conclusion of the call and will remain available for approximately 30 calendar days This press release contains information about our financial results that are not presented in accordance with U.S generally accepted accounting principles (“GAAP”) non-GAAP net income (loss) and non-GAAP net income (loss) per share exclude the impact of purchase accounting intangible amortization expense and are provided to enhance investors’ overall understanding of our historical operations and financial performance which is calculated as net income (loss) before interest (income) expense income tax benefit (expense) and depreciation and amortization as measures of our operating profitability The most directly comparable GAAP measure to EBITDA and Adjusted EBITDA is net income (loss) which is calculated as Adjusted EBITDA as a percent of total sales We have included non-GAAP total sales on a constant currency basis The most directly comparable GAAP measure to total sales on a constant currency basis is total sales We believe constant currency information is useful in analyzing underlying trends in our business and the commercial performance of our products by eliminating the impact of highly volatile fluctuations in foreign currency markets and allows for period-to-period comparisons of our performance we may elect to omit this information in future periods if we determine a lack of material impact current period performance for entities reporting in currencies other than U.S dollars at the exchange rate in effect during the last day of the prior comparable period Management believes that these non-GAAP financial measures provide investors with relevant period-to-period comparisons of our core operations using the same methodology that management employs in its review of the Company’s operating results These financial measures are not recognized terms under GAAP and should not be considered in isolation or as a substitute for a measure of financial performance prepared in accordance with GAAP These non-GAAP financial measures have limitations that should be considered before using these measures to evaluate a company’s financial performance may not be comparable to similarly titled measures of other companies due to varying methods of calculation The financial statement tables that accompany this press release include a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties such as statements about the outlook for the second quarter of 2025 demand for and customer acceptance of FARO’s products FARO’s product development and product launches strategic and restructuring plans and initiatives including but not limited to the additional restructuring charges expected to be incurred in connection with our restructuring and integration plans and the timing and amount of cost savings and other benefits expected to be realized from the restructuring and integration plans and other strategic initiatives and FARO’s growth potential and profitability Statements that are not historical facts or that describe the Company's plans words such as “is,” “will” and similar expressions or discussions of FARO’s plans or other intentions identify forward-looking statements Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks and other factors that may cause actual results or achievements to differ materially from future results or achievements expressed or implied by such forward-looking statements undue reliance should not be placed on these forward-looking statements.Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include Forward-looking statements in this release represent the Company’s judgment as of the date of this release The Company undertakes no obligation to update publicly any forward-looking statements FARO Technologies, Inc.Matthew Horwath, Chief Financial Officer+1 407-562-5005IR@faro.com Sapphire Investor Relations, LLCMichael Funari or Erica Mannion+1 617-542-6180IR@faro.com from the non-GAAP financial measures because the Company believes that such exclusion provides a better comparison of results of ongoing operations for current and future periods with such results from past periods our Board of Directors approved a global restructuring plan (the “Restructuring Plan”) which is intended to support our strategic plan in an effort to improve operating performance and ensure that we are appropriately structured and resourced to deliver increased and sustainable value to our shareholders and customers our Board of Directors approved an integration plan (the “Integration Plan”) which is intended to streamline and simplify operations particularly around our recent acquisitions and the resulting redundant operations and offerings The Restructuring and other costs primarily consist of severance and related benefits Substantially all of our planned activities under the Restructuring Plan and the Integration Plan are complete our Board of Directors approved a restructuring plan (the “2024 Restructuring Plan”) which is intended to support its strategic plan in an effort to improve operating performance and streamline and simplify operations particularly around our redundant operations and underperforming countries primarily driven by economic and demand challenges in the manufacturing and construction sectors (3) The Income tax effect of non-GAAP adjustments is calculated by applying a statutory tax rate to Non-GAAP adjustments and Purchase accounting intangible amortization and fair value adjustments when estimating our Non-GAAP income tax rate we exclude the impact of items that impact our reported income tax rate that we do not believe are representative of our ongoing operating results including the impact of valuation allowances we are currently recording in certain jurisdictions and certain discrete items such as adjustments to uncertain tax position reserves as these items are difficult to predict and can impact our effective income tax rate Other tax adjustments during the three months ended March 31 2025 were comprised of $0.6 million related to the impact of valuation allowance adjustments and $0.5 million related to other items including equity based compensation book to tax differences non-GAAP adjustments impact on Global intangible low-taxed income and Prepaid tax on intercompany profit 2024 were comprised of $2.7 million related to the impact of valuation allowance adjustments (2) Calculated as Adjusted EBITDA as a percentage of total sales (1) Regions represent North America and South America (“Americas”); Europe and Africa (“EMEA”); and the Asia-Pacific (“APAC”) (2) We compare the change in the sales from one period to another period using constant currency disclosure We present constant currency information to provide a framework for assessing how our underlying business performed excluding the effect of foreign currency rate fluctuations current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rate in effect during the last day of the prior comparable period rather than the actual exchange rates in effect during the respective periods (3) Recurring revenue is comprised of hardware service contracts and subscription based software applications our Board of Directors approved the Integration Plan The Restructuring and other costs primarily consist of severance and related benefits associated with the Restructuring Plan Gago Coutinho Airport (formerly Faro Airport) serves the southern Portuguese city of Faro capital of the tourism heavy Algarve Province The airport is the gateway the surrounding region which features a number of major holiday destinations and as such is highly seasonal with heavy operations during the summer months The airport is operated by ANA Aeroportos de Portugal under concession to VINCI Airports All data relates to w/c April 28 2025 unless stated and was provided by OAG Schedules Analyser and CAPA - Centre for Aviation Find out more about CAPA membership. insight and analysis from our award-winning editors delivered to your inbox daily Funchal, Madeira Unsplash Emma Donaldson 5 May 2025 9:00Portugal has once again proven itself a leading destination for those seeking a healthier According to the latest European Cities Air Quality Visualiser Faro and Funchal have been ranked 3rd and 8th respectively out of 375 European cities for their exceptionally clean air Published by the European Environment Agency the European Cities Air Quality Visualiser offers a detailed ranking of urban air quality across Europe using data from over 500 monitoring stations Cities are assessed based on levels of fine particulate matter (PM2.5) Only 13 cities in the entire survey recorded PM2.5 levels below the World Health Organisation’s health-based reference level of 5 micrograms per cubic metre — a benchmark both Faro and Funchal have impressively met This achievement is particularly significant given that Portugal stands out as the only southern European country with cities featured in the top 20 for cleanest air The next southern European city on the list highlighting Portugal’s unique environmental advantage in the region For those prioritising well being, clean air is a critical factor. The high rankings of Faro, located in the Algarve, and Funchal on the island of Madeira, not only underline Portugal’s commitment to environmental quality but also enhance its appeal as a destination for healthy living, travel, and investment. The best hikes in Portugal: trails you can’t miss Portugal may be famous for its golden beaches and historic cities but it’s also a dream destination for hikers From rugged coastal paths to mountain adventures Portugal offers trails for every level of experience here’s your guide to the best hikes in Portugal has entered a new category of handheld scanning with the launch of Faro Leap STÂŽ The new handheld solution expands the company’s product portfolio making Faro one of the few companies offering customers a complete range of portable 3D metrology devices It strengthens Faro’s presence across the manufacturing sector Faro paired this launch with an update to its Faro CAM2ÂŽ Software for a simple and effective way to scan parts www.faro.com You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days issues and challenges that they face daily Design, CMS, Hosting & Web Development :: ePublishing A replay of the webcast will be available in the Investor Relations section of the company's web site approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days all while ensuring intuitive operation to unlock quicker and more valuable insights “Blink is a ground-breaking innovation designed to break down the barriers to 3D data facilitating better insights from job sites through straightforward and user-friendly workflows,” said FARO President & CEO Peter J “By automating complex tasks and prioritizing simplicity we’ve developed a cost-effective solution that enables anyone to achieve professional-quality data insights The release further expands our product set and addressable market and is a continuation of our commitment to developing innovative technology that makes a real difference to how our customers work.” The new reality capture solution delivers quality visualization and streamlined workflows for designers Its modern design – already winning prestigious recognition including the Red Dot Design Award and taking home the silver at the New York Design Awards – and effortless functionality allow teams to easily capture and geospatial markets with a new tool designed to streamline data processing and analysis for everyone from project managers and surveyors to 3D scanning service providers Blink by FARO Technologies is now available in all regions Our #1 AI Stock Pick is on a steep discount - 29.99$ instead of 99.99$! Click here to access exclusive research FARO Technologies, Inc. (NASDAQ:FARO) Q1 2025 Earnings Call Transcript April 24 and welcome to the FARO Technologies First Quarter 2025 Earnings Call I will now turn the call over to Michael Funari at Sapphire Investor Relations President and Chief Executive Officer and Matt Horwath the company released its financial results for the first quarter of 2025 The related press release is available on FARO’s website at www.faro.com Please note certain statements in this conference call may be considered forward-looking statements that involve risks and uncertainties and include statements regarding future business results economic and industry projections or subsequent events Various factors could cause actual results to differ materially For a more detailed description of these and other risks and uncertainties please refer to today’s press release and our annual and quarterly SEC filings Forward-looking statements reflect our views only as of today and except as required by law we undertake no obligation to update or revise them management will discuss certain financial measures that are not presented in accordance with US Generally Accepted Accounting Principles or non-GAAP financial measures you’ll find additional disclosures regarding these non-GAAP measures including reconciliations to comparable GAAP measures management believes these non-GAAP financial measures provide investors with relevant period-to-period comparisons of core operations they should not be considered in isolation or as a substitute for a measure of financial performance prepared in accordance with GAAP Now I’d like to turn the call over to Peter Lau Good morning and welcome everyone to our call which was in the upper end of our guidance range which was above the high end of our guidance range and non-GAAP operating expenses were $38.5 million which was at the low end of our guidance range which was above the high end of our guidance range the highest Q1 in our history and represented the eighth straight quarter of exceeding our expectations Operating cash flow was again positive in the quarter representing our sixth straight quarter of operating cash flow generation we spoke at length about the three phases of FARO’s strategy to create shareholder value by focusing on our core business The first phase was centered around the operational excellence to rebuild our financial base and execute a strategic reset to align the company towards a more sustainable winning trajectory The second phase was to capitalize on the strong operating leverage we built into the business in phase one by focusing on organic growth that is underpinned by high probability low investment growth factors that are tightly aligned with our core strengths The third phase of our growth strategy is focused on the outer years As we continue to strengthen our net cash position higher reward organic and inorganic investments that are within or closely adjacent to our core we’re accomplishing everything that we set out to do and more It was another outstanding operating quarter for our team here at FARO Our continued commitment to 80:20 within our operations enabled non-GAAP gross margins of 57.7% expanding 590 basis points year-over-year and proudly for us 25 basis points sequentially above our seasonally strong fourth quarter $12.5 million of EBITDA in the first quarter represents 840 basis points of year-over-year expansion and an impressive 124% year-over-year growth we are squarely on pace to meet or exceed our 2025 objectives and our long-term aspirational model We expect our phase one operational excellence initiatives to remain ongoing and we continue to identify opportunities to further expand EBITDA and consistently generate positive earnings and cash flow Our objective is to remain disciplined in our approach to capital allocation and continue to be prudent with cash and cash-based investments our revenue performance was largely dictated by broader market conditions we had prioritized our phase one initiatives and strategically reoriented our teams and their activities to take a focused 80:20 approach to seed our phase two organic growth factors the growth factors we identified during this phase were to refresh our existing portfolio to drive market leadership and customer refresh cycles; to launch new products to increase our addressable opportunity by $800 million in the next three years; and to develop global partnerships to drive further scale and reach for the FARO business I’m quite pleased to report that Q1 was an inflection point for our business as we saw many of these phase two opportunities contribute to our performance and despite an unforeseen deterioration in the macro in Q1 due to tariff policy our net orders in the first quarter grew by 6% year-over-year which gives us more confidence as we continue through the year in the first quarter the underlying market remains similarly difficult to Q4 with incremental deterioration and strengthening between geographies although the Americas was not as strong as expected and the United States as tariff-related uncertainty from the January This was partially offset by the underlying economy in Europe strengthening and we started to turn the corner with a return to growth in Asia and in China in particular Matt will talk more about how we see Q2 playing out when we explain guidance in just a few minutes The other offset was our phase two growth factors We’ve had a very busy six months in terms of our product refresh initiatives we had three major releases in the fourth quarter A new and improved arm with Quantum X making it the most accurate arm in the market which have the longest range on the market and our Orbis Mobile Scanner with the best SLAM and data quality on the market we had two major software launches with CAM2 All of these launches are seeing strong early traction accelerating customer upgrades and contributing to our first quarter performance The positive uptake we’ve seen thus far reinforces our conviction that product refreshes are an important lever in both defending and expanding our market position Moving to our initiatives to expand the addressable opportunity that FARO serves we successfully launched Leap ST to the market and the receptivity has exceeded our expectations our teams generated meaningful revenue from this handheld metrology tool and the pipeline of opportunities that we’ve created so far has exceeded our expectations We look forward to converting those opportunities into revenue in the coming quarters last week we launched FARO Blink to the market a ground-breaking software-led solution with a scanner and 360 degree camera combination designed to democratize the global scanning market Blink automates the complex process of capturing 3D models and delivering insights through our SphereXG Cloud platform with just the touch of a button Blink delivers high quality scans and insights without requiring the expertise of an experienced operator The Blink solution will be sold by us as a hardware and a software bundle and so far we began global training with our sellers and our global channel network while also conducting private demonstrations for select end users under NDA and the early reception has exceeded expectations with close to $1 million in pre-orders ahead of the launch We’re one year into our three year journey we’ve now executed on over 60% of our SAM expansion target With a revamped new product strategy and our expectation of more launches in the coming quarters and years ahead we feel really good about the pace of our product launches and the receptivity they’re gaining in the market To help put our new product launch cadence into perspective between our core refresh initiatives and our SAM expansion strategy we’ve now had seven major product launches in the last six months That’s more than we did over almost five of the previous years combined It’s a clear testament to our strategy of strengthening our core and how applying 80:20 principles is allowing us to deliver more impactful solutions in a more efficient manner We will continue to stay committed to accelerating innovation and investing in solutions growth our partnership growth vector continues to show great promise in January we signed two major global partnership agreements each expected to contribute low eight figures in revenue on an annual basis one of those partnerships has already begun to contribute to our orders and revenue with both partnerships expected to contribute to our order book in the second quarter The partnership on our Digital Reality solutions is off and running with the Topcon product being launched to their customers in April the metrology partnership and product launch is not yet publicly announced and we don’t expect that partner to announce until the fourth quarter of this year we’re actively managing a handful of other promising new partnership opportunities in addition to expansion of more solution into the existing partnerships We hope to announce either another new meaningful partnership or a meaningful expansion to an existing partnership still this year We feel comfortable that we’ve established appropriate swim lanes with these partnerships and expect them all to be win-win scenarios for all parties we’re accomplishing everything that we set out to do across all three growth vectors with more opportunities still to come in our pipeline I want to address the topic currently on everyone’s mind and the expected impacts we believe that tariff policy will have on FARO’s business I want to start by reminding folks about a few key points related to FARO FARO’s business model is attractive and that approximately one-third of our revenue comes from software and localized services FARO has extremely high contribution margins So we believe the effect of tariffs on our cost of goods sold is manageable; and third only approximately 40% of our revenue runs to the United States we manufacture all of our hardware in Thailand the rough framework would be revenue multiplied by the percent of our business that’s hardware multiplied by the percent of cost of goods sold in our contribution margin multiplied by the percent of our business shipped to The United States multiplied by the percent tariff rate for Thailand a 36% reciprocal tariff on Thailand at our current revenue has about a $9 million impact to gross margin If we then add some of the accessories we source from other countries the total impact comes to $10 million or 2.9% of our 2024 revenue If the final reciprocal tariff rate on Thailand remains 36% we would expect to cover the full impact with a low-single-digit price increase given the 10% blanket tariffs currently in place we enacted a 1% price increase to cover the impact as we await the conclusion of negotiations While we’re unsure now of the final outcome post negotiations we’ve already analyzed our business We have the infrastructure in place to go live with a price increase within two days once we know the final rate In terms of our ability to pass along price we generally feel positive about it as our products are high-tech at a relatively low capital equipment price point we’ll continue to monitor the health of the market and review our discount rates daily to control potential price leakage we’re actively assessing the option to repatriate US bound portion of our production to the US in a strategic move to mitigate long-term exposure we already have 11 localized service centers around the world that service our installed base equipment daily all of these centers already have all of the necessary equipment to manufacture and test our products and we believe we can stand up localized manufacturing in the United States in less than six months with minimal to no investment we’ll be able to complete our modeling on items like tariffs and shipping costs on components between various countries that determine the economic viability of localization this would be in addition to the price increase that we intend to execute to fully offset the gross margin dollar impacts we’re already taking action where possible today we ship all of our goods for sales in Latin America through the United States and we’re working with Sanmina to change that process Sanmina will ship directly to our entities in Latin America further reducing our tariff base from 40% of revenue to approximately 30% of revenue which will reduce the total impact of tariffs this will be in addition to the price increase to fully offset the gross margin impact we’ll continue to monitor the broader demand environment but so far demand is outpacing Q1 and approximately flat to the prior year As our products are lower capital cost solutions and often required to run customers’ facilities we believe the near-term demand impacts of the broader macro may be more muted for us than larger capital projects like building new product lines we’ve evaluated several demand sensitivities and already have cost reduction plans in place to preserve cash and profitability for each of these scenarios we have plans in place ready to execute once we have clarity on the final tariff rates and believe we’re well prepared to continue to create the kind of shareholder that you’ve come to expect from us across multiple different scenarios in the short-term we believe that tariffs may become a net positive for our business as companies accelerate near shoring initiatives and look to diversify their supply chains we feel very well prepared for multiple direct and indirect tariffs related to scenarios and we’re extremely pleased with how we’ve started 2025 All metrics exceeded our expectations and we’re beginning to see the results of the groundwork laid on our phase two growth factors through new product introductions and expanded strategic partnerships With even more opportunities in the pipeline we’re confident in the strength of our strategy our business model and our ability to drive continued shareholder value and above market revenue growth I am going to turn the call over to Matt to provide an overview of our first quarter financial results and an in-depth second quarter outlook First quarter revenue of $82.9 million was down 2% versus prior year the Americas and European regions were down 3% and 1% respectively revenue was up year-over-year for the first time since Q2 2023 we built some backlog in the first quarter GAAP gross margin was 57% and non-GAAP gross margin was 57.7% for the first quarter of 2025 we continued to see year-over-year productivity gains driven by our ongoing supply chain localization efforts as well as nominal contributions from price increases launched at the start of the year non-GAAP gross margin increased over 25 basis points sequentially versus our seasonally strong Q4 and marks the highest quarterly level since 2018 GAAP operating expenses were $43.4 million and included $4.4 million in acquisition-related intangible amortization and stock compensation expenses and $513,000 in restructuring and other costs Non-GAAP operating expense of $38.5 million was down $2.2 million from Q1 last year as we continue to realize productivity improvements and a benefit from the restructuring program implemented in Q4 of last year it is our intention to reinvest some of those savings in higher growth regions throughout 2025 we will continue to look for productivity opportunities GAAP operating income was $3.8 million in the first quarter of 2025 compared with an operating loss of $5.3 million in the first quarter of 2024 Non-GAAP operating income was $9.3 million in the first quarter of 2025 compared to $3 million in the first quarter of 2024 Adjusted EBITDA was $12.5 million or 15% of sales compared to $5.6 million in the first quarter of 2024 Our GAAP net income was $906,000 or $0.05 per share Our non-GAAP net income was $6.4 million or $0.33 per share for the first quarter of 2025 compared to approximately $1.7 million or $0.09 per share in Q12024 Our cash and short-term investment balance at the end of the quarter was $102.6 million we continued to execute on our collections and working capital initiatives and based on current market conditions we expect positive adjusted free cash flow for 2025 It is clear that the broader macro environment remains choppy largely due to the uncertainty around tariff policy which we expect to continue and ultimately affect other regions across the world I want to provide more details than normal to our Q2 guidance given the current environment Given the current uncertainty around the ongoing tariff policy discussions we expect to see the market continue to worsen in Q2 we are assuming that the market for our hardware revenue to be down 10% year-over-year We expect our operating expense to rise at current foreign exchange rates and we expect there to be some negative impact of tariff costs in our gross margins we have a lot of opportunities resulting from the strong strategic execution Peter discussed earlier we expect a normal mid-single-digit increase in seasonality from Q1 to Q2 independent of the broader macro environment We have our previously announced partnerships that will contribute to Q2 revenue We are forecasting an acceleration from Leap that we launched in late January and we launched Blink last week and receptivity has been very strong We have the seven new product refreshes that we launched over the last six months and we expect foreign exchange to be a tailwind to revenue at current rates we implemented an incremental 1% price increase in April and as Peter mentioned we have an attractive business model that has approximately one-third in reoccurring revenue from our software and service businesses that provides us with good visibility and high confidence into a meaningful portion of our revenue we have built some backlog in the first quarter that we believe helped solidify our outlook for Q2 we have our localization program continuing to deliver incremental benefits the January and April price increases and benefits from current foreign exchange rates versus Q1 we’re taking immediate action and planning in this uncertain environment we believe it’s prudent to remain thoughtful and measured as we set expectations we expect that the 10% year-over-year decline in the hardware market will be largely offset by the normal seasonality and contributions from our growth initiatives we expect second quarter revenue of between $79 million and $87 million which represents a nominal year-over-year growth rate at the midpoint and given our strong Q1 operating baseline and the puts and takes I just outlined corresponding non-GAAP gross margin between 57% and 58.5% and non-GAAP operating expenses of between $38.5 million and $40.5 million we would expect non-GAAP earnings per share ranging from $0.20 per share to $0.40 per share for second quarter profitability we’d be pleased to take your questions [Operator Instructions] And your first question comes from the line of Jim Ricchiuti with Needham & Company Just a question as to how you’re thinking about the hardware business shaping up for Q2 where I’m going with this is historically FARO has gotten a larger slug of revenues late in the quarter And so when we think about what occurred in Q1 have you seen enough information and data to get you comfortable with that kind of a scenario because I’m trying to understand what you’re seeing from customers across your major verticals and also if you could where you’re seeing more noticeable changes in tone or expectations just going back to Q1 and you’re right see a lot of bookings and billings at the end of the quarter and we saw that in March of this year And we mentioned that we saw specifically in the US and Mexico and Canada we feel pretty good about our phase two growth vectors and it really able to help us offset Q1 so far and it’s early days in April we’re seeing about what we saw last year and frankly we’re quite a bit ahead of what we saw our pacing in Q1 what we’re seeing so far does not correlate to a down 10% in the hardware market even though we’re not seeing that quite yet in April in Q2 and so if we continue on the pace that we’re going and we don’t see the down 10 we think that opportunity then would be against the guidance to be closer to the higher half of that guidance range cautionary we want to make sure that we don’t stick our head in the sand and we’re prepared for a down 10 in the hardware market in case it does show up like it did show up in Q1 in the Americas we feel generally pretty comfortable with the guide I think in terms of what we’re seeing is I think around the world that deals are going to get done but we are seeing like we saw in Q1 some people delay purchases and Again because we’ve built that really into the calculus for our second quarter guide And with respect to new products and the potential for that to be a tailwind for you guys is that – are you thinking more along the lines of that being a bigger tailwind all else being equal on the macro side in the second half as opposed to Q2 Or how much I guess where I’m going is how with this is how much of a tailwind is it in Q2 in the quarter we’re in right now Leap happened in late January and obviously there is some time that it takes to get our teams enabled and customers demoing those products we only really had two months in the first quarter not all three months and then if you throw in another four to six weeks of kind of getting up to speed we really didn’t see a lot from Leap in Q1 or as much as we would expect then cycling into Q2 we launched Blink and we’ve revamped our product launch process such that we’re in a position now to be under NDA to be really kind of enabling our salespeople and our partners and end-users and we got close to $1 million of pre-orders from Blink before we even launched it although LEAP contributed to Q1 in a somewhat meaningful way we expect acceleration from Leap and new Blink and thus our new products kind of as we cycle into Q2 and hopefully then for the rest of the year Operator: [Operator Instructions] And you will have your next question from Greg Palm with Craig-Hallum Capital Group I’d like to think I’m getting sick of congratulating you guys but what you’ve been able to accomplish over the last Greg Palm : I’d like to just dig in a little bit more in kind of what you’re seeing And I’m not sure if we can just break it apart from kind of the core business and new products but everybody is worried about the macro environment and tariffs and slowdown and what and it doesn’t sound like you’re necessarily seeing any change in behavior but just give us a little bit more like by end-market just exactly what you’re seeing out there We did see it in Q1 and particularly in the first quarter in places like Mexico Canada and then towards the end of the quarter If you kind of think through that and then back to the timeline of some of the tariff announcements Canada and Mexico were almost immediate at the January and we saw a slowdown obviously with some of the auto and the steel related tariffs we kind of saw it begin to accelerate in March our biggest end-market is just general manufacturing and that seems to be holding in there fairly well Aerospace and defense for us seems to be holding in there fairly well I would say uncertainty in automotive and so we’re seeing not just the big autos really just kind of taking a careful and a cautious approach to the uncertainty and what could be the future I would say that tariffs are going to be largely negotiated and there’s going to be a good outcome in these 90 days are expecting or we are forecasting or we are planning for a 10% hardware down market in Q2 But there’s definitely a possibility that it happens we’re already looking at strategies to repatriate some of our production move around our global supply chain such that we’re shipping direct to Latin America We’ve got a couple of sensitivities on demand and what we would do from a cost standpoint to deliver – to continue to deliver positive cash flow and earnings can happen and we’re planning for anything to happen and in a bunch of different scenarios and we’ll look to we’ll look to continue to what I would say Germany is a good example of automotive hasn’t been strong there in the last couple of years and we’ve pivoted a lot of our sales activities to defense and aerospace and general manufacturing and we had a good result doing that in the first quarter we’ll continue to look for the pockets of the market that are strong and pivot our demand generation and our sales efforts into – we’ll follow the money both from an end-market standpoint And I think we can all appreciate the prudent approach in this time And I’m curious as it relates to the order growth can you just – was it I just want to make sure I’m clear on this Was it a lot of sort of last minute revenue Was it building more of a backlog for second half deliveries because you obviously didn’t the book to bill over one and it doesn’t imply like you’re going to ship it in Q2 So I’m just kind of curious where those orders are going to fall in terms of the revenue generation It wasn’t like we meant to build backlog We – sometimes when orders come in late When your forecasts aren’t perfect and you’ve got a lot of different configurations for your products we see the second quarter again off to a decent start it’s we are not counting on shipping down the backlog We are implicit in our guide as a one to one book to bill we did build a little bit of backlog and as Matt said in the comments helps solidify kind of our outlook on Q2 even if the market deteriorates a little more than what we are already expecting And just last one in terms of the partnership So it sounds like a product has already launched with Topcon I was – one of the things on my mind was just the environment we’re in with the uncertainty Does it delay any of the product launches or partnerships But it doesn’t sound like that’s the case So maybe you can just confirm that and – yeah the first question you would ask yourself is does it delay if our partners are delivering more new products to their partners as they think about it as a growth opportunity and as we think about it from expanding the partnership we actually think maybe a down market would accelerate the desire of our partners to deliver more new products to their customers we’ll see how these things go again we want to be thoughtful and measured around the partnerships make sure that we have the right swim lanes make sure that they’re win-wins for all partners I generally tend to think that most companies would say more products launched to their customers is a net good thing And it appears that we have no further questions at this time I will now turn the program back to Peter Lau for closing remarks on behalf of all of our colleagues at FARO I want to thank all of you for your interest we continue to exceed our targets in all areas and we’re very excited about our progress Our first quarter performance demonstrates the operational leverage that we’ve already built into the business with gross margins profitability and cash flow all tracking ahead of plan Our success so far gives us confidence as we continue to execute on the organic growth initiatives in the quarters ahead that we believe we’ll be in a position to unlock short and long-term shareholder value We look forward to sharing more about our progress and execution in the quarters ahead Thank you very much again for your interest in FARO This concludes today’s presentation Artificial intelligence is the greatest investment opportunity of our lifetime The time to invest in groundbreaking AI is now My #1 AI stock pick delivered solid gains since the beginning of 2025 while popular AI stocks like NVDA and AVGO lost around 25% The numbers speak for themselves: while 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Edwards can be reached at sally.edwards@thecrimson.com. Follow her on X @sallyedwards04 or on Threads @sally_edwards06 —Staff writer Asher J. Montgomery can be reached at asher.montgomery@thecrimson.com. Follow her on X @asherjmont or on Threads @asher_montgomery Want to keep up with breaking news? Subscribe to our email newsletter. 3D Printing Top Workplaces Industry News Blink streamlines data processing for construction FARO Technologies, Inc. has introduced FARO Blink, a software-driven 3D reality capture solution designed to simplify data collection and processing. Integrated with the FARO Sphere XG Digital Reality Platform Blink offers visualization tools and automated workflows to support more efficient project execution For more information, visit faro.com. a popular spot in Portugal’s Algarve region the tax will help the city improve infrastructure and protect the environment to better handle its large number of visitors This change was decided by the Algarve Municipalities Association (AMAL) Faro used to charge a seasonal tourist tax of €1.50 per night from March to October. Now, the rate is €2 per night during the high season (March to October) and €1 per night in the low season (November to February) The tax applies to adults aged 16 and older staying in hotels with a maximum charge for seven nights per stay The new tax covers most tourists but makes exceptions for certain groups are exempt during the school year if they show proof of enrollment Visitors receiving medical treatment in Faro are also exempt if they provide valid medical documents and security professionals on long-term assignments Residents of Faro who book local accommodations are also excluded if they can prove residency These exemptions aim to make the tax fair by considering those visiting for essential reasons (Image courtesy of Diego Delso via Wikimedia Commons) Faro and other towns in Portugal’s Algarve region are using tourist taxes to fund local projects Money from the tax will go toward protecting the environment The Algarve, famous for its natural beauty and popular with tourists, has seen steady growth in visitors, with 13.1 million tourists arriving in Portugal from January to August 2024—a 6.7% increase over last year the tax helps keep Faro a welcoming and well-kept destination for the future Visitors to Faro should plan for this year-round tourist tax in their budgets Frequent travelers to the European Union (EU) may see similar taxes in other destinations as Europe increasingly looks to fund local projects through tourism The upcoming European Travel Information and Authorization System (ETIAS) will make it easier to enter the Schengen Area travelers may encounter similar tax systems elsewhere this tax shows the city’s focus on sustainable tourism and community needs and residents reflect Faro’s commitment to supporting both local residents and temporary visitors without adding extra financial strain (Image courtesy of Thomas Fluegge via iStock) Faro’s new tax policy reflects a growing EU focus on sustainable tourism and managing visitor impact Faro and other towns emphasize that visitors help support local communities Other high-tourism EU cities may follow suit seeing tourism not just as an economic boost but also as a way to fund social and environmental projects This approach highlights the EU’s commitment to building local resilience in popular areas setting an example for sustainable tourism across member states Faro’s year-round tourist tax shows a proactive approach to keeping the city attractive and sustainable this policy may inspire similar measures across Portugal and in other popular destinations aiming to meet environmental and infrastructure needs tourists will know their contributions help the city stay a top European destination Terms of Use|Privacy Policy images or other representation of this site is prohibited and copyright violators will be pursued legally to the full extent of the law A renovated lighthouse on the Bay of Biscay is the perfect base for exploring Asturias’s maritime delights The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. I have always longed to be a lighthouse keeper and now Feel the waterproof weave of my Donegal tweed cap I am way too toasty in this quasi-nautical ensemble calm and warm on an early spring afternoon in the famously pretty fishing village of Cudillero in Asturias where the Costa Verde of northern Spain drops away into the deep blue Bay of Biscay The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. the local lighthouse – the Faro de Cudillero – stands on a shelf of rock just beyond the harbour a short walk up stone steps and along a narrow cliff side service path Its hexagonal beacon tower has been remodelled a few times over the years The signal lamp inside was first fuelled by olive oil before being electrified and eventually automated its sturdy keeper’s cottage was left derelict decades ago and the general obsolescence of the role itself converted and partitioned into two loft-style holiday apartments by the German company Floatel which specialises in this kind of repurposing Staying for a couple of nights with my girlfriend and our six-year-old daughter in the Farero suite I find the interior much plusher and airier than whatever salty quarters I might have imagined The interior is much plusher and airier than the salty quarters I might have imaginedWe’ve got heated floors and a Nordic timber whirlpool bath with bench seats while pretending to be a 19th-century lighthouse family mystified by modern luxuries Large flanking windows look east and west to sunrise and sunset and tripping the sensors and flipping the switch I expected a search beam to shoot from the lantern room and sweep the bay in whooshing gyres but this light is programmed for a sequence of static flashes known as “occultations” it’s like an eye that opens for one long stare followed by three short blinks to represent the letter “B” in international morse code but that letter was already taken by CandĂĄs another coastal beacon about 30 miles due east The plush interior of the apartment was a welcome surprise Photograph: Javir Parilla/FloatelI learn all this and more back inside by the fireplace and the bookshelves support a small library of lighthouse-related literature Between novels by Virginia Woolf and Jules Verne are historical journals and photographic surveys that reference this site in particular cloudy Asturian cider to a decent mid-range Spanish red I read how ancient mariners set signal fires more or less where I’m sitting and may have lured a few ships in to wreck and plunder on these rocks no defining loss of local menfolk in the unforgiving Cantabrian Sea An Italian cargo vessel called the Amelia C (en route from Newcastle upon Tyne to Venice) sank just offshore in 1877 though it seems the lighthouse keeper mobilised the village for a rescue effort but now I discover the sublime and fathomless comfort that comes of drifting off beside your family in the belly of such a refuge between the winking lantern and the sighing sea So here we are asleep and dreaming in “lighthouse world” as Floatel co-founder Tim Wittenbecher described it when I spoke to him on the phone Cudillero is renowned for high quality seafood Photograph: Raul Garcia Herrera/Alamy“A lighthouse is the most purely positive structure we can think of,” Wittenbecher told me “It has only good associations.” He discovered just how many people feel this way 20 years ago when he and his wife turned a ruined beacon into a guest house on the Baltic Sea Hundreds responded immediately to their first online ad and their pet project became a business model it has since entered public-private agreements to take over the empty lodgings of lighthouses in spots from Ischia in the Gulf of Naples to La Palma in the Canary Islands “They are always in super-attractive positions romantic and mostly quite abandoned areas,” said Wittenbecher though it’s not as far removed from civilisation as some others in his portfolio and is close enough to the village that it once served double-duty as the local schoolhouse romantic areasIt is also handy enough for the present housekeeper to bring us breakfast the next morning – a wicker basket full of pastries A single gull hovers at the window to watch us eat shaking a fist and quoting one of her own favourite books which forms a kind of amphitheatre in the tight arc of the adjoining cove with steep vertical staircases and narrow lateral lane-ways stitched between tiers of brightly painted houses Some have strips of curadillo hung outside – dried sharkskin that’s been a totem around here since the days when fishers used the rough flesh to polish their boats and ate it when they couldn’t catch much else made with salt cod hauled from the cold waters below The writer’s family and family walked at Playa del Silencio Photograph: Herraez/Getty ImagesCudillero fishmonger Manolo FernĂĄndez supplies every restaurant in the vicinity “The quality of the produce is the same in each place,” FernĂĄndez assures me at his shop beside the port “The only difference is the chef.” He’s quick to laugh but also prone to lamentation “This used to be a real seafaring village,” says FernĂĄndez “I remember 230 boats out there; now we’re down to about 30.” This shop has been in his family for three generations and almost a century As he cheerfully lists the reasons why – supermarkets the climate crisis – it occurs to me that I’d forgotten all those worries while staying at the lighthouse and ahead of us: salvation for sailors in trouble and watch our little girl sit cross-legged in a sunbeam on the windowsill scanning the horizon for mermaids and orcas with the house binoculars this will be a bright spot in my memory – a signal light out of the distant past Accommodation was provided by Floatel which has two two-person apartments at the Cudillero Lighthouse from €190 or €290 a night B&B; the entire lighthouse sleeps four and can be rented from €480 a night B&B (four nights for the price of three FARO Technologies (Nasdaq: FARO) announced it will release its first quarter 2025 financial results before market open on Thursday The company will host a conference call at 8:00 am ET on the same day featuring President and CEO Peter Lau and SVP/CFO Matthew Horwath Participants can join the call by dialing +1 800-245-3047 (U.S.) or +1 203-518-9765 (International) using passcode FARO A live webcast will be available on FARO's Investor Relations website with a replay accessible for approximately 30 days after the call FARO Technologies (Nasdaq: FARO) ha annunciato che pubblicherĂ  i risultati finanziari del primo trimestre 2025 prima dell'apertura dei mercati giovedĂŹ 24 aprile 2025 La societĂ  terrĂ  una conference call alle 8:00 ET dello stesso giorno con la partecipazione del Presidente e CEO Peter Lau e del SVP/CFO Matthew Horwath I partecipanti potranno unirsi alla chiamata componendo il numero +1 800-245-3047 (USA) o +1 203-518-9765 (internazionale) utilizzando il codice di accesso FARO Una diretta webcast sarĂ  disponibile sul sito web delle Relazioni con gli Investitori di FARO con la possibilitĂ  di rivederla per circa 30 giorni dopo la chiamata FARO Technologies (Nasdaq: FARO) anunciĂł que publicarĂĄ sus resultados financieros del primer trimestre de 2025 antes de la apertura del mercado el jueves 24 de abril de 2025 La empresa realizarĂĄ una conferencia telefĂłnica a las 8:00 am ET del mismo dĂ­a con la participaciĂłn del presidente y CEO Peter Lau y el SVP/CFO Matthew Horwath Los participantes podrĂĄn unirse a la llamada marcando +1 800-245-3047 (EE.UU.) o +1 203-518-9765 (internacional) usando el cĂłdigo de acceso FARO HabrĂĄ una transmisiĂłn en vivo disponible en el sitio web de Relaciones con Inversionistas de FARO con la opciĂłn de reproducirla durante aproximadamente 30 dĂ­as despuĂŠs de la llamada FARO Technologies (나스닥: FARO)는 2025년 4월 24일 목요일 시장 개장 전에 2025년 1분기 재무 실적을 발표할 예정입니다 같은 날 오전 8시(동부시간)에 Peter Lau 사장 겸 CEO와 Matthew Horwath SVP/CFO가 참여하는 컨퍼런스 콜이 진행됩니다 참여자는 미꾭 내 +1 800-245-3047 또는 해외 +1 203-518-9765 번호로 접속 코드 FARO뼟 사용해 전화 회의에 참여할 수 있습니다 FARO Technologies (Nasdaq : FARO) a annoncĂŠ qu'elle publiera ses rĂŠsultats financiers du premier trimestre 2025 avant l'ouverture des marchĂŠs L'entreprise tiendra une confĂŠrence tĂŠlĂŠphonique Ă  8h00 ET le mĂŞme jour animĂŠe par le prĂŠsident-directeur gĂŠnĂŠral Peter Lau et le SVP/CFO Matthew Horwath Les participants pourront rejoindre l'appel en composant le +1 800-245-3047 (États-Unis) ou le +1 203-518-9765 (international) avec le code d'accès FARO Un webcast en direct sera disponible sur le site des Relations Investisseurs de FARO avec une rediffusion accessible pendant environ 30 jours après l'appel FARO Technologies (Nasdaq: FARO) gab bekannt dass das Unternehmen seine Finanzergebnisse fĂźr das erste Quartal 2025 am Donnerstag Am selben Tag um 8:00 Uhr ET findet eine Telefonkonferenz mit Präsident und CEO Peter Lau sowie SVP/CFO Matthew Horwath statt Teilnehmer kĂśnnen sich Ăźber die Nummer +1 800-245-3047 (USA) oder +1 203-518-9765 (international) mit dem Zugangscode FARO einwählen Ein Live-Webcast wird auf der Investor-Relations-Website von FARO verfĂźgbar sein mit einer Wiedergabeoption fĂźr etwa 30 Tage nach der Konferenz Already have an account? Login Topcon Corporation and FARO Technologies have entered a strategic partnership to develop and distribute laser-scanning technology solutions The collaboration aims to expand access to advanced digital reality tools and result in complementary product developments such as integrating Topcon and Sokkia systems with FARO products The initiative focuses on advancing laser-scanning technologies across key sectors building information modeling and industrial plant and process applications the companies plan to enhance software integration and develop joint product solutions to address user needs more effectively subscribe to GPS World to receive more articles just like it Topcon and Faro have announced a strategic agreement to ‘develop and distribute innovative solutions’ in the laser scanning market The companies expect the agreement to expand access to digital reality solutions and result in complementary product developments such as the seamless integration of Topcon and Sokkia solutions with Faro’s solutions The collaboration will focus on harnessing the companies’ collective expertise in laser scanning technologies and industrial plant and process applications we are confident that the solutions we provide will be further enhanced and contribute to overcoming the challenges our customers face,” said Tetsuya Morita “By leveraging the expertise and technological capabilities of both companies we will offer more comprehensive reality capture solutions.” “We believe our collaboration with Topcon is an exciting step in making Faro’s state-of-the-art reality capture solutions more widely accessible,” said Peter J “With Topcon’s established distribution channels and expertise in delivering geospatial solutions professionals around the world will have access to the best tools to enhance productivity Faro and Topcon plan to introduce initiatives to further the collaboration including product offerings and enhanced software integrations Image caption: pictured from left: Ewout Korpershoek and Tetsuya Morita with Topcon and Murray Lodge and Luc Le Maire with Topcon Newsletter • FREE digital magazine • print magazine Lake Mary, Florida | March 18, 2025- FARO® Technologies, Inc. has unveiled significant enhancements to its FARO Zone software suite FARO Zone 3D now offers three distinct packages This new package features capabilities such as integrated point cloud registration and a data-agnostic approach allowing for data integration from various sources The release aligns with recent changes to FARO's hardware offerings, which include significant upgrades to its terrestrial laser scanner in the FARO Focus range and the introduction of the SLAM-enabled FARO Orbis Premium Improvements to both its hardware and software packages indicate that FARO views advanced scanning technology and enhanced data insights as key elements for the future of public safety “The updates to FARO Zone represent a leap forward for professionals tasked with crime and crash scene analysis,” said Gregory Lepere Vice President of Product Marketing at FARO “With a strong focus on user-centric innovation this release enhances investigative accuracy while simplifying complex workflows and legal professionals with the most powerful tools to deliver precise and reliable reconstructions.” Designed to empower public safety professionals FARO Zone 2025 introduces cutting-edge capabilities that ensure precision Additional changes to the interface and process automation also enhance efficiency and usability precisely targeting the needs of crime and crash reconstructionists FARO Zone’s latest release is available today and can be purchased directly through FARO or authorized distributors. For more information, visit www.faro.com For more than 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. For more information, visit www.faro.com. Source: Press Release New arm series increases accuracy and boosts user confidence with probing and scanning designed to improve manufacturing efficiency in a configurable and scalable solution The Quantum X Series offers an up to 15% increase in accuracy compared to previous Quantum Max FaroArms "The Quantum X Series unlocks a range of 3D metrology opportunities for the manufacturing sector," FARO President & CEO Peter Lau said "We are excited about this latest addition to our 3D metrology portfolio; it is another step forward in the technology we helped pioneer FARO is setting the performance bar high to help our customers stay at the forefront of their industries." The series includes FaroArms designed to meet various manufacturing needs including quality control and product design Different versions are available in 5 lengths each offering varying degrees of usability for greater flexibility When paired with the compatible FARO 8-Axis Max integrated rotary worktable Using FARO's range of Laser Line Probes (LLPs) users can easily convert the contact probe arm into a non-contact scanning arm and swap between LLPs without requiring recalibration and customers can book a demonstration on FARO.com (Nasdaq: FARO) has launched the next generation in the FARO Focus 3D Laser Scanner portfolio today announced its financial results for the second.. Computer & Electronics New Products & Services Do not sell or share my personal information: LAKE MARY, Fla., Nov. 6, 2024 /PRNewswire/ -- FAROÂŽ Technologies, Inc. (Nasdaq: FARO) today announced its financial results for the third quarter ended September 30 "I am proud of our ongoing progress in profitability GAAP net loss of $0.3 million and $8.9 million of adjusted EBITDA all exceeding our expectations for the third quarter This marks a significant transformation in our operations over the past year as its the first time that we have delivered back-to-back double-digit quarterly adjusted EBITDA margins in almost a decade," said Peter Lau we are committed to executing on our growth initiatives even in a difficult macroeconomic environment including the Quantum X Arm and next generation Focus Premium Max Laser Scanner we are excited about the actions we are taking to drive organic revenue growth over the longer term." An additional explanation of these measures is included below under the heading "Non-GAAP Financial Measures" Outlook for the Fourth Quarter 2024For the fourth quarter ending December 31 Non-GAAP Financial MeasuresThis press release contains information about our financial results that are not presented in accordance with U.S generally accepted accounting principles ("GAAP") and are provided to enhance investors' overall understanding of our historical operations and financial performance Management believes that these non-GAAP financial measures provide investors with relevant period-to-period comparisons of our core operations using the same methodology that management employs in its review of the Company's operating results These non-GAAP financial measures have limitations that should be considered before using these measures to evaluate a company's financial performance Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties such as statements about the outlook for the fourth quarter of 2024 demand for and customer acceptance of FARO's products FARO's product development and product launches and FARO's growth potential and profitability words such as "is," "will" and similar expressions or discussions of FARO's plans or other intentions identify forward-looking statements undue reliance should not be placed on these forward-looking statements Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include Forward-looking statements in this release represent the Company's judgment as of the date of this release CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS $            61,461 $            66,911 $          186,309 $          199,754 $               (289) $            (8,756) $            (8,080) $          (58,165) $              (0.02) $              (0.46) $              (0.42) $              (3.08) $                 88,913 $                 76,787 $               489,630 $               504,692 $                 30,438 $                 27,404 Current portion of unearned service revenues Unearned service revenues - less current portion Income taxes payable - less current portion at cost - 1,961,898 and 1,374,561 shares held Total liabilities and shareholders' equity CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Adjustments to reconcile net loss to net cash used in operating activities: Deferred income tax (benefit) and other non-cash charges Provision for excess and obsolete inventory Amortization of debt discount and issuance costs Change in operating assets and liabilities: Net cash provided by (used in) operating activities Net cash provided by (used in) investing activities Proceeds from issuance of 5.50% Convertible Senior Notes Repayment of 5.50% Convertible Senior Notes Payment of contingent consideration for business acquisition Net cash (used in) provided by financing activities Effect of exchange rate changes on cash and cash equivalents $            88,913 $            79,919 $        45,976 $        41,674 $        46,357 $        42,410 $        34,041 $        37,970 Purchase accounting intangible amortization $        31,900 $        33,719 $        95,608 $          9,771 $          8,188 $        28,628 $        32,568 $          8,157 $          7,863 $        25,149 $        29,433 $        43,812 $        48,600 Non-GAAP adjustments to operating expenses $        40,057 $        41,530 $          2,164 $        (6,926) $        (1,396) $          6,300 $              881 $        14,402 $            (289) $        (8,756) $        (8,080) Income tax effect of non-GAAP adjustments (3) $          3,995 $              457 $          9,047 $           (0.02) $           (0.46) $           (0.42) $           (3.08) Non-GAAP net income (loss) per share - Diluted $             0.21 $             0.03 $             0.47 $           (0.92) our Board of Directors approved a global restructuring plan (the "Restructuring Plan") our Board of Directors approved an integration plan (the "Integration Plan") The Income tax effect of non-GAAP adjustments is calculated by applying a statutory tax rate to Non-GAAP adjustments Other tax adjustments during the nine months ended September 30 2024 were comprised of $4.4 million related to the impact of valuation allowance adjustments and $0.5 million related to other discrete items During the three months ended September 30 Other tax adjustments were comprised of $0.8 million related to the impact of valuation allowance adjustments and $0.2 million related to other discrete items 2023 were comprised of $11.2 million related to the impact of valuation allowance adjustments and $6.5 million related to other items Other tax adjustments were comprised of $2.0 million related to the impact of valuation allowance adjustments and $1.4 million related to other items RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA $          8,853 $          3,520 $        22,855 $        (9,225) our Board of Directors approved the Restructuring Plan Calculated as Adjusted EBITDA as a percentage of total sales Total sales to external customers as reported $          40,353 $          41,033 $        117,748 $        124,734 $          82,563 $          86,813 $        248,892 $        259,991 Total sales to external customers in constant currency (2) $          40,707 $          40,879 $        118,126 $        124,682 $          81,482 $          85,716 $        246,694 $        256,179 Regions represent North America and South America ("Americas"); Europe and Africa ("EMEA"); and the Asia-Pacific ("APAC") We compare the change in the sales from one period to another period using constant currency disclosure $        50,301 $        55,706 $        82,563 $        86,813 $        17,431 $        17,056 $        51,287 $        50,137 Recurring revenue as a percentage of total sales Recurring revenue is comprised of hardware service contracts $              2,568 $            (4,373) $            13,355 $          (17,580) $               (390) $               (253) $              8,074 $          (16,653) RECONCILIATION OF OUTLOOK - GAAP TO NON-GAAP today announced that after market close on Wednesday,.. today announced the appointment of Phillip Delnick to lead FARO's global sales .. Earnings Earnings Earnings Forecasts & Projections energetic and accomplished leader who made a significant impact on the people and companies he worked for and with Here, CompositesWorld looks back on the life we found in Lo Faro a rare combination of engineering expertise and passionate leadership that fostered deep respect for his work about the promise of composite materials and He leaves behind colleagues and customers profoundly impacted by his service to the industry had known about composite materials and manufacturing from a relatively young age primarily through his interest in space travel and the U.S it wasn’t until the late 1990s that Lo Faro first entered the composites industry he was offered a position in ICI Fiberite’s industrial trainee program in education in Sicily sponsored by the company molding compounds and thermoplastic materials with particular focus on aerospace applications ICI sold its Fiberite business to competitor Cytec Lo Faro joined Cytec in 1998 at the company’s facility in Wilton Maskell says one of the first projects he put Lo Faro on revolved around polymer chemistry — not an obvious fit given Lo Faro’s engineering education Maskell wanted to see what Lo Faro could do The project involved an experiment that the chemists on staff at Cytec said could not be done “was tenacious enough to make it work he recognized in Lo Faro two other attributes that he took quick advantage of Lo Faro was highly adaptable and willing to try new things — new technologies Maskell started embedding Lo Faro within customer facilities to kick off application engineering projects Lo Faro transitioned into a full-time role at Cytec Maskell says that as his working relationship with Lo Faro evolved Lo Faro’s business acumen became more apparent and more valuable Maskell tended to focus on academic and technical responsibilities while Lo Faro handled customer-facing responsibilities It was during this time that Maskell began to see Lo Faro’s interpersonal skills more clearly “Carmelo was always willing to display his honest openness,” Maskell says “If he didn’t know the answer to something he would admit it — and then find the answer Also working for Cytec at the time was Patricia Harrison currently head of business operations at Syensqo She was in a business development role at the time but had a background as a chemist She first met Lo Faro via Maskell when Lo Faro joined Cytec as an intern “Rob always introduced the new scientists and engineers,” Harrison says This guy was different in all the right ways.” Harrison says Lo Faro earned a reputation for challenging the status quo and aggressively seeking innovative solutions to vexing challenges “Carmelo had no chains,” she says “He was a challenger and he was outspoken He was often sent in to address the most difficult problems with our most important customers We would not have gotten as far as we did without him.” One of those challenging products was Cytec’s Priform an epoxy hardener in fiber form that dissolved on contact with epoxy Lo Faro was tasked with working out tooling solutions for Priform how it might be applied and the manufacturing process best suited for it (RTM all of this was done not as an R&T project but a real-life parts manufacturing process “It was about how to make parts,” Maskell says This was not a pilot project and required significant Cytec investment.” Another person who met Lo Faro in his very early days Doyle is currently VP of the composites material business for Syensqo and does commercial front-end demand management and other customer-facing work for the company Doyle says he first met Lo Faro in 1998-1999 — before Doyle joined Cytec — at the Swiss Federal Technology Institute of Lausanne (EPFL) when Lo Faro “came barging in” holding a tray that contained a new resin system — one Lo Faro had named after his wife “He was so enthusiastic and ambitious,” Doyle says He loved his family and he loved his work.” where he worked with Lo Faro doing application engineering “We literally worked side-by-side for 15 years,” Doyle says “We were the first application engineers that Cytec had and we did everything together I think I spent more time with him than my wife and parents combined.” Doyle adds: “Carmelo always had great ideas — especially for aerospace applications — and had the ability to sell them he would sell it and then I stepped in with a team of colleagues to make it happen An example of this Doyle points to was when Cytec endeavored to become a second-source supplier of primary structure prepreg for the Boeing 777X nobody believed that was possible,” Doyle says “We were up against some unusual forces in that case So that’s an example of the kind of idea that I think only somebody like him can turn what would be more of a dream for most people he still finds himself looking at problems challenges and ideas through a Lo Faro lens “Not a day goes by that I don’t think about how Carmelo would think or do or say or feel about a certain situation. And I don’t know if that’s me or him or what but it makes me look at the topic in a clear Lo Faro earned a series of promotions up the ladder and into other Cytec facilities including the company’s manufacturing plant in Wrexham “He was intensely loyal,” Maskell says He and I remained very close throughout his career.” we’ll all be working for you someday.” She was right It was at Wrexham that Lo Faro’s people skills became     more prominent The Wrexham facility produces resin systems adhesives and other chemical components of composite materials Lo Faro was tasked with a variety of jobs that took him all over the plant interacting not just with other engineers and management personnel but the workers themselves managing the machinery and materials Maskell says Lo Faro’s gregariousness and outgoing nature helped him make quick friends with everyone “for stopping to talk to everyone in the facility And then he remembered them and when he saw them again This was highly unusual and highly appreciated by everyone he worked with.” Lo Faro himself references this in a 2020 interview on a CW Talks podcast: “I have a simple belief that your knowledge matters a lot less than your attitude and your behaviors whenever we have people that have demonstrated the right behaviors I think we can put these people on almost every project.” Another of Lo Faro’s close colleagues was Eddy Depase currently head of marketing and NBD at Syensqo Depase says he met Lo Faro a few times before 2009 Depase was working at Boeing and was approached by Carmelo to discuss employment opportunities at Cytec He was on vacation when he got a call from Lo Faro “He offered me a job,” Depase says Carmelo’s vision and attitude made me reconsider and it was the best decision for me He had a  way of bringing people together and I wanted to be a part of that.” Depase was hired into the Applications group he discovered a quality of Lo Faro’s that was cherished and not often recognized “Carmelo’s leadership style was to delegate and that’s something I really appreciated,” Depase says There’s a fine balance to this type of management style.” Depase also echoes the sentiment others shared about Lo Faro’s connection to colleagues “He always had time for his employees,” adds Depase Even when he was president of an organization of thousands of people I want to talk to you’ or ‘I want to touch base with you.’ Within that same afternoon he would find time to call me Depase and Doyle agreed that Lo Faro’s enthusiasm for an idea or a project or a mission was contagious and empowering “A lot of people that were part of his teams would have gone through a wall for him,” Depase says “It was a combination of his personality you felt that he valued your opinion and that he listened to your opinion That made me incredibly proud when he would ask my opinion Lo Faro worked across other Cytec facilities in Europe but still interacting with customers and other Cytec employees It was during this time that he first intersected with Bill Wood Wood says that although Lo Faro was still relatively young he’d already made a name for himself within the company Wood was not prepared to be as impressed as he was by Lo Faro Wood says he brought to the company a rare combination of curiosity energy and pure likeability that made everyone want to be part of what he was doing “What really impressed me about him was not just his intellectual capability and his capabilities in R&T but he was just so curious and so interested,” Wood says “He just wanted to understand the industry And then underpinning was just this infectious energy people just wanted to be a part of his team — just wanted to be a part of the projects he was working on.” a reluctance by the supplier to own mistakes that impact the customer and the customer’s product He says Cytec was not immune to that tendency from time to time Cytec had someone who wasn’t just passionate about composite materials And seeing them succeed meant being willing to acknowledge when they failed and taking the steps necessary to make them work “I’ll give you a generic example,” Wood says “Let’s say you have a major customer experiencing a significant performance problem with your product You might be able to help the customer tweak the process to solve the immediate problem But there’s almost always an underlying cause that sometimes goes unaddressed He would find a way to get all of us on board dealing with the customer directly and honestly about the problem He would give us the best chance to work through the challenge with them but it’s the kind of work that engenders great trust with the customer And that’s the kind of trust Carmelo helped Cytec earn.” He asked Lo Faro to join him there as VP of technology earning his MBA from the Thunderbird School of International Management at Arizona State University Cytec expanded its manufacturing and technology footprint with the acquisition of Umeco This put Lo Faro in contact with a new group of composites professionals currently marketing communications director at Syensqo who handled communications at Umeco and then assumed the same role at Cytec She first met Lo Faro in July 2012 in a series of meetings designed to integrate Umeco and harmonize the communication strategies of the newly joined companies “These meetings were uncomfortable and odd you know — you are being acquired by a competitor It’s not an easy feeling,” Michel remembers. “But in comes Carmelo happy and showing interest in meeting new people He was clearly senior and a decision maker yet very approachable from the very start He was unlike anyone I’d ever met. Years later I was surprised to hear that he remembered that was the first time we met and his impression of me then.” Michel worked with Lo Faro throughout the next 12 years and enjoyed a relationship with him that was unlike any other they had in their professional life: “I felt lucky to get to work with him and to have his trust for my insights in how the sites were doing and he involved me in strategic projects to lead on communication aspects sharing advice and guidance as a senior company colleague and as a friend And I know he did the same for many others He told me that each day he would first answer customer emails then colleagues and then everybody else.” Carmelo believed in communication — and valued the opportunity to communicate internally to foster the right culture and mindset. “Over the years I learned to think the way he thought and speak the way he did as I was writing many of his internal memos,” Michel continues “This became critical during COVID-19 when I helped him stay close to his employees — teammates as he called them — through written and video messages “Everyone genuinely liked and respected him because he was so earnest and passionate — about composites “I considered him a friend and cherished any interaction I had with him Cytec was acquired by Solvay and became Solvay Composite Materials Wood retired and Lo Faro was promoted to president of Solvay Composite Materials Lo Faro was extremely well known for his customer interactions and relationships particularly in the aerospace and defense end markets Lo Faro became famous for advancing new ideas building teams to bring those innovations to market for which Syensqo is a primary material supplier Department of Defense (DOD) consultant who has worked for more than 30 years on development of composite structures for major aircraft programs supporting the U.S and first intersected with Lo Faro around 2011 was making decisions about future materials needs and Hendrix was tasked with aligning Cytec with those needs Lo Faro’s increasing roles with Cytec put him in more frequent contact with Hendrix Hendrix says Lo Faro was always keenly interested in how Solvay could do more to support DOD programs “He really was a patriot of his adopted country in the U.S He recognized that freedom comes at a cost and he was very keen on making sure that Solvay supported the defense business even though in the grand scheme of things defense business is not near as big as the commercial aircraft business He knew that not every decision was a dollars and cents money decision and he was very good and very supportive of doing things that were incredibly helpful to the DOD side of the business.” This philosophy turned into a desire Lo Faro developed to do the “right” thing even if that right thing was not optimal for Solvay “And that may not have been what Cytec’s contract called for,” Hendrix says “He wasn’t the type who would say The contract says this is what I have to do You’re asking me to do something more so I’m not going to do it.’ If it was the right thing to do Carmelo was always supportive and doing the right thing.” Lo Faro’s deep connection with his colleagues was apparent even to Hendrix “You don’t always see that level of connectedness in leaders,” Hendrix says “Particularly as you get to higher levels of the organization Sometimes leaders tend to lose touch with the everyday workers So those are just sort of some of the things that I think made him special and unique.” Also part of Lo Faro’s deep history is Vincent D’Arienzo currently a Technical Fellow at Bell Helicopter D’Arienzo and Lo Faro first met when Lo Faro was still in his Ph.D but they maintained a professional and personal relationship throughout Lo Faro’s career D’Arienzo’s first impression was that Lo Faro was extremely bright and fast learner but he soon discovered deeper and more significant talents D’Arienzo describes Lo Faro as a “whole person,” someone who shared openly his business and encouraged those he worked with to do the same visionary thinker who valued personal relationships above all else “He would take the time to talk to you personally about your personal life your career and then the business side came in,” D’Arienzo says If he knew you had a personal issue coming or something happening in your personal life D’Arienzo also notes that as Lo Faro rose through the ranks at Cytec and began to manage the company’s R&T efforts he faced significant obstacles for which he seemed to be uniquely equipped to handle although Cytec was a carbon fiber producer the company was compelled to work cooperatively with other fiber manufacturers which was a strong suit of Lo Faro’s it was Lo Faro’s European connections that opened doors for the company there “put Cytec on the map” and created the relationships that led especially after Lo Faro became president of Solvay Composites Materials “Carmelo was not confined to short-term goals and quarterly financial targets and the Wall Street Model He was always thinking long term and planning for a future that many of us could not yet see.” D’Arienzo very much respected how transparent Lo Faro was “He was so focused on solutions and on helping the customer,” he says ‘We need you to work with us to solve this problem.’ Whatever it is But he wanted to find the cause of the challenge And he would ask you to work on that with him There was sort of a transparency with Carmelo that a lot of suppliers just don’t often provide.” Lo Faro’s leadership created opportunities that are in short supply in the composites industry “Carmelo was a bridge-builder,” D’Arienzo says technologies — in other markets and applications and encouraged people like me to look for ways to apply those in other ways he brought companies together that don’t normally work together I watched him put together companies that don’t even talk to each other in the same room to work together.” Another colleague from the OEM community is Jeff Carpenter senior director raw material supply chain at Boeing Commercial Aircraft Carpenter first met Lo Faro around 2011 at a Boeing Supplier Conference in San Diego Carpenter was new to his job at the time and was highly sought after by suppliers attending the event Carpenter says there was one person — Lo Faro — who was most persistent “Really persistent.” On top of that Lo Faro did not want to meet at the conference itself “I'm sitting outside in the little dining area on the sidewalk with a little fence around it,” Carpenter remembers “And I see this nicely dressed guy looking around ‘Are you Carmelo?’ He hops over the fence That was my introduction to Carmelo.” struck him right away about Lo Faro: First “Perhaps more so than anyone I’ve ever known in the aerospace supply chain,” Carpenter notes he didn’t want to meet in a business environment He wanted to have some quiet time over a meal Carpenter got to know and appreciate the strengths that Lo Faro brought to Boeing “Boeing has a really very special tactical relationship with our three carbon fiber suppliers Hexcel and Syensqo [Solvay became Syensqo in 2024],” Carpenter notes “This is the kind of relationship that involves our chief technology officers And Carmelo and his team were very personally engaged in these relationships he and they would come out and meet people like John Tracy Carmelo made sure he had a sort of personal thumbprint on the key or big projects That was a level of involvement we did not always get from a lot of leaders.” The relationship Lo Faro established with Boeing culminated in 2022 with Solvay being named a Boeing Supplier of the Year Carpenter says Solvay won that award not because Solvay excelled but because Lo Faro had created an environment in which a failure was turned into a success for a customer “Solvay was actually performing badly,” Carpenter says “because of supply chain shortages post-COVID Getting base chemicals was just difficult for everybody Solvay was not immune to that and they were suffering Let’s work together.’ He was totally transparent I was on the phone with suppliers I’ve never heard of trying to help Solvay find magic chemical number four or input thing number two And Solvay got the award because of their transparency Most of the suppliers we work with are like Let me just work it out and I’ll get back to you.’ That was not Carmelo.” he hopes that everyone — composites professionals and the Lo Faro family — can understand and appreciate that there is not a single Boeing aircraft that does not make use of a Syensqo material And we have Carmelo to thank for much of that.” There is one person who stands out because he was not only a customer of Syensqo and Lo Faro a Fellow at Boeing and worked on development of composite materials and processes for primary structures for military and commercial programs Bond recalls meeting Lo Faro for the first time in the mid-2010s at a SAMPE conference He was standing outside a ballroom after listening to the keynote speaker when Lo Faro walked up and introduced himself “I had heard his name and I kind of knew who he was from my Boeing colleagues,” Bond says He just had that ability to connect with people and make you feel like you were his best friend and that you’ve known him for years but he just made you feel like he had a deep long relationship with you and was very interested in the stuff you had to say.” One of the key materials that Bond and Lo Faro worked on was development of a resin system that would come to be called 5320-1 funded through a DARPA program called Non Autoclave Manufacturing Technology Bond was the principal investigator on the program and saw the material become a baseline resin system for many composite defense applications Bond left Boeing in late 2020 and a month later joined Solvay in part because of Lo Faro’s influence and Lo Faro often sought Bond’s input on new materials “One of the things that I really respected about Carmelo was that although he was very smart he recognized that he was better and smarter when he was surrounded by good people,” Bond recalls “And so he would reach out to people to get their perspective on stuff to get their input He was not afraid to draw on other people's expertise.” One of Bond’s comments into Lo Faro’s modus operandi revolved around a strategy pilots use when executing flying maneuvers ‘slow is smooth and smooth is fast.’ The idea is that instead of making sudden changes to the control inputs and that ends up being a faster way to get there Convey that to your people that we’re going to get there but we’re not going to make these huge sudden changes We’re going to do this deliberately and it’s going to end up being faster for us.’ Carmelo jumped all over that and he really bought into it he was very open to other people’s inputs and willing to listen That was one of the things I really enjoyed about my relationship with Carmelo.” Bond left Solvay to join RTX affiliate Pratt & Whitney (P&W) Lo Faro surprised the composites community at large by joining Bond at RTX and almost immediately after This occurred just prior to Solvay’s demerger which moved the company’s composites business into a new entity called Syensqo Bond says Lo Faro’s early days at P&W were a challenge they threw him into one of the toughest positions which was the powdered nickel metal problem that some turbines had,” says Bond but I think they recognized his leadership abilities and that he was the right guy for the job I think it was an extremely high-stress job he attacked it with passion and jumped right in He just wanted to learn everything he possibly could about the issues both from a technical standpoint as well as how to work with the airlines and how to best convey what we are doing from a safety standpoint.” had this to say about Lo Faro’s brief tenure at the company: “He purposely split his time between visiting key sites and meeting with members of the team on an individual basis He went to great lengths to learn more about our people and our purpose His experience and intentional leadership helped remove barriers and better positioned us for success in our efforts to recover the GTF program Carmelo challenged us to build trust and relationships across various teams within the company He instilled a structure and cadence to tiered engagement with our team that drove focus on the resources needed by the team to accomplish the mission His passion for our team and our purpose was evident in every engagement Lo Faro’s 2020 CW Talks interview finishes with an answer to a question about curiosity and innovation “It's been a long time since I was a child myself — I believe that children are inherently extremely curious; children are extremely excited by exploring and by solving problems Every single day I’ve worked in this business has been the ability to do that so what I really would like is that we help our children discover or rediscover that Be excited about seeing a spaceship going to the moon being excited about the engine of a fighter jet being excited about having a plane that you can pilot from your room That’s something that I believe will provide inspiration And I think it is our job to inspire the younger generation and have them understand that the answers to humanity’s problems are going to be [found] through science and technology Lo Faro himself references this in a 2020 interview on a CW Talks podcast: “I have a simple belief that your knowledge matters a lot less than your attitude and your behaviors receiving a Boeing Supplier of the Year Award for Solvay in 2022 Carmelo Lo Faro was an avid soccer (football) fan and in his spare time refereed youth soccer matches. Source | Patricia Harrison at a ribbon-cutting ceremony at the National Institute for Aviation Research (NIAR) at Wichita State University Syensqo has a lab at NIAR. Source | Syensqo Faro International Airport serves the southern Portuguese city of Faro unless stated and was provided by OAG Schedules Analyser and CAPA - Centre for Aviation The hits just kept coming for El Faro, with three burglaries occurring in a little over a week, and now owner Raymunda Ramirez tells Mission Local that she’s selling off her Folsom Street business was an employee of the taqueria for 20 years before leading the business as owner for the last 25 years “I don’t want to sell it after all this time,” Ramirez says “but it’s difficult living with the constant thought if someone is gonna do it again.” Ramirez told the news outlet that her decision to sell is final and that she’ll look for new El Faro owners over the next year or so New FARO Focus Premium Max leads refreshed lineup LAKE MARY, Fla., Oct. 15, 2024 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO) has launched the next generation in the FARO Focus 3D Laser Scanner portfolio The Focus product line offers a complete 3D laser scanning solution delivering a more efficient experience from data capture to insights extends the portfolio's scanning range to 400 meters enabling users to gather data from large outdoor environments FARO also simplified the full Focus portfolio enabling all users to reduce scanning time by up to 50% through the Hybrid Reality Capture™ powered by Flash Technology solution included in each model Flash Technology is the first-of-its-kind workflow that combines the accuracy of a terrestrial laser scanner with the speed of a panoramic camera "Through listening to valuable customer feedback we've made some significant changes to the entire capture to insights workflow customers who need more extensive range capabilities and faster data collection times can feel confident in their data capture," said FARO President & CEO Peter J "This refreshed lineup gives existing and new customers more flexibility in choosing a solution that equips them with accurate data and actionable insights keeping the Focus lineup at the forefront of laser scanning." FARO has also extended the scanning ranges of its existing Focus portfolio including the Premium and Core laser scanners The portfolio provides a 3D reality capture solution suitable for construction aiming to improve workflow efficiency in an intuitive hardware-software package provides real-time feedback on pre-registered scans to improve efficiency on-site Data can be optionally uploaded to FARO Sphere XG for comprehensive analysis along with the Focus Core and Focus Premium (Nasdaq: FARO) has announced the release of the Quantum X FaroArm Series of portable coordinate measurement machines Computer Software Computer Software Texas — The Austin Fire Department responded to a structure fire apartment this morning at an apartment complex fire officials responded to call of a fire at 1500 Faro Drive and the flames mainly impacted the outside of the apartment building and the porch area Fire officials have asked that people avoid the area AFD is currently still at the scene with fire investigators Topcon Corp. has partnered with Faro Technologies on laser scanning The agreement includes efforts to develop and distribute digital reality solutions and complementary product developments such as the seamless integration of Topcon and Sokkia solutions with FARO’s solutions The collaboration will focus on leveraging the companies’ collective expertise in laser scanning technologies we are confident that the solutions we provide will be further enhanced and contribute to overcoming the challenges our customers face,” said Tetsuya Morita “By leveraging the expertise and technological capabilities of both companies we will offer more comprehensive reality capture solutions.” Said Ivan Di Federico, president/CEO of Topcon Positioning Systems “We are committed to introducing solutions that create value for customers The agreement with Faro aligns with this drive toward enhancing profitability and efficiencies for users We are excited about this new collaboration to bring innovative solutions to market.”