Faro Technologies Inc - FARO STOCK NEWS

Welcome to our dedicated page for Faro Technologies news (Ticker: FARO), a resource for investors and traders seeking the latest updates and insights on Faro Technologies stock.

FARO Technologies, Inc. (symbol: FARO) is a leading global provider of 3D measurement, imaging, and realization solutions. Headquartered in Lake Mary, Florida, with branches around the world, FARO is renowned for pioneering technology that bridges the digital and physical worlds. The company designs, develops, manufactures, markets, and supports software-driven solutions for 3D metrology, architecture, engineering, construction (AEC), operations and maintenance (O&M), and public safety analytics.

FARO's products enable customers to capture, measure, manipulate, interact with, and share 3D and 2D data from the physical world in a virtual environment. This technology is crucial for the inspection of components and assemblies, rapid prototyping, reverse engineering, and documenting large volumes or structures in 3D. The company's solutions are also widely used in surveying, construction, and the investigation and reconstruction of accident and crime scenes.

FARO's core offerings include high-precision 3D measurement devices and software that enhance production and quality assurance processes. Worldwide, around 15,000 customers operate more than 30,000 installations of FARO systems. Some of the latest advancements from FARO include the Orbis Mobile Scanner and an enhanced version of FARO Sphere XG, which have been well-received in the market.

Financially, FARO has demonstrated strong performance. In the third quarter of 2023, the company reported revenues of $86.8 million and non-GAAP EPS of $0.02, surpassing expectations. The recent promotion of Matthew Horwath to SVP & Chief Financial Officer highlights the company's strategic focus on strengthening its leadership team to drive long-term growth and operational efficiency.

FARO's commitment to security and compliance is evident from its successful completion of the SOC 2 Type II audit for Sphere XG, ensuring protection of customer data. The company continues to innovate and expand its product portfolio, maintaining its status as a trusted source for 3D measurement technology.

For 40 years, FARO has been at the forefront of #RealityCapture, providing industry-leading technology that enables customers to measure their world and use that data to make smarter, faster decisions. Keep up to date with FARO's latest news and developments through their Investor Relations webpage.