FARO Technologies, Inc. (FARO) financial statements (2022 and earlier)

Company profile

Business Address 125 TECHNOLOGY PARK
LAKE MARY, FL 32746-6204
State of Incorp. FL
Fiscal Year End December 31
SIC 3829 - Measuring and Controlling Devices, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments121,989185,633158,504133,576151,957149,111150,350
Cash and cash equivalents121,989185,633133,634108,783140,960106,169107,356
Short-term investments  24,87024,79310,99742,94242,994
Receivables78,52364,61676,16288,92772,10561,36469,918
Inventory, net of allowances, customer advances and progress billings53,14547,39158,55465,44453,78651,88645,571
Inventory53,14547,39158,55465,44453,78651,88645,571
Other undisclosed current assets19,79326,29528,99628,79516,31123,86926,319
Total current assets:273,450323,935322,216316,742294,159286,230292,158
Noncurrent Assets
Finance lease, right-of-use asset158398720
Operating lease, right-of-use asset22,54326,10718,418
Property, plant and equipment22,19423,09126,95430,41731,87931,67835,946
Intangible assets, net (including goodwill)107,71270,84264,175100,32875,29069,02342,356
Goodwill82,09657,54149,70467,27452,75046,74426,371
Intangible assets, net (excluding goodwill)25,61613,30114,47133,05422,54022,27915,985
Deferred income tax assets21,27747,45018,766
Other noncurrent assets2,0102,3362,9644,4752,030905967
Deferred tax assets, net 15,606  
Other undisclosed noncurrent assets30,39631,43332,62954,28239,61435,87837,759
Total noncurrent assets:206,290201,657164,626189,502164,419137,484117,028
TOTAL ASSETS:479,740525,592486,842506,244458,578423,714409,186
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities46,90660,15656,97261,50143,60736,31633,919
Accounts payable14,19914,12113,71820,09311,56911,12611,345
Accrued liabilities28,20842,59338,07236,32727,36224,57222,574
Taxes payable4,4993,4425,1825,0814,676618 
Deferred revenue40,83839,149 
Debt1372786,674    
Deferred revenue and credits29,67427,42226,114
Customer advances and deposits2,6042,8722,998
Other undisclosed current liabilities11,0008,36442,31936,022   
Total current liabilities:98,881107,947105,96597,52375,88566,61063,031
Noncurrent Liabilities
Long-term debt and lease obligation18,64822,13113,698    
Finance lease, liability110146426
Operating lease, liability18,53821,98513,272
Liabilities, other than long-term debt35,75235,21135,18731,37630,62717,44718,511
Deferred revenue and credits11,81513,81315,025
Accounts payable and accrued liabilities11,29711,58313,17712,24715,952  
Deferred revenue22,35021,75720,578
Contract with customer, liability15,505
Deferred tax liabilities, net 6951,409686
Deferred income tax liabilities1,058787357
Other liabilities1,0471,0841,0753,6242,1652,2252,800
Other undisclosed noncurrent liabilities   736   
Total noncurrent liabilities:54,40057,34248,88532,11230,62717,44718,511
Total liabilities:153,281165,289154,850129,635106,51284,05781,542
Stockholders' equity
Stockholders' equity attributable to parent326,459360,303331,992376,609352,066339,657327,644
Common stock20191919181818
Treasury stock, value(30,792)(31,043)(31,375)(31,609)(31,809)(31,838)(31,838)
Additional paid in capital301,061287,979267,868251,329223,055212,602206,996
Accumulated other comprehensive loss(17,374)(10,160)(17,399)(18,483)(7,822)(24,561)(19,861)
Retained earnings73,544113,508112,879175,353168,624183,436172,329
Total stockholders' equity:326,459360,303331,992376,609352,066339,657327,644
TOTAL LIABILITIES AND EQUITY:479,740525,592486,842506,244458,578423,714409,186

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues337,814303,768381,765403,627360,917325,584317,548
Revenue, net360,917325,584317,548
Cost of revenue
(Cost of Goods and Services Sold)
(153,887)(143,921)(183,633)(175,282)(156,280)(147,624)(149,871)
Gross profit:183,927159,847198,132228,345204,637177,960167,677
Operating expenses(192,363)(190,529)(256,766)(222,591)(199,315)(164,676)(154,555)
Operating income (loss):(8,436)(30,682)(58,634)5,7545,32213,28413,122
Nonoperating income (expense)(70)(431)(2,313)(1,139)190(822)(371)
Foreign currency transaction gain (loss), before tax(560)(1,680)(1,211)(1,386)162(1,356)(377)
Other nonoperating income (expense)4901,249(512)247285346
Interest and debt expense(55)(29)(781)(486)(4)(48)(56)
Income (loss) from continuing operations before equity method investments, income taxes:(8,561)(31,142)(61,728)4,1295,50812,41412,695
Other undisclosed income from continuing operations before income taxes 369714429319212111
Income (loss) from continuing operations before income taxes:(8,561)(30,773)(61,014)4,5585,82712,62612,806
Income tax expense (benefit)(31,403)31,402(1,133)372(20,343)(1,519)7
Net income (loss) available to common stockholders, diluted:(39,964)629(62,147)4,930(14,516)11,10712,813

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(39,964)629(62,147)4,930(14,516)11,10712,813
Comprehensive income (loss):(39,964)629(62,147)4,930(14,516)11,10712,813
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7,214)7,2391,084(10,661)16,739(4,700)(13,166)
Comprehensive income (loss), net of tax, attributable to parent:(47,178)7,868(61,063)(5,731)2,2236,407(353)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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