FARO TECHNOLOGIES, INC. AND SUBSIDIARIES RECONCILIATION OF NET LOSS TO EBITDA AND ADJUSTED EBITDA (UNAUDITED) | |||||||
|
| |||||||
|
| Three Months Ended March 31, | ||||||
(in thousands) | 2021 |
| 2020 | ||||
Net loss | $ | (3,221) |
|
| $ | (14,823) |
|
Interest expense, net | 10 |
|
| 34 |
| ||
Income tax benefit | (1,612) |
|
| (2,238) |
| ||
Depreciation and amortization | 3,190 |
|
| 3,759 |
| ||
EBITDA | (1,633) |
|
| (13,268) |
| ||
Other (income) expense, net | (1,615) |
|
| 473 |
| ||
Stock-based compensation | 2,094 |
|
| 2,176 |
| ||
Restructuring costs (1) | 1,524 |
|
| 13,688 |
| ||
Adjusted EBITDA | $ | 370 |
|
| $ | 3,069 |
|
Adjusted EBITDA margin (2) | 0.5 | % |
| 3.9 | % | ||
|
|
(1) On February 14, 2020, 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. In connection with the Restructuring Plan, during the first quarters 2020 and 2021 we recorded a pre-tax charge of approximately $13.7 million and $1.5 million, respectively, primarily consisting of severance and related benefits. |
(2) Calculated as Adjusted EBITDA as a percentage of Non-GAAP total sales, which adjusts for the GSA sales adjustment. |
FARO TECHNOLOGIES, INC. AND SUBSIDIARIES SALES DISAGGREGATED BY GEOGRAPHY (UNAUDITED) | |||||||
|
| |||||||
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| For the Three Months Ended March 31, | ||||||
(in thousands) | 2021 |
| 2020 | ||||
Total sales to external customers |
|
|
| ||||
Americas (1) | $ | 32,549 |
|
| $ | 35,590 |
|
EMEA (1) | 25,454 |
|
| 23,690 |
| ||
APAC (1) | 18,328 |
|
| 20,235 |
| ||
|
| $ | 76,331 |
|
| $ | 79,515 |
|
|
|
(1) Regions represent North America and South America (Americas); Europe, the Middle East, and Africa (EMEA); and the Asia-Pacific (APAC). |
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SOURCE FARO
| Contact: |
| Company Name: FARO
Investor Contacts: FARO Technologies, Inc., Allen Muhich, Chief Financial Officer Phone: +1 407-562-5005 Email Contact Sapphire Investor Relations, LLC: Michael Funari or Erica Mannion Phone: +1 617-542-6180 Email Contact Web: http://www.faro.com Financial data for FARO |
