FARO Technologies Reported Q3 Results, Slightly Below Expectations
<p><a href='https://financialmodelingprep.com/financial-summary/FARO'>FARO Technologies, Inc. (NASDAQ:FARO) </a>reported its Q3 results, which were slightly below Street estimates. Total sales were $79.2 million. The company’s management explained that the lower-than-expected sales growth of 12% in Q3 was tied to a $5 million slippage of deals into the next quarter, entirely tied to Asia. </p>
<p>Analysts at Berenberg Bank provided their view on the company following the report, mentioning that Q3 activity was somewhat soft sequentially, however, funnel activity remains strong for Q4. </p>
<p>FARO Sphere is currently in beta testing and is expected to launch in Q4. The analysts, which lowered their price target on the company’s shares to $93 from $98, believe FARO Sphere, alongside Holobuilder will be the key lever to improving the recurring revenue mix.</p>

NASDAQ:FARO