FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

September 30,
2022 (unaudited)

December 31,
2021

ASSETS

Current assets:

Cash and cash equivalents

$           48,534

$         121,989

Accounts receivable, net

75,347

78,523

Inventories, net

50,956

53,145

Prepaid expenses and other current assets

33,801

19,793

Total current assets

208,638

273,450

Non-current assets:

Property, plant and equipment, net

20,424

22,194

Operating lease right-of-use assets

18,404

22,543

Goodwill

101,279

82,096

Intangible assets, net

48,094

25,616

Service and sales demonstration inventory, net

28,249

30,554

Deferred income tax assets, net

18,092

21,277

Other long-term assets

2,047

2,010

Total assets

$         445,227

$         479,740

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$           17,546

$           14,199

Accrued liabilities

22,881

28,208

Income taxes payable

6,421

4,499

Current portion of unearned service revenues

36,440

40,838

Customer deposits

5,873

5,399

Lease liabilities

5,532

5,738

Total current liabilities

94,693

98,881

Unearned service revenues - less current portion

20,868

22,350

Lease liabilities - less current portion

14,344

18,648

Deferred income tax liabilities

5,708

1,058

Long-term note payable

—

—

Income taxes payable - less current portion

10,131

11,297

Other long-term liabilities

19

1,047

Total liabilities

145,763

153,281

Common stock - par value $.001, 50,000,000 shares authorized; 20,153,287 and
19,588,003 issued, respectively; 18,776,936 and 18,205,636 outstanding, respectively

20

20

Additional paid-in capital

325,244

301,061

Retained earnings

49,022

73,544

Accumulated other comprehensive loss

(44,165)

(17,374)

Common stock in treasury, at cost - 1,376,351 and 1,382,367 shares held, respectively

(30,657)

(30,792)

Total shareholders' equity

299,464

326,459

Total liabilities and shareholders' equity

$         445,227

$         479,740