FARO TECHNOLOGIES, INC. AND SUBSIDIARIES RECONCILIATION OF NET LOSS TO EBITDA AND ADJUSTED EBITDA (UNAUDITED) | |||||||
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| Three Months Ended December 31, |
| Twelve Months Ended December 31, | ||||
(in thousands) | 2022 |
| 2021 |
| 2022 |
| 2021 |
Net loss | $ (2,235) |
| $ (31,712) |
| $ (26,756) |
| $ (39,964) |
Interest (income) expense, net | (8) |
| 1 |
| (36) |
| 55 |
Income tax expense | 753 |
| 35,070 |
| 5,105 |
| 31,403 |
Depreciation and amortization and fair value
| 7,472 |
| 3,836 |
| 17,533 |
| 13,396 |
EBITDA | 5,982 |
| 7,195 |
| (4,154) |
| 4,890 |
Other (income) expense, net | (159) |
| 503 |
| (3,236) |
| 70 |
Stock-based compensation | 3,291 |
| 2,799 |
| 13,315 |
| 11,456 |
Restructuring and other costs (1) | 2,604 |
| 3,689 |
| 7,548 |
| 7,368 |
Adjusted EBITDA | $ 11,718 |
| $ 14,186 |
| $ 13,473 |
| $ 23,784 |
Adjusted EBITDA margin (2) | 11.3 % |
| 14.2 % |
| 3.9 % |
| 7.0 % |
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(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. The Restructuring and other costs primarily consist of severance and related benefits. | |
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(2) Calculated as Adjusted EBITDA as a percentage of total sales. |
FARO TECHNOLOGIES, INC. AND SUBSIDIARIES KEY SALES MEASURES (UNAUDITED) | |||||||
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| For the Three Months Ended
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| For the Twelve Months Ended
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(in thousands) | 2022 |
| 2021 |
| 2022 |
| 2021 |
| Total sales to external customers as reported |
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| Americas (1) | $ 44,345 |
| $ 40,438 |
| $ 154,422 |
| $ 140,633 |
| EMEA (1) | 31,680 |
| 29,035 |
| 98,174 |
| 104,350 |
| APAC (1) | 27,834 |
| 30,731 |
| 93,169 |
| 92,831 |
|
| $ 103,859 |
| $ 100,204 |
| $ 345,765 |
| $ 337,814 |
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| For the Three Months Ended
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| For the Twelve Months Ended
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| (in thousands) | 2022 |
| 2021 |
| 2022 |
| 2021 |
| Total sales to external customers in constant currency (2) |
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| Americas (1) | $ 43,894 |
| $ 41,677 |
| $ 153,897 |
| $ 141,579 |
| EMEA (1) | 35,597 |
| 28,180 |
| 106,642 |
| 100,002 |
| APAC (1) | 30,987 |
| 30,356 |
| 100,502 |
| 91,552 |
|
| $ 110,478 |
| $ 100,213 |
| $ 361,041 |
| $ 333,133 |
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(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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(2) We compare the change in the sales from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying business performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rate in effect during the last day of the prior comparable period, rather than the actual exchange rates in effect during the respective periods. |
