FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

December 31,
2023

December 31,
2022

ASSETS

Current assets:

Cash and cash equivalents

$           76,787

$           37,812

Short-term investments

19,496

—

Accounts receivable, net

92,028

90,326

Inventories, net

34,529

50,026

Prepaid expenses and other current assets

38,768

41,201

Total current assets

261,608

219,365

Non-current assets:

Property, plant and equipment, net

21,181

19,720

Operating lease right-of-use asset

12,231

18,989

Goodwill

109,534

107,155

Intangible assets, net

47,891

48,978

Service and sales demonstration inventory, net

23,147

30,904

Deferred income tax assets, net

25,027

24,192

Other long-term assets

4,073

4,044

Total assets

$         504,692

$         473,347

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$           27,404

$           27,286

Accrued liabilities

29,930

23,345

Income taxes payable

5,699

6,767

Current portion of unearned service revenues

40,555

36,407

Customer deposits

4,251

6,725

Lease liability

5,434

5,709

Total current liabilities

113,273

106,239

Loan - 5.50% Convertible Senior Notes

72,760

—

Unearned service revenues - less current portion

20,256

20,947

Lease liability - less current portion

10,837

14,649

Deferred income tax liabilities

13,308

11,708

Income taxes payable - less current portion

5,629

8,706

Other long-term liabilities

23

49

Total liabilities

236,086

162,298

Commitments and contingencies

Shareholders' equity:

Common stock - par value $0.001, 50,000,000 shares authorized; 20,343,359 and
20,156,233 issued; 18,968,798 and 18,780,013 outstanding, respectively

20

20

Additional paid-in capital

346,277

328,227

(Accumulated deficit) Retained earnings

(9,789)

46,788

Accumulated other comprehensive loss

(37,247)

(33,331)

Common stock in treasury, at cost - 1,376,220 and 1,376,220 shares held, respectively

(30,655)

(30,655)

Total shareholders' equity

268,606

311,049

Total liabilities and shareholders' equity

$         504,692

$         473,347