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Matthew Horwath, Senior Vice President and Chief Financial Officer of FARO Technologies Inc. (NASDAQ:FARO), recently sold 1,480 shares of the company’s common stock. The sale, executed on March 7, 2025, was conducted at a price of $29.30 per share, resulting in a total transaction value of $43,364. The transaction occurs as FARO’s stock has shown significant momentum, gaining over 67% in the past six months, with analyst price targets ranging from $37 to $40.
This transaction was part of a "sell-to-cover" arrangement, aimed at satisfying tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). The shares were not sold at the executive’s discretion but followed FARO Technologies’ policy for such situations. According to InvestingPro data, FARO maintains a healthy financial position with a current ratio of 2.2, indicating strong liquidity to meet short-term obligations.
Following this transaction, Horwath’s direct ownership in the company amounts to 39,430 shares. While FARO has faced profitability challenges in recent quarters, InvestingPro analysis indicates positive earnings expectations for the coming year, with multiple analysts revising their forecasts upward.
In other recent news, Faro Technologies reported fourth-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings per share of $0.50, surpassing the analyst estimate of $0.31. Revenue for the quarter was $93.54 million, exceeding the consensus estimate of $91.55 million, although it represented a 5% year-over-year decline. Faro’s non-GAAP gross margin improved to 57.4% from 51.3% in the previous year, and the company achieved a decade-high adjusted EBITDA margin of 18%. The company also marked its fifth consecutive quarter of positive operating cash flow. Looking ahead, Faro expects first-quarter 2025 revenue between $77 million and $85 million, with the midpoint slightly above the analyst consensus of $80.75 million. Craig-Hallum analyst Greg Palm raised Faro’s price target from $33.00 to $40.00 and maintained a Buy rating, expressing confidence in the company’s growth potential. These developments highlight Faro’s successful implementation of its strategic initiatives.
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