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Private company

FARO TECHNOLOGIES INC

Florida corporation founded in 19822

In its 2025 annual report the company says: “We are a global technology company that designs, develops, manufactures, markets and supports software driven, three-dimensional measurement, imaging, and realization solutions for the manufacturing, architecture, engineering and construction, operations and maintenance and public safety analytics markets. We enable our customers to capture, measure, manipulate, interact with and share 4D, 3D and 2D data from the physical world in a virtual environment and then translate this information back into the physical domain.”5 It is headquartered in Lake Mary, United States.2

Last updated Oct 21, 2026.

Overview

  • IndustryMeasuring & Controlling Devices, NEC2
  • HeadquartersLake Mary, United States2
  • Incorporated inFL3
  • Business address125 Technology Park, Lake Mary, Fl 32746-62043
  • Filer categoryAccelerated filer3
  • Legal formCorporation2
  • LEI529900MFEFNOFP3YR8232
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address250 Technology Park, 32746 Lake Mary, United States2
  • Registered withFlorida Division of Corporations, P920000142472

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FARO is a Florida corporation founded in 1982 with worldwide headquarters located at 125 Technology Park, Lake Mary, Florida 32746.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

54.7%Gross margin6
1.0%Operating margin6
-2.6%Net margin6
-4.6%Revenue growth, 20246
-3.6%Return on equity6
0.28×Debt to equity6
$24.8MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue45¢$155.3M
  • Research and development12¢$40.1M
  • Selling, general and admin41¢$140.6M
  • Income tax2¢$8.1M

Out of $342.4M in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

  • Capital spending19¢$5.8M
  • Share buybacks33¢$10.0M
  • Kept or used elsewhere48¢$14.8M

Out of $30.6M of cash from operations.6

Financial statements

Revenue789106$342.4M in 2024−15% since 2018
0$200.0M$400.0M$600.0M2018: $403.6M$403.6M20182019: $381.8M$381.8M2019−5%2020: $303.8M$303.8M2020−20%2021: $337.8M$337.8M2021+11%2022: $345.8M$345.8M2022+2%2023: $358.8M$358.8M2023+4%2024: $342.4M$342.4M2024−5%
Gross profit789106$187.2M in 2024−16% since 2018
0$100.0M$200.0M$300.0M2018: $221.6M$221.6M20182019: $198.1M$198.1M2019−11%2020: $159.8M$159.8M2020−19%2021: $183.9M$183.9M2021+15%2022: $175.8M$175.8M2022−4%2023: $165.0M$165.0M2023−6%2024: $187.2M$187.2M2024+13%
Operating income789106$3.3M in 2024−42% since 2018
-$60.0M-$40.0M-$20.0M0$20.0M2018: $5.8M$5.8M20182019: -$58.6M-$58.6M20192020: -$30.7M-$30.7M2020−48%2021: -$8.4M-$8.4M2021−73%2022: -$24.9M-$24.9M2022+195%2023: -$49.5M-$49.5M2023+99%2024: $3.3M$3.3M2024
Net income789106-$9.1M in 2024
-$80.0M-$60.0M-$40.0M-$20.0M0$20.0M2018: $4.9M$4.9M20182019: -$62.1M-$62.1M20192020: $629.0K$629.0K20202021: -$40.0M-$40.0M20212022: -$26.8M-$26.8M2022−33%2023: -$56.6M-$56.6M2023+111%2024: -$9.1M-$9.1M2024−84%
Fiscal year2018201920202021202220232024
Revenue$403.6M7$381.8M8$303.8M9$337.8M10$345.8M6$358.8M6$342.4M6
Cost of revenue$182.1M7$183.6M8$143.9M9$153.9M10$170.0M6$193.8M6$155.3M6
Gross profit$221.6M7$198.1M8$159.8M9$183.9M10$175.8M6$165.0M6$187.2M6
Research and development$46.1M7$44.2M8$42.9M9$48.8M10$49.4M6$41.8M6$40.1M6
Selling, general and admin$169.7M7$177.4M8$131.8M9$136.2M10$146.7M6$157.3M6$140.6M6
Operating expenses$192.4M10$200.7M6$214.5M6$183.8M6
Operating income$5.8M7-$58.6M8-$30.7M9-$8.4M10-$24.9M6-$49.5M6$3.3M6
Interest$486.0K7$781.0K8$08$55.0K8
Income before tax-$8.6M10-$21.7M6-$54.1M6-$934.0K6
Income tax-$372.0K7$1.1M8-$31.4M9$31.4M10$5.1M6$2.5M6$8.1M6
Net income$4.9M7-$62.1M8$629.0K9-$40.0M10-$26.8M6-$56.6M6-$9.1M6
Earnings per share$0.297-$3.588$0.049-$2.2010-$1.466-$2.996-$0.476
Earnings per share (diluted)$0.297-$3.588$0.049-$2.2010-$1.466-$2.996-$0.476
Shares (weighted, basic)18.2M shares1018.3M shares618.9M shares619.2M shares6
Shares (weighted, diluted)18.2M shares1018.3M shares618.9M shares619.2M shares6

Compare FARO TECHNOLOGIES INC with another company

Corporate structure

FARO TECHNOLOGIES INC is part of a group headed by Ametek. 254 entities, 39 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of FARO TECHNOLOGIES INC

  • Ametek Philadelphia, Pennsylvania, United States
    • FARO TECHNOLOGIES INC Lake Mary, Florida, United States
      • FARO Technologies Polska sp.zo.o Subsidiary · Poland
    • SPECTRO Analytical Instruments Kleve, Germany
    • AMETEK Crank Subsidiary · Ottawa, Canada
    • 1001450793 Ontario Ltd. Subsidiary · Canada
    • 3D Laser Mapping Ltd. Subsidiary · United Kingdom
    • 3D Measurement Technologies S de RL de CV Subsidiary · Mexico
    • 4DSP, LLC Subsidiary · Nevada, United States
    • Abaco Systems Limited Subsidiary · United Kingdom
    • Abaco Systems Technology Corp. Subsidiary · New York, United States
    • Abaco UK Holdco Limited Subsidiary · United Kingdom
    • Advanced Measurement Technology, Inc. Subsidiary · Delaware, United States
    • AEM Limited Subsidiary · United Kingdom
    • AIP/MPM Holdings, Inc. Subsidiary · Delaware, United States
    • Airtechnology Pension Trustees Limited Subsidiary · United Kingdom
    • Alphasense Limited Subsidiary · United Kingdom
    • Amekai (BVI) Ltd. Subsidiary · British Virgin Islands
    • Amekai Meter (Xiamen) Co., Ltd. Subsidiary · China
    • Amekai Singapore Private Ltd. Subsidiary · Singapore
    • Amekai Taiwan Co., Ltd. Subsidiary · Taiwan
    • AMETEK (Barbados) SRL Subsidiary · Barbados
    • AMETEK (Bermuda), Ltd. Subsidiary · Bermuda
    • AMETEK (GB) Limited Subsidiary · United Kingdom
    • AMETEK (Thailand) Co., Ltd. Subsidiary · Thailand
    • AMETEK Advanced Industries, Inc. Subsidiary · Delaware, United States
    • AMETEK Aegis, Inc. Subsidiary · Delaware, United States
    • and 227 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What FARO TECHNOLOGIES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$124.4M6 Dec 31, 2024$126.2M6 Dec 31, 2023−1.5%
Accumulated depreciation$105.6M6 Dec 31, 2024$105.0M6 Dec 31, 2023+0.5%
Property and equipment, net$18.8M6 Dec 31, 2024$21.2M6 Dec 31, 2023−11.4%
Finance-lease assets$29.0K6 Dec 31, 2024$175.0K6 Dec 31, 2023−83.4%
Operating-lease assets (leased space)$15.9M6 Dec 31, 2024$12.2M6 Dec 31, 2023+29.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$88.7M6 Dec 31, 2024$76.8M6 Dec 31, 2023+15.5%
Marketable securities, current$10.0M6 Dec 31, 2024$19.5M6 Dec 31, 2023−48.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$106.6M6 Dec 31, 2024$109.5M6 Dec 31, 2023−2.7%
Indefinite-lived intangibles (excluding goodwill)$06 Dec 31, 2024$06 Dec 31, 2023
Finite-lived intangibles, gross$95.0M6 Dec 31, 2024$91.0M6 Dec 31, 2023+4.3%
Accumulated amortization$50.9M6 Dec 31, 2024$43.1M6 Dec 31, 2023+17.9%
Finite-lived intangibles, net$44.1M6 Dec 31, 2024$47.9M6 Dec 31, 2023−7.8%

Inventory

ItemLatestA year beforeChange
Inventory, total$32.1M6 Dec 31, 2024$34.5M6 Dec 31, 2023−7.0%
Raw materials$16.0M6 Dec 31, 2024$18.5M6 Dec 31, 2023−13.5%
Finished goods$16.1M6 Dec 31, 2024$16.1M6 Dec 31, 2023+0.5%

Properties, in its own words

FARO’s facility strategy is to lease properties in the global regions in which we serve our customers with global administrative functions residing in the United States and engineering for key products residing in the locations where the technical expertise exists. We have adopted a hybrid work strategy that reduces the overall need for leased square footage.

The Americas

The rest of Item 2

Our operations in the Americas are primarily located in leased facilities in Lake Mary, Florida, which consists of approximately 35,000 square feet and Exton, Pennsylvania, which consists of approximately 90,400 square feet, of which 73,400 square feet is being used for operations at December 31, 2024. In these facilities, we house our sales, marketing, customer service, research and development, service and administrative functions. We also lease a facility in Nuevo Leon, Mexico containing service and sales operations, which consists of approximately 36,000 square feet. We also lease a facility in Sao Paulo, Brazil containing service and sales operations, which consists of approximately 12,300 square feet.

Europe/Middle East/Africa

In Europe, the Middle East, and Africa (“EMEA”), our primary operations are located in a leased facility in Korntal-Muenchingen, Germany containing approximately 105,300 square feet, a majority of which is being used for our research and development activities at December 31, 2024. This facility houses the research and development, administration, sales, marketing and service management personnel for our EMEA operations. Additionally, we also have a leased service and sales facility located in Warwickshire, England consisting of approximately 12,700 square feet and Nottingham, England consisting of approximately 8,300 square feet. These facilities house additional research and development, administration, sales, marketing and service management personnel for our EMEA operations.

Asia-Pacific

In Asia-Pacific (“APAC”), our primary operations are located in leased facilities in Nagoya, Japan containing approximately 17,200 square feet, Shanghai, China containing approximately 24,700 square feet, New Delhi, India containing approximately 10,510 square feet, and Bangkok, Thailand containing approximately 7,500 square feet. These facilities house our sales, service and administrative functions in support of our APAC operations.

We believe our current facilities and third-party resources will be adequate for our needs in 2025 and that we will be able to locate suitable space for additional regional offices or enhanced production needs as necessary.

As part of our Integration Plan, we have abandoned several office buildings under operating leases in 2023. See Note 19, "Restructuring" in the notes to the consolidated financial statements included in Part II, Item 8, "Financial Statements and Supplementary Data" of this Annual Report for additional information regarding our facilities consolidation efforts.

The information required by the remainder of this Item is incorporated herein by reference to Exhibit 99.1 to this Annual Report.

Item 2 of the 10-K filed Feb 24, 2025.5

Leadership

Who has led FARO TECHNOLOGIES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jay Freeland2007–2015
  2. Simon Raab2015–2019
  3. Michael D. Burger2019–2023

Chair

  1. Yuval Wasserman2023–now

President

  1. Jay Freeland2010–2015
  2. Simon Raab2015–2019
  3. Michael D. Burger2019–2023

Chief financial officer

  1. Keith S. Bair2006–2014
  2. Peter Abram2014
  3. Laura Murphy2015–2016
  4. Robert E. Seidel Jr.2017–2019
  5. Allen L. Muhich2019–2023
  6. Matthew Horwath2024–now

Chief operating officer

  1. Kathleen Hall2017–2019
2010201520202025
Board members and other officers (33)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 3D Laser Mapping Ltd. United Kingdom4
  • 3D Measurement Technologies, S de RL de CV Mexico4
  • Antares-Desenvolvimento de Software, Lda. Portugal4
  • Bitstars GmbH Germany4
  • FARO Benelux BV Netherlands4
  • FARO Business Technologies India Pvt. Ltd. India4
  • FARO Cayman LP Cayman Islands4
  • FARO Delaware, LLC Delaware4
  • FARO Europe GmbH Germany4
  • FARO FNH Netherlands Holdings B.V. Netherlands4
  • FARO Japan Inc. Japan4
  • FARO Singapore Pte Ltd. Singapore4
  • FARO Singapore Pte. Ltd. Australia4
  • FARO Spain SLU Spain4
  • FARO Swiss Holding GmbH Switzerland4
  • FARO Technologies (Shanghai) Co., Ltd. China4
  • FARO Technologies (Thailand) Company Ltd. Thailand4
  • FARO Technologies Canada, Inc. Canada4
  • FARO Technologies Italy S.r.l. Italy4
  • FARO Technologies Polska sp.zo.o Poland4
  • FARO Technologies Sweden AB Sweden4
  • FARO Technologies UK Ltd. United Kingdom4
  • FARO Technologies do Brasil Ltda Brazil4
  • FARO Turkey Olcu Sistemleri Ltd. Sti Turkey4
All 34 listed subsidiaries
  • GN Investments Ltd. United Kingdom of Great Britain and Northern Ireland4
  • GNI Technology Ltd. United Kingdom of Great Britain and Northern Ireland4
  • GeoSLAM B.V. Netherlands4
  • GeoSLAM Inc. Delaware4
  • GeoSLAM International Ltd. United Kingdom of Great Britain and Northern Ireland4
  • GeoSLAM Ltd. United Kingdom of Great Britain and Northern Ireland4
  • GeoSLAM OZ (Pty) Ltd. Australia4
  • GeoSLAM Pty Ltd. Australia4
  • NGH Holdings Ltd. United Kingdom of Great Britain and Northern Ireland4
  • Open Technologies SRL Italy4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 25, 20258-K Financial statements and exhibits58
  2. Jul 21, 20258-K Entered a material agreement; Completed an acquisition or sale; Listing notice or transfer59
  3. Jul 15, 20258-K Shareholder vote; Other events60
  4. Jul 2, 20258-K Other events61
  5. May 21, 20258-K Shareholder vote62
  6. May 7, 20258-K Entered a material agreement63
  7. May 6, 20258-K Other events64
  8. Apr 24, 20258-K Results of operations65
  9. Feb 24, 20258-K Results of operations66
  10. Feb 10, 20258-K Regulation FD disclosure67
  11. Nov 6, 20248-K Results of operations68
  12. Aug 22, 20248-K Executive or director change69
  13. Jun 19, 2019New chief executive Michael D. Burger becomes CEO15
  14. Dec 8, 2015New chief executive Simon Raab becomes CEO16
  15. Mar 20, 2007New chief executive Jay Freeland becomes CEO17

Calendar

When it reported results

  1. Apr 24, 2025Reported quarterly or annual results65
  2. Feb 24, 2025Reported quarterly or annual results66
  3. Nov 6, 2024Reported quarterly or annual results68
  4. Aug 8, 2024Reported quarterly or annual results70
  5. May 1, 2024Reported quarterly or annual results71
  6. Feb 27, 2024Reported quarterly or annual results72
  7. Nov 1, 2023Reported quarterly or annual results73
  8. Aug 2, 2023Reported quarterly or annual results74

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

253 filings to the SEC since October 2021: 4 annual reports, 11 quarterly reports, 39 major events, 110 insider forms, 26 large holders, 63 other. The latest 20:

  1. Jul 31, 202515-12G EDGAR
  2. Jul 25, 20258-K/A EDGAR
  3. Jul 24, 2025SCHEDULE 13D/A EDGAR
  4. Jul 23, 2025EFFECT EDGAR
  5. Jul 21, 20254 EDGAR
  6. Jul 21, 20254 EDGAR
  7. Jul 21, 20254 EDGAR
  8. Jul 21, 20254 EDGAR
  9. Jul 21, 20254 EDGAR
  10. Jul 21, 20254 EDGAR
  11. Jul 21, 20254 EDGAR
  12. Jul 21, 20254 EDGAR
  13. Jul 21, 20254 EDGAR
  14. Jul 21, 202525-NSE EDGAR
  15. Jul 21, 2025S-8 POS EDGAR
  16. Jul 21, 2025S-8 POS EDGAR
  17. Jul 21, 2025S-8 POS EDGAR
  18. Jul 21, 2025S-8 POS EDGAR
  19. Jul 21, 2025S-8 POS EDGAR
  20. Jul 21, 2025POS AM EDGAR

The 253 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

34 open-market trades by officers, directors and large owners since October 2021: 15 buys and 19 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 18, 2025Horwath MatthewSVP & Chief Financial OfficerSale166$28.40$4.7KForm 4
Mar 7, 2025Horwath MatthewSVP & Chief Financial OfficerSale1,480$29.30$43.4KForm 4
Mar 7, 2025LAU PETER JAMESPresident and CEOSale4,617$29.30$135.3KForm 4
Mar 5, 2025Horwath MatthewSVP & Chief Financial OfficerSale439$30.63$13.4KForm 4
Feb 5, 2025WASSERMAN YUVALDirectorSale5,658$31.35$177.4KForm 4
Dec 3, 2024Horwath MatthewSVP & Chief Financial OfficerSale645$26.13$16.9KForm 4
Nov 6, 2024WASSERMAN YUVALDirectorSale5,750$19.21$110.5KForm 4
Nov 5, 2024WASSERMAN YUVALDirectorSale6,222$17.75$110.4KForm 4
Sep 6, 2024LAU PETER JAMESPresident and CEOSale5,435$16.67$90.6KForm 4
Jul 30, 2024WASSERMAN YUVALDirectorSale12,334$16.90$208.4KForm 4
Jul 26, 2024LAU PETER JAMESPresident and CEOSale10,647$17.19$183.0KForm 4
Jun 17, 2024WASSERMAN YUVALDirectorSale10,149$16.52$167.7KForm 4
Jun 14, 2024WASSERMAN YUVALDirectorSale10,075$16.64$167.6KForm 4
Jun 13, 2024WASSERMAN YUVALDirectorSale9,539$17.57$167.6KForm 4
Jun 12, 2024Horwath MatthewSVP & Chief Financial OfficerSale175$18.65$3.3KForm 4
Jun 12, 2024SEXTON JEFFREY DSenior VP of Global SalesSale651$18.65$12.1KForm 4
Jun 12, 2024WASSERMAN YUVALDirectorSale8,986$18.65$167.6KForm 4
Mar 13, 2024Horwath MatthewSVP & Chief Financial OfficerSale778$20.06$15.6KForm 4
Mar 13, 2024SEXTON JEFFREY DSenior VP of Global SalesSale1,500$20.06$30.1KForm 4
Nov 9, 2023DAVERN ALEXANDER MDirectorBuy15,881$17.17$272.7KForm 4

All 34 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Peter J. Lau45$600.0K$4.0M84
2024Matthew HorwathSenior Vice President and Chief Financial Officer41$376.9K$1.7M84
2024Jeff Sexton$262.7K$1.0M84
2024Yuval Wasserman70$100.0K$671.0K84
2024Allen Muhich$123.6K$594.4K84
2024Phillipe DelnickSenior Vice President Global Sales55$51.9K$459.6K84
2023President and Chief Executive Officer$253.8K$6.3M84
2023Executive Chairman*$1$2.6M84
2023Former Chief Financial Officer$420.2K$2.0M84
2023Former Senior VicePresident of Sales$301.6K$1.1M84
2022Former Chief Financial Officer$393.6K$1.4M84
2022Former Senior VicePresident of Sales$285.0K$844.2K84

SEC filer profile

How FARO TECHNOLOGIES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFARO TECHNOLOGIES INC1
  • CIK0000917491
  • Employer ID (EIN)59-31570935
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inFlorida5
  • Fiscal year endsDecember 311
  • Industry code (SIC)3829 Measuring & Controlling Devices, NEC1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address125 Technology Park, Lake Mary, FL 32746-62041
  • Mailing addressFaro Technologies Inc, 125 Technology Park, Lake Mary, FL 327461
  • Phone40733399111
  • Shares outstanding19,226,240 as of Apr 21, 202513
  • Public float$303.9M as of Jun 28, 20245
  • AuditorGRANT THORNTON LLP, Jacksonville, Florida PCAOB ID 248; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceAug 6, 19971
  • Filings1,318 in all: 4 (519), 8-K (260), SC 13G/A (117), 10-Q (83), SC 13G (47), 3 (37), DEF 14A (28), 10-K (27)1
    All 51 form types

    144 (18), 4/A (16), DEFA14A (15), UPLOAD (13), 5 (12), SD (12), ARS (11), S-8 (10), CORRESP (9), S-8 POS (8), 8-K/A (7), S-1/A (6), S-3 (6), SCHEDULE 13G/A (6), 10-K/A (5), EFFECT (5), 10-Q/A (4), 3/A (3), 424B5 (3), 424B3 (2), NT 10-K (2), NT 10-Q (2), POS AM (2), S-1 (2), S-3/A (2), SC 13D/A (2), 10-K405 (1), 10-K405/A (1), 144/A (1), 15-12G (1), 25-NSE (1), 424B4 (1), 5/A (1), 8-A12G (1), DEFM14A (1), DEFR14A (1), PREM14A (1), REGDEX (1), S-1MEF (1), SC 13D (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 24, 2025
    Quarterly report (10-Q) Apr 24, 2025
    Proxy statement (DEF 14A) Apr 10, 2025
    Latest 8-K (8-K) Jul 21, 2025

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $.001FARONasdaq Global Select Market LLC

From the cover page of the 10-K filed Feb 24, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks FARO TECHNOLOGIES INC names in Item 1A of its 10-K filed Feb 24, 2025: 43 risks under these headings, as written.5

  • Risks Related to Our Business and Industry
  • The failure to attract and retain qualified personnel could lead to a loss of sales or decreased profitability and could have a material adverse impact on our business.
  • Competitors may develop products that make our products obsolete or less competitive.
  • Our growth depends on the ability of our products to attain broad market acceptance.
  • The buying process for most of our customers for our measurement products is highly decentralized and typically requires significant time and expense for us to further penetrate the potential market of a specific customer, which may delay our ability to generate additional revenue.
  • If our efforts to develop our current services towards a subscription-based business model do not succeed, we may reduce our revenue growth rate and profitability, fail to keep pace with technological developments and harm our business.
  • Tariffs and other trade restrictions could have a material adverse effect on our business.
  • We have experienced volatility in our stock price.
  • We may not be able to identify or consummate acquisitions or achieve expected benefits from or effectively integrate acquisitions, which could harm our growth.
  • Our operations are significantly vulnerable to the effects of pandemics, which have, and could continue to materially impact our business.
  • We derive a substantial part of our revenues from our international operations, which are subject to greater volatility and often require more management time and expense to achieve profitability than our domestic operations.
  • We are subject to risks of natural disasters and other catastrophic events.
The other 32 risks
  • We may face difficulties managing the effects of any future growth.
  • Market conditions and changing circumstances, some of which may be beyond our control, could impair our ability to access our existing cash, cash equivalents and investments and to timely pay key vendors and others.
  • Reductions in defense spending could adversely affect our business.
  • Anti-takeover provisions in our articles of incorporation, bylaws and provisions of Florida law could delay or prevent a change of control that you may favor.
  • Our bylaws designate specific courts in Florida and the federal district courts of the United States of America are the exclusive forums for substantially all litigation that may be initiated by the Company’s shareholders, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us.
  • Risks Related to Our Financial Position and Need for Additional Capital
  • Our financial performance is dependent on the conditions of various industries, including the automotive, aerospace, and heavy-equipment industries, which have from time to time experienced, and may again experience, significant disruptions in the economic environment.
  • Because a significant portion of our revenues, expenses, and assets are denominated in foreign currencies, we face significant exposure to foreign exchange rate risk.
  • We may be unable to recognize the anticipated benefits of our 2024 Restructuring Plan, our new strategic plan, and any future restructuring and strategic plans.
  • Changes in tariffs and other export regulations could increase the cost of our products sold to our international customers, which could negatively impact our sales and profitability.
  • We may not be able to achieve financial results within our target goals, and our operating results may fluctuate due to a number of factors, many of which are beyond our control.
  • Future impairments of our goodwill, intangible and long-lived assets could adversely affect our financial condition and results of operations.
  • We may require additional capital to support our liabilities, operations or the growth of our business, and we cannot be certain that this capital will be available on reasonable terms when required, or at all.
  • Inflation in the global economy could negatively impact our business and results of operations.
  • If we fail to establish and maintain effective internal controls over financial reporting, our financial statements could contain a material misstatement, which could adversely affect our business and financial condition.
  • Our financial results may be adversely affected by exposure to additional tax liabilities.
  • A valuation allowance may be required for our deferred tax assets, which may reduce our earnings and have a material adverse effect on our business, results of operations and financial condition.
  • Risks Related to Our Outstanding Convertible Notes
  • Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our existing debt obligations, including the Notes.
  • We may not have sufficient cash to settle conversions of the Notes in cash, to repurchase the Notes upon a fundamental change, or to repay the principal amount of the Notes in cash at their maturity, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the Notes.
  • The conditional conversion feature of the Notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for the Notes could affect our reported financial condition and results.
  • Risks Related To Product Development And Regulatory Process
  • Product failures or product availability and performance issues could result in increased warranty costs and delays in new product introductions and enhancements, and could adversely affect our business and financial condition.
  • Increases in the cost and constraints in the availability of raw materials or components used in our products could negatively impact our business and profitability.
  • We compete with manufacturers of measurement systems and traditional measurement devices, many of which have more resources than us and may develop new products and technologies.
  • We are subject to the impact of governmental and other similar certification processes and regulations, which could adversely affect our business and results of operations.
  • Risks generally associated with our information systems or cybersecurity attacks on our systems could adversely affect our business reputation, the results of our business operations and our financial condition.
  • Our sales to the U.S. government are subject to compliance with regulatory and contractual requirements, and noncompliance could expose us to liability or impede current or future business.
  • Any failure to comply with the Foreign Corrupt Practices Act or similar anti-corruption, anti-bribery or anti-money-laundering laws could subject us to fines and penalties.
  • Our failure to comply with trade compliance and economic sanctions laws and regulations of the United States and applicable international jurisdictions could materially adversely affect our reputation and results of operations.
  • Risks Related to Intellectual Property
  • Any failure to protect our patents and proprietary rights in the United States and foreign countries could adversely affect our revenues.
  • Claims from others that we infringed on their intellectual property rights may adversely affect our business and financial condition.
  • Risks Related To Reliance On Third Parties
  • Our dependence on suppliers for materials could impair our ability to manufacture our products.
  • World geopolitical conflict, including the Russia/Ukraine, Israel/Hamas and China/Taiwan conflicts, have materially impacted economic activities, and may materially impact our global and regional operations.

Legal proceedings

We are involved in disputes, claims and other legal actions arising in the normal course of our business. Although it is not possible to predict the outcome of these matters, we believe that the results of these proceedings will not have a material adverse effect on our business, financial condition or results of operations. However, any litigation, regardless of its outcome, may be costly and may require significant time and attention of our management and technical personnel.

The opening of Item 3, Legal Proceedings.5

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