FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

June 30, 2020
(unaudited)

December 31,

2019

ASSETS

Current assets:

Cash and cash equivalents

$

173,700

$

133,634

Short-term investments

—

24,870

Accounts receivable, net

48,113

76,162

Inventories, net

53,425

58,554

Prepaid expenses and other current assets

20,795

28,996

Total current assets

296,033

322,216

Non-current assets:

Property, plant and equipment, net

22,507

26,954

Operating lease right-of-use asset

14,684

18,418

Goodwill

49,184

49,704

Intangible assets, net

12,744

14,471

Service and sales demonstration inventory, net

34,130

33,349

Deferred income tax assets, net

21,153

18,766

Other long-term assets

2,872

2,964

Total assets

$

453,307

$

486,842

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

12,067

$

13,718

Accrued liabilities

42,975

38,072

Income taxes payable

1,258

5,182

Current portion of unearned service revenues

36,480

39,211

Customer deposits

3,451

3,108

Lease liability

4,904

6,674

Total current liabilities

101,135

105,965

Unearned service revenues - less current portion

19,582

20,578

Lease liability - less current portion

11,651

13,698

Deferred income tax liabilities

285

357

Income taxes payable - less current portion

12,058

13,177

Other long-term liabilities

35

1,075

Total liabilities

144,746

154,850

Shareholders' equity:

Common stock - par value $.001, 50,000,000 shares authorized; 19,116,870 and
18,988,379 issued, respectively; 17,718,179 and 17,576,618 outstanding, respectively

19

19

Additional paid-in capital

273,325

267,868

Retained earnings

89,124

112,879

Accumulated other comprehensive loss

(22,865)

(17,399)

Common stock in treasury, at cost; 1,398,691 and 1,411,761 shares, respectively

(31,042)

(31,375)

Total shareholders' equity

308,561

331,992

Total liabilities and shareholders' equity

$

453,307

$

486,842