FARO TECHNOLOGIES, INC. AND SUBSIDIARIES 

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

March 31, 2022
(unaudited)

December 31,
2021

ASSETS

Current assets:

     Cash and cash equivalents

$        107,192

$        121,989

     Accounts receivable, net

76,745

78,523

     Inventories, net

53,992

53,145

     Prepaid expenses and other current assets

23,063

19,793

          Total current assets

260,992

273,450

Non-current assets:

     Property, plant and equipment, net

22,454

22,194

     Operating lease right-of-use assets

21,141

22,543

     Goodwill

81,507

82,096

     Intangible assets, net

27,223

25,616

     Service and sales demonstration inventory, net

31,894

30,554

     Deferred income tax assets, net

20,713

21,277

     Other long-term assets

1,979

2,010

          Total assets

$        467,903

$        479,740

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

     Accounts payable

$          14,793

$          14,199

     Accrued liabilities

25,650

28,208

     Income taxes payable

5,760

4,499

     Current portion of unearned service revenues

40,286

40,838

     Customer deposits

5,876

5,399

     Lease liabilities

5,653

5,738

          Total current liabilities

98,018

98,881

Unearned service revenues - less current portion

22,486

22,350

Lease liabilities - less current portion

17,288

18,648

Deferred income tax liabilities

1,041

1,058

Income taxes payable - less current portion

11,297

11,297

Other long-term liabilities

1,034

1,047

Total liabilities

151,164

153,281

Shareholders' equity:

     Common stock - par value $.001, 50,000,000 shares authorized; 19,637,028 and
     19,588,003 issued, respectively; 18,260,667 and 18,205,636 outstanding, respectively

20

20

     Additional paid-in capital

302,877

301,061

     Retained earnings

63,857

73,544

     Accumulated other comprehensive loss

(19,358)

(17,374)

     Common stock in treasury, at cost - 1,376,351 and 1,382,367 shares held, respectively

(30,657)

(30,792)

Total shareholders' equity

316,739

326,459

Total liabilities and shareholders' equity

$        467,903

$        479,740