FARO® Launches End-To-End 3D Digital Reality Capture & Collaboration Platform

LAKE MARY, Fla., April 12, 2022 — (PRNewswire) — FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced the launch of an unprecedented, ultra-efficient data capture and collaboration platform. Utilizing cutting-edge technology, the platform provides the industry's most efficient cloud-based workflow combining three innovative new solutions: the FARO Sphere™ digital ecosystem for the most effective exchange of data possible; the FARO Focus Premium Laser Scanner for fast, accurate and complete field capture; and the FARO Stream mobile app for real-time data verification.

"With FARO Sphere as its backbone, our new end-to-end 3D capture platform provides customers with industry-leading ease-of-use, accuracy and speed," said Michael Burger, FARO President and CEO. "Real-time data capture validation and remote collaboration will transform how customers generate, access and utilize 3D data models. For our shareholders, Sphere is expected to generate meaningful high margin Software as a Service (SaaS) recurring revenue over time as customers increasingly realize the benefits of our cloud-based solution."

The next generation Focus Premium is the fastest, most accurate and best data-sharing-enabled scanner on the market today, featuring entirely new components with a proven design. The new Stream app, which is available for Android and iOS devices, used with the Focus Premium enables on-site scan data validation (preregistration) and can be immediately synched to Sphere for registration and collaboration.

Sphere centralizes the collection and management of all 3D data projects and can be accessed by global stakeholders through the secure, single point sign-on. Sphere also provides a one-stop user experience across FARO's leading software applications and customer support tools, including HoloBuilder, a global construction progress management solution that delivers hardware agnostic image capture, registration, and viewing targeted to the fast-growing Digital Twin space. Additional workflows that enable customers to realize even greater value will be offered in future Sphere updates

"Beta customers have found the complete platform solution to dramatically enhance data delivery and analysis, improving their time to decision by up to 50%," continued Burger. "We're excited by the initial feedback, which supports our approach of deeply understanding customer needs to transform how they work in a 3D-enabled virtual world."

"We are very excited to see the advances FARO has made," said Travis Voss, Leader of Innovative Technologies at Helm Mechanical, a US construction company. "The combination of the new Focus Scanner, Stream, and Sphere and how that all flows together is going to cut our scanning and processing time down by 60% easily. This time savings will allow us to examine scanning projects more frequently, scanning projects we normally wouldn't have because of time constraints, and expanding our offerings to customers.

About FARO
FARO serves the 3D Metrology, AEC (Architecture, Engineering & Construction), O&M (Facilities Operations & Maintenance), and Public Safety Analytics markets. For over 40 years, FARO has been a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy, providing industry-leading technology solutions that enable customers to measure their world and use that data to make smarter decisions faster. For more information, visit www.faro.com.

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SOURCE FARO

Contact:
Company Name: FARO
Media Contact: Mark Benhard
Email Contact 407-333-9911 x126.
Financial data for FARO




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