This SparkFun Distance Sensor Breakout utilizes the VL53L1X next generation ToF (Time of Flight) sensor module to give you the highly accurate measurements at long ranges for its size. The VL53L1X uses a VCSEL (Vertical Cavity Surface Emitting Laser) to emit an Infrared laser to time the reflection to the target. That means that you will be able to measure the distance to and object from 40mm to 4m away with millimeter resolution.
Each VL53L1X sensor features a precision to be 1mm with an accuracy around +/-5mm and a minimum read distance of this sensor is 4cm. The field of view for this little breakout is fairly narrow at 15°-27° with a read rate of up to 50Hz.
More information is available on the website of Sparkfun.