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    Protolabs Reports Financial Results for the First Quarter of 2025

    5/2/25 6:00:00 AM ET
    $PRLB
    Metal Fabrications
    Industrials
    Get the next $PRLB alert in real time by email

    Total Revenue of $126.2 Million

    GAAP Earnings Per Share of $0.15, Non-GAAP Earnings Per Share of $0.33

    Proto Labs, Inc. ("Protolabs" or the "Company") (NYSE:PRLB), the world's leading provider of digital manufacturing services, today announced financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights:

    • Revenue was $126.2 million, a 1.3% decrease compared to revenue of $127.9 million in the first quarter of 2024.
    • Revenue fulfilled through the Protolabs Network was $26.3 million, a 10.0% increase compared to the first quarter of 2024.
    • Net income was $3.6 million, or $0.15 per diluted share, compared to $5.3 million, or $0.20 per diluted share, in the first quarter of 2024.
    • Non-GAAP net income was $8.1 million, or $0.33 per diluted share, compared to $10.4 million, or $0.40 per diluted share, in the first quarter of 2024. See "Non-GAAP Financial Measures" below.

    "Protolabs started the year strong, with revenue and earnings per share near the top of our guidance range and increases in both the number of customers utilizing our combined factory and network offer and spend per customer," said Rob Bodor, President and Chief Executive Officer. "Our first quarter performance establishes a solid foundation for growth in 2025. We are continuing to evolve Protolabs beyond prototyping and into production by enhancing our manufacturing capabilities, unlocking value from our reorganized internal operating structure, and serving our customers more efficiently across the product lifecycle."

    "As the tariff landscape evolves, we believe we are well positioned to continue serving our customers through our geographically diverse factory and network fulfillment model," continued Bodor. "Protolabs has a proven track record of adapting faster than anyone to support our customers in times of supply chain disruption, and we are prepared to capitalize on emerging opportunities as the global landscape continues to shift."

    Dan Schumacher, Chief Financial Officer, commented: "Our industry-leading profitability and cash flow generation, combined with zero debt on our balance sheet, strongly position us to invest in growth and navigate periods of uncertainty. We continued to return capital to shareholders during the quarter by repurchasing $20.9 million of common stock."

    Additional First Quarter 2025 Highlights:

    • Customer contact information
      • Protolabs served 21,627 customer contacts during the quarter.
      • Revenue per customer contact increased 2.5% year-over-year to $5,836.
    • EBITDA was $13.6 million. See "Non-GAAP Financial Measures" below.
    • Adjusted EBITDA was $17.4 million, or 13.8% of revenue, compared to $20.2 million, or 15.8% of revenue, in 2024. See "Non-GAAP Financial Measures" below.
    • Cash and investments balance was $116.3 million as of March 31, 2025.

    Second Quarter 2025 Outlook

    In the second quarter of 2025, the Company expects to generate revenue between $124.0 million and $132.0 million.

    The Company expects second quarter 2025 diluted net income per share between $0.11 and $0.19, and non-GAAP diluted net income per share between $0.30 and $0.38. See "Non-GAAP Financial Measures" below.

    Non-GAAP Financial Measures

    The Company has included non-GAAP revenue growth by region and by service line that excludes the impact of changes in foreign currency exchange rates (collectively, "non-GAAP revenue growth"). Management believes these metrics, when viewed in conjunction with the comparable GAAP metrics, are useful in evaluating the underlying business trends and ongoing operating performance of the Company.

    The Company has included earnings before interest, taxes, depreciation and amortization ("EBITDA") and EBITDA, adjusted for stock-based compensation expense, unrealized (gain) loss on foreign currency and benefits related to exit and disposal activities (collectively, "Adjusted EBITDA"), in this press release to provide investors with additional information regarding the Company's financial results. The Company has also included earnings before interest, taxes, depreciation and amortization margin ("EBITDA margin") and EBITDA margin, adjusted for stock-based compensation expense, unrealized (gain) loss on foreign currency and benefits related to exit and disposal activities (collectively, "Adjusted EBITDA margin"), in this press release to provide investors with additional information regarding the Company's financial results.

    The Company has included non-GAAP gross margin, adjusted for stock-based compensation expense and amortization expense, in this press release to provide investors with additional information regarding the Company's financial results.

    The Company has included non-GAAP operating margin, adjusted for stock-based compensation expense, amortization expense and benefits related to exit and disposal activities (collectively, "non-GAAP operating margin"), in this press release to provide investors with additional information regarding the Company's financial results.

    The Company has included non-GAAP net income and non-GAAP net income per share, in each case, adjusted for stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency and benefits related to exit and disposal activities (collectively, "non-GAAP net income"), in this press release to provide investors with additional information regarding the Company's financial results.

    The Company has provided below reconciliations of GAAP to non-GAAP net income, non-GAAP net income per share, non-GAAP gross margin, non-GAAP operating margin, non-GAAP revenue growth by region and by service line, and Adjusted EBITDA and Adjusted EBITDA margin, the most directly comparable measures calculated and presented in accordance with GAAP. These non-GAAP measures are used by the Company's management and board of directors to understand and evaluate operating performance and trends, provide useful measures for period-to-period comparisons of the Company's business, and in determining executive and senior management incentive compensation. Accordingly, the Company believes that these non-GAAP measures provide useful information to investors and others in understanding and evaluating operating results in the same manner as our management and board of directors. These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP. These non-GAAP financial measures exclude significant expenses and income that are required by GAAP to be recorded in our condensed consolidated financial statements and are subject to inherent limitations. Investors should review the reconciliations of non-GAAP financial measures to the comparable GAAP financial measures that are included in this press release.

    Conference Call

    The Company has scheduled a conference call to discuss its first quarter 2025 financial results and second quarter 2025 outlook today, May 2, 2025 at 8:30 a.m. EDT. To access the call in the U.S. please dial 877-709-8150 or outside the U.S. dial 201-689-8354 at least five minutes prior to the 8:30 a.m. EDT start time. No participant code is required. A simultaneous webcast of the call and accompanying presentation will be available via the investor relations section of the Protolabs website and the following link: https://edge.media-server.com/mmc/p/ngihgh3z/. A replay will be available for 14 days following the call on the investor relations section of the Protolabs website.

    About Protolabs

    Protolabs is the fastest and most comprehensive manufacturing service from prototyping to production. Our digital factories produce low-volume parts in days while Protolabs Network unlocks advanced capabilities and volume pricing through its highly vetted manufacturing partners. The result? One digital manufacturing source for product developers, engineers, and supply chain teams across the globe. See what's next at protolabs.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical or current facts are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Protolabs to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are described in the "Risk Factors" section within reports filed with the SEC. Other unknown or unpredictable factors also could have material adverse effects on Protolabs' future results. The forward-looking statements included in this press release are made only as of the date hereof. Protolabs cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Protolabs expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.

    Proto Labs, Inc.

    Condensed Consolidated Balance Sheets

    (In thousands)

     

     

     

     

     

     

     

     

    March 31,

    2025

     

    December 31,

    2024

     

     

    (Unaudited)

     

     

    Assets

     

     

     

     

    Current assets

     

     

     

     

    Cash and cash equivalents

     

    $

    82,692

     

    $

    89,071

    Short-term marketable securities

     

     

    14,154

     

     

    14,019

    Accounts receivable, net

     

     

    73,904

     

     

    66,504

    Inventory

     

     

    13,202

     

     

    12,305

    Income taxes receivable

     

     

    864

     

     

    2,906

    Prepaid expenses and other current assets

     

     

    9,594

     

     

    10,049

    Total current assets

     

     

    194,410

     

     

    194,854

     

     

     

     

     

    Property and equipment, net

     

     

    221,207

     

     

    227,263

    Goodwill

     

     

    273,991

     

     

    273,991

    Other intangible assets, net

     

     

    20,775

     

     

    21,422

    Long-term marketable securities

     

     

    19,425

     

     

    17,773

    Operating lease assets

     

     

    2,461

     

     

    2,993

    Finance lease assets

     

     

    625

     

     

    692

    Other long-term assets

     

     

    4,556

     

     

    4,524

    Total assets

     

    $

    737,450

     

    $

    743,512

     

     

     

     

     

    Liabilities and shareholders' equity

     

     

     

     

    Current liabilities

     

     

     

     

    Accounts payable

     

    $

    16,288

     

    $

    15,504

    Accrued compensation

     

     

    18,554

     

     

    16,550

    Accrued liabilities and other

     

     

    24,172

     

     

    19,621

    Current operating lease liabilities

     

     

    1,132

     

     

    1,287

    Current finance lease liabilities

     

     

    312

     

     

    309

    Income taxes payable

     

     

    1,634

     

     

    —

    Total current liabilities

     

     

    62,092

     

     

    53,271

     

     

     

     

     

    Long-term operating lease liabilities

     

     

    1,491

     

     

    1,633

    Long-term finance lease liabilities

     

     

    207

     

     

    287

    Long-term deferred tax liabilities

     

     

    12,062

     

     

    13,565

    Other long-term liabilities

     

     

    4,797

     

     

    4,605

     

     

     

     

     

    Shareholders' equity

     

     

    656,801

     

     

    670,151

    Total liabilities and shareholders' equity

     

    $

    737,450

     

    $

    743,512

     

     

     

     

     

    Proto Labs, Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except share and per share amounts)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Revenue

     

     

     

     

    Injection Molding

     

    $

    48,723

     

     

    $

    52,663

    CNC Machining

     

     

    52,843

     

     

     

    49,932

    3D Printing

     

     

    20,194

     

     

     

    21,582

    Sheet Metal

     

     

    4,211

     

     

     

    3,553

    Other Revenue

     

     

    234

     

     

     

    160

    Total Revenue

     

     

    126,205

     

     

     

    127,890

     

     

     

     

     

    Cost of revenue

     

     

    70,507

     

     

     

    70,423

    Gross profit

     

     

    55,698

     

     

     

    57,467

     

     

     

     

     

    Operating expenses

     

     

     

     

    Marketing and sales

     

     

    23,749

     

     

     

    23,160

    Research and development

     

     

    10,609

     

     

     

    11,167

    General and administrative

     

     

    16,848

     

     

     

    16,313

    Benefits related to exit and disposal activities

     

     

    (39

    )

     

     

    —

    Total operating expenses

     

     

    51,167

     

     

     

    50,640

    Income from operations

     

     

    4,531

     

     

     

    6,827

    Other income, net

     

     

    1,454

     

     

     

    899

    Income before income taxes

     

     

    5,985

     

     

     

    7,726

    Provision for income taxes

     

     

    2,386

     

     

     

    2,458

    Net income

     

    $

    3,599

     

     

    $

    5,268

     

     

     

     

     

    Net income per share:

     

     

     

     

    Basic

     

    $

    0.15

     

     

    $

    0.21

    Diluted

     

    $

    0.15

     

     

    $

    0.20

     

     

     

     

     

    Shares used to compute net income per share:

     

     

     

     

    Basic

     

     

    24,135,320

     

     

     

    25,624,949

    Diluted

     

     

    24,435,844

     

     

     

    25,784,987

     

     

     

     

     

    Proto Labs, Inc.

    Condensed Consolidated Statements of Cash Flows

    (In thousands)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Operating activities

     

     

     

     

    Net income

     

    $

    3,599

     

     

    $

    5,268

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

     

    Depreciation and amortization

     

     

    8,694

     

     

     

    9,103

     

    Stock-based compensation expense

     

     

    3,992

     

     

     

    4,276

     

    Deferred taxes

     

     

    (1,552

    )

     

     

    (2,247

    )

    Interest on finance lease obligations

     

     

    6

     

     

     

    10

     

    Impairments related to exit and closure of facilities

     

     

    219

     

     

     

    —

     

    Gain on disposal of property and equipment

     

     

    —

     

     

     

    (22

    )

    Other

     

     

    43

     

     

     

    63

     

    Changes in operating assets and liabilities

     

     

    3,378

     

     

     

    4,887

     

    Net cash provided by operating activities

     

     

    18,379

     

     

     

    21,338

     

     

     

     

     

     

    Investing activities

     

     

     

     

    Purchases of property, equipment and other capital assets

     

     

    (1,262

    )

     

     

    (2,587

    )

    Proceeds from sales of property, equipment and other capital assets

     

     

    —

     

     

     

    22

     

    Purchases of marketable securities

     

     

    (6,552

    )

     

     

    —

     

    Proceeds from call redemptions and maturities of marketable securities

     

     

    4,905

     

     

     

    6,984

     

    Net cash (used in) provided by investing activities

     

     

    (2,909

    )

     

     

    4,419

     

     

     

     

     

     

    Financing activities

     

     

     

     

    Proceeds from issuance of common stock from equity plans

     

     

    287

     

     

     

    —

     

    Purchases of shares withheld for tax obligations

     

     

    (1,248

    )

     

     

    (533

    )

    Repurchases of common stock

     

     

    (20,890

    )

     

     

    (16,013

    )

    Principal repayments of finance lease obligations

     

     

    (76

    )

     

     

    (73

    )

    Net cash used in financing activities

     

     

    (21,927

    )

     

     

    (16,619

    )

    Effect of exchange rate changes on cash and cash equivalents

     

     

    78

     

     

     

    (124

    )

    Net (decrease) increase in cash and cash equivalents

     

     

    (6,379

    )

     

     

    9,014

     

    Cash and cash equivalents, beginning of period

     

     

    89,071

     

     

     

    83,790

     

    Cash and cash equivalents, end of period

     

    $

    82,692

     

     

    $

    92,804

     

     

     

     

     

     

    Proto Labs, Inc.

    Reconciliation of GAAP to Non-GAAP Net Income and Non-GAAP Net Income per Share

    (In thousands, except share and per share amounts)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Non-GAAP net income, adjusted for stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency and benefits related to exit and disposal activities

     

     

     

     

    GAAP net income

     

    $

    3,599

     

     

    $

    5,268

     

    Add back:

     

     

     

     

    Stock-based compensation expense

     

     

    3,992

     

     

     

    4,276

     

    Amortization expense

     

     

    908

     

     

     

    987

     

    Unrealized (gain) loss on foreign currency

     

     

    (135

    )

     

     

    237

     

    Benefit related to exit and disposal activities

     

     

    (39

    )

     

     

    —

     

    Total adjustments 1

     

     

    4,726

     

     

     

    5,500

     

    Income tax benefits on adjustments 2

     

     

    (242

    )

     

     

    (354

    )

    Non-GAAP net income

     

    $

    8,083

     

     

    $

    10,414

     

     

     

     

     

     

     

     

     

     

     

    Non-GAAP net income per share:

     

     

     

     

    Basic

     

    $

    0.33

     

     

    $

    0.41

     

    Diluted

     

    $

    0.33

     

     

    $

    0.40

     

     

     

     

     

     

    Shares used to compute non-GAAP net income per share:

     

     

     

     

    Basic

     

     

    24,135,320

     

     

     

    25,624,949

     

    Diluted

     

     

    24,435,844

     

     

     

    25,784,987

     

     

     

     

     

     

    1

     

    Stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency and benefits related to exit and disposal activities were included in the following GAAP consolidated statement of operations categories:

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

     

     

     

     

     

    Cost of revenue

     

    $

    802

     

     

    $

    801

     

     

     

     

     

    Marketing and sales

     

     

    778

     

     

     

    833

    Research and development

     

     

    625

     

     

     

    692

    General and administrative

     

     

    2,695

     

     

     

    2,937

    Benefit related to exit and disposal activities

     

     

    (39

    )

     

     

    —

    Total operating expenses

     

     

    4,059

     

     

     

    4,462

     

     

     

     

     

    Other income (loss), net

     

     

    (135

    )

     

     

    237

    Total adjustments

     

    $

    4,726

     

     

    $

    5,500

     

     

     

     

     

    2

    For the three months ended March 31, 2025 and 2024, income tax effects were calculated using the effective tax rate for the relevant jurisdictions. The Company's non-GAAP tax rates differ from its GAAP tax rates due primarily to the mix of activity incurred in domestic and foreign tax jurisdictions and removing effective tax rate benefits from stock-based compensation activity in the quarter.

     

    Proto Labs, Inc.

    Reconciliation of GAAP to Non-GAAP Gross Margin

    (In thousands)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Revenue

     

    $

    126,205

     

     

    $

    127,890

     

    Gross profit

     

     

    55,698

     

     

     

    57,467

     

    GAAP gross margin

     

     

    44.1

    %

     

     

    44.9

    %

    Add back:

     

     

     

     

    Stock-based compensation expense

     

     

    460

     

     

     

    459

     

    Amortization expense

     

     

    342

     

     

     

    342

     

    Total adjustments

     

     

    802

     

     

     

    801

     

    Non-GAAP gross profit

     

    $

    56,500

     

     

    $

    58,268

     

    Non-GAAP gross margin

     

     

    44.8

    %

     

     

    45.6

    %

     

     

     

     

     

    Proto Labs, Inc.

    Reconciliation of GAAP to Non-GAAP Operating Margin

    (In thousands)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Revenue

     

    $

    126,205

     

     

    $

    127,890

     

    Income from operations

     

     

    4,531

     

     

     

    6,827

     

    GAAP operating margin

     

     

    3.6

    %

     

     

    5.3

    %

    Add back:

     

     

     

     

    Stock-based compensation expense

     

     

    3,992

     

     

     

    4,276

     

    Amortization expense

     

     

    908

     

     

     

    987

     

    Benefit related to exit and disposal activities

     

     

    (39

    )

     

     

    —

     

    Total adjustments

     

     

    4,861

     

     

     

    5,263

     

    Non-GAAP income from operations

     

    $

    9,392

     

     

    $

    12,090

     

    Non-GAAP operating margin

     

     

    7.4

    %

     

     

    9.5

    %

     

     

     

     

     

    Proto Labs, Inc.

    Reconciliation of GAAP Net Income to EBITDA and Adjusted EBITDA

    (In thousands)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Revenue

     

    $

    126,205

     

     

    $

    127,890

     

    GAAP net income

     

     

    3,599

     

     

     

    5,268

     

    GAAP net income margin

     

     

    2.9

    %

     

     

    4.1

    %

    Add back:

     

     

     

     

    Amortization expense

     

    $

    908

     

     

    $

    987

     

    Depreciation expense

     

     

    7,786

     

     

     

    8,116

     

    Interest income, net

     

     

    (1,108

    )

     

     

    (1,112

    )

    Provision for income taxes

     

     

    2,386

     

     

     

    2,458

     

    EBITDA

     

     

    13,571

     

     

     

    15,717

     

    EBITDA Margin

     

     

    10.8

    %

     

     

    12.3

    %

    Add back:

     

     

     

     

    Stock-based compensation expense

     

     

    3,992

     

     

     

    4,276

     

    Unrealized (gain) loss on foreign currency

     

     

    (135

    )

     

     

    237

     

    Benefit related to exit and disposal activities

     

     

    (39

    )

     

     

    —

     

    Total adjustments

     

     

    3,818

     

     

     

    4,513

     

    Adjusted EBITDA

     

    $

    17,389

     

     

    $

    20,230

     

    Adjusted EBITDA Margin

     

     

    13.8

    %

     

     

    15.8

    %

     

     

     

     

     

    Proto Labs, Inc.

    Comparison of GAAP to Non-GAAP Revenue Growth by Region

    (In thousands)

    (Unaudited)

       

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31, 2025

     

    Three Months Ended

    March 31, 2024

     

    %

    Change2

     

    % Change

    Organic3

     

     

    GAAP

     

    Foreign

    Currency1

     

    Non-GAAP

     

    GAAP

     

     

    Revenues

     

     

     

     

     

     

     

     

     

     

     

     

    United States

     

    $

    100,267

     

    $

    —

     

    $

    100,267

     

    $

    101,481

     

    (1.2

    %)

     

    (1.2

    %)

    Europe

     

     

    25,938

     

     

    463

     

     

    26,401

     

     

    26,409

     

    (1.8

    )

     

    —

     

    Total revenue

     

    $

    126,205

     

    $

    463

     

    $

    126,668

     

    $

    127,890

     

    (1.3

    %)

     

    (1.0

    %)

     

     

     

     

     

     

     

     

     

     

     

     

     

    1

     

    Revenue for the three months ended March 31, 2025 has been recalculated using 2024 foreign currency exchange rates in effect during comparable periods to provide information useful in evaluating the underlying business trends excluding the impact of changes in foreign currency exchange rates.

    2

     

    This column presents the percentage change from GAAP revenue for the three months ended March 31, 2024 to GAAP revenue for the three months ended March 31, 2025.

    3

     

    This column presents the percentage change from GAAP revenue for the three months ended March 31, 2024 to non-GAAP revenue for the three months ended March 31, 2025 (as recalculated using the foreign currency exchange rates in effect during the three months ended March 31, 2024) in order to provide a constant-currency comparison.

     

    Proto Labs, Inc.

    Comparison of GAAP to Non-GAAP Revenue Growth by Service Line

    (In thousands)

    (Unaudited)

     
     

     

     

    Three Months Ended

    March 31, 2025

     

    Three Months Ended

    March 31, 2024

     

    %

    Change2

     

    % Change

    Organic3

     

     

    GAAP

     

    Foreign

    Currency1

     

    Non-GAAP

     

    GAAP

     

     

    Revenues

     

     

     

     

     

     

     

     

     

     

     

     

    Injection Molding

     

    $

    48,723

     

    $

    81

     

    $

    48,804

     

    $

    52,663

     

    (7.5

    %)

     

    (7.3

    %)

    CNC Machining

     

     

    52,843

     

     

    305

     

     

    53,148

     

     

    49,932

     

    5.8

     

     

    6.4

     

    3D Printing

     

     

    20,194

     

     

    64

     

     

    20,258

     

     

    21,582

     

    (6.4

    )

     

    (6.1

    )

    Sheet Metal

     

     

    4,211

     

     

    10

     

     

    4,221

     

     

    3,553

     

    18.5

     

     

    18.8

     

    Other Revenue

     

     

    234

     

     

    3

     

     

    237

     

     

    160

     

    46.3

     

     

    48.1

     

    Total revenue

     

    $

    126,205

     

    $

    463

     

    $

    126,668

     

    $

    127,890

     

    (1.3

    %)

     

    (1.0

    %)

    1

     

    Revenue for the three months ended March 31, 2025 has been recalculated using 2024 foreign currency exchange rates in effect during comparable periods to provide information useful in evaluating the underlying business trends excluding the impact of changes in foreign currency exchange rates.

    2

     

    This column presents the percentage change from GAAP revenue for the three months ended March 31, 2024 to GAAP revenue for the three months ended March 31, 2025. 

    3

     

    This column presents the percentage change from GAAP revenue for the three months ended March 31, 2024 to non-GAAP revenue for the three months ended March 31, 2025 (as recalculated using the foreign currency exchange rates in effect during the three months ended March 31, 2024) in order to provide a constant-currency comparison.

     

    Proto Labs, Inc.

    Customer Contact Information

    (In thousands, except customer contacts and per customer contact amounts)

    (Unaudited)

     

     

     

     

     

     

     

     

    Three Months Ended

    March 31,

     

     

    2025

     

    2024

    Revenue

     

    $

    126,205

     

    $

    127,890

    Customer contacts

     

     

    21,627

     

     

    22,466

    Revenue per customer contact1

     

    $

    5,836

     

    $

    5,693

     

     

     

     

     

    1

     

    Revenue per customer contact is calculated using the revenue recognized during the respective period divided by the actual number of customer contacts served during the same period. Customer contacts are product developers, engineers, procurement and supply chain professionals and other individuals who place an order, and that order is shipped and invoiced during the period. The Company believes revenue per customer contact is useful to investors in evaluating the underlying business trends and ongoing operating performance of the Company.

         

    Proto Labs, Inc.

    Reconciliation of GAAP to Non-GAAP Guidance

    (Unaudited)

     

     

     

     

     

     

     

     

    Q2 2025 Outlook

     

     

    Low

     

    High

    GAAP diluted net income per share

     

    $

    0.11

     

    $

    0.19

    Add back:

     

     

     

     

    Stock-based compensation expense

     

     

    0.16

     

     

    0.16

    Amortization expense

     

     

    0.03

     

     

    0.03

    Unrealized (gain) loss on foreign currency

     

     

    0.00

     

     

    0.00

    Total adjustments

     

     

    0.19

     

     

    0.19

    Non-GAAP diluted net income per share

     

    $

    0.30

     

    $

    0.38

     

     

     

     

     

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250502106569/en/

    Investor Relations Contacts:

    Protolabs

    Ryan Johnsrud, 612-225-4873

    Manager – Investor Relations and FP&A

    [email protected]

    Gateway Group, Inc.

    949-574-3860

    [email protected]

    Media Contact:

    Protolabs

    Brent Renneke, 763-479-7704

    Marketing Communications Manager

    [email protected]

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