A year ago, Proto Labs was losing money. It's not losing money anymore.3-D products printer Proto Labs (PRLB +19.00%) stock exploded Friday, gaining 19% 10:20 a.m. ET after beating earnings in its Q4 report.Analysts forecast Proto Labs would earn $0.34 per share, adjusted for one-time items, on sales of $129.1 million in Q4. Instead, Proto Labs earned $0.44 per share (adjusted) on sales of $136.5 million -- beating on both top and bottom lines. Proto Labs Q4 earningsProto Labs grew Q4 sales 12% year over y ...

Proto Labs (NYSE:PRLB) Q4 2025 Earnings call February 06, 2026 08:30 AM ET Company ParticipantsBrian Drab - Co-Group Head of IndustrialsDan Schumacher - CFORyan Johnsrud - Manager of Investor RelationsSuresh Krishna - President and CEOTroy Jensen - Managing DirectorConference Call ParticipantsGreg Palm - Senior Research AnalystJim Ricchiuti - Senior AnalystOperatorGreetings, and welcome to Protolabs' fourth quarter and full year 2025 earnings call. At this time, all participants are on a listen-only mode. A ...

Proto Labs (NYSE:PRLB) Q4 2025 Earnings call February 06, 2026 08:30 AM ET Company ParticipantsBrian Drab - Co-Group Head of IndustrialsDan Schumacher - CFORyan Johnsrud - Manager of Investor RelationsSuresh Krishna - President and CEOTroy Jensen - Managing DirectorConference Call ParticipantsGreg Palm - Senior Research AnalystJim Ricchiuti - Senior AnalystOperatorGreetings, and welcome to Protolabs' Fourth Quarter and Full Year 2025 Earnings Call. At this time, all participants are on a listen-only mode. A ...

Financial Data and Key Metrics Changes - Fourth quarter revenue reached a record $136.5 million, up 11% year-over-year in constant currencies, marking the first sequential revenue growth from Q3 to Q4 since 2017 [18] - Full-year revenue for 2025 was a record $533.1 million, up 5.7% in constant currencies [20] - Non-GAAP gross margin for the fourth quarter was 44.8%, an increase of 140 basis points year-over-year [19] - Non-GAAP earnings per share for the fourth quarter were $0.44, up $0.06 year-over-year [20] Business Line Data and Key Metrics Changes - CNC revenue in the U.S. grew 35% in the fourth quarter and 25% year-over-year for 2025, driven by strong demand in innovation-led industries [18][21] - Injection molding revenue declined 1.9% in 2025, impacted by weakness in medical device demand [21] - 3D printing revenue declined 4.7% year-over-year, although metal 3D printing showed strength with double-digit growth [22] Market Data and Key Metrics Changes - U.S. revenue grew 9.1% year-over-year, while European revenue declined 7% in constant currencies [21] - The company noted strong momentum in data centers and aerospace and defense markets, which are expected to drive future growth [5][6] Company Strategy and Development Direction - The company aims to serve customers across the entire life cycle of a part, from prototype through production, focusing on four strategic pillars: elevate customer experience, accelerate innovation, expand production, and drive operational efficiency [6][10] - The establishment of a global capability center in India is intended to enhance innovation and support global operations [12][56] - The company plans to implement new go-to-market strategies in Europe to stabilize margins and reset the cost base for growth [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for 2026, anticipating a year of transformation and growth, with expectations for revenue growth of 6%-8% [25] - The company is focused on improving customer experience and operational efficiency to drive long-term growth and profitability [10][17] Other Important Information - The company generated $74.5 million in cash from operations in 2025, leading the digital manufacturing industry in cash generation [24] - The company has no debt and ended 2025 with $142.4 million in cash and investments [24] Q&A Session Summary Question: Insights on Q4 performance and sequential growth - Management noted that Q4 saw good order volumes, but January started with a more normalized, softer demand [30] Question: Details on end markets and applications - Management confirmed strong growth in innovation-led markets such as aerospace and defense, with Protolabs positioned as a key partner [33] Question: Strategic initiatives and their timing - Management indicated that the current year is focused on transformation, with results expected to accelerate in the coming years [34] Question: Unique developers and revenue per contact - Management highlighted a focus on increasing revenue per contact, with a 23% increase in Q4 [41] Question: U.S. supply chains for defense - Management acknowledged good exposure to aerospace and defense but did not provide specifics on reshoring discussions [42][45] Question: Injection molding growth visibility - Management is pivoting towards production in injection molding, supported by new certifications and pilot programs with medical device manufacturers [52] Question: Advanced CNC capabilities impact - Management reported early positive performance from newly launched advanced CNC capabilities, indicating customer demand [54] Question: India capability center focus - The India center aims to leverage technical talent to support global business and innovation initiatives [56]

Q4 & FY 2025 Q4 2025 Financial Highlights February 6, 2026 Forward-looking Statements and Non-GAAP Measures 2 • These slides may contain forward-looking statements. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or imp ...

Revenue Performance - Record quarterly revenue of $136.5 million, a 12.1% increase year-over-year[1] - Record annual revenue of $533.1 million, a 6.4% increase year-over-year[1] - Total revenue for the three months ended December 31, 2025, was $136.493 million, a 12.1% increase from $121.750 million in the same period of 2024[22] - For the full year 2025, total revenue was $533.127 million, a 6.4% increase from $500.890 million in 2024[34] - The revenue growth in the United States for Q4 2025 was 15.9%, reaching $111.986 million, while Europe experienced a decline of 2.6%[34] Profitability - Net income for Q4 2025 was $6.0 million, or $0.25 per diluted share, compared to a net loss of $(0.4) million in Q4 2024[5] - Non-GAAP net income for Q4 2025 was $10.7 million, or $0.44 per diluted share, compared to $9.4 million, or $0.38 per diluted share in Q4 2024[5] - Net income for the twelve months ended December 31, 2025, was $21.241 million, compared to $16.593 million in 2024, reflecting a 28.0% year-over-year increase[24] - Non-GAAP net income for the twelve months ended December 31, 2025, was $40.200 million, slightly down from $41.168 million in 2024[25] - GAAP net income for Q4 2025 was $5.999 million, compared to a loss of $0.404 million in Q4 2024, resulting in a GAAP net income margin of 4.4%[32] Operating Metrics - Cash generated from operations was $74.5 million in 2025[5] - Operating expenses for the three months ended December 31, 2025, totaled $53.572 million, compared to $53.452 million in the same period of 2024[22] - The company reported a non-GAAP operating margin of 9.1% for Q4 2025, compared to 7.6% in Q4 2024[30] - Adjusted EBITDA for Q4 2025 was $19.939 million, with an adjusted EBITDA margin of 14.6%, up from $16.861 million and 13.8% in Q4 2024[32] Cash and Investments - Cash and investments balance was $142.4 million as of December 31, 2025[5] - Cash and cash equivalents at the end of the period were $110.826 million, up from $89.071 million at the beginning of the period[24] - The company invested $14.842 million in property, equipment, and other capital assets during the twelve months ended December 31, 2025[24] Customer Metrics - Customer contacts decreased to 19,621 in Q4 2025 from 21,558 in Q4 2024, while revenue per customer contact increased to $6,956 from $5,648[40] - The company reported a total of 48,415 customer contacts for the full year 2025, down from 51,552 in 2024[40] Future Outlook - Protolabs expects revenue growth between 6% and 8% in fiscal year 2026[12] - For Q1 2026, Protolabs expects revenue between $130.0 million and $138.0 million[12] - The company expects Q1 2026 GAAP diluted net income per share to be between $0.18 and $0.26, with non-GAAP diluted net income per share projected between $0.36 and $0.44[42] Segment Performance - CNC Machining revenue grew 25.0% year-over-year in Q4 2025[5] - The CNC Machining segment generated $65.496 million in revenue for Q4 2025, a significant increase from $52.389 million in Q4 2024[22] - The CNC Machining service line saw a revenue increase of 25.0% in Q4 2025, reaching $65.496 million compared to $52.389 million in Q4 2024[36] Gross Profit - Gross profit for the same period was $60.372 million, resulting in a gross margin of 44.2%, up from 42.7% in Q4 2024[28]

Core Insights - Proto Labs, Inc. reported strong momentum in Q4 2025, achieving accelerated growth, record revenue, and solid earnings [1] Financial Performance - The company closed 2025 with record revenue and solid earnings in the fourth quarter [1] - The financial results indicate a positive trajectory for the company as it heads into 2026 [1] Future Outlook - 2026 is highlighted as a pivotal year for transformation and acceleration for the company [1]

Proto Labs ( PRLB ) has pioneered the field of manufacturing-as-a-service. The firm helps its customers deliver on-demand manufacturing (avoiding overstocking or shortages on the other end), reduced lead time (rapid production and delivery), and, finally, design complexity (thanks to itsHello readers! Passionate about technology, my focus will be on finding and analyzing companies that can play a relevant role in today's geopolitics, leverage their IP, and eventually, with time, become new leaders. Therefor ...

Proto Labs ( PRLB ) has pioneered the field of manufacturing-as-a-service. The firm helps its customers deliver on-demand manufacturing (avoiding overstocking or shortages on the other end), reduced lead time (rapid production and delivery), and, finally, design complexity (thanks to itsHello readers! Passionate about technology, my focus will be on finding and analyzing companies that can play a relevant role in today's geopolitics, leverage their IP, and eventually, with time, become new leaders. Therefor ...

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