Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35435 Proto Labs, Inc. (Exact name of Registrant as specified in its charter) (State or other jur ...

Financial Data and Key Metrics Changes - Fourth quarter revenue was $115.6 million, representing a 1% decrease year-over-year in constant currencies and excluding Japan [27] - Non-GAAP gross margin decreased by 200 basis points sequentially to 42.8% due to lower volume and growth in longer lead time offerings [32] - Full year 2022 non-GAAP diluted net income per share was $1.50 compared to $1.55 in 2021, reflecting lower gross margin partially offset by lower operating expenses [37] Business Line Data and Key Metrics Changes - Injection Molding revenue declined approximately 12% year-over-year at constant currencies and excluding Japan [31] - CNC Machining revenue grew double digits year-over-year at constant currencies and excluding Japan, driven by outperformance in longer lead time offerings [31] - Hubs revenue in the fourth quarter was $14.8 million, representing year-over-year growth of 49.6% or 56.5% in constant currencies [27] Market Data and Key Metrics Changes - In the Americas, fourth quarter revenue decreased 5.8% year-over-year, primarily due to weakness in Injection Molding parts orders [30] - In Europe, fourth quarter revenue grew 19.9% year-over-year in constant currencies, driven by strong growth in CNC Machining and 3D Printing services [30] Company Strategy and Development Direction - The company is focusing on two priority areas for growth: Injection Molding and CNC services, aiming to drive growth through a sharper focus on fewer priorities [7][15] - The strategy includes accelerating the innovation pipeline and launching new offerings at a faster pace [9][20] - The company plans to return capital to shareholders at an accelerated rate through stock repurchases, reflecting confidence in the long-term outlook [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2023, citing focused investments and positive momentum in key areas [9][24] - The company acknowledged challenges in 2022 due to macroeconomic factors and internal issues but is committed to improving earnings and operating margins [8][21] - Management highlighted the importance of addressing customer needs and enhancing service offerings to drive growth [14][58] Other Important Information - The company incurred $534,000 in GAAP operating expenses related to the closure of its Japan business during the fourth quarter [28] - A noncash goodwill impairment charge of $118 million was recorded due to rising interest rates and macroeconomic challenges, which does not impact cash position [35] Q&A Session Summary Question: Comments on revenue guidance and January performance - Management noted solid customer return in January, reflecting in the revenue guidance [45] Question: Turnaround for Injection Molding business - Management discussed the cyclical nature of the Injection Molding business and the need to drive growth through molds and new capabilities [46][49] Question: Impact of lower priority areas on profitability - Management clarified that while investments are being made in other services, the focus is on higher-margin areas to drive overall business growth [51][53] Question: Progress on customer understanding of longer lead time orders - Management indicated that sales teams are actively promoting the ability to compete for longer lead time orders, with traction expected to increase [79] Question: Outlook for gross margins and Hubs business - Management expects flat to slightly up margins in Q1, with potential risks from a mix shift towards lower margin areas [60][71]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35435 Proto Labs, Inc. (Exact name of registrant as specified in its charter) Minnesota 41-1939628 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or (State ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2022 was $121.7 million, a decrease of 2.9% year-over-year, and near the bottom end of guidance [33] - Non-GAAP gross margin decreased by 110 basis points sequentially to 44.8%, primarily due to lower volume in injection molding [37] - Non-GAAP diluted net income per share was $0.40, down from $0.46 in the prior quarter, attributed to overall volume and lower internal manufacturing gross margin [41] Business Line Data and Key Metrics Changes - Injection molding revenue declined by 12.3% year-over-year in constant currencies, significantly impacting overall revenue [36] - CNC machining revenue grew by 12.4% year-over-year, while 3D printing revenue increased by 11% year-over-year in constant currencies [36] - Hubs generated $12.1 million in revenue, representing a growth of 38.5% year-over-year, with constant currency growth at 50.1% [34] Market Data and Key Metrics Changes - Revenue in the Americas decreased by 1.2% year-over-year, while Europe saw a growth of 14% year-over-year in constant currencies [35] - The closure of the Japan business is expected to have a $3.5 million negative year-over-year impact on revenue growth [43] Company Strategy and Development Direction - The company is focusing on accelerating revenue growth, particularly in injection molding and expanding integrated offerings [26] - Plans include enhancing go-to-market strategies and improving e-commerce capabilities to drive growth in injection molding [12][63] - The company aims to be a global leader at scale by launching enhancements to digital manufacturing technology and increasing automation [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in long-term strategy despite near-term disruptions and macroeconomic uncertainty [31] - The company anticipates continued pressure on gross margins due to lower revenue in the fourth quarter [48] - Feedback from customers indicates uncertainty in demand levels, with some projects being put on hold due to budget constraints [56][57] Other Important Information - Oleg Ryaboy was appointed as Chief Technology Officer, expected to positively impact the business [23] - The U.S. injection molding facility was named the 2022 best plant by Industry Week, highlighting competitiveness and customer satisfaction [25] Q&A Session Summary Question: What do you see in the near term in terms of gross profit margin? - Management expects more pressure on gross profit margin in Q4 due to lower revenue [48] Question: Can you provide insights on the integration of Proto Labs 2.0? - The first component of the integrated offer was launched, enabling customers to see parts fulfilled through both digital factory and network [50] Question: What are you seeing in October that gives you caution for Q4 guidance? - Management noted softness in injection molding continuing into Q4, with shorter lead time services experiencing additional softening [56][58] Question: What sectors are seeing caution from key customers? - Management identified automotive and medical sectors as experiencing softness, with some projects being put on hold [70] Question: How is the company addressing the weakness in injection molding? - The company is implementing aggressive sales actions and expanding offerings to include longer lead times [62][63] Question: Are CNC machining and 3D printing taking share from injection molding? - Management does not believe CNC and 3D printing are taking share from injection molding, as their applications are different [79] Question: What opportunities exist in the EV product development pipeline? - Management sees growing opportunities in EV product development for prototyping and advancing technologies [81]

Earnings Presentation Q3 2022 ▸November 4, 2022 1 Forward-Looking Statements and Non-GAAP Measures ▸ These slides and accompanying oral presentation 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 achie ...

1 Earnings Presentation Q2 2022 ▸August 5, 2022 Safe Harbor ▸ These slides and accompanying oral presentation 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 implied by these f ...

Proto Labs, Inc. (NYSE:PRLB) Q2 2022 Results Earnings Conference Call August 5, 2022 8:30 AM ET Company Participants Jason Frankman - Vice President and Corporate Controller Robert Bodor - President and Chief Executive Officer Dan Schumacher - Chief Financial Officer Conference Call Participants Brian Drab - William Blair Jim Ricchiuti - Needham & Company Greg Palm - Craig-Hallum Capital Group Operator Greetings. And welcome to Proto Labs Second Quarter 2022 Earnings Conference Call. At this time, all parti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35435 Proto Labs, Inc. (Exact name of registrant as specified in its charter) Minnesota 41-1939628 (State or o ...

Proto Labs, Inc. (NYSE:PRLB) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET Company Participants Jason Frankman - Vice President, Corporate Controller Robert Bodor - President, Chief Executive Officer Daniel Schumacher - Interim Chief Financial Officer Conference Call Participants Brian Drab - William Blair Danny Eggerichs - Craig Hallum Jim Ricchiuti - Needham & Co. Ben Rose - Battle Road Research Operator Greetings and welcome to Proto Labs Q1 2022 Earnings Conference Call. At this time, all part ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35435 Proto Labs, Inc. (Exact name of registrant as specified in its charter) Minnesota 41-1939628 (State or ...