Proto Labs(US:PRLB)2025-10-31 10:10Financial Performance - Record quarterly revenue of $135.4 million, a 7.8% increase year-over-year from $125.6 million in Q3 2024[6] - Net income was $7.2 million, or $0.30 per diluted share, compared to $7.2 million, or $0.29 per diluted share, in Q3 2024[6] - Non-GAAP net income was $11.4 million, or $0.47 per diluted share, compared to $11.8 million, or $0.47 per diluted share, in Q3 2024[6] - Revenue for the three months ended September 30, 2025, was $135,366, an increase of 7.0% compared to $125,619 in the same period of 2024[28] - Total revenue for the three months ended September 30, 2025, was $135,366,000, representing a 7.8% increase from $125,619,000 in the same period of 2024[34] - Total revenue for the nine months ended September 30, 2025, was $396,634,000, a 4.6% increase from $379,140,000 in 2024[36] Revenue Breakdown - Revenue fulfilled through digital factories was $105.3 million, a 4.9% increase year-over-year[6] - Revenue fulfilled through the Protolabs Network was $30.1 million, a 19.1% increase year-over-year[6] - Revenue from the United States for the three months ended September 30, 2025, was $109,361,000, a 9.8% increase compared to $99,571,000 in 2024[34] - Revenue from CNC Machining for the three months ended September 30, 2025, was $63,043,000, an 18.2% increase from $53,327,000 in 2024[36] - Revenue from Injection Molding for the nine months ended September 30, 2025, was $143,908,000, a decrease of 3.1% from $148,574,000 in 2024[36] Profitability Metrics - Adjusted EBITDA was $21.1 million, or 15.6% of revenue[7] - Non-GAAP gross margin for the three months ended September 30, 2025, was 45.9%, slightly down from 46.2% in the same period of 2024[28] - Non-GAAP operating margin for the three months ended September 30, 2025, was 10.0%, compared to 10.9% in the same period of 2024[30] - GAAP operating margin for the three months ended September 30, 2025, was 6.5%, down from 6.8% in the same period of 2024[30] - Adjusted EBITDA for the nine months ended September 30, 2025, was $58,210, down from $61,429 in 2024, indicating a decrease of about 5.7%[32] Cash Flow and Investments - The company generated $29.1 million in cash from operations, with a cash and investments balance of $138.4 million as of September 30, 2025[7] - Cash and cash equivalents at the end of the period increased to $104,422 from $87,873, marking a rise of approximately 19.7%[24] - The company reported a net cash provided by operating activities of $58,053 for the nine months ended September 30, 2025, compared to $60,535 in 2024, a decrease of about 4.1%[24] - Total cash used in financing activities for the nine months ended September 30, 2025, was $35,887, a decrease from $46,004 in 2024, reflecting a reduction of approximately 22.0%[24] Future Outlook - The company expects fourth quarter 2025 revenue between $125.0 million and $133.0 million[5] - The company expects GAAP diluted net income per share for Q4 2025 to be between $0.12 and $0.20[42] - Non-GAAP diluted net income per share for Q4 2025 is projected to be between $0.30 and $0.38[42] Customer Engagement - Revenue per customer contact increased 14.1% year-over-year to $6,370, with 21,252 customer contacts served during the quarter[7] - Revenue per customer contact for the three months ended September 30, 2025, was $6,370, an increase from $5,580 in 2024[40] - Customer contacts for the three months ended September 30, 2025, were 21,252, down from 22,511 in 2024[40] Overall Strategy - The company is focused on accelerating profitable growth and positioning for long-term shareholder value creation[3] - Net income for the nine months ended September 30, 2025, was $15,242, down from $16,997 in the same period of 2024, representing a decrease of approximately 10.3%[24] - Non-GAAP net income for the nine months ended September 30, 2025, was $29,451, compared to $31,766 in 2024, reflecting a decrease of about 7.3%[25]