Financial Performance & Growth - Protolabs achieved $504 million in revenue in 2023[6] - The company's Non-GAAP gross margin was 45% in 2023[6] - Adjusted EBITDA reached $83 million in 2023[6] - Protolabs Network revenue experienced a 69% year-over-year growth in constant currencies in 2023[60] - The company's revenue increased by 5% year-over-year, excluding Japan, in 2023[56] Customer Base & Manufacturing - Protolabs has served over 53,000 customer contacts[6,36] - The company has manufactured over 450 million parts to date[6] - Over 85% of Fortune 500 companies in target industries are served by Protolabs[36] - More than 90% of revenue comes from returning customers[44] Market & Outlook - Protolabs operates in a $100 billion+ market[8,14,18] - The company anticipates Q1 2024 revenue between $120 million and $128 million, representing a growth range of -5% to 2% year-over-year[73] - Non-GAAP EPS for Q1 2024 is projected to be between $0.26 and $0.34, indicating a year-over-year growth range of -12% to 15%[73]

Core Points - CPI Aerostructures, Inc. has signed a Long-Term Agreement with MST Manufacturing for component supply until the end of 2028 [1] - The agreement reflects the strong relationship and performance of MST as a critical supplier [2] - CPI Aero is a manufacturer of structural assemblies for various aircraft and is a prime contractor to the U.S. Department of Defense [3] Company Overview - CPI Aero specializes in structural assemblies for fixed wing aircraft, helicopters, and airborne systems in both commercial and national security markets [3] - The company operates as a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers [3] - CPI Aero provides engineering, program management, supply chain management, and MRO services alongside its assembly operations [3] MST Manufacturing Overview - MST Manufacturing is located in Claremore, Oklahoma, with over 75,000 square feet of manufacturing space and more than 110 employees [4] - The company holds AS9100, ISO9001, and ITAR certifications, positioning itself as a leading CNC machining and fabrication company in Oklahoma [4] - MST operates over 60 CNC machines and offers complex machining services, including 5-axis milling and multi-axis turning [4]

May 2, 2025 Q1 2025 Earnings Presentation 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 implied by these for ...

Financial Data and Key Metrics Changes - The company reported revenue of $126 million for Q1 2025, which is down slightly year-over-year but near the upper end of guidance [5][20] - Non-GAAP earnings per share were $0.33, also near the top end of expectations, reflecting solid profitability [5][24] - Free cash flow represented 14% of revenue, indicating continued industry-leading profitability [6] - Non-GAAP gross margin increased by 140 basis points sequentially to 44.8%, although it was down 80 basis points year-over-year [23] Business Line Data and Key Metrics Changes - Revenue from CNC machining grew by 6% year-over-year, driven by strong performance in production [21] - Injection molding revenue declined by 7% year-over-year but increased by 7% compared to the previous quarter [22] - 3D printing revenue was down 6% year-over-year due to lagging order trends [22] - Sheet metal revenue increased by 19% year-over-year, driven by improved offerings [22] Market Data and Key Metrics Changes - U.S. revenue was down 1.2% compared to the prior year, while European revenue was flat in constant currencies [20] - Revenue fulfilled through the Proto Labs Network was $26.3 million, up 11.5% in constant currencies [20] Company Strategy and Development Direction - The company is focused on driving growth through a hybrid model, which has seen customer utilization of combined offerings grow by over 45% [6][7] - Strategic priorities for 2025 include enhancing efficiency, expanding production use cases, and reinforcing the core prototyping business [18] - The company is closely monitoring tariff policies and believes the current situation presents growth opportunities due to its diverse manufacturing footprint [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic headwinds and maintain profitability [6][19] - The current economic uncertainty is causing customers to be cautious about demand forecasting, but the company believes it can adapt quickly [17] - Management anticipates continued growth in Q2 2025, with revenue guidance between $124 million and $132 million [25] Other Important Information - The company has zero debt and $116.3 million in cash and investments on its balance sheet [25] - The company is actively reviewing pricing strategies to offset potential impacts from tariffs [17] Q&A Session Summary Question: Can you elaborate on the sustainability of the recent gross margin improvement? - Management indicated that the improvement was primarily due to increased factory volume, but network margins faced challenges [29][30] Question: Are there concerns regarding the hubs network due to tariffs? - Management reassured that the network is adaptable and has been able to mitigate impacts from tariffs effectively [36][38] Question: What are the trends in order growth and customer behavior in April? - Orders have consistently improved month-to-month, with a higher proportion of revenue going through the network [41][42] Question: Are there any headwinds from materials used due to tariffs? - Management stated that the robust supply chain has mitigated substantial increases in raw material costs due to tariffs [65][66] Question: How does the 3D printing business align with the production parts strategy? - The 3D printing segment is primarily a prototyping service, which has faced headwinds due to a slowdown in new product launches [68][69] Question: Is the company satisfied with its strategy in mature manufacturing markets? - Management expressed confidence in their differentiated offering and the ability to penetrate various industries over time [71]

Proto Labs (PRLB) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Speaker0 As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jason Frankman, Vice President and Corporate Controller. Thank you. You may begin. Speaker1 Thank you, Shamali. Good morning, everyone, and welcome to Proto Labs' first quarter twenty twenty five earnings conference call. I'm joined today by Rob Bedore, president and chief executive officer, and Dan Schumacher, Chief Financial Officer. This ...

Proto Labs (PRLB) Q4 2024 Earnings Call February 07, 2025 08:30 AM ET Company Participants Jason Frankman - Vice President, Corporate ControllerRobert Bodor - President, Chief Executive OfficerDan Schumacher - Chief Financial OfficerTroy Jensen - Managing Director Conference Call Participants Brian Drab - Equity Research AnalystJames Ricchiuti - Senior AnalystGreg Palm - Senior Research Analyst Operator Greetings. Welcome to Proto Labs Second Quarter twenty twenty four Earnings Call. At this time, all parti ...