Proto Labs, Inc. (PRLB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.54	$0.6	+11.1%	—	$149.3M	—
Q1 26	$0.39	$0.54	+38.5%	—	$139.3M	—
Q4 25	$0.34	$0.44	+29.4%	—	$136.5M	—
Q3 25	$0.39	$0.47	+20.5%	—	$135.4M	—
Q2 25	$0.34	$0.41	+20.6%	—	$135.1M	—
Q1 25	$0.29	$0.33	+13.8%	—	$126.2M	—
Q4 24	$0.32	$0.38	+18.8%	—	$121.8M	—
Q3 24	$0.32	$0.47	+46.9%	—	$125.6M	—
Q2 24	$0.35	$0.38	+8.6%	—	$125.6M	—
Q1 24	$0.31	$0.4	+29.0%	—	$127.9M	—
Q4 23	$0.31	$0.46	+48.4%	—	$125M	—
Q3 23	$0.3	$0.51	+70.0%	—	$130.7M	—
Q2 23	$0.3	$0.33	+10.0%	—	$122.3M	—
Q1 23	$0.23	$0.3	+30.4%	—	$125.9M	—
Q4 22	$0.21	$0.26	+23.8%	—	$115.6M	—
Q3 22	$0.4	$0.4	0.0%	—	$121.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.89	—	—	$533.1M	—
FY24	—	$0.66	—	—	$500.9M	—
FY23	—	$0.66	—	—	$503.9M	—
FY22	—	-$3.77	—	—	$488.4M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$298.1M	$344.5M	$445.6M	$458.7M	$434.4M	$488.1M	$488.4M	$503.9M	$500.9M	$533.1M
YoY change	+12.9%	+15.6%	+29.3%	+2.95%	-5.3%	+12.4%	+0.06%	+3.17%	-0.59%	+6.44%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	298.1M	344.5M	445.6M	458.7M	434.4M	488.1M	488.4M	503.9M	500.9M	533.1M
Cost of revenue	131.1M	150.6M	206.9M	223.4M	216.6M	265.4M	272.9M	281.9M	277.7M	296M
Gross profit	166.9M	193.8M	238.7M	235.3M	217.8M	222.7M	215.5M	222M	223.2M	237.1M
Gross margin	56%	56.3%	53.6%	51.3%	50.1%	45.6%	44.1%	44.1%	44.6%	44.5%
Research & development	22.4M	23.6M	28.7M	32.7M	36.9M	44.2M	38.2M	40.1M	41.3M	42.8M
Selling, general & administrative	82.8M	98.1M	121M	122.7M	121.1M	138.1M	150.3M	153.5M	156.4M	168.1M
Operating expenses	105.2M	121.6M	149.8M	155.4M	158M	182.3M	188.5M	193.6M	197.7M	210.9M
Operating income	61.8M	72.2M	88.9M	79.9M	59.8M	40.3M	26.9M	28.4M	25.5M	26.2M
Operating margin	20.7%	21%	20%	17.4%	13.8%	8.27%	5.52%	5.63%	5.09%	4.91%
Non-operating income, net	2.5M	2.2M	2.8M	1.3M	3.1M	-158K	-124.8M	-430K	-824K	4.9M
Pretax income	64.2M	74.4M	91.7M	81.2M	62.9M	40.2M	-97.9M	28M	24.7M	31.1M
Income tax	21.5M	22.7M	15.1M	17.5M	12.1M	6.8M	5.6M	10.7M	8.1M	9.8M
Net income	42.7M	51.8M	76.6M	63.7M	50.9M	33.4M	-103.5M	17.2M	16.6M	21.2M
Net margin	14.3%	15%	17.2%	13.9%	11.7%	6.84%	-21.2%	3.42%	3.31%	3.98%
EBITDA	79.3M	90.7M	115.7M	110.7M	92.4M	80.8M	191.3M	66.1M	66.9M	61.1M
EPS	1.62	1.94	2.84	2.37	1.9	1.21	-3.77	0.66	0.66	0.89
Diluted EPS	1.61	1.93	2.81	2.35	1.89	1.21	-3.77	0.66	0.66	0.88

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	130.7M	125M	127.9M	125.6M	125.6M	121.8M	126.2M	135.1M	135.4M	136.5M	139.3M	149.3M
Cost of revenue	71.4M	69.2M	70.4M	69.1M	68.4M	69.8M	70.5M	75.3M	74.1M	76.1M	75.7M	80M
Gross profit	59.3M	55.8M	57.5M	56.5M	57.2M	52M	55.7M	59.8M	61.3M	60.4M	63.6M	69.3M
Gross margin	45.4%	44.6%	44.9%	45%	45.6%	42.7%	44.1%	44.3%	45.3%	44.2%	45.6%	46.4%
Research & development	10.1M	9.5M	11.2M	10.7M	9.8M	9.7M	10.6M	11.2M	10.7M	10.3M	10.5M	10.8M
Selling, general & administrative	38.7M	37.9M	39.5M	39.9M	38.9M	38.2M	40.6M	43.5M	41.7M	42.3M	41.8M	45.3M
Operating expenses	48.8M	47.4M	50.6M	50.5M	48.6M	47.9M	51.2M	54.7M	52.4M	52.6M	52.3M	56.1M
Operating income	10.4M	8.4M	6.8M	6M	8.6M	4.1M	4.5M	5.1M	8.9M	7.7M	11.3M	13.2M
Operating margin	7.99%	6.74%	5.34%	4.78%	6.83%	3.36%	3.56%	3.79%	6.54%	5.67%	8.08%	8.85%
Non-operating income, net	298K	1.5M	899K	1.4M	1.3M	-4.4M	1.5M	1.6M	1.4M	412K	-1.1M	-616K
Pretax income	10.7M	9.9M	7.7M	7.4M	9.9M	-282K	6M	6.7M	10.3M	8.2M	11.3M	12.6M
Income tax	2.8M	2.9M	2.5M	2.8M	2.7M	122K	2.4M	2.2M	3M	2.2M	3.2M	3.5M
Net income	8M	7M	5.3M	4.5M	7.2M	-404K	3.6M	4.4M	7.2M	6M	8.1M	9.2M
Net margin	6.09%	5.59%	4.12%	3.61%	5.72%	-0.33%	2.85%	3.28%	5.33%	4.4%	5.82%	6.13%
EBITDA	19.8M	17.8M	15.9M	15M	17.5M	18.5M	13.1M	13.8M	17.3M	16.8M	20.8M	23.2M
EPS	0.31	0.27	0.21	0.18	0.29	-0.02	0.15	0.19	0.3	0.25	0.34	0.38
Diluted EPS	0.31	0.27	0.2	0.18	0.29	-0.02	0.15	0.18	0.3	0.25	0.33	0.37

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.4B	2.7B	3B	2.7B	4.1B	1.4B	699.8M	1B	981M	1.2B	2.3B
Enterprise value	1.2B	2.7B	2.9B	2.6B	4B	1.3B	641M	922.9M	881.4M	1.1B	2.2B
Shares outstanding	26.4M	26.6M	27M	26.9M	26.7M	27.6M	27.4M	26.2M	25.1M	23.9M	23.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	31.7	53	39.7	42.9	80.6	42.5	—	59.2	59.1	57	76
P/S	4.54	7.97	6.83	5.95	9.44	2.91	1.43	2.02	1.96	2.27	4.09
P/B	3.56	5.95	5.62	4.66	6.37	1.71	1	1.47	1.46	1.8	3.31
EV/EBITDA	15.7	29.3	25.2	23.3	42.8	16.7	3.35	14	13.2	17.8	29.2
EV/Sales	4.18	7.71	6.53	5.62	9.1	2.76	1.31	1.83	1.76	2.04	3.86
Earnings yield	3.15%	1.89%	2.52%	2.33%	1.24%	2.35%	—	1.69%	1.69%	1.76%	1.32%
FCF yield	3.24%	1.79%	1.18%	1.97%	1.46%	1.48%	5.77%	4.43%	7%	4.93%	1.8%
PEG	—	—	—	—	—	—	—	—	—	—	0.76

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	56%	56.3%	53.6%	51.3%	50.1%	45.6%	44.1%	44.1%	44.6%	44.5%	46.4%
Operating margin	20.7%	21%	20%	17.4%	13.8%	8.27%	5.52%	5.63%	5.09%	4.91%	8.85%
Net margin	14.3%	15%	17.2%	13.9%	11.7%	6.84%	-21.2%	3.42%	3.31%	3.98%	5.44%
ROE	11.2%	11.2%	14.1%	10.9%	7.89%	4.03%	-14.8%	2.48%	2.48%	3.15%	4.49%
ROA	10.3%	9.98%	12.4%	9.45%	6.84%	3.59%	-12.9%	2.23%	2.23%	2.78%	3.35%
ROIC	15.1%	13.5%	18.1%	14.3%	9.75%	4.42%	4.22%	2.92%	3.01%	3.26%	5.37%
Return on tangible assets	12.2%	23.2%	23.8%	16.7%	11.1%	65%	-54%	9.94%	10.9%	11.9%	14.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	6.74	3.77	4.08	4.97	4.82	3.34	2.61	4.04	3.66	3.49	3.64
Quick ratio	6.34	3.51	3.89	4.76	4.6	3.1	2.42	3.76	3.43	3.27	3.43
Debt / equity	—	0.01	0	0.02	0.02	0.01	0.03	0.01	0.01	0	0
Debt / assets	—	0.01	0	0.02	0.02	0.01	0.03	0.01	0	0	0
Net debt / EBITDA	—	-0.98	-1.14	-1.34	-1.61	-0.87	-0.31	-1.47	-1.49	-2.05	-1.8
Effective tax rate	33.5%	30.4%	16.4%	21.6%	19.2%	17%	0%	38.4%	32.7%	31.6%	28%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.3	12.9	16.5	17.1	16.2	17.7	17.8	19.2	20	22.3	23.5
EPS (basic)	1.62	1.94	2.84	2.37	1.9	1.21	-3.77	0.66	0.66	0.89	0.89
EPS (diluted)	1.61	1.93	2.81	2.35	1.89	1.21	-3.77	0.66	0.66	0.88	1.26
Book value per share	14.4	17.3	20.1	21.8	24.1	30	25.5	26.6	26.7	28.2	28.9
FCF per share	1.66	1.84	1.33	2	2.24	0.76	1.47	1.72	2.74	2.49	2.32
Cash per share	4.11	3.53	4.88	5.98	6.05	2.81	2.92	3.93	4.11	5.36	5.97
Capex per share	1.28	1.22	3.23	2.32	1.76	1.24	0.64	1.05	0.36	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	11.3%	9.47%	19.5%	13.6%	10.8%	7.01%	3.6%	5.44%	1.82%	—	—
Capex / operating cash flow	44%	44.3%	76%	52.1%	45.1%	55.6%	-30%	40.9%	12.2%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$130.7M	$125M	$127.9M	$125.6M	$125.6M	$121.8M	$126.2M	$135.1M	$135.4M	$136.5M	$139.3M	$149.3M
YoY change	+7.38%	+8.17%	+1.61%	+2.75%	-3.89%	-2.64%	-1.32%	+7.51%	+7.76%	+12.1%	+10.4%	+10.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	108.3M	94.1M	131.8M	160.7M	161.7M	77.5M	80.1M	102.8M	103.1M	128.1M
Receivables	34.1M	51.5M	59.2M	57.5M	57.9M	80.1M	76.2M	72.8M	66.5M	79M
Inventory	9.3M	11.3M	10.1M	10.1M	10.9M	13.2M	13.6M	13.7M	12.3M	14.4M
Total current assets	157.8M	165M	215.4M	236.4M	242M	183.5M	186.6M	200.7M	194.9M	233.5M
Property, plant & equipment	91M	116.5M	155.2M	199.3M	217.6M	180.6M	173.7M	126.2M	93.5M	77.8M
Goodwill & intangibles	63.1M	295.2M	297.2M	292.2M	286.2M	877.2M	610.5M	599.1M	590.8M	585.2M
Total assets	414.2M	518.7M	619M	673.7M	744.2M	928.6M	802.2M	772.4M	743.5M	763.4M
Accounts payable	11.3M	15.9M	17.4M	16.8M	18.2M	25.4M	17.4M	15.6M	15.5M	15.1M
Short-term debt	—	5M	—	3.3M	3.8M	3.8M	19.1M	1.9M	1.6M	1.4M
Total current liabilities	23.4M	43.8M	52.7M	47.6M	50.3M	54.9M	71.6M	49.7M	53.3M	67M
Long-term debt	—	—	0	8.6M	9.5M	3.6M	2.3M	3.6M	1.9M	1.6M
Total liabilities	34.4M	57.5M	77.5M	87.9M	99.8M	100.1M	104.5M	77.1M	73.4M	89.5M
Shareholders' equity	379.8M	461.2M	541.5M	585.8M	644.4M	828.5M	697.6M	695.3M	670.2M	673.9M
Total debt	—	5M	0	11.9M	13.3M	7.4M	21.4M	5.5M	3.5M	3M
Net debt	—	-31.7M	-85M	-113.3M	-114.3M	-58.5M	-35.2M	-78.3M	-85.6M	-107.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	102.7M	102.8M	109.7M	112.9M	100.5M	103.1M	96.8M	103.2M	119.2M	128.1M	136.3M	142.8M
Receivables	78.4M	72.8M	77.8M	70.9M	69.5M	66.5M	73.9M	78M	77.8M	79M	85.6M	95.1M
Inventory	13.8M	13.7M	12.8M	12.4M	12.4M	12.3M	13.2M	13.2M	14.1M	14.4M	14.9M	15.4M
Total current assets	204.5M	200.7M	210.4M	207.6M	193.1M	194.9M	194.4M	205.5M	225.8M	233.5M	248.6M	266.2M
Property, plant & equipment	262.5M	126.2M	252.9M	248.3M	242.2M	93.5M	224.3M	218.6M	213.8M	77.8M	212.3M	209.9M
Goodwill & intangibles	601.3M	599.1M	596.8M	594.8M	593.8M	590.8M	589.5M	589M	587.1M	585.2M	583M	581.2M
Total assets	784.2M	772.4M	769.8M	758.2M	753.8M	743.5M	737.5M	743.3M	756.9M	763.4M	778.6M	791.3M
Accounts payable	17.9M	15.6M	15.3M	15.9M	15M	15.5M	16.3M	15.6M	17.4M	15.1M	19.6M	21.5M
Short-term debt	18.2M	1.9M	1.8M	1.8M	1.8M	1.6M	1.4M	1.3M	1.3M	1.4M	1.2M	1.1M
Total current liabilities	74.6M	49.7M	58.4M	50.9M	53.8M	53.3M	62.1M	62.2M	69.7M	67M	70.7M	73.2M
Long-term debt	2.2M	3.6M	3.1M	2.6M	2.3M	1.9M	1.7M	1.5M	1.2M	1.6M	1.4M	1.2M
Total liabilities	99.3M	77.1M	82.5M	73M	73.8M	73.4M	80.6M	78.5M	92.1M	89.5M	95.4M	99.6M
Shareholders' equity	684.9M	695.3M	687.3M	685.2M	680M	670.2M	656.8M	664.7M	664.7M	673.9M	683.1M	691.7M
Total debt	20.4M	5.5M	5M	4.5M	4.1M	3.5M	3.1M	2.8M	2.4M	3M	2.6M	2.2M
Net debt	-63.1M	-78.3M	-87.8M	-91.7M	-83.8M	-85.6M	-79.5M	-87.6M	-102M	-107.8M	-121.4M	-125.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	42.7M	51.8M	76.6M	63.7M	50.9M	33.4M	-103.5M	17.2M	16.6M	21.2M
Depreciation & amortization	17.5M	18.5M	26.8M	30.9M	32.6M	40.5M	39.4M	37.5M	35.8M	33.8M
Stock-based compensation	6.8M	8.6M	10.9M	10.8M	14.7M	19.1M	17.5M	16M	17M	15.7M
Change in working capital	8.1M	-6.1M	-11M	7.7M	-1.2M	-19.4M	-2.7M	2.8M	10.7M	-14.4M
Operating cash flow	76.3M	73.7M	114.6M	119.5M	104.2M	61.5M	-58.6M	67.1M	75M	74.5M
Capital expenditure	-33.6M	-32.6M	-87.1M	-62.2M	-47M	-34.2M	-17.6M	-27.4M	-9.1M	—
Investing cash flow	-60.8M	-124M	-63.3M	-44.3M	-95.5M	-94.7M	-43.1M	-4.6M	-13.6M	598K
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	-4.4M	-14.4M	-36M	-18.1M	-27.5M	-31.3M	-45.4M	-62.3M	-46.4M
Financing cash flow	-400K	5.6M	-19.4M	-36M	-18.3M	-22.2M	-27.9M	-41.9M	-58.5M	-40.4M
Net change in cash	15.2M	-44.6M	31.9M	39.2M	-9.6M	-55.4M	-129.6M	20.7M	2.8M	34.7M
Free cash flow	43.9M	49.1M	35.8M	53.8M	60M	21M	40.4M	45.2M	68.7M	59.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	8M	7M	5.3M	4.5M	7.2M	-404K	3.6M	4.4M	7.2M	6M	8.1M	9.2M
Depreciation & amortization	9.3M	9.3M	9.1M	9M	8.9M	8.8M	8.7M	8.6M	8.4M	8.1M	8.1M	8.1M
Stock-based compensation	4.4M	4.2M	4.3M	4.2M	4.2M	4.3M	4M	4.3M	3.7M	3.8M	3.2M	4.1M
Change in working capital	-887K	593K	467K	7.7M	3M	4.9M	-3.6M	-1.9M	-4.5M	-678K	-2.2M	-7.1M
Operating cash flow	17.4M	22.8M	16.9M	23.6M	21.4M	18.5M	11.1M	10.6M	29.1M	16.5M	17.5M	15.4M
Capital expenditure	-3M	-18.2M	-2.6M	-4.2M	-1.6M	-830K	-1.3M	—	—	—	—	—
Investing cash flow	2.1M	-13.4M	4.4M	-754K	-14.3M	-2.9M	-2.9M	825K	-1M	2.4M	-2.5M	-1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-9M	-4.9M	-16.5M	-12.3M	-19M	-14.4M	-22.1M	-5M	-12.8M	-6.5M	-2.9M	-8.1M
Financing cash flow	-9.1M	-5M	-16.6M	-12.4M	-19.1M	-14.5M	-21.9M	-5M	-12.8M	-6.6M	658K	-8.2M
Net change in cash	10.4M	4.5M	4.7M	10.5M	-12.1M	1.1M	-13.7M	6.4M	15.3M	12.2M	15.7M	6.2M
Free cash flow	21.1M	-953K	18.8M	10.2M	23.2M	16.5M	17.1M	9.1M	25M	8.4M	14M	9.2M

Proto Labs, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement