PRLB earnings analysis
What we found in PRLB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Proto Labs reported Q1 2026 results with revenues of $139.3 million, exceeding expectations of $135.1 million, but EPS at $0.33 fell short of the expected $0.37. The company showed strong year-over-year growth driven primarily by a 19.7% increase in CNC Machining revenue, despite a decrease in unique customer contacts served.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenues increased by $13.1 million or 10.4% YoY to $139.3 million.
- CNC Machining Performance
- CNC Machining revenue grew by 19.7%, contributing significantly to overall revenue growth.
- Improved Gross Margin
- Gross margin improved to 45.6% from 44.1% YoY.
- Net Income Rise
- Net income surged by 125.4% to $8.1 million from $3.6 million YoY.
- Efficiency in Customer Contact
- Despite revenue growth, unique customer contacts fell by 8.3%, indicating a focus on larger clients.
- Positive Operating Cash Flow
- Cash provided by operating activities was $17.5 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Falling Unique Customer Contacts
- Unique customer contacts decreased by 8.3%, potentially indicating reduced demand among smaller clients.
- Increased Operating Expenses
- Operating expenses rose by 5.1%, contributing to pressure on future margins.
- Currency Exposure Risks
- Foreign currency fluctuations impacted revenue; a vast portion of operations could be subject to exchange rate risks.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.33
- Gross margin
- 45.6%
- Operating margin
- 7.1%
- Segment
- CNC Machining
- Segment
- Injection Molding
- Segment
- 3D Printing
- Segment
- Sheet Metal
What they said about what is next.
For Q2 2026, revenue guidance is set at $140.0 - $148.0 million and EPS at $0.29 - $0.37.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 20, 2026
- Proto Labs (PRLB) positions itself as a technology‑enabled digital manufacturer combining in‑house factories and a global partner Network to serve prototyping through low‑volume production. The 10‑K shows modest…
- 10-Q · July 31, 2025
- Proto Labs reported Q2 2025 revenue of $135,063,000, up 7.5% year-over-year, driven by a 12.4% increase in U.S. revenue and strong CNC Machining growth. Gross margin compressed to 44.3% from 45.0% and operating income…
- 10-K · February 21, 2025
- The 10-K emphasizes Proto Labs’ scale and technology-led positioning — the company has manufactured over 617 million parts and analyzed over 16 million unique part designs since inception — and the expansion of its…
- 10-Q · November 7, 2024
- Proto Labs reported revenue of $125.619M for the quarter ended September 30, 2024, down $5.086M (3.9%) versus Q3 2023, with gross margin slightly improving to 45.6% from 45.4% while operating margin compressed to 6.8%…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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