PROTO LABS, INC. - PRLB STOCK NEWS

Protolabs appoints Sean Farrell as Vice President of Sales for the Americas, aiming to shape strategic sales strategy and tailor manufacturing offer to customer needs.

Proto Labs, Inc. reported a revenue of $122.3 million in the second quarter of 2023, a 3.7% decrease compared to the same period last year. However, revenue generated from the digital network powered by Hubs saw a significant growth of 79.3% year-over-year and 17.6% sequentially. The company had a net loss of $0.4 million in Q2 2023, resulting in a loss per share of $0.01. On a non-GAAP basis, the company reported a net income of $8.7 million, or $0.33 per diluted share. Gross margin was 43.4% of revenue, and non-GAAP gross margin was 44.1% of revenue. The company served 23,377 unique product developers during the quarter and repurchased $9.0 million of shares. Cash and investments balance stood at $102.8 million as of June 30, 2023.

Protolabs (NYSE: PRLB) will release its financial results for the second quarter of 2023 on August 4, 2023. A call to discuss the results will be held at 8:30 a.m. EDT on the same day. The live call can be accessed by dialing 877-709-8150 (U.S.) or 201-689-8354 (outside U.S.) at least five minutes prior to the start time. An audio replay will be available on the Protolabs website.

Protolabs (NYSE: PRLB) will release its financial results for Q1 2023 on May 5, 2023, before market opening. A conference call to discuss these results will take place at 8:30 a.m. EDT on the same day. Investors can access the call by dialing 877-709-8150 (or 201-689-8354 for international calls) at least five minutes prior. The call will be available for replay on their investor relations website approximately two hours post-call. Protolabs offers advanced digital manufacturing services, enabling rapid production of low-volume parts through a network of manufacturing partners. For more information, visit protolabs.com.

Protolabs has enhanced its digital manufacturing capabilities by launching a new model that integrates its digital factories with a global supplier network. This innovation allows product developers and buyers to access cost-effective and advanced manufacturing services, including CNC machining, injection molding, and 3D printing. The new system promises improved tolerances and larger production capacities, addressing the need for quick-turn parts and volume production amid budget constraints. Customers can now leverage these services via Protolabs and Hubs' online platforms.

Protolabs (NYSE: PRLB) has introduced automated design feedback for 3D-printed parts through its online quoting platform, enhancing its design for additive manufacturability (DfAM) analysis. This feature allows engineers to optimize designs pre-production, potentially reducing costs and speeding up product development.

Alongside the DfAM analysis, the company has expanded its 3D printing material options, now offering silicone in various hardness levels and vapor smoothing for select materials. These updates reflect Protolabs' commitment to broadening its manufacturing capabilities and improving customer experience.

Proto Labs reported fourth quarter 2022 revenue of $115.6 million, a decline of 6.5% from $123.6 million in Q4 2021. The full year 2022 revenue reached a record $488.4 million. A net loss of $115.1 million was attributed to a goodwill impairment charge of $118 million, translating to a loss of $4.24 per diluted share. Despite challenges, revenue from the digital network powered by Hubs grew 49.6% year-over-year. The board authorized an increase in the share repurchase program to $250 million, with $132.3 million remaining for repurchases. CEO Rob Bodor highlighted ongoing strategic investments for growth in 2023.