Proto Labs Inc - PRLB STOCK NEWS

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.

Protolabs has expanded its global CNC machining capabilities to enhance services for product developers and buyers. Customers can now leverage advanced machining options designed to reduce part costs, improve tolerances, and accommodate larger, complex designs through its partnership with Hubs. Key features include volume pricing, tighter tolerances (±0.0008 in.), and various finishing options like plating and anodizing. Parts ranging from 0.02 in. to 40 in. are supported. This development positions Protolabs as a comprehensive provider, offering quick, precise, and tailored solutions for all machining needs.

Protolabs (NYSE: PRLB) announced its financial results release for Q4 and full year 2022, scheduled for February 10, 2023, before market opening. A conference call to discuss these results will be held at 8:30 a.m. EST the same day, accessible via a live audio webcast on their investor relations page. Protolabs specializes in digital manufacturing services including injection molding, CNC machining, 3D printing, and sheet metal fabrication, serving a global client base. Their operations are bolstered by Hubs, enhancing their capacity to deliver innovative manufacturing solutions.

Proto Labs (NYSE: PRLB) reported a revenue of $121.7 million for Q3 2022, down 2.9% year-over-year from $125.3 million in Q3 2021. GAAP EPS was $0.14, while Non-GAAP EPS reached $0.40. The Hubs segment grew by 38.5% to $12.1 million. Despite a gross margin decline from 45.2% to 44.1%, cash from operations was strong at $20.5 million. The company acknowledges challenges in its Injection Molding business but remains optimistic about long-term growth and profitability.

Protolabs (NYSE: PRLB) will announce its third quarter 2022 financial results before market open on November 4, 2022. A conference call to discuss these results is scheduled for 8:30 a.m. EST on the same day, with a live webcast available on the company's investor relations website. Protolabs is a leading provider of digital manufacturing services, including injection molding, CNC machining, and 3D printing, aimed at enhancing speed and service for engineers and product developers globally.

Protolabs (NYSE: PRLB) has appointed Oleg Ryaboy as the new Global Chief Technology Officer, effective September 9, 2022. Ryaboy brings over 12 years of experience from Digital River, where he served as CTO and transformed the company's platform with artificial intelligence and machine learning. The leadership change aims to strengthen Protolabs' position in digital manufacturing, particularly following the launch of a new e-commerce platform and a distributed supplier network. CEO Rob Bodor expressed confidence in Ryaboy's ability to guide the company's future.

Proto Labs reported record revenue of $126.9 million for Q2 2022, up 3.1% from $123.0 million in Q2 2021. GAAP net income was $2.6 million ($0.09 per diluted share) while Non-GAAP net income stood at $12.8 million ($0.46 per diluted share). The company also noted significant growth in Hubs, generating $11.3 million in revenue, a 26.3% increase year-over-year. Gross margin improved to 45.2% from 44.9% in the previous quarter. The conference call for Q2 results and Q3 outlook is scheduled for August 5, 2022.