Logo

PRLB

Proto Labs, Inc.

PRLB

Proto Labs, Inc. • NYSE
$50.82 ▼ -0.08% (-0.04)
Market Cap $1.20 B
52w High $55.90
52w Low $29.59
Dividend Yield 0%
P/E 81.97
Volume 94.34K
Outstanding Shares 23.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $135.366M ▲ $52.442M ▼ $7.216M ▲ 5.331% ▲ $0.3 ▲ $18.68M ▲
Q2-2025 $135.063M ▲ $54.656M ▲ $4.427M ▲ 3.278% ▲ $0.19 ▲ $15.244M ▲
Q1-2025 $126.205M ▲ $51.206M ▲ $3.599M ▲ 2.852% ▲ $0.15 ▲ $14.679M ▲
Q4-2024 $121.75M ▼ $47.867M ▼ $-404K ▼ -0.332% ▼ $-0.017 ▼ $8.542M ▼
Q3-2024 $125.619M $48.65M $7.189M 5.723% $0.29 $18.777M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $119.239M ▲ $756.855M ▲ $92.136M ▲ $664.719M ▲
Q2-2025 $103.186M ▲ $743.252M ▲ $78.545M ▼ $664.707M ▲
Q1-2025 $96.846M ▼ $737.45M ▼ $80.649M ▲ $656.801M ▼
Q4-2024 $103.09M ▲ $743.512M ▼ $73.361M ▼ $670.151M ▼
Q3-2024 $100.511M $753.786M $73.793M $679.993M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $7.216M ▲ $29.09M ▲ $-4.252M ▼ $-10.718M ▼ $14.04M ▲ $30.352M ▲
Q2-2025 $4.427M ▲ $10.584M ▼ $-643K ▲ $-3.242M ▲ $7.69M ▲ $9.116M ▼
Q1-2025 $3.599M ▲ $18.379M ▲ $-2.909M ▼ $-21.927M ▼ $-6.379M ▼ $17.117M ▲
Q4-2024 $-404K ▼ $17.294M ▼ $-2.897M ▲ $-12.546M ▲ $1.198M ▲ $16.464M ▼
Q3-2024 $7.189M $24.754M $-14.348M $-19.092M $-8.276M $31.538M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
3D Printing Fineline
3D Printing Fineline
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
CNC Machining Firstcut
CNC Machining Firstcut
 $50.00M ▲$50.00M ▲$60.00M ▲$60.00M ▲
Injection Molding Protomold
Injection Molding Protomold
 $50.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲
Other Products
Other Products
 $0 ▲$0 ▲$0 ▲$0 ▲
Sheet Metal
Sheet Metal
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been steady to slightly rising over the past few years, but not rapidly growing. Gross profit has held at a fairly consistent level, which suggests the core economics of the business are stable, though not dramatically improving. The main story is on profitability: Proto Labs moved from solid profits, to a sharp loss in 2022, and then back to modest profitability in 2023 and 2024. That rebound is encouraging, but the current profit margins look thin, indicating the company is still working its way back to prior levels of efficiency and pricing power. Overall, the income statement shows a business that is stable, but not yet back to its earlier strength in earnings.

Balance Sheet

Balance Sheet The balance sheet is conservative and relatively clean. The company carries very little debt and is largely funded by shareholders’ equity, which reduces financial risk. Total assets have drifted down from their peak, suggesting some combination of write-downs, disciplined investment, or a leaner operating structure. Cash levels are healthy but not excessive, and lower than a few years ago, so the company appears comfortable but not flush. Overall, financial leverage is low, giving Proto Labs flexibility to navigate industry cycles and continue investing without heavy reliance on borrowing.

Cash Flow

Cash Flow Cash flow is a key strength. Proto Labs has consistently generated positive cash from its operations, even in the year when it reported an accounting loss. That indicates the underlying business still throws off cash, and that the 2022 setback was not purely a cash problem. Capital spending has been meaningful but is trending down, which has boosted free cash flow in recent years. In practical terms, the company is funding its own investments and still has cash left over, which supports ongoing innovation and gives room to maneuver strategically.

Competitive Edge

Competitive Edge Proto Labs occupies a differentiated niche in digital manufacturing, centered on speed, automation, and an easy online experience. Its ability to turn customer designs into parts extremely quickly, combined with automated quoting and design feedback, sets it apart from traditional machine shops. The hybrid model—mixing in-house production with a vetted partner network—offers both quality control and flexibility, which many pure marketplaces cannot fully match. However, the competitive landscape is active, with players like Xometry and others pushing hard, and customers have alternatives. The company’s advantage rests on maintaining superior software, reliability, and turnaround times, while defending margins in what can become a price-sensitive market.

Innovation and R&D

Innovation and R&D Innovation is clearly a core pillar for Proto Labs. The company has built proprietary software, a digital thread through its factories, and a strong automation layer that underpins its service. It is leaning into AI and machine learning to further speed up quoting, scheduling, and production, which, if executed well, can deepen its moat and widen the gap versus slower, more manual competitors. Proto Labs also continues to expand materials, finishes, and capabilities—like new 3D printing options, enhanced machining, and specialized materials for aerospace and medical customers. The risk is that these investments must translate into sustained growth and better margins; the opportunity is that success here can reinforce its role as a go-to partner for rapid prototyping and low- to mid-volume production in high-value industries.

Summary

Proto Labs looks like a mature, niche digital manufacturer with solid cash generation, a conservative balance sheet, and a technology-driven service model. Revenue is steady, not surging, and profitability is in recovery mode after a notable dip, with margins still relatively thin. Financial risk is low thanks to minimal debt and consistent free cash flow, which supports ongoing investment in automation and new capabilities. Competitively, the company’s strength lies in speed, automation, and a strong customer experience, supported by proprietary software and a hybrid manufacturing model. Future performance will likely hinge on its ability to turn its innovation in AI, materials, and network expansion into faster growth and stronger margins, while holding off well-funded competitors in a rapidly evolving digital manufacturing market.

NEWS

November 12, 2025 · 9:00 AM UTC

Protolabs Significantly Expands U.S. Metal 3D Printing Capacity

Read more

October 31, 2025 · 6:00 AM UTC

Protolabs Reports Financial Results for the Third Quarter of 2025

Read more

October 16, 2025 · 9:00 AM UTC

Protolabs Introduces Advanced CNC Machining Capabilities to Accelerate Rapid Prototyping and Product Development

Read more

October 10, 2025 · 9:00 AM UTC

Protolabs Sets Conference Call to Discuss Third Quarter 2025 Financial Results

Read more

October 3, 2025 · 10:30 AM UTC

Protolabs Appoints Marc Kermisch as New Chief Technology and AI Officer

Read more