Proto Labs Inc ( (PRLB) ) has released its Q3 earnings. Here is a breakdown of the information Proto Labs Inc presented to its investors.
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Proto Labs, Inc., a leader in digital manufacturing services, is renowned for its rapid prototyping and production solutions that cater to product developers, engineers, and supply chain teams globally. In the third quarter of 2024, Proto Labs reported a total revenue of $125.6 million, marking a 3.9% decrease from the previous year’s record revenue. The company, however, saw an 11.6% increase in revenue from its Protolabs Network, highlighting a strong performance in that segment.
The company’s financial performance revealed a GAAP earnings per share of $0.29 and a non-GAAP earnings per share of $0.47. Net income for the quarter stood at $7.2 million, slightly down from $8.0 million in the same period last year. The adjusted EBITDA was $21.9 million, representing 17.4% of revenue, which is a slight decline compared to the previous year.
Despite the decline in certain areas, Proto Labs demonstrated resilience through its robust business model, generating its highest quarterly operating cash flow since 2020. This reinforces the company’s profitability and ability to navigate macroeconomic challenges, bolstered by its unique factory and network model.
Looking ahead, Proto Labs expects fourth-quarter revenue to range between $115 million and $123 million, with diluted net income per share projected between $0.10 and $0.18. The company remains focused on driving growth and creating value for its shareholders through strategic investments and structural reorganization.
