Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €76.00, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 13x in the Machinery industry in Germany. Total returns to shareholders of 193% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €44.29 per share. Reported Earnings • Aug 02
Second quarter 2026 earnings released: EPS: US$0.38 (vs US$0.18 in 2Q 2025) Second quarter 2026 results: EPS: US$0.38 (up from US$0.18 in 2Q 2025). Revenue: US$149.3m (up 11% from 2Q 2025). Net income: US$9.15m (up 107% from 2Q 2025). Profit margin: 6.1% (up from 3.3% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Proto Labs, Inc. Provides Earnings Guidance for the Third Quarter of the year 2026 Proto Labs, Inc. provided earnings guidance for the third quarter of the year 2026. For the quarter, the company expects revenue between $145.0 million and $153.0 million, GAAP diluted net income per share between $0.34 and $0.42. Announcement • Jul 10
Proto Labs, Inc. to Report Q2, 2026 Results on Jul 31, 2026 Proto Labs, Inc. announced that they will report Q2, 2026 results Pre-Market on Jul 31, 2026 Announcement • Jul 07
Protolabs Expands On-Demand Manufacturing Capabilities to Support Drone Manufacturers Protolabs has expanded its manufacturing capabilities to support drone manufacturers amid the industry’s rapid growth. Expanded capabilities span quick-turn CNC machining for end-use metal and plastic parts with tighter tolerances, greater precision and broader functional and cosmetic finishes alongside advanced 3D printing technologies that give drone engineering teams greater design freedom to produce lightweight components that meet strict performance requirements. Since 2023, revenue from Protolabs’ drone customers has grown more than 90% with a Compound Annual Growth Rate of nearly 40%, highlighting strong and sustained demand from drone manufacturers for rapid, on-demand production. Protolabs’ expertise in high-mix, low-volume manufacturing with quality at speed aligns with the needs of the drone industry, which requires continuous design iteration, customized payloads, and adaptable hardware. To better support these demands and tight production timelines, the company has expanded its quick-turn CNC machining capabilities, enabling end-use metal and plastic parts with tighter tolerances for greater precision, as well as a broader range of functional and cosmetic finishes, delivered within days. These capabilities support advanced hardware and precision components used in the design and operation of high-performance drones. Protolabs’ manufacturing footprint includes the U.S.-based International Traffic in Arms Regulations (ITAR)-registered facilities, as well as AS9100- and ISO9001-certified machining and 3D printing sides designed for high-requirement parts. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. President, CEO & Director Suresh Krishna was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 20
Chief Operations Officer recently sold €509k worth of stock On the 12th of May, Michael Kenison sold around 9k shares on-market at roughly €59.86 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Announcement • May 10
Protolabs Announces Executive Changes Protolabs announced the appointment of Bernardo Parlange as Chief Commercial Officer (CCO), effective May 18, 2026. In this newly created role, Parlange will oversee Protolabs’ global commercial strategy, including sales, marketing, and customer success. He will focus on supporting the digital manufacturer’s next phase of growth by strengthening relationships with large strategic customers and deepening engagement across the entire customer base. Additionally, he will be responsible for helping to accelerate revenue performance across all segments, while supporting Protolabs’ broader priorities of elevating the customer experience, fostering innovation, expanding production, and promoting operational efficiency. Parlange brings more than 20 years of experience leading B2B industrial commercial teams and scaling organizations operating in complex, multi-market environments. Most recently, he served as Senior Vice President of Sales & Marketing at Fortrex, a Blackstone portfolio company and leading food safety and hygiene solutions provider serving food manufacturing, food distribution, and retail environments. Prior to Fortrex, Parlange spent 14 years at Ecolab, where he held a variety of leadership roles and a decade before that in project management and engineering positions at ZF Group, a global technology supplier of advanced mobility products and systems. His experience spans traditional industrial environments as well as digital and SaaS-based platforms, and in businesses operating across multiple countries. Separately, Protolabs also announced the planned retirement of Mike Kenison, Chief Operations Officer, effective July 1, 2026. Kenison joined Protolabs in 2006 and went on to hold several senior operational leadership roles across the company. During his tenure, Kenison played a significant role in expanding Protolabs’ operations to four manufacturing services, nine global factories, and more than 1 million sq. ft. of manufacturing space. Announcement • Apr 10
Proto Labs, Inc. to Report Q1, 2026 Results on May 01, 2026 Proto Labs, Inc. announced that they will report Q1, 2026 results Pre-Market on May 01, 2026 Announcement • Feb 17
Protolabs Introduces ProDesk, an AI-Enabled Manufacturing Platform to Accelerate Projects from Prototyping to Production Protolabs announced that ProDesk by Protolabs provides an all-in-one resource that accelerates innovation for product development and procurement teams with real-time, AI-powered quoting with design for manufacturability (DFM) analysis, seamless collaboration across teams, and a suite of tools that support prototyping and production projects. ProDesk features AI-driven DFM analysis across injection molding, CNC machining, and 3D printing services for instant feedback on parts before they reach the production floor. Configurable quotes include material options, secondary operations, and finishes for real-time quotes. Lead times are also configured within the quote, allowing users to tailor quotes depending on turn-time needs and budget. As customers advance through the product development timeline, ProDesk's Production Catalog lets users designate parts that are ready for production and simplifies management, organization, and re ordering of those parts. Through each stage of the ordering process, ProDesk is optimized for collaboration. All quotes and orders can be shared across teams to monitor order status and track shipments. The Production Catalog can also be shared with colleagues to instantly view and reorder parts, as well as to access order history, documentation, and part details. ProDesk's support center provides a central hub for assistance around orders, documents, billing, and quality documentation. The support center also provides direct communication to Protolabs' team of applications engineers for design assistance, along with service line-specific guides with DFM information. The new online platform brings each of these features into an interactive dashboard with real-time updates on recent orders, providing vital information upon login. Announcement • Feb 06
Proto Labs, Inc. Provides Earnings Guidance for the First Quarter and Fiscal Year 2026 Proto Labs, Inc. provided earnings guidance for the first quarter and fiscal year 2026. For the quarter, the company expects to generate revenue between $130.0 million and $138.0 million. The Company expects diluted net income per share between $0.17 and $0.25. Announcement • Jan 16
Proto Labs, Inc. to Report Q4, 2025 Results on Feb 06, 2026 Proto Labs, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 06, 2026 Announcement • Oct 31
Proto Labs, Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2025 Proto Labs, Inc. provided earnings guidance for the fourth quarter ended December 31, 2025. In the fourth quarter of 2025, the company expected to generate revenue between $125.0 million and $133.0 million. The company expected fourth quarter 2025 diluted net income per share between $0.12 and $0.20. Announcement • Oct 16
Protolabs Introduces Advanced CNC Machining Capabilities to Accelerate Rapid Prototyping and Product Development Protolabs has announced the launch of advanced features within its automated CNC machining service, designed to empower engineers and product developers with reliable, high-quality milled parts at speed. The expanded offer gives customers access to end-use metal and plastic parts with tighter tolerances for added precision, diverse finishes to strengthen and cosmetically improve parts, plus fast and comprehensive quality documentation. Parts ordered with these features are shipped in as fast as five days from ITAR- and AS9100-compliant facility. The digital manufacturer's comprehensive machining service is tailored for rapid prototyping and product development, from early-stage iterations to late-stage design validation. For industries such as aerospace and defense that are experiencing increasing demand, Protolabs' controlled ITAR-registered and AS9100-certified facilities ensure quality standards are strictly followed. Key benefits to engineers and product teams include: Rapid turnaround and reliable delivery; Mass customization with no minimum order quantity restrictions; High-mix, low-volume needs; In-house manufacturing expertise and dedicated customer service and sales support throughout the process; Full documentation including quality reports, FAIs, and CoC; Intuitive quoting platform with real-time pricing and lead time adjustments; Acceptance of 2D technical drawings at time of quote. Announcement • Oct 10
Proto Labs, Inc. to Report Q3, 2025 Results on Oct 31, 2025 Proto Labs, Inc. announced that they will report Q3, 2025 results Pre-Market on Oct 31, 2025 Announcement • Oct 03
Protolabs Announces Executive Changes Protolabs announced Marc Kermisch as its new Chief Technology and AI Officer, effective October 13, 2025. Kermisch will lead Protolabs’ global technology organization and succeeds previous CTO, Oleg Ryaboy, who has departed the company. Kermisch brings 25+ years of senior executive experience at technology and R&D organizations across diverse industries including manufacturing, software, and retail. Most recently, he served as CTO for Emergent Software, a full-stack technology company specializing in software development, cloud transformation, artificial intelligence (AI), and data engineering solutions. Prior to Emergent, he was Global Chief Digital and Information Officer at Case New Holland, a $20 billion manufacturer of agriculture and construction equipment where he focused on developing autonomous vehicles, precision farming applications, and electric powertrains. Kermisch has also held executive leadership positions at Optum Rx, Bluestem Brands, and Red Wing Shoe Company, among others, and presently sits on the Board of Directors at American AgCredit and Crew Carwash. Announcement • Jul 31
Proto Labs, Inc. Provides Earnings Guidance for Third Quarter of 2025 Proto Labs, Inc. provided earnings guidance for third quarter of 2025. For the period, the company expects to generate revenue between $130.0 million and $138.0 million. The Company expects third quarter 2025 diluted net income per share between $0.17 and $0.25. Announcement • Jul 10
Proto Labs, Inc. to Report Q2, 2025 Results on Jul 31, 2025 Proto Labs, Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 31, 2025 Announcement • Apr 12
Proto Labs, Inc., Annual General Meeting, May 20, 2025 Proto Labs, Inc., Annual General Meeting, May 20, 2025. Announcement • Apr 11
Proto Labs, Inc. to Report Q1, 2025 Results on May 02, 2025 Proto Labs, Inc. announced that they will report Q1, 2025 results Pre-Market on May 02, 2025 Announcement • Jan 17
Proto Labs, Inc. to Report Q4, 2024 Results on Feb 07, 2025 Proto Labs, Inc. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Feb 07, 2025 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to €36.04, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 10x in the Machinery industry in Germany. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.83 per share. New Risk • Nov 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 12% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 12% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (8.1% average weekly change). Announcement • Nov 02
Proto Labs, Inc. Provides Earnings Guidance for the Fourth Quarter of 2024 Proto Labs, Inc. provided earnings guidance for the fourth quarter of 2024. For the period, the company expects to generate revenue between $115 million and $123 million, diluted net income per share between $0.10 and $0.18, and non-GAAP diluted net income per share between $0.28 and $0.36. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.29 (vs US$0.31 in 3Q 2023) Third quarter 2024 results: EPS: US$0.29 (down from US$0.31 in 3Q 2023). Revenue: US$125.6m (down 3.9% from 3Q 2023). Net income: US$7.19m (down 9.6% from 3Q 2023). Profit margin: 5.7% (down from 6.1% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 22% per year. Announcement • Oct 11
Proto Labs, Inc. to Report Q3, 2024 Results on Nov 01, 2024 Proto Labs, Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 01, 2024 New Risk • Aug 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: US$0.18 (vs US$0.015 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.18 (up from US$0.015 loss in 2Q 2023). Revenue: US$125.6m (up 2.8% from 2Q 2023). Net income: US$4.54m (up US$4.92m from 2Q 2023). Profit margin: 3.6% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €26.88, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 12x in the Machinery industry in Germany. Total loss to shareholders of 61% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €45.92 per share. Announcement • Aug 02
Proto Labs, Inc. Provides Earnings Guidance for the Third Quarter of 2024 Proto Labs, Inc. provided earnings guidance for the third quarter of 2024. for the quarter, the company expects to generate revenue between $117 millionand $125 million and diluted net income per share between $0.10 and $0.18. Buy Or Sell Opportunity • Jul 30
Now 21% undervalued Over the last 90 days, the stock has risen 9.0% to €31.16. The fair value is estimated to be €39.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.4% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 2.4% in a year. Earnings are forecast to grow by 11% in the next year. Announcement • Jul 13
Proto Labs, Inc. to Report Q2, 2024 Results on Aug 02, 2024 Proto Labs, Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 02, 2024 Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$0.21 (vs US$0.10 in 1Q 2023) First quarter 2024 results: EPS: US$0.21 (up from US$0.10 in 1Q 2023). Revenue: US$127.9m (up 1.6% from 1Q 2023). Net income: US$5.27m (up 98% from 1Q 2023). Profit margin: 4.1% (up from 2.1% in 1Q 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Announcement • Apr 14
Proto Labs, Inc., Annual General Meeting, May 23, 2024 Proto Labs, Inc., Annual General Meeting, May 23, 2024, at 08:30 Central Standard Time. Agenda: To consider Elect eight directors to hold office until the next Annual Meeting of Shareholders or until their successors are duly elected; to consider Vote on the ratification of the selection of Ernst & Young LLP as independent registered public accounting firm for fiscal 2024vVote on an advisory basis to approve the compensation of the officers disclosed in the accompanying Proxy Statement, which we refer to as a say-on-pay" vote; to consider Vote on the approval of the Amended and Restated Proto Labs, Inc. 2022; to consider Long-Term Incentive Plan; to consider Act on any other matters that may properly come before the Annual; to consider Meeting, or any adjournment or postponement thereof. Announcement • Apr 13
Proto Labs, Inc. to Report Q1, 2024 Results on May 03, 2024 Proto Labs, Inc. announced that they will report Q1, 2024 results Pre-Market on May 03, 2024 Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent Director Stacy Greiner was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: US$0.66 (vs US$3.78 loss in FY 2022) Full year 2023 results: EPS: US$0.66 (up from US$3.78 loss in FY 2022). Revenue: US$503.9m (up 3.2% from FY 2022). Net income: US$17.2m (up US$120.7m from FY 2022). Profit margin: 3.4% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. New Risk • Feb 10
New major risk - Revenue and earnings growth Earnings have declined by 61% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Feb 09
Proto Labs, Inc. Provides Earnings Guidance for the First Quarter and for Full Year 2024 Proto Labs, Inc. provided earnings guidance for the first quarter and for full Year 2024. For the quarter, the company expects diluted net income per share between $0.09 and $0.17. For the period, the company expects to generate revenue between $120 million and $128 million. This guidance reflects a softer start to 2024, due to December 2023 and early January 2024 order levels being lower than historical periods. However, recent performance has been more in line with historical trends, and guidance assumes that will continue through the end of March. Announcement • Jan 20
Proto Labs, Inc. to Report Q4, 2023 Results on Feb 09, 2024 Proto Labs, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 09, 2024 New Risk • Nov 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 05
Third quarter 2023 earnings released: EPS: US$0.31 (vs US$0.14 in 3Q 2022) Third quarter 2023 results: EPS: US$0.31 (up from US$0.14 in 3Q 2022). Revenue: US$130.7m (up 7.4% from 3Q 2022). Net income: US$7.95m (up 101% from 3Q 2022). Profit margin: 6.1% (up from 3.2% in 3Q 2022). Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Oct 19
Proto Labs, Inc. to Report Q3, 2023 Results on Nov 03, 2023 Proto Labs, Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 03, 2023 Announcement • Oct 06
Protolabs Appoints Agnes Semington as Chief Human Resources Officer Protolabs announced Agnes Semington as its global Chief Human Resources Officer (CHRO). Semington has had a progressive career of human resources leadership positions and joins Protolabs after serving as CHRO for The Imagine Group, a commercial printing and visual communication company. Prior to The Imagine Group, she was Senior Vice President of Human Resources at Shutterfly. Reported Earnings • Aug 05
Second quarter 2023 earnings released: US$0.015 loss per share (vs US$0.093 profit in 2Q 2022) Second quarter 2023 results: US$0.015 loss per share (down from US$0.093 profit in 2Q 2022). Revenue: US$122.3m (down 3.7% from 2Q 2022). Net loss: US$383.0k (down 115% from profit in 2Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • Jul 23
Proto Labs, Inc. to Report Q2, 2023 Results on Aug 04, 2023 Proto Labs, Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 04, 2023 Announcement • Jun 25
Proto Labs, Inc.(NYSE:PRLB) dropped from Russell 2000 Value-Defensive Index Proto Labs, Inc.(NYSE:PRLB) dropped from Russell 2000 Value-Defensive Index Announcement • May 07
Proto Labs, Inc. Provides Earnings Guidance for the Second Quarter of 2023 Proto Labs, Inc. provided earnings guidance for the second quarter of 2023. For the period, the company generate revenue between $119 million and a $127 million. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: US$0.10 (vs US$0.18 in 1Q 2022) First quarter 2023 results: EPS: US$0.10 (down from US$0.18 in 1Q 2022). Revenue: US$125.9m (up 1.4% from 1Q 2022). Net income: US$2.66m (down 48% from 1Q 2022). Profit margin: 2.1% (down from 4.1% in 1Q 2022). Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Feb 17
Protolabs Launches Instant Manufacturability Analysis for 3D Printing Protolabs has launched instant design for additive manufacturability (DfAM) analysis on 3D-printed parts through its online quoting platform. The automated feedback enables product developers and engineers to optimize additive designs before parts are printed, which helps accelerate product development and avoid unnecessary production costs by making design adjustments early. DfAM analysis is available globally on parts uploaded online at protolabs.com for any of the company’s plastic and metal 3D printing technologies. When users receive their quotes, the analysis immediately highlights potential manufacturability advisories concerning thin walls, small gaps, and parts that exceed maximum size restrictions. The launch extends the company’s automated DfAM, also available through its digital network of manufacturing partners at Hubs. Protolabs has also recently broadened its additive material and finishing options. Now, product developers and engineers can choose 3D-printed silicone in multiple levels of shore-A hardness; the material is 100% pure silicone, which is biocompatible and functional at a range of temperatures. Earlier this year, vapor smoothing was launched for select materials, providing enhanced finishes that eliminate rough surfaces and leave a glossy, aesthetic appearance on 3D-printed parts. The addition of design and production capabilities within 3D printing signals a larger push by Protolabs to bring more manufacturing possibilities to its customer this year. Reported Earnings • Feb 12
Full year 2022 earnings released: US$3.78 loss per share (vs US$1.21 profit in FY 2021) Full year 2022 results: US$3.78 loss per share (down from US$1.21 profit in FY 2021). Revenue: US$488.4m (flat on FY 2021). Net loss: US$103.5m (down 410% from profit in FY 2021). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Jan 28
Proto Labs, Inc. to Report Q4, 2022 Results on Feb 10, 2023 Proto Labs, Inc. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 10, 2023 Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €22.54, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 12x in the Machinery industry in Germany. Total loss to shareholders of 74% over the past three years. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.14 (vs US$0.17 in 3Q 2021) Third quarter 2022 results: EPS: US$0.14 (down from US$0.17 in 3Q 2021). Revenue: US$121.7m (down 2.9% from 3Q 2021). Net income: US$3.95m (down 18% from 3Q 2021). Profit margin: 3.2% (down from 3.9% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year whereas the company’s share price has fallen by 33% per year. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: US$0.093 (vs US$0.47 in 2Q 2021) Second quarter 2022 results: EPS: US$0.093 (down from US$0.47 in 2Q 2021). Revenue: US$126.9m (up 3.1% from 2Q 2021). Net income: US$2.56m (down 80% from 2Q 2021). Profit margin: 2.0% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 6.4%, compared to a 9.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: US$0.18 (vs US$0.14 in 1Q 2021) First quarter 2022 results: EPS: US$0.18 (up from US$0.14 in 1Q 2021). Revenue: US$124.2m (up 6.9% from 1Q 2021). Net income: US$5.10m (up 37% from 1Q 2021). Profit margin: 4.1% (up from 3.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.5%, compared to a 9.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 12
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$1.21 (down from US$1.90 in FY 2020). Revenue: US$488.1m (up 12% from FY 2020). Net income: US$33.4m (down 34% from FY 2020). Profit margin: 6.8% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 7.0%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Dec 09
Chief Technology Officer recently bought €435k worth of stock On the 1st of December, Arthur Baker bought around 10k shares on-market at roughly €43.45 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €118k more in shares than they have sold in the last 12 months. Executive Departure • Dec 01
CFO & Executive VP of Development John Way has left the company On the 30th of November, John Way's tenure as CFO & Executive VP of Development ended after 7.0 years in the role. As of September 2021, John still personally held 20.78k shares (€1.2m worth at the time). John is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.29 years. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$0.17 (vs US$0.55 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$125.3m (up 17% from 3Q 2020). Net income: US$4.84m (down 67% from 3Q 2020). Profit margin: 3.9% (down from 14% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 22% per year. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$0.47 (vs US$0.47 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: US$123.0m (up 16% from 2Q 2020). Net income: US$12.9m (up 2.4% from 2Q 2020). Profit margin: 11% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 16% per year. Reported Earnings • May 08
First quarter 2021 earnings released: EPS US$0.14 (vs US$0.52 in 1Q 2020) The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: US$116.1m (flat on 1Q 2020). Net income: US$3.71m (down 74% from 1Q 2020). Profit margin: 3.2% (down from 12% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 7% per year. Recent Insider Transactions • Mar 08
Independent Director recently sold €125k worth of stock On the 1st of March, John Goodman sold around 1k shares on-market at roughly €125 per share. In the last 3 months, there was an even bigger sale from another insider worth €324k. Insiders have been net sellers, collectively disposing of €772k more than they bought in the last 12 months. Is New 90 Day High Low • Mar 05
New 90-day low: €106 The company is down 5.0% from its price of €111 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €44.69 per share. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$123, the stock is trading at a trailing P/E ratio of 77.1x, down from the previous P/E ratio of 91.1x. This compares to an average P/E of 37x in the Machinery industry in Germany. Total returns to shareholders over the past three years are 37%. Recent Insider Transactions • Feb 21
Chief Technology Officer recently sold €324k worth of stock On the 16th of February, Arthur Baker sold around 2k shares on-market at roughly €162 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €647k more than they bought in the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 13
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 7.0%, compared to a 5.0% growth forecast for the Machinery industry in Germany. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS US$1.90 (vs US$2.37 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$434.4m (down 5.3% from FY 2019). Net income: US$50.9m (down 20% from FY 2019). Profit margin: 12% (down from 14% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 20
New 90-day high: €161 The company is up 39% from its price of €116 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €47.43 per share. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$129, the stock is trading at a trailing P/E ratio of 74.8x, down from the previous P/E ratio of 91.5x. This compares to an average P/E of 34x in the Machinery industry in Germany. Total returns to shareholders over the past three years are 50%. Is New 90 Day High Low • Dec 16
New 90-day high: €129 The company is up 5.0% from its price of €122 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €41.67 per share. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS US$0.55 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: US$107.5m (down 8.5% from 3Q 2019). Net income: US$14.7m (down 13% from 3Q 2019). Profit margin: 14% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue beats expectations Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 2.0% while the growth in Machinery industry in Germany is expected to stay flat. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 2.9% at US$107.5m. Revenue is forecast to grow 2.6% over the next year, while the growth in Machinery industry in Germany is expected to stay flat. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of US$56.5m, down 17% from the prior year. Total revenue was US$441.1m over the last 12 months, down 4.0% from the prior year. Is New 90 Day High Low • Oct 29
New 90-day low: €100 The company is down 1.0% from its price of €102 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.87 per share. 
