3D Printing Service ProvidersFinancial ReportsIndustry AnalysisMoney & Funding

Protolabs reports revenue of $124 million in Q1 2022, +7%

Hubs (formerly 3D Hubs) generated $10.3 million, +78.6%

Stay up to date with everything that is happening in the wonderful world of AM via our LinkedIn community.

Proto Labs, Inc. (Protolabs, NYSE: PRLB), one of the world’s leading providers of digital manufacturing services, reported that it generated revenues of $124.2 million in Q1 2022, representing a 6.9 percent increase compared to revenue of $116.1 million in the first quarter of 2021. The Hubs online platform generated $10.3 million of revenue in the first quarter, representing year-over-year growth of 78.6 percent, or approximately 38.2 percent organically. Hubs was acquired on January 22, 2021, for $280 million.

“Protolabs finished the first quarter strong after a slow start in January, and we also made progress on our 2022 strategic priorities,” said Rob Bodor, President and Chief Executive Officer. “As an ever-increasing group of companies adopts Manufacturing 4.0, Protolabs will continue to lead the way through focused execution of our strategy.”

In total, Protolabs served 23,492 unique product developers during the first quarter of 2022, with gross margin of 44.9 percent of revenue. EBITDA was $17.8 million, or 14.3 percent of revenue. Adjusted EBITDA was $22.3 million, or 17.9 percent of revenue.

“We are pleased to report first-quarter margins ahead of our expectations,” said Dan Schumacher, Interim Chief Financial Officer. “We remain confident in our long-term strategy and are focused on execution. Protolabs will continue to reinforce our sustainable, long-term competitive advantage through profitable growth.”

The Company has included non-GAAP revenue growth that excludes the impact of changes in foreign currency exchange rates and revenue earned from its acquisition of Hubs (collectively, “non-GAAP revenue growth”). Management believes these metrics are useful in evaluating the underlying business trends and the company’s ongoing operating performance.

Among other metrics, the company has included earnings before interest, taxes, depreciation and amortization (“EBITDA”) and EBITDA, adjusted for stock-based compensation expense, unrealized loss on foreign currency, and transaction costs (collectively, “Adjusted EBITDA”), in this press release to provide investors with additional information regarding the Company’s financial results.

Research
Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

VoxelMatters

VoxelMatters is the online trade media portal published by 3dpbm, a leading marketing and market research firm specializing in the AM industry. 3dpbm also publishes the 3D Printing Business Directory, the AM Focus eBook series and the 3dpbm Research AM Market Reports. 3D Printing Media Network was founded with the goal to provide the latest industry news, insights and opinions to a global audience of professionals and decision makers.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • PHPSESSID
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Save
Accept all Services

Newsletter

Join our 12,000+ Professional community and get weekly AM industry insights straight to your inbox. Our editor-curated newsletter equips executives, engineers, and end-users with crucial updates, helping you stay ahead.