Proto Labs Inc Stock Price, News & Analysis

Protolabs (NYSE: PRLB) will release its financial results for Q1 2023 on May 5, 2023, before market opening. A conference call to discuss these results will take place at 8:30 a.m. EDT on the same day. Investors can access the call by dialing 877-709-8150 (or 201-689-8354 for international calls) at least five minutes prior. The call will be available for replay on their investor relations website approximately two hours post-call. Protolabs offers advanced digital manufacturing services, enabling rapid production of low-volume parts through a network of manufacturing partners. For more information, visit protolabs.com.

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.