NYSE$PRLB

Proto Labs Inc · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Proto Labs reported accelerated growth, record revenue, and solid earnings in the fourth quarter of 2025.

Proto Labs, Inc. announced strong financial results for the fourth quarter and full year ended December 31, 2025, with record quarterly revenue of $136.5 million, a 12.1% increase year-over-year, and record annual revenue of $533.1 million, a 6.4% increase year-over-year. The company also reported a net income of $6.0 million for the quarter.

  • Record quarterly revenue of $136.5 million, a 12.1% increase year-over-year.
  • CNC Machining revenue grew 25.0% year-over-year in Q4 2025.
  • Net income was $6.0 million, or $0.25 per diluted share, for Q4 2025.
  • Non-GAAP net income was $10.7 million, or $0.44 per diluted share, for Q4 2025.

Headline financials

Total Revenue

$136M

Previous: $122M+12.1%
EPS (adj)

$0.44

Previous: $0.38+15.8%
EBITDA

$15M

Previous: $7.32M+105.2%
Adjusted EBITDA

$19.9M

Previous: $16.9M+18.3%
Adjusted EBITDA Margin

14.6%

Previous: 13.8%+5.8%
Non-GAAP Gross Margin

44.8%

Previous: 43.4%+3.2%
Non-GAAP Operating Margin

9.1%

Previous: 7.6%+19.7%
Revenue per customer contact

$6.96K

Previous: $5.65K+23.2%
Customer contacts

19.6K

Previous: 21.6K-9.0%
Net Income

$6M

Previous: -$404K+1584.9%
Operating Income

$6.8M

Previous: -$1.5M+554.8%
Gross Profit

$60.4M

Previous: $52M+16.2%

Revenue & EPS history

Proto Labs · Revenue · Quarterly

$136M

Q4 2025+12.1%vs Q4 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Proto Labs · $131M total across 4 segments · Q3 2023

  • CNC Machining
    $52.9M
  • Injection Molding
    $51.7M
  • 3D Printing
    $21.6M
  • Sheet Metal
    $4.29M

Forward guidance

For fiscal year 2026, Protolabs expects revenue growth between 6% and 8%. For the first quarter of 2026, the Company expects revenue between $130.0 million and $138.0 million, diluted net income per share between $0.17 and $0.25, and non-GAAP diluted net income per share between $0.36 and $0.44.

Tailwinds

  • Expected revenue growth between 6% and 8% for fiscal year 2026.
  • Q1 2026 revenue guidance of $130.0 million to $138.0 million.
  • Q1 2026 non-GAAP diluted net income per share guidance of $0.36 to $0.44.
  • Strategic pillars focused on elevating customer experience, accelerating innovation, expanding production, and driving operational efficiency.
  • Organizational and operational changes are expected to position Protolabs for faster growth and improved profitability.

Headwinds

  • Diluted net income per share for Q1 2026 is projected to be between $0.17 and $0.25, which is lower than the non-GAAP guidance.
  • No specific negative outlook or risks were highlighted in the guidance section.
  • The guidance does not provide specific details on potential market challenges.
  • No explicit mention of potential impacts from global economic conditions.
  • No specific details on capital expenditure plans for 2026.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.1%

Avg return

Earnings day

-1.0%

Avg return

5 days after

+0.1%

Avg return

30 days after

51%

31 / 61 earnings

Positive

+37.2%

Q3 2023

Best reaction

-31.3%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.4%+6.3%+16.8%
Q4 2025+28.0%+28.0%+9.3%
Q3 2025+0.1%-6.1%-4.2%
Q1 2025+6.2%+8.0%+3.3%
Q4 2024-6.3%-1.5%-14.4%
Q3 2024+23.6%+43.9%+50.3%
Q2 2024-14.5%-17.7%-8.8%
Q1 2024+0.8%+1.8%-0.5%
Q4 2023-4.7%-6.7%+1.0%
Q3 2023+37.2%+37.7%+52.3%
Q2 2023-8.5%-11.2%-5.5%
Q1 2023+9.1%+10.9%+17.7%
Q4 2022+12.5%+11.6%+7.5%
Q3 2022-31.3%-38.1%-27.5%
Q2 2022-10.4%-11.3%-26.5%
Q1 2022-1.5%-7.7%+11.8%
Q4 2021+3.7%+10.4%-4.9%
Q3 2021-18.9%-18.2%-31.2%
Q2 2021-7.2%-7.1%-14.1%
Q1 2021-0.9%-6.1%-13.6%
Q4 2020-10.1%-9.6%-32.8%
Q3 2020+0.5%+5.7%+18.1%
Q2 2020-12.2%-12.9%-1.1%
Q1 2020-5.1%-2.3%+28.2%
Q4 2019-15.7%-12.4%-25.6%
Q3 2019-10.3%-8.0%-9.9%
Q2 2019-1.7%-3.0%-16.4%
Q1 2019-9.9%-6.3%-13.7%
Q4 2018-20.4%-20.0%-18.7%
Q3 2018+2.2%+5.1%+6.1%
Q2 2018-6.7%-9.2%+7.0%
Q1 2018+1.0%+0.1%+0.3%
Q4 2017-1.3%-0.8%+10.8%
Q3 2017+6.6%+6.4%+12.7%
Q2 2017+2.7%+5.0%-2.1%
Q1 2017+7.3%+9.5%+18.4%
Q4 2016+15.1%+10.9%+0.7%
Q3 2016-13.6%-12.1%+7.5%
Q2 2016-10.3%-11.1%-4.2%
Q1 2016-26.4%
Q4 2015+11.3%
Q3 2015+2.8%
Q2 2015+11.4%
Q1 2015-4.1%
Q4 2014+13.4%
Q3 2014-11.4%
Q2 2014+3.7%
Q1 2014+4.1%
Q4 2010-1.6%
Q4 2013-3.9%
Q3 2013-0.1%
Q2 2013+1.4%
Q1 2013+1.6%
Q4 2012+15.4%
Q3 2011-2.7%
Q3 2012+19.2%
Q2 2011+10.6%
Q2 2012-1.4%
Q1 2011+3.7%
Q4 2011+3.7%
Q1 2012+7.4%
Q3 2010
Q2 2010
Q1 2010

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