Slide 1: Earnings Presentation Q2 2026
Earnings Presentation Q2 2026 July 31, 2026
Slide 2: Forward-looking Statements and Non-GAAP Measures
Forward-looking Statements and Non-GAAP Measures • These slides may contain forward-looking • Other factors that could materially affect actual • Non-GAAP Financial Measures: Protolabs statements. These statements relate to future results, levels of activity, performance or management believes that
Slide 3: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights • $149 million revenue Up 10% YoY1 Revenue per customer contact up 17% YoY • 47% non-GAAP gross margin* Up 200 bps YoY • 17% adjusted EBITDA margin* Up 220 bps YoY • $0.60 non-GAAP EPS* Up 45% YoY 3 1 YoY change in constant currencies. Non-GAAP measure. See appendix for
Slide 4: Wherever innovation is happening, Protolabs is there.
Wherever innovation is happening, Protolabs is there. Aero, Space & Robots Data Centers Rockets Drones Medical Devices Satellite Renewable Communication Energy 4
Slide 5: Elevate Customer Experience, Accelerate Innovation, Expand Production, Drive Operational Efficiency
Elevate Customer Accelerate Expand Drive Operational Experience Innovation Production Efficiency 5
Slide 6: TIME's 'America's Best Companies of 2026'
TIME’s ‘America’s Best Companies of 2026’ 6
Slide 7: Q2 2026 Financial Overview
Q2 2026 Financial Overview 7
Slide 8: Financial Summary | Q2 2026
Financial Summary | Q2 2026 Revenue ($M) 10.2%1 • Revenue of $149.3 million, up 10.2%1 YoY • Growth primarily driven by larger orders from strategic $135.1 $149.3 customers, strength in key growth industries (incl. A&D), and market dynamics that have driven increases in price Q2 2025 Q2 2026 • Reven
Slide 9: Revenue by Service | Q2 2026 YoY
Revenue by Service | Q2 2026 YoY Injection Molding - Revenue CNC Machining - Revenue ($M) ($M) 13%* 13%* $61.9 $70.4 $47.4 $53.6 Q2 2025 Q2 2026 Q2 2025 Q2 2026 3D Printing - Revenue Sheet Metal - Revenue ($M) ($M) (3)%* 4%* $21.2 $20.7 $4.3 $4.5 Q2 2025 Q2 2026 Q2 2025 Q2 2026 9 *YoY change in cons
Slide 10: Financial Results | Q2 2026
Financial Results | Q2 2026 Q2 2026 Q1 2026 QoQ Change Q2 2025 YoY Change Revenue $149.3 $139.3 7.2% $135.1 10.6% Non-GAAP 46.8% 46.2% 60 bps 44.8% 200 bps Gross Margin* Non-GAAP 12.0% 11.0% 100 bps 8.6% 340 bps Operating Margin* Non-GAAP $0.60 $0.54 11.8% $0.41 45.3% Earnings Per Share* 10 *Non-GAA
Slide 11: Cash Flow and Balance Sheet | Q2 2026
Cash Flow and Balance Sheet | Q2 2026 $M Q2 2026 Q1 2026 Q2 2025 Operating Cash Flow $15.4 $17.5 $10.6 Capital Expenditures $6.2 $3.5 $1.5 Share Repurchases $5.0 $0.0 $3.1 Cash and Investments* $162.9 $158.0 $123.2 Debt* $0 $0 $0 11 *Balance sheet items as of the end of the period.
Slide 12: Financial Outlook
Financial Outlook FY 2026 & Q3 2026 12
Slide 13: Financial Outlook
Financial Outlook FY 2026 anticipated revenue growth: 8% - 10% Q3 2026 Revenue Q3 2026 Non-GAAP EPS* Revenue $145M - $153M Non-GAAP EPS* $0.56 - $0.64 Q3 2026 Outlook Commentary • Expect foreign currency to have an approximately $0.4M unfavorable impact on Q3 2026 revenue • Expect Q3 2026 Non-GAAP e
Slide 14: Thank you
PROTOLABS Manufacturing. Accelerated. Thank you 14
Slide 15: Appendix
Appendix 15
Slide 16: Q2 2026 Detailed Financial Information
Q2 2026 Detailed Financial Information 16
Slide 17: YoY GAAP to Non-GAAP P&L | Q2 2026
YoY GAAP to Non-GAAP P&L | Q2 2026 Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 $ in thousands GAAP Adjustments Non-GAAP* GAAP Adjustments Non-GAAP* Revenue $ 149,341 — $ 149,341 $ 135,063 — $ 135,063 Cost of revenue 79,999 (549) 79,450 75,289 (767) 74,522 Gross profit $ 69,342
Slide 18: QoQ GAAP to Non-GAAP P&L | Q2 2026
QoQ GAAP to Non-GAAP P&L | Q2 2026 Three Months Ended June 30, 2026 Three Months Ended March 31, 2026 $ in thousands GAAP Adjustments Non-GAAP* GAAP Adjustments Non-GAAP* Revenue $ 149,341 — $ 149,341 $ 139,336 — $ 139,336 Cost of revenue 79,999 (549) 79,450 75,744 (736) 75,008 Gross profit $ 69,342
Slide 19: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations 19
Slide 20: Reconciliation | Revenue by Region
GAAP to Non-GAAP Reconciliation | Revenue by Region Proto Labs, Inc. Comparison of GAAP to Non-GAAP Revenue Growth by Region (In thousands) (Unaudited) Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Foreign % % Change GAAP Currency1 Non-GAAP GAAP Change2 Organic3 Revenues United S
Slide 21: Reconciliation | Revenue by Product Line
GAAP to Non-GAAP Reconciliation | Revenue by Product Line Proto Labs, Inc. Comparison of GAAP to Non-GAAP Revenue Growth by Product Line (In thousands) (Unaudited) Three Months Ended Three Months Ended June 30, 2026 June 30, 2025 Foreign % % Change GAAP Currency1 Non-GAAP GAAP Change2 Organic3 Reven
Slide 22: Reconciliation | Gross Margin
GAAP to Non-GAAP Reconciliation | Gross Margin Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Gross Margin (In thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenue $ 149,341 $ 135,063 $ 288,677 $ 261,268 Gross profit 69,342 59,774 132,934 115,
Slide 23: Reconciliation | Operating Margin
GAAP to Non-GAAP Reconciliation | Operating Margin Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Operating Margin (In thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenue $ 149,341 $ 135,063 $ 288,677 $ 261,268 Income from operations 11,358 4
Slide 24: Reconciliation | EBITDA
GAAP to Non-GAAP Reconciliation | EBITDA Proto Labs, Inc. Reconciliation of GAAP Net Income to EBITDA and Adjusted EBITDA (In thousands) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenue $ 149,341 $ 135,063 $ 288,677 $ 261,268 GAAP net income 9,152 4,427 1
Slide 25: Reconciliation | EPS
GAAP to Non-GAAP Reconciliation | EPS Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Net Income and Non-GAAP Net Income per Share (In thousands, except share and per share amounts) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Non-GAAP net income, adjuste
Slide 26: Reconciliation | Q3 2026 Outlook
GAAP to Non-GAAP Reconciliation | Q3 2026 Outlook Proto Labs, Inc. Reconciliation of GAAP to Non-GAAP Guidance (Unaudited) Q3 2026 Outlook Low High GAAP diluted net income per share $ 0.34 $ 0.42 Add back: Stock-based compensation expense 0.19 0.19 Amortization expense 0.03 0.03 Total adjustments 0.