Slide 1: Earnings Presentation Q2 2021
Earnings Presentation Q2 2021 ▸ July 29, 2021 1
Slide 2: Safe Harbor
Safe Harbor ▸ These slides and accompanying oral presentation may contain forward-looking statements. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activit
Slide 3: Q2 2021 Overview
Q2 2021 Overview @Proto.ass
Slide 4: Financial Highlights YoY
Financial Highlights | Q2 2021 YoY Revenue ($M) 15.5% • Record Revenue of $123.0 million, up 15.5% YoY 23,253 unique product developers served $106.6 $123.0 Hubs contributed $8.9 million of revenue in Q2 Q2 2020 Q2 2021 Non-GAAP EPS* • Non-GAAP EPS of $0.39, down $(0.21) YoY (34.9)% Investment
Slide 5: Financial Highlights QoQ
Financial Highlights | Q2 2021 QoQ Revenue ($M) 6.0% • Record Revenue of $123.0 million, up 6.0% QoQ Follows normal seasonality patterns $116.1 $123.0 Hubs contributed $8.9 million of revenue in Q2 Q1 2021 Q2 2021 Non-GAAP EPS* • Non-GAAP EPS of $0.39, down $(0.01) QoQ (2.9)% Lower than antici
Slide 6: Revenue by Service YoY
Revenue by Service | Q2 2021 YoY Injection Molding - Revenue CNC Machining - Revenue ($M) ($M) 0% 45% $57.9 $58.2 $41.6 $28.8 Q2 2020 Q2 2021 Q2 2020 Q2 2021 3D Printing - Revenue Sheet Metal - Revenue ($M) ($M) 28% 1% $14.2 $18.2 $4.7 $4.7 Q2 2020 Q2 2021 Q2 2020 Q2 2021 Record quarterly revenue in
Slide 7: Revenue by Service QoQ
Revenue by Service | Q2 2021 QoQ Injection Molding - Revenue CNC Machining - Revenue ($M) ($M) 3% 13% $56.4 $58.2 $36.7 $41.6 Q1 2021 Q2 2021 Q1 2021 Q2 2021 3D Printing - Revenue Sheet Metal - Revenue ($M) ($M) 5% (10)% $17.2 $18.2 $5.2 $4.7 Q1 2021 Q2 2021 Q1 2021 Q2 2021 Record quarterly revenue
Slide 8: Revenue by Region
Revenue by Region | Q2 2021 YoY Change YoY Change Revenue % by Region $M Q2 21 Q2 20 Overall Organic, Q2 2021 Constant Fx* 2.5% Americas $95.3 $86.8 10% 4% 20.0% Europe $24.7 $16.7 47% 10% Japan $3.0 $3.0 1% 3% 77.5% TOTAL $123.0 $106.6 15% 5% Americas Europe Japan *YoY change reflected in constant
Slide 9: Q2 2021 Detailed Financial Information
Q2 2021 Detailed Financial Information 9
Slide 10: Financial Results
Financial Results | Q2 2021 $M, Except QoQ YoY per share amounts Q2 21 Q1 21 Change Q2 20 Change Revenue $123.0 $116.1 6.0% $106.6 15.5% Non-GAAP 46.8% 48.5% (160) bps 50.1% (330) bps Gross Margin* Non-GAAP 12.1% 12.0% 10 bps 17.6% (550) bps Operating Margin* Non-GAAP $0.39 $0.40 (2.9)% $0.59 (34.9)
Slide 11: YoY GAAP to Non-GAAP P&L
YoY GAAP to Non-GAAP P&L | Q2 2021 Three Months Ended Jun. 30, 2021 Three Months Ended Jun. 30, 2020 $ in thousands GAAP Adjustments Non-GAAP* GAAP Adjustments Non-GAAP* Revenue $123,048 - $123,048 $106,575 - $106,575 Cost of Revenue 66,423 (1,011) 65,412 54,119 (936) 53,183 Gross Profit $56,625 $1,
Slide 12: QoQ GAAP to Non-GAAP P&L
QoQ GAAP to Non-GAAP P&L | Q2 2021 Three Months Ended Jun. 30, 2021 Three Months Ended Mar. 31, 2021 $ in thousands GAAP Adjustments Non-GAAP* GAAP Adjustments Non-GAAP* Revenue $123,048 - $123,048 $116,126 - $116,126 Cost of Revenue 66,423 (1,011) 65,412 60,796 (977) 58,819 Gross Profit $56,625 $1,
Slide 13: Cash Flow and Balance Sheet
Cash Flow and Balance Sheet | Q2 2021 $M Q2 21 Q1 21 Q2 20 FY 18 Operating Cash Flow $14.3 $6.4 $31.0 Capital Expenditures $17.4 $6.5 $19.9 Share Repurchases $1.2 $0 $3.5 Cash and Investments* $89.0 $93.1 $175.3 Debt* $0 $0 $0 *Balance Sheet items as of the end of the period. 13
Slide 14: Q3 2021 Financial Outlook
Q3 2021 Financial Outlook @Proto.ass
Slide 15: Q3 2021 Outlook
Q3 2021 | Outlook Q3 2021 Revenue Revenue $123M - $133M % Growth YoY 14% - 24% % Growth QoQ 0% - 8% Q3 2021 Outlook Commentary* ▸ Expect foreign currency to have a ~$1.5 million positive impact on Q3 revenue ▸ Estimated Non-GAAP gross margin of 47% +/- 50 bps ▸ Projected Non-GAAP operating expenses
Slide 16: Thank You
Thank You 16
Slide 17: Appendix
Appendix 17
Slide 18: GAAP to NON-GAAP Reconciliation | Revenue
GAAP to NON-GAAP Reconciliation | Revenue $ in thousands Three Months Ended Three Months Ended June 30, 2021 June 30, 2020 % % Foreign Hubs Change 2 3 4 GAAP Currency1 Acquisition Non-GAAP GAAP Change Organic Revenues United States $ 95,344 $ - $ (4,626) $ 90,718 $ 86,823 9.8 % 4.5 % Europe 24,655 (
Slide 19: GAAP to NON-GAAP Reconciliation | EBITDA
GAAP to NON-GAAP Reconciliation | EBITDA $ in thousands Three Months Ended June 30, 2021 2020 GAAP net income $ 12,915 $ 12,607 Amortization expense 1,490 754 Depreciation expense 8,578 7,143 Interest income, net (65) (368) Tax expense 3,326 2,511 EBITDA 26,244 22,647 Add back: Stock-based compensat
Slide 20: GAAP to NON-GAAP Reconciliation | EPS
GAAP to NON-GAAP Reconciliation | EPS Three Months Ended $ in thousands, except share and per share amounts June 30, 2021 2020 Non-GAAP net income, adjusted for stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency and transaction costs GAAP net income $