Business
Proto Labs : Protolabs Investor Presentation – May 2026
Proto Labs : Protolabs Investor Presentation – May
About this update from Proto Labs, Inc.
Investor Overview May 2026 Company Overview Quick Facts (2025) $533M revenue Founded 1999 Four core services Industry-fastest lead times: Unique factory x network hybrid model Mission-critical end markets Digital manufacturing pioneer; one of the largest and most profitable in the industry Injection molding, CNC machining, 3D printing, and sheet metal fabrication High-quality custom parts delivered in as little as one day Only digital manufacturer combining in-house production with a global partner network Aerospace & defense, robotics, data centers, life-saving healthcare, and more 45% non-GAAP gross margin* $78M adjusted EBITDA* $75M Cash flow from operations 48,000+ customer contacts 700M parts manufactured to-date ~1M sq. ft. of in-house manufacturing 100s digitally enabled global manufacturing partners * See appendix for reconciliation 3 Wherever innovation is happening, Protolabs is there. Drones Data Centers Aero, Space & Rockets Robots Medical Devices Satellite Communication 4 Renewable Energy Investment Highlights Undisputed Industry Leader Pioneer of digital manufacturing (est. 1999); one of the largest and most profitable globally 48,000+ active customer contacts; serve 85%+ of Fortune 500 in target industries Industry-best lead times-high-quality parts in as little as one day $100B+ Market at Digital Inflection Digital transition still early-stage in a $2T global contract manufacturing market Tailwinds: onshoring, SKU proliferation, sustainability mandates, Manufacturing 4.0 / AI $80B production TAM largely untapped Resilient, All-Weather Business Model Factory excels in growth periods; Network captures production demand in downturns Only digital manufacturer combining in-house speed with a scalable global partner network >90% of revenue from returning customers; one-stop-shop drives deep retention Compelling Financial Profile FY2025: $533M revenue (+6.4% YoY), 45% non-GAAP gross margin*, $74.5M operating cash flow $158M cash and investments, zero debt 12% revenue CAGR since 2012 IPO; active $100M share repurchase program * See appendix for reconciliation Key Drivers in a $100B Market: Manufacturing is a critical sector of the economy Our digital technology puts us at the forefront of a massive industry. 1 2 Future of manufacturing and supply chains are digital Manufacturing 4.0, AI, Internet of Things, Labor Shortage 3 Digitization of manufacturing is causing companies to seek single-source manufacturing providers The most comprehensive offer wins Our Factory x Network offer dramatically expands our ability to serve the customer through the entire journey, from prototyping to production to end of life 4 Digitizing production will transform the industry Our unmatched automation positions us to win $100B SAM (2) Prototype $20B (2) Production $80B (2) 1) BCC research 2) Management estimates Digital Manufacturing: Factory x Network Custom prototype and production parts are manufactured via two fulfilment sources Parts Shipped to Customer On-time delivery of parts when you need them. Global Digital Manufacturing Locations Digital Factory Digital Network Network x Factory Parts are manufactured via two fulfillment services: Protolabs Factory and/or Protolabs Network ProDesk The customer uploads files into our intuitive ordering platform featuring AI-driven manufacturability analysis and real-time pricing. 7 A complementary and synergistic hybrid manufacturing model Digital Factory Fastest, most reliable lead times in the world for custom parts (as fast as 1 day) Automated quoting and digital manufacturing platform Equipment and process standardization to enable speed Industry-leading gross margin profile driven by automation and speed 8 Partner Network Significant expansion of manufacturing capabilities via global supplier network Adherence to Protolabs' high-quality standards Can add new manufacturing partners with minimal capital outlay Comprehensive capabilities provide significant gross profit expansion opportunities Factory Fulfilment Customer Value Prop: Digital Factory Quick-turn source for prototype and low-volume production parts Accelerate product development and speed to market Stabilize supply chain disruptions 9 Network Fulfilment Customer Value Prop: Manufacturing Partner Network Cost-efficient pricing with flexible lead times Access to global network of production suppliers Comprehensive and complementary manufacturing capabilities 10 Global Digital Manufacturing Locations Digital Factory Manufacturer in Digital Network 11 We Enable Global Change We work with the most innovative companies in the world In 2025, we served more than 48,000 customer contacts -one of the largest customer bases in our industry We serve more than 85% of Fortune 500 companies in our target industries Fast -growing sectors served: aerospace & defense, rockets, satellites, robotics, data centers, med devices 12 Serving the most innovative companies across every major industry Aerospace and Defense 20-25% Medical and Healthcare 15-20% Computer and Electronics 15-20% Industrial Machinery and Equipment 10-15% Automotive 5% 13 Note: %s are approximate % of total revenue Our Hybrid Model Drives Customer Retention Single Resource for Complex Components Manufacture all custom parts regardless of complexity Simplified supply chain with one-stop-shop Strategic innovation partner Manufacturing Solution Throughout Life Cycle Rapid prototyping with iterative design Bridge from low- to high-volume production Flexibility during demand volatility Competitive Pricing at Any Quantity Cost-efficient parts from quantity one to 1 million Intuitive pricing options between factory and network 14 +90% revenue comes from returning customers Elevate Customer Experience Remove friction across the customer journey to deliver a best-in-class experience, increase revenue per customer Enable teams to serve customers more efficiently, driving faster growth Accelerate Innovation Reaccelerate innovation across core manufacturing services to drive outsized growth; accelerated pace of new releases Leverage differentiated IP and deep manufacturing & engineering talent Expand Production Take a deliberate, customer-led approach-prioritizing the right customers, applications, and capabilities Begin with our most strategic customers and scale over time Drive Operational Efficiency Expand Factory and Network gross margins and capture SG&A leverage via efficiencies and productivity improvements Reallocate resources to fund the highest-priority growth initiatives 15 Financial Information 16 Long Track Record of Revenue Growth $533M 2012-2025 CAGR: 12% $126M 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 17 (IPO) Financial Results | FY 2025 FY 2025 FY 2024 YoY Change Revenue $533.1 $500.9 6.4% Non-GAAP Gross Margin* 45.1% 45.2% (10) bps Non-GAAP Operating Margin* 8.8% 9.2% (40) bps Non-GAAP Earnings Per Share* $1.66 $1.63 1.5% *Non-GAAP: adjusted for stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency, CEO transition costs, restructuring and transformation costs, and costs related to exit/disposal activities. See reconciliation in Appendix. 18 Cash Flow and Balance Sheet | FY 2025 $M FY 2025 FY 2024 Operating Cash Flow $74.5 $77.8 Capital Expenditures $14.8 $9.2 Share Repurchases $43.0 $60.3 Cash and Investments* $142.4 $120.9 Debt* $0 $0 *Balance sheet items as of the end of the period. 19 Revenue by Service | FY 2025 YoY $243.3 $206.9 CNC Machining ($M) 17%* Injection Molding ($M) (2)%* $194.2 $191.5 Sheet Metal ($M) FY 2024 FY 2025 FY 2024 FY 2025 3D Printing ($M) $83.8 $80.3 (5)%* 12%* $15.3 $17.2 FY 2024 FY 2025 20 *YoY change reflected in constant currencies See reconciliation in Appendix. FY 2024 FY 2025 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .