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Sep 30, 2020
Proto Labs Q3 2020 Earnings Report
Reported revenue and non-GAAP earnings per share above expectations, driven by improved productivity and disciplined cost management.
Key Takeaways
Proto Labs reported a revenue of $107.5 million for Q3 2020, an 8.5 percent decrease compared to Q3 2019. The GAAP EPS was $0.55, and the non-GAAP EPS was $0.67. The company's focus on cost management resulted in sequential margin improvement.
Revenue for the third quarter of 2020 was $107.5 million, representing an 8.5 percent decrease compared to revenue of $117.5 million in the third quarter of 2019.
GAAP net income for the third quarter of 2020 was $14.7 million, or $0.55 per diluted share.
Non-GAAP net income was $17.9 million, or $0.67 per diluted share in the third quarter.
Gross margin was 50.8 percent of revenue for the third quarter of 2020, up from 49.2 percent for the second quarter of 2020.
Forward Guidance
The new Protolabs 2.0 ecommerce digital manufacturing platform will go live in Europe in November, followed by a US debut in the first quarter of 2021.
Positive Outlook
- New Protolabs 2.0 ecommerce digital manufacturing platform will go live in Europe in November.
- US debut of the new platform is planned for the first quarter of 2021.
- The new platform will enhance customer experience.
- The new platform will extend the company's position as a leader in digital manufacturing.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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