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.
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.
Analyze how earnings announcements historically affect stock price performance