- Proto Labs, Inc. (NYSE:PRLB) reported a first-quarter FY23 revenue of $125.86 million, an increase of 1.4% year-over-year. Revenues beat the consensus of $118.17 million.
- The e-commerce digital manufacturer posted adjusted EPS of $0.30, beating the consensus of $0.23.
- Revenue generated from its digital network powered by Hubs was $17.2 million, up 67.3% Y/Y. The growth of digital network revenue was fueled by cross-selling efforts of the company’s go-to-market teams.
- Protolabs served 23,287 unique product developers and engineers during the quarter.
- Adjusted gross margin decreased by 230 bps to 43.4%.
- Adjusted EBITDA margin declined by 380 bps to 14.1%.
- Cash and investments balance was $104.7 million as of March 31, 2023.
- “We continue to innovate and drive efficiencies to enable us to leverage our profitable operating structure and, coupled with our strong financial position in which we have no debt and generate strong operating cash flows, are well-positioned to weather economic volatility and dynamic customer preferences,” said Rob Bodor, President and Chief Executive Officer.
- Price Action: PRLB shares are trading down by 1.71% at $27.55 in the premarket session on the last check Friday.
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