Earnings

Protolabs Lifts 2026 Growth Outlook After Faster Revenue

The Tip Desk · November 1, 2026 · 2 min read

Third-quarter sales hit a record $154.3 million, up 14.0% from a year earlier, and the company now expects full-year 2026 revenue growth of 10% to 11%.

Proto Labs, Inc. (PRLB), the digital manufacturing services company, reported record third-quarter revenue of $154.3 million, a 14.0% increase from the year-earlier quarter, and raised its full-year 2026 revenue-growth outlook to 10% to 11% from 8% to 10%.

The year-over-year pace quickened from 10.6% growth in the second quarter and 10.4% in the first quarter, marking a fourth consecutive period of double-digit revenue growth. President and Chief Executive Officer Suresh Krishna said the company delivered another record quarter and attributed the momentum to execution and demand from industries that value speed, quality and manufacturing agility.

CNC machining was the largest service line, with revenue of $73.4 million, up 16.4% from a year earlier, faster than the 13.6% CNC growth reported in the second quarter. Injection molding revenue was $53.7 million, up 12.5%. 3D printing revenue was $22.4 million, up 11.4%. Sheet metal revenue declined 4.7% to $4.1 million. Other revenue was $0.8 million.

Revenue per customer contact rose 16.6% year-over-year to $7,427 from $6,370, even as customer contacts fell to 20,777 from 21,252. United States revenue was $125.4 million, up 14.7%. Europe revenue was $28.9 million, up 11.2% on a GAAP basis.

GAAP operating margin expanded to 9.4% from 6.5% a year earlier. Non-GAAP operating margin was 11.9%, up from 10.0%. GAAP net income was $11.8 million, or $0.48 a share, compared with $7.2 million, or $0.30 a share, a year earlier. Non-GAAP net income was $0.63 a share, compared with $0.47 a share. Adjusted EBITDA was $26.2 million, or 17.0% of revenue, up 23.8% from $21.1 million, or 15.6% of revenue, a year earlier.

GAAP gross margin was 44.5%, down from 45.3% a year earlier. Non-GAAP gross margin was also 44.5%, down from 45.9%. Restructuring and transformation costs of $0.4 million appeared in the third quarter after none in the year-ago quarter.

Cash generated from operations was $22.8 million. Cash and investments were $175.0 million as of September 30, 2026, up from $162.9 million at June 30.

Chief Financial Officer Dan Schumacher said the company delivered broad-based revenue growth, meaningful operating leverage and continued earnings growth, and that it remains focused on balancing investments in strategic priorities with disciplined cost management.

For the fourth quarter of 2026, the company expects revenue between $143.0 million and $151.0 million, GAAP diluted net income of $0.28 to $0.36 a share, and non-GAAP diluted net income of $0.46 to $0.54 a share.

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