Strong Revenue Performance
Proto Labs reported first quarter revenue of $126 million, near the upper end of their guidance range with earnings per share of $0.33, also near the top of expectations.
Growth in Production Offerings
Customers utilizing Proto Labs' combined offer grew more than 45% over the trailing 12 months, with revenue per customer increasing by 3% year-over-year. Production revenue exceeded expectations in the first quarter.
Expansion in Aerospace and Defense
Proto Labs' revenue from aerospace and defense customers has increased significantly, with partnerships including Blue Origin, NASA, and Lockheed Martin.
Improved Gross Margin
First quarter consolidated non-GAAP gross margin increased 140 basis points sequentially to 44.8%.
Positive Cash Flow and Shareholder Returns
Generated $18.4 million in cash from operations during the first quarter and returned $20.9 million to shareholders through repurchases, exceeding 122% of free cash flow.