olivLaw · US equity research
Proto Labs, Inc. PRLB
Fabricated Structural Metal Products · SIC 3440 · Vertical: Fabricated metal products (SIC 344x)
Proto Labs is a digital manufacturing service that turns customers' 3D designs into custom parts through injection molding, CNC machining, 3D printing and sheet metal, combining its own factories with a partner network. The company reported revenue of $533.1 million in fiscal 2025 and $149.3 million in the second quarter of 2026, with raised full-year guidance, which shows steady demand for short-run and fast-turn parts.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Proto Labs, Inc. (PRLB) stock was 66.48 USD (−3.79% on the day), with market capitalisation 1.6 bn USD, P/E 46.6 on diluted EPS of 1.43 USD over the last 12 months, beta 1.68, 52-week range 46.81–98.68 USD. Latest reported quarter (Q3 2026): revenue of 154.3 m USD (+14.0% YoY), net income of 11.8 m USD (+63.0% YoY), diluted EPS 0.48 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 28.2
- oversold (≤ 30)
- Bollinger (20, 2)
- 66.54 – 101.69
- below the lower band · %B -0.00 · band width 41.8%
- SMA 50 / 200
- 85.62 / 73.26
- mixed trend
- MACD (12, 26, 9)
- -5.11 / -2.49
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −32.6% | −1.1% | −31.5 pp | — |
| 3 months | −26.4% | −0.5% | −25.9 pp | — |
| 6 months | −3.5% | +4.4% | −7.9 pp | — |
| Year to date | +31.4% | +12.3% | +19.1 pp | — |
| 1 year | +37.7% | +13.5% | +24.2 pp | +1.9% |
| 3 years | +109.8% | +76.4% | +33.4 pp | +85.2% |
| 5 years | +7.9% | +63.7% | −55.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 121.8 m | 126.2 m | 135.1 m | 135.4 m | 136.5 m | 139.3 m | 149.3 m | 154.3 m |
| Cost of revenue | 69.8 m | 70.5 m | 75.3 m | 74.1 m | 76.1 m | 75.7 m | 80.0 m | 85.7 m |
| Gross profit | 52.0 m | 55.7 m | 59.8 m | 61.3 m | 60.4 m | 63.6 m | 69.3 m | 68.7 m |
| Research & development | 9.7 m | 10.6 m | 11.2 m | 10.7 m | 10.3 m | 10.5 m | 10.8 m | 11.0 m |
| Operating income | -1.5 m | 4.5 m | 5.0 m | 8.8 m | 6.8 m | 9.8 m | 11.4 m | 14.4 m |
| Depreciation & amortisation | 8.8 m | 8.7 m | 8.6 m | 8.4 m | 8.1 m | 8.1 m | 8.1 m | 8.1 m |
| Pre-tax income | -282.0 k | 6.0 m | 6.7 m | 10.3 m | 8.2 m | 11.3 m | 12.6 m | 16.2 m |
| Income tax | 122.0 k | 2.4 m | 2.2 m | 3.0 m | 2.2 m | 3.2 m | 3.5 m | 4.4 m |
| Net income | -404.0 k | 3.6 m | 4.4 m | 7.2 m | 6.0 m | 8.1 m | 9.2 m | 11.8 m |
| Diluted EPS | -0.02 ≈ | 0.15 | 0.18 | 0.30 | 0.25 ≈ | 0.33 | 0.37 | 0.48 |
| Operating cash flow | 17.3 m | 18.4 m | 10.6 m ≈ | 29.1 m ≈ | 16.5 m | 17.5 m | 15.4 m ≈ | 22.8 m ≈ |
| Capex | 830.0 k | 1.3 m | 1.5 m ≈ | 4.1 m ≈ | 8.1 m | 3.5 m | 6.2 m ≈ | 5.8 m ≈ |
| Share repurchases | 14.3 m | 20.9 m | 3.1 m ≈ | 12.8 m ≈ | 6.2 m | 0 | 5.0 m ≈ | 5.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 44 percentile of its own 36-quarter history (min 30.7, median 52.6, max 81.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 445.6 m | 458.7 m | 434.4 m | 488.1 m | 488.4 m | 503.9 m | 500.9 m | 533.1 m |
| Revenue YoY | +29.3% | +2.9% | −5.3% | +12.4% | +0.1% | +3.2% | −0.6% | +6.4% |
| Net income | 76.6 m | 63.7 m | 50.9 m | 33.4 m | -103.5 m | 17.2 m | 16.6 m | 21.2 m |
| Net income YoY | +47.9% | −16.9% | −20.1% | −34.4% | −410.0% | unavailable | −3.6% | +28.0% |
| Diluted EPS | 2.81 | 2.35 | 1.89 | 1.21 | -3.77 | 0.66 | 0.66 | 0.88 |
| Diluted EPS YoY | +45.6% | −16.4% | −19.6% | −36.0% | −411.6% | unavailable | 0.0% | +33.3% |
| net % | 17.2% | 13.9% | 11.7% | 6.8% | -21.2% | 3.4% | 3.3% | 4.0% |
| Free cash flow | 35.8 m | 53.8 m | 60.0 m | 21.0 m | 40.4 m | 45.2 m | 68.7 m | 59.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 110.8 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 673.9 m USD
- Total assets
- 763.4 m USD
- Debt / equity
- unavailable
- Current ratio
- 3.49x
- ROE
- 3.2%
- ROA
- 2.8%
- FCF margin
- 11.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 434.4 m | 488.1 m | 488.4 m | 503.9 m | 500.9 m | 533.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Cost of revenue | 216.6 m | 265.4 m | 272.9 m | 281.9 m | 277.7 m | 296.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Gross profit | 217.8 m | 222.7 m | 215.5 m | 222.0 m | 223.2 m | 237.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Research & development | 36.9 m | 44.2 m | 38.2 m | 40.1 m | 41.3 m | 42.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Operating income | 59.8 m | 40.3 m | -98.0 m | 28.2 m | 19.9 m | 25.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Depreciation & amortisation | 32.6 m | 40.5 m | 39.4 m | 37.5 m | 35.8 m | 33.8 m | SEC (XBRL)· 20 Feb 2026verified |
| EBITDA | 92.4 m ≈ | 80.8 m ≈ | -58.6 m ≈ | 65.7 m ≈ | 55.7 m ≈ | 58.9 m ≈ | SEC (XBRL)· 20 Feb 2026derived |
| Pre-tax income | 62.9 m | 40.2 m | -97.9 m | 28.0 m | 24.7 m | 31.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Income tax | 12.1 m | 6.8 m | 5.6 m | 10.7 m | 8.1 m | 9.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Net income | 50.9 m | 33.4 m | -103.5 m | 17.2 m | 16.6 m | 21.2 m | SEC (XBRL)· 20 Feb 2026verified |
| Diluted EPS | 1.89 | 1.21 | -3.77 | 0.66 | 0.66 | 0.88 | SEC (XBRL)· 20 Feb 2026verified |
| Weighted average diluted shares | 26.9 m | 27.7 m | 27.4 m | 26.2 m | 25.2 m | 24.2 m | SEC (XBRL)· 20 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 127.6 m | 65.9 m | 56.6 m | 83.8 m | 89.1 m | 110.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Receivables | 57.9 m | 80.1 m | 76.2 m | 72.8 m | 66.5 m | 79.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Inventories | 10.9 m | 13.2 m | 13.6 m | 13.7 m | 12.3 m | 14.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Current assets | 242.0 m | 183.5 m | 186.6 m | 200.7 m | 194.9 m | 233.5 m | SEC (XBRL)· 20 Feb 2026verified |
| Property, plant & equipment, net | 282.7 m | 280.3 m | 257.8 m | 253.7 m | 227.3 m | 215.3 m | SEC (XBRL)· 20 Feb 2026verified |
| Goodwill | 128.8 m | 400.6 m | 274.0 m | 274.0 m | 274.0 m | 274.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Intangibles (excl. goodwill) | 14.4 m | 38.0 m | 31.3 m | 25.6 m | 21.4 m | 18.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Total assets | 744.2 m | 928.6 m | 802.2 m | 772.4 m | 743.5 m | 763.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Accounts payable | 18.2 m | 25.4 m | 17.4 m | 15.6 m | 15.5 m | 15.1 m | SEC (XBRL)· 20 Feb 2026verified |
| Current liabilities | 50.3 m | 54.9 m | 71.6 m | 49.7 m | 53.3 m | 67.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Total liabilities | 99.8 m | 100.1 m | 104.5 m | 77.1 m | 73.4 m | 89.5 m | SEC (XBRL)· 20 Feb 2026verified |
| Equity | 644.4 m † | 828.5 m † | 697.6 m † | 695.3 m † | 670.2 m † | 673.9 m † | SEC (XBRL)· 20 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 107.0 m | 55.2 m | 62.1 m | 73.3 m | 77.8 m | 74.5 m | SEC (XBRL)· 20 Feb 2026verified |
| Capex | 47.0 m | 34.2 m | 21.7 m | 28.1 m | 9.2 m | 14.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Free cash flow | 60.0 m ≈ | 21.0 m ≈ | 40.4 m ≈ | 45.2 m ≈ | 68.7 m ≈ | 59.7 m ≈ | SEC (XBRL)· 20 Feb 2026derived |
| Investing cash flow | -95.5 m | -94.7 m | -43.1 m | -4.6 m | -13.6 m | -13.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Financing cash flow | -10.7 m | -22.2 m | -27.9 m | -41.9 m | -58.6 m | -40.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Share repurchases | 14.7 m | 23.3 m | 29.7 m | 44.0 m | 60.3 m | 43.0 m | SEC (XBRL)· 20 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.6 bn USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 22.40 – 32.01 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E22.40 – 32.01 (Mid 26.19)4 companies used · median multiple 18.3x · quartiles 15.7x – 22.4xACA, GFF, JBI, VMI
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 6.0% | 63 (vs peers) | 13% |
| FCF conversion · Quality | 138.8% | 100 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | 3.0% | 25 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 3.6x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 46.6x | 0 (on a fixed band) | 21% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.1% | 38 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 1.0% | 15 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial25/100 · 1/2 factors with a value
- Quality81/100 · 2/3 factors with a value
- Returns· partial15/100 · 1/2 factors with a value
- Valuation17/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Proto Labs, Inc. (PRLB). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 533.1 m USD in 2025; YoY growth 6.4%; net margin 6.0%; ROE 5.1%.
The estimated value range is 22.40–32.01 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 26.19 USD, the price of 66.48 USD leaves a potential of -60.6% (value / price − 1) and a margin of safety of -153.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 138.8%
- Current ratio: 3.6x
What contradicts it
- Revenue CAGR 3Y: 3.0%
- P/E (TTM): 46.6x
- Shareholder yield (distributions): 1.0%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Fabricated metal products (SIC 344x) · same industry group (3-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| VMIValmont Industries, Inc. | 8.1 bn | 15.9 | 30.8% | 12.1% | +0.7% | +2% / +92% |
| ACAArcosa, Inc. | 7.3 bn | 14.9 | 17.9% | 17.9% | +12.2% | +46% / +116% |
| GFFGriffon Corporation | 4.9 bn | 27.4 | 185.4% | 6.5% | −3.9% | +43% / +131% |
| PRLBProto Labs, Inc. | 1.6 bn | 46.6 | 5.1% | 6.0% | +6.4% | +38% / +110% |
| SMRNUSCALE POWER Corp | 1.2 bn | — | -30.2% | -3,888.7% | −15.0% | −74% / +85% |
| JBIJanus International Group, Inc. | 682.2 m | 20.7 | 6.0% | 3.7% | unavailable | −19% / −53% |
| IMSRTerrestrial Energy Inc. | 304.0 m | — | -36.8% | — | unavailable | −70% / unavailable |
| VATEInnovate Corp. | 74.1 m | — | — | -1.5% | +12.5% | +5% / −49% |
| TPCSTechprecision Corp | 53.6 m | — | -15.4% | -3.7% | −7.0% | +17% / −12% |
| MTENMingteng International Corporation Inc. | 8.4 m | — | -11.7% | -15.3% | +15.3% | −100% / unavailable |
1- and 3-year price returns: for PRLB from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 39.76 Total return -40% · Per year -40% | 70.35 Total return 6% · Per year 6% | 106.04 Total return 60% · Per year 60% |
| 3 years | 37.41 Total return -44% · Per year -17% | 74.58 Total return 12% · Per year 4% | 123.60 Total return 86% · Per year 23% |
| 5 years | 35.19 Total return -47% · Per year -12% | 79.07 Total return 19% · Per year 4% | 144.07 Total return 117% · Per year 17% |
- Exit P/E± 18.65
- Net margin± 13.05
- Annual revenue growth± 10.87
- Annual dilution± 1.10
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
In brief
Proto Labs is a digital manufacturing service that turns customers' 3D designs into custom parts through injection molding, CNC machining, 3D printing and sheet metal, combining its own factories with a partner network. The company reported revenue of $533.1 million in fiscal 2025 and $149.3 million in the second quarter of 2026, with raised full-year guidance, which shows steady demand for short-run and fast-turn parts.
SWOT
Strengths
- The automated digital model, a loyal customer base and a hybrid network of in-house and partner manufacturing offer speed and flexibility that traditional producers find hard to match.
- Patents and trade secrets protect manufacturing methods and pricing approaches, which supports the company's differentiation.
- Gross and operating margins rose in the second quarter of 2026, suggesting that scale is helping efficiency.
Weaknesses
- The number of unique customers has declined in recent years, which points to reliance on larger orders from a smaller set of clients.
- The company has foreign currency exposure without hedging, so revenues and expenses can be affected by exchange rates.
- Larger competitors may have superior financial resources and brand recognition, which makes the market harder to win.
Opportunities
- Expanding production into larger-volume work and new geographic regions could open additional revenue sources if the strategy with strategic customers takes hold.
- The partner network can absorb orders that do not fit internal capacity without large additional factory investment.
- The trend toward supply chain localization could favor companies with factories in the US and Europe.
Threats
- Competition from customers' in-house production and digital brokers could reduce market share if they expand their services.
- An economic slowdown could delay customers' development projects and reduce demand for prototypes.
- Data security and privacy regulation risks could damage reputation and create liability.
Risks
- Intense competitionhigh
The market is fragmented and competition is intensifying, and competitors could copy parts of the business model, which could affect operating results.
- Scaling technologymedium
If quoting and manufacturing systems cannot be scaled in time, the company could lose existing and new customers and its reputation could suffer.
- Operational interruptionsmedium
Problems with websites, IT systems or manufacturing processes could cause lost revenue, and business interruption insurance may not cover all losses.
- International and currency risksmedium
Foreign operations are exposed to policy changes, instability and exchange rate movements, and the company has not hedged its currency exposure.
- Customer data securitylow
The company stores confidential customer design information, and a security breach could lead to lost customers and legal exposure.
Investment thesis
What would need to be true (bull case)
- If revenue growth and margin expansion seen in the second quarter of 2026 persist, the digital model could support more profitable growth than in the past.
- A high share of revenue from existing customers and rising revenue per customer contact point to strong relationships with strategic clients.
- Automation and reshoring trends could favor a provider with factories in the US and Europe and a partner network.
What would break the thesis
- A decline in unique customers could signal a narrower market, and revenue growth could depend on a few large clients.
- Competition from customers' in-house production and digital brokers could limit growth and pressure prices.
- Currency and economic risks could reduce demand in Europe and other regions if the macroeconomic outlook worsens.
What to watch
- Delivery of full-year 2026 revenue growth guidance of 8% to 10%2026
- Trends in unique customer contacts and revenue per customer contactQ3 2026
- Development of non-GAAP gross margin and operating marginQ3 2026
- Results and any changes to the risk factors in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
The business
Proto Labs, incorporated in Minnesota in 1999, describes its business as the world's fastest manufacturing service, covering the full product life cycle from prototype to low-volume production. Customers upload CAD models, receive an automated quote with manufacturability analysis and order online. The company acquired Hubs in 2021 and launched Protolabs Network, a group of premium partners across North America, Europe and Asia that widens the range of processes, lead times and prices. Operations are organized in two geographic segments, the United States and Europe.
Segments
3D Printing and Sheet Metal
3D printing and sheet metal are smaller lines; in the first half of 2026 3D printing revenue was $41.132 million, roughly flat year-over-year, while sheet metal stayed at $8.813 million 23.
Protolabs Network
The partner network lets the company extend its range of processes and price and lead-time options without large factory investment, which it presents as a differentiator of its hybrid model 1.
Market context
The custom parts manufacturing market is described in the source as fragmented and highly competitive, with thousands of machine shops, molders and 3D printing bureaus. The company argues that low-volume custom parts have been underserved because of inefficiencies in quoting and tooling setup. Trends cited include labor shortages, vendor consolidation and trade policy volatility, which favor domestic sourcing in the US and Europe.
Trends
- Manufacturing labor shortagestailwind
Workforce gaps are accelerating investment in automation and smart factories, and the company's digital model, which reduces reliance on skilled labor, could prove an advantage.
- Vendor consolidationtailwind
Companies cutting their supplier count could favor a provider covering several processes, though it could also exclude small suppliers that are not integrated.
- Trade and regional uncertaintymixed
Shifting trade policies may push companies toward local sources, where the company's US and European presence is an asset, but investment could also pause and reduce demand.
- Shorter product life cyclesmixed
Shorter cycles raise demand for rapid prototyping and small batches, which fits the company's model, yet economic swings could delay customers' development projects.
Competitive position
Competition comes from machine shops, injection molders, 3D printing service bureaus, digital brokers that aggregate manufacturer networks, and large companies' in-house production. The source states that many competitors have greater financial resources and brand recognition than the company. Key competitive factors are speed, reliability, quality, service, capability, scale, capacity and price.
- Digital manufacturing brokers
Platforms that aggregate networks of manufacturers and can offer a broad range of processes and lead times, sometimes in direct competition with the company's offer.
- Machine shops and injection molders
Thousands of local and regional firms, from very small specialty shops to high-volume producers, competing on price and turnaround time.
- 3D printing service bureaus
Service providers that could develop stronger resins or other improvements to compete on part quality.
- Customers' in-house manufacturing
Many large companies have built their own printing, machining or molding capacity, which reduces outside demand for prototype parts.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Is Protolabs’ (PRLB) Next Chapter Hinged on an Unseen Gamble?Yahoo Finance — News · 23 Sept 2026 · EN
- Protolabs Rides Manufacturing MomentumBloomberg Markets · 24 Aug 2026 · EN
The latest news item in our archive is from 23 Sept 2026; the newest SEC filing is from 29 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report29 Oct 2026
- Current report29 Oct 2026Results of operations · Financial statements and exhibits
- Current report24 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report31 Jul 2026Results of operations · Financial statements and exhibits
- Current report20 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report07 May 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report01 May 2026
- Current report01 May 2026Results of operations · Financial statements and exhibits
- Proxy statement08 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Proto Labs, Inc. · 20 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Proto Labs, Inc. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Proto Labs, Inc. · 31 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.