$PRLB
Proto Labs Inc

2018 Q2 Form 10-Q Financial Statement

#000143774918014168 Filed on August 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $109.7M $82.04M
YoY Change 33.66% 9.44%
Cost Of Revenue $50.44M $35.67M
YoY Change 41.4% 9.04%
Gross Profit $59.21M $46.37M
YoY Change 27.7% 9.76%
Gross Profit Margin 54.0% 56.52%
Selling, General & Admin $30.20M $23.88M
YoY Change 26.44% 10.68%
% of Gross Profit 51.0% 51.51%
Research & Development $7.032M $6.084M
YoY Change 15.58% 4.61%
% of Gross Profit 11.88% 13.12%
Depreciation & Amortization $6.400M $4.400M
YoY Change 45.45% 2.33%
% of Gross Profit 10.81% 9.49%
Operating Expenses $37.23M $29.97M
YoY Change 24.23% 9.39%
Operating Profit $21.98M $16.40M
YoY Change 34.03% 10.44%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $808.0K $1.173M
YoY Change -31.12% 7.42%
Pretax Income $22.79M $17.58M
YoY Change 29.68% 10.24%
Income Tax $4.478M $5.489M
% Of Pretax Income 19.65% 31.23%
Net Earnings $18.31M $12.09M
YoY Change 51.53% 13.05%
Net Earnings / Revenue 16.7% 14.73%
Basic Earnings Per Share $0.68 $0.46
Diluted Earnings Per Share $0.67 $0.45
COMMON SHARES
Basic Shares Outstanding 26.97M 26.54M
Diluted Shares Outstanding 27.27M 26.65M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.2M $147.5M
YoY Change -18.51% 52.85%
Cash & Equivalents $62.61M $99.20M
Short-Term Investments $57.60M $48.30M
Other Short-Term Assets $7.700M $5.900M
YoY Change 30.51% 7.27%
Inventory $9.590M $9.327M
Prepaid Expenses
Receivables $55.93M $42.21M
Other Receivables $0.00 $0.00
Total Short-Term Assets $193.4M $204.9M
YoY Change -5.61% 38.08%
LONG-TERM ASSETS
Property, Plant & Equipment $197.3M $146.4M
YoY Change 34.83% 5.54%
Goodwill $128.8M $28.92M
YoY Change 345.26% 0.0%
Intangibles
YoY Change
Long-Term Investments $24.60M $69.40M
YoY Change -64.55% 2.51%
Other Assets $3.519M $2.650M
YoY Change 32.79% 103.07%
Total Long-Term Assets $372.8M $249.7M
YoY Change 49.27% 4.22%
TOTAL ASSETS
Total Short-Term Assets $193.4M $204.9M
Total Long-Term Assets $372.8M $249.7M
Total Assets $566.2M $454.7M
YoY Change 24.53% 17.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.04M $14.15M
YoY Change 41.64% 23.72%
Accrued Expenses $23.70M $15.50M
YoY Change 52.9% 27.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.38M $31.05M
YoY Change 42.94% 31.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.788M $4.186M
YoY Change 14.38% 42.96%
Total Long-Term Liabilities $4.788M $4.186M
YoY Change 14.38% 42.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.38M $31.05M
Total Long-Term Liabilities $4.788M $4.186M
Total Liabilities $59.93M $43.85M
YoY Change 36.68% 40.37%
SHAREHOLDERS EQUITY
Retained Earnings $262.5M $197.2M
YoY Change 33.12% 26.94%
Common Stock $250.1M $221.0M
YoY Change 13.16% 6.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $506.3M $410.8M
YoY Change
Total Liabilities & Shareholders Equity $566.2M $454.7M
YoY Change 24.53% 17.17%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $18.31M $12.09M
YoY Change 51.53% 13.05%
Depreciation, Depletion And Amortization $6.400M $4.400M
YoY Change 45.45% 2.33%
Cash From Operating Activities $33.20M $20.60M
YoY Change 61.17% 4.57%
INVESTING ACTIVITIES
Capital Expenditures -$17.70M -$5.500M
YoY Change 221.82% -60.99%
Acquisitions
YoY Change
Other Investing Activities $2.000M $10.40M
YoY Change -80.77% -966.67%
Cash From Investing Activities -$15.70M $4.900M
YoY Change -420.41% -131.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000M 1.900M
YoY Change -47.37% -29.63%
NET CHANGE
Cash From Operating Activities 33.20M 20.60M
Cash From Investing Activities -15.70M 4.900M
Cash From Financing Activities 1.000M 1.900M
Net Change In Cash 18.50M 27.40M
YoY Change -32.48% 291.43%
FREE CASH FLOW
Cash From Operating Activities $33.20M $20.60M
Capital Expenditures -$17.70M -$5.500M
Free Cash Flow $50.90M $26.10M
YoY Change 95.02% -22.78%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
514000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43194000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13301000
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7678000
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6267000
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
284000
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3306000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3791000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
29056000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
25194000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
197339000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
166440000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7032000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6084000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13697000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11907000
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
262522000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
224697000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
109652000
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
82040000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
217397000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
162207000
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
17557000
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14630000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
34129000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27617000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2700000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2200000
us-gaap Share Based Compensation
ShareBasedCompensation
5034000
us-gaap Share Based Compensation
ShareBasedCompensation
3958000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
168243
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
49.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
17077
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
34386
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
49.76
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
399397
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
307765
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
51.14
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
62.14
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
37.04
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
61.30
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
109.91
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2018Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
5000000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
108941
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
506253000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
461215000
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4400000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4200000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27274882
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26649152
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27232215
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26710217
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26972990
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26541978
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26925673
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26554262

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