$PRLB
Proto Labs Inc

2024 Q3 Form 10-Q Financial Statement

#000162828024034354 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $125.6M $125.6M
YoY Change -3.89% 2.75%
Cost Of Revenue $68.39M $69.09M
YoY Change -4.25% -0.08%
Gross Profit $57.23M $56.55M
YoY Change -3.46% 6.44%
Gross Profit Margin 45.56% 45.01%
Selling, General & Admin $38.88M $39.89M
YoY Change 0.36% 6.22%
% of Gross Profit 67.93% 70.54%
Research & Development $9.772M $10.66M
YoY Change -3.3% 8.07%
% of Gross Profit 17.07% 18.85%
Depreciation & Amortization $8.909M $8.972M
YoY Change -4.2% -5.51%
% of Gross Profit 15.57% 15.87%
Operating Expenses $48.65M $50.55M
YoY Change -0.44% 6.6%
Operating Profit $8.580M $5.999M
YoY Change -17.62% 5.13%
Interest Expense $1.288M $1.361M
YoY Change 329.33% -140.41%
% of Operating Profit 15.01% 22.69%
Other Income/Expense, Net $1.288M $1.361M
YoY Change 302.5% -140.41%
Pretax Income $9.868M $7.360M
YoY Change -8.08% 228.57%
Income Tax $2.679M $2.800M
% Of Pretax Income 27.15% 38.04%
Net Earnings $7.189M $4.540M
YoY Change -9.62% -1285.38%
Net Earnings / Revenue 5.72% 3.61%
Basic Earnings Per Share $0.29 $0.18
Diluted Earnings Per Share $0.29 $0.18
COMMON SHARES
Basic Shares Outstanding 25.15M shares 25.32M shares
Diluted Shares Outstanding 25.02M shares 25.37M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.5M $112.9M
YoY Change -2.13% 30.66%
Cash & Equivalents $87.87M $96.15M
Short-Term Investments $12.64M $16.79M
Other Short-Term Assets $10.02M $10.03M
YoY Change 15.16% 18.03%
Inventory $12.42M $12.36M
Prepaid Expenses
Receivables $69.46M $70.89M
Other Receivables $665.0K $1.400M
Total Short-Term Assets $193.1M $207.6M
YoY Change -5.59% 12.14%
LONG-TERM ASSETS
Property, Plant & Equipment $242.2M $243.7M
YoY Change -0.33% -9.28%
Goodwill $274.0M $274.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $17.12M $0.00
YoY Change 40.33% -100.0%
Other Assets $4.491M $4.839M
YoY Change 3.46% 2.13%
Total Long-Term Assets $560.7M $550.6M
YoY Change -3.28% -7.01%
TOTAL ASSETS
Total Short-Term Assets $193.1M $207.6M
Total Long-Term Assets $560.7M $550.6M
Total Assets $753.8M $758.2M
YoY Change -3.88% -2.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.00M $15.91M
YoY Change -16.28% -3.42%
Accrued Expenses $37.45M $34.73M
YoY Change -3.72% 5.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $306.0K $302.0K
YoY Change -98.16% -98.18%
Total Short-Term Liabilities $53.76M $50.95M
YoY Change -27.97% -23.07%
LONG-TERM LIABILITIES
Long-Term Debt $365.0K $443.0K
YoY Change -47.86% -40.54%
Other Long-Term Liabilities $6.982M $4.790M
YoY Change 30.72% -29.24%
Total Long-Term Liabilities $7.347M $4.790M
YoY Change 37.56% -36.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.76M $50.95M
Total Long-Term Liabilities $7.347M $4.790M
Total Liabilities $73.79M $72.97M
YoY Change -25.7% -22.8%
SHAREHOLDERS EQUITY
Retained Earnings $252.8M $253.2M
YoY Change 0.6% 2.56%
Common Stock $454.1M $461.4M
YoY Change -2.13% -0.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $680.0M $685.2M
YoY Change
Total Liabilities & Shareholders Equity $753.8M $758.2M
YoY Change -3.88% -2.45%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $7.189M $4.540M
YoY Change -9.62% -1285.38%
Depreciation, Depletion And Amortization $8.909M $8.972M
YoY Change -4.2% -5.51%
Cash From Operating Activities $24.75M $14.44M
YoY Change 2.71% 55.48%
INVESTING ACTIVITIES
Capital Expenditures $1.555M $4.197M
YoY Change -49.84% 23.88%
Acquisitions
YoY Change
Other Investing Activities -$12.79M $3.443M
YoY Change -346.02% -49.51%
Cash From Investing Activities -$14.35M -$754.0K
YoY Change -783.24% -121.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.09M -10.29M
YoY Change 112.13% 27.64%
NET CHANGE
Cash From Operating Activities 24.75M 14.44M
Cash From Investing Activities -14.35M -754.0K
Cash From Financing Activities -19.09M -10.29M
Net Change In Cash -8.686M 3.396M
YoY Change -150.5% -27.06%
FREE CASH FLOW
Cash From Operating Activities $24.75M $14.44M
Capital Expenditures $1.555M $4.197M
Free Cash Flow $23.20M $10.25M
YoY Change 10.47% 73.63%

Facts In Submission

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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
371313 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
407119 shares
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
4540000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-383000 usd
us-gaap Net Income Loss
NetIncomeLoss
9808000 usd
us-gaap Net Income Loss
NetIncomeLoss
2276000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25313036 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26210478 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25473937 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26414467 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
59936 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
99407 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
30960 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25372972 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26210478 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25573344 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26445427 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
53556000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
30129000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23427000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
53944000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28360000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
25584000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-1700000 usd
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-1300000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
900000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1900000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1815000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3630000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3529000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3520000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2151000 usd
CY2024Q2 prlb Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
8782000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23427000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
17009000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
217000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
16792000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
27434000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
402000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
27032000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
16792000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
16792000 usd
CY2024Q2 us-gaap Inventory Gross
InventoryGross
13042000 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
14319000 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
685000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
662000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
12357000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
13657000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4200000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3700000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7400000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
371313 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
59.92
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
139215 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
33.41
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
29729 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
76.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
5094 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
67.78
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
475705 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
51.06
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
190014 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
70.24
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
18.15
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2800000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000.0 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.383
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.171
CY2024Q2 prlb Effective Income Tax Rate Continuing Operations Increase Decrease During The Period
EffectiveIncomeTaxRateContinuingOperationsIncreaseDecreaseDuringThePeriod
-0.788
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.350
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.687
prlb Effective Income Tax Rate Continuing Operations Increase Decrease During The Period
EffectiveIncomeTaxRateContinuingOperationsIncreaseDecreaseDuringThePeriod
-0.337
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2024Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3600000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3600000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
125631000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
122265000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
253521000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
248124000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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Financial_Report.xlsx Edgar Link pending
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prlb-20240630_pre.xml Edgar Link unprocessable
prlb-20240630_htm.xml Edgar Link completed
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