Proto Labs reported record second‑quarter revenue of $149.3 million, up 10.6% year‑over‑year, and delivered non‑GAAP EPS of $0.60, topping the $0.55 consensus. The beat underscores stronger pricing power and margin expansion, signaling higher cash flow potential and supporting the upgraded 8‑10% full‑year growth outlook for investors.

Key Highlights

  • Record Q2 revenue of $149.3 million, up 10.6% year‑over‑year.
  • GAAP operating margin 7.6% and non‑GAAP margin 12.0%, with adjusted EBITDA of $25.1 million (16.8% of revenue).
  • Full‑year 2026 revenue growth guidance lifted to 8‑10%.

Proto Labs (NYSE: PRLB) delivered a record second‑quarter revenue of $149.3 million, reflecting a 10.6% increase over the same period last year. In addition, management lifted its full‑year 2026 revenue growth guidance to a range of 8‑10%, signaling confidence in continued expansion.

Record Revenue and Earnings Performance

The quarter’s headline revenue of $149.3 million surpassed the prior year’s level, delivering the disclosed 10.6% growth.

Margin Expansion and Cash Generation

GAAP operating margin rose to 7.6%, and non‑GAAP operating margin increased to 12.0%, illustrating effective cost management and leverage of scale. Adjusted EBITDA climbed to $25.1 million, representing 16.8% of revenue. Cash generated from operations amounted to $15.4 million, contributing to a total cash and investments balance of $162.9 million at quarter‑end.

Growth in revenue per customer contact and double‑digit gains in CNC machining and injection molding supported these margin improvements.

Market Reaction

The results were met with a positive market response, with the stock advancing following the earnings release. Investor confidence was reinforced by the strong top‑line performance and the upgraded growth outlook, positioning the company favorably within the on‑demand digital manufacturing sector.

Outlook and Upcoming Catalyst

Proto Labs now anticipates full‑year 2026 revenue growth of 8‑10%, up from its previous outlook. Management will address these expectations and further details during its next earnings call. The guidance reflects a continued focus on margin expansion, cash generation, and strategic investment in manufacturing capabilities.

Analysis based on the Form 8-K filed 31 July 2026; figures verified against the filing and live market data.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.