PRLB - Proto Labs stumbles after cost inflation hits Q3 earnings
Proto Labs (NYSE:PRLB) is down 18% after record revenue couldn't meet consensus estimates, reporting miss on both-lines in its Q3 earnings results. Revenue of $125.3M (+16.6% Y/Y) misses by $2.02M. Hubs generated $8.8M of revenue. "Our earnings in the third quarter were impacted by post pandemic-related cost inflation, as well as continued investments in our systems and product offering," says CFO John Way. Non-GAAP gross margin was 44.9% EBITDA of $17.11M with EBITDA margin of 13.7%. Protolabs served 23,457 unique product developers during the quarter, representing a 24.8% Y/Y. Non-GAAP EPS of $0.35 misses by $0.08; GAAP EPS of $0.17 misses by $0.12. The company ended the quarter with $83.9M in cash and investments balance.
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Proto Labs stumbles after cost inflation hits Q3 earnings