Proto Labs Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Proto Labs Inc. has filed its Q1 2024 10-Q report detailing financial performance and operational status.</b>

AI Summary

Proto Labs Inc (PRLB) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Proto Labs Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data and operational details for the period are presented. The report includes information on assets, liabilities, and equity as of March 31, 2024. Comparative data from previous periods is also included for analysis.

Why It Matters

For investors and stakeholders tracking Proto Labs Inc, this filing contains several important signals. Investors and analysts can assess Proto Labs' financial health and operational efficiency during the first quarter of 2024. The filing provides crucial data for understanding the company's current market position and future outlook.

Risk Assessment

Risk Level: low — Proto Labs Inc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to identify any emerging trends or risks.

Key Numbers

• 2024-03-31 — Reporting Period End Date (The end date for the financial reporting period.)
• 2024-05-03 — Filing Date (The date the 10-Q report was filed with the SEC.)
• 2024-01-01 — Quarter Start Date (The beginning of the first quarter of fiscal year 2024.)

Key Players & Entities

• Proto Labs Inc. (company) — Filer of the 10-Q report.
• Maple Plain, MN (location) — Business and mailing address of Proto Labs Inc.

FAQ

Industry Context

Proto Labs operates in the manufacturing sector, specifically in fabricated structural metal products, providing digital manufacturing services.

Regulatory Implications

The filing adheres to the requirements of the Securities Exchange Act of 1934, specifically Form 10-Q for quarterly reporting.

What Investors Should Do

1. Analyze Proto Labs' balance sheet as of March 31, 2024, for changes in assets, liabilities, and equity.
2. Review any disclosed revenue or net income figures for the first quarter of 2024.
3. Examine the company's cash flow statement for insights into operational, investing, and financing activities.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-03: Filing Date — The date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing for the first quarter of 2024, providing a baseline for comparison with subsequent filings.

Key Financial Figures

• $0.001 — ich registered Common Stock, Par Value $0.001 Per Share PRLB New York Stock Exchange

Filing Documents

• prlb-20240331.htm (10-Q) — 828KB
• prlb-20240331xexx311.htm (EX-31.1) — 10KB
• prlb-20240331xexx312.htm (EX-31.2) — 11KB
• prlb-20240331xexx321.htm (EX-32.1) — 7KB
• 0001628280-24-020233.txt (&nbsp;) — 4945KB
• prlb-20240331.xsd (EX-101.SCH) — 28KB
• prlb-20240331_cal.xml (EX-101.CAL) — 56KB
• prlb-20240331_def.xml (EX-101.DEF) — 136KB
• prlb-20240331_lab.xml (EX-101.LAB) — 482KB
• prlb-20240331_pre.xml (EX-101.PRE) — 332KB
• prlb-20240331_htm.xml (XML) — 667KB

Financial Statements

Financial Statements 2 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 24 4.

Controls and Procedures

Controls and Procedures 24 PART II 1.

Legal Proceedings

Legal Proceedings 25 1A.

Risk Factors

Risk Factors 25 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 3. Defaults Upon Senior Securities 25 4. Mine Safety Disclosures 25 5. Other Information 25 6. Exhibits 26 1 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Proto Labs, Inc. Consolidated Balance Sheets (In thousands, except share and per share amounts) March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 92,804 $ 83,790 Short-term marketable securities 16,875 19,013 Accounts receivable, net of allowance for doubtful accounts of $ 2,588 and $ 2,499 as of March 31, 2024, and December 31, 2023, respectively 77,849 72,848 Inventory 12,823 13,657 Income taxes receivable 644 2,228 Prepaid expenses and other current assets 9,425 9,124 Total current assets 210,420 200,660 Property and equipment, net 247,798 253,655 Goodwill 273,991 273,991 Other intangible assets, net 24,407 25,584 Long-term marketable securities 3,257 8,019 Operating lease assets 4,185 4,628 Finance lease assets 893 960 Other long-term assets 4,852 4,856 Total assets $ 769,803 $ 772,353 Liabilities and shareholders' equity Current liabilities Accounts payable $ 15,256 $ 15,636 Accrued compensation 16,239 15,292 Accrued liabilities and other 21,216 16,872 Current operating lease liabilities 1,549 1,585 Current finance lease liabilities 299 296 Income taxes payable 3,877 - Total current liabilities 58,436 49,681 Long-term operating lease liabilities 2,588 3,008 Long-term finance lease liabilities 519 595 Long-term deferred tax liabilities 16,482 18,742 Other long-term liabilities 4,468 5,032 Total liabilities 82,493 77,058 Shareholders' equity Preferred stock, $ 0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of March 31, 2024, and December 31, 2023 - - Common stock, $ 0.001 par value, authorized 150,000,000 shares; issued and outstanding 25,316,070 and 25,721,957 shares as of March 31, 2024, and December 31, 2023, respectively 26 26 Additional paid-in capital 462,715 466,884 Retained earnings 253,414 256,398 Accumulated other comprehensive loss ( 28,845 ) ( 28,013 ) Total shareholders' equity 687,310

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements Note 1 – Basis of Presentation The unaudited interim Consolidated Financial Statements of Proto Labs, Inc. (Protolabs, the Company, we, us or our) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X . In the opinion of management, the accompanying financial statements reflect all adjustments necessary for a fair presentation of the Company's statements of financial position, results of operations and cash flows for the periods presented. Except as otherwise disclosed herein, these adjustments consist of normal, recurring items. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. For further information, refer to the audited Consolidated Financial Statements and Notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (SEC) on February 16, 2024 . The accompanying Consolidated Balance Sheet as of December 31, 2023 was derived from the audited Consolidated Financial Statements but does not include all disclosures required by U.S. GAAP for a full set of financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Consolidated Financial Statements and Notes included in the Company's Annual Report on Form 10-K filed on February 16, 2024 as referenced above. Note 2 – R

View Full Filing

View this 10-Q filing on SEC EDGAR