Proto Labs Inc. Files Q2 2024 10-Q Financials

TL;DR

Proto Labs Q2 10-Q is in: Balance sheet details for June 30, 2024, are out.

AI Summary

Proto Labs Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including balance sheet information as of June 30, 2024, and comparative periods. Specific financial statement line items such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are presented for various reporting periods within 2023 and 2024.

Why It Matters

This 10-Q filing provides investors and analysts with the official financial health update for Proto Labs Inc. for the second quarter of 2024, crucial for understanding the company's operational performance and financial stability.

Risk Assessment

Risk Level: low — This filing is a routine quarterly financial report and does not contain immediate, significant negative news.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240802 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Proto Labs Inc. (company) — Filer of the 10-Q report
• June 30, 2024 (date) — End of the reporting period for the 10-Q
• 20240630 (date) — Conformed period of report
• 20240802 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

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

Filing Documents

• prlb-20240630.htm (10-Q) — 1054KB
• prlb-20240630xexx101.htm (EX-10.1) — 125KB
• prlb-20240630xexx102.htm (EX-10.2) — 22KB
• prlb-20240630xexx103.htm (EX-10.3) — 28KB
• prlb-20240630xexx311.htm (EX-31.1) — 10KB
• prlb-20240630xexx312.htm (EX-31.2) — 11KB
• prlb-20240630xexx321.htm (EX-32.1) — 7KB
• 0001628280-24-034354.txt ( ) — 5801KB
• prlb-20240630.xsd (EX-101.SCH) — 28KB
• prlb-20240630_cal.xml (EX-101.CAL) — 61KB
• prlb-20240630_def.xml (EX-101.DEF) — 141KB
• prlb-20240630_lab.xml (EX-101.LAB) — 508KB
• prlb-20240630_pre.xml (EX-101.PRE) — 346KB
• prlb-20240630_htm.xml (XML) — 785KB

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 26 4.

Controls and Procedures

Controls and Procedures 26 PART II 1.

Legal Proceedings

Legal Proceedings 27 1A.

Risk Factors

Risk Factors 27 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 3. Defaults Upon Senior Securities 27 4. Mine Safety Disclosures 27 5. Other Information 27 6. Exhibits 28 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) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 96,149 $ 83,790 Short-term marketable securities 16,792 19,013 Accounts receivable, net of allowance for doubtful accounts of $ 2,610 and $ 2,499 as of June 30, 2024, and December 31, 2023, respectively 70,891 72,848 Inventory 12,357 13,657 Income taxes receivable 1,400 2,228 Prepaid expenses and other current assets 10,034 9,124 Total current assets 207,623 200,660 Property and equipment, net 243,710 253,655 Goodwill 273,991 273,991 Other intangible assets, net 23,427 25,584 Long-term marketable securities — 8,019 Operating lease assets 3,790 4,628 Finance lease assets 826 960 Other long-term assets 4,839 4,856 Total assets $ 758,206 $ 772,353 Liabilities and shareholders' equity Current liabilities Accounts payable $ 15,910 $ 15,636 Accrued compensation 15,544 15,292 Accrued liabilities and other 17,656 16,872 Current operating lease liabilities 1,534 1,585 Current finance lease liabilities 302 296 Total current liabilities 50,946 49,681 Long-term operating lease liabilities 2,203 3,008 Long-term finance lease liabilities 443 595 Long-term deferred tax liabilities 14,588 18,742 Other long-term liabilities 4,790 5,032 Total liabilities 72,970 77,058 Shareholders' equity Preferred stock, $ 0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of June 30, 2024, and December 31, 2023 — — Common stock, $ 0.001 par value, authorized 150,000,000 shares; issued and outstanding 25,147,616 and 25,721,957 shares as of June 30, 2024, and December 31, 2023, respectively 26 26 Additional paid-in capital 461,400 466,884 Retained earnings 253,242 256,398 Accumulated other comprehensive loss ( 29,432 ) ( 28,013 ) Total shareholders' equity 685,236 695,295 Total liabilities and sha

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

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View this 10-Q filing on SEC EDGAR