- Proto Labs Inc (NYSE: PRLB) reported second-quarter revenue growth of 3.1% year-over-year to $126.9 million, missing the consensus of $127.27 million.
- Hubs generated $11.3 million of revenue, an increase of 26.3% Y/Y.
- Adjusted EPS of $0.46 beat the consensus of $0.39.
- Protolabs served 24,058 unique product developers during the quarter.
- Gross margin was 45.2%, compared to 46% in 2Q21. Adjusted gross margin was 45.9% versus 46.8% last year.
- Adjusted EBITDA was $24.6 million (+6.3% Y/Y), and the margin expanded by 60 bps to 19.4%.
- PRLB’s net cash provided by operating activities year-to-date totaled $31.04 million, compared to $20.73 million a year ago.
- Cash and investments balance was $110.1 million as of June 30, 2022.
- Price Action: PRLB shares are trading lower by 5.89% at $48.91 on the last check Friday.
Read at Benzinga