- Proto Labs Inc (NYSE:PRLB) reported fourth-quarter revenue growth of 17.5% year-over-year to $123.6 million, beating the consensus of $117.36 million. Hubs generated $9.9 million of revenue, a 13% sequential increase.
- Adjusted EPS decreased to $0.41 from $0.50 in 4Q20, beating the consensus of $0.27.
- The gross margin contracted by 520 bps to 44.8%. The operating income increased 18.7% Y/Y to $13.05 million, and the margin expanded by 11 bps to 10.6%.
- Adjusted operating margin declined 450 bps to 10.9%.
- Proto Labs generated cash from operating activities of $55.24 million in 2021, compared to $106.97 million a year ago.
- Adjusted EBITDA declined 8.3% Y/Y to $22.23 million, and margin contracted by 505 bps to 18%.
- The company held a cash and investments balance of $91.8 million as of December 31, 2021.
- "With the acquisition of Hubs and the launch of Protolabs 2.0, we are well-positioned to execute on our long-term strategy to accelerate revenue growth and expand profitability," commented CEO Rob Bodor.
- Price Action: PRLB shares are trading higher by 5.89% at $56.65 during the premarket session on Friday.
