Proto Labs, Inc. reported record quarterly revenue of $136.5 million for the year‑ending December 31, 2025, a 12.1% increase from the $121.75 million earned in the same period a year earlier. Adjusted earnings per share rose to $0.44, beating the consensus estimate of $0.35 by $0.09, while GAAP earnings per share improved to $0.25 from a $0.02 loss in Q4 2024. The turnaround reflects stronger demand across the company’s core manufacturing services and disciplined cost management.
CNC machining, the company’s largest revenue driver, generated $65.5 million, up 25% year‑over‑year, while 3D printing contributed $19.8 million. Injection molding and other legacy segments saw modest declines, but the overall mix shift toward higher‑margin CNC work helped lift gross margin to 44.8% from 43.6% a year earlier. The mix shift also contributed to a 0.9‑percentage‑point drop in adjusted EBITDA margin, which fell to 14.7% from 15.6% in Q4 2024, largely due to higher raw‑material costs and capital‑intensive investments in new production capacity.
Proto Labs guided 2026 revenue growth to 6%–8% and non‑GAAP EPS for Q1 2026 to $0.36–$0.44, a range that aligns with the company’s confidence in sustained demand for high‑value production work. The guidance follows a $142.4 million cash and investments balance at year‑end, providing ample liquidity for the $100 million share‑repurchase program and ongoing capacity expansion. The company’s zero‑debt balance sheet further supports its ability to invest in growth initiatives.
"Proto Labs closed 2025 with strong momentum, delivering accelerated growth, record revenue, and solid earnings in the fourth quarter," said President and CEO Suresh Krishna. "While 2026 reflects a year of transformation and measured acceleration, the structural changes we are implementing will position us for continued success," he added. Chief Financial Officer Dan Schumacher emphasized that the company is focused on long‑term margin expansion driven by revenue growth and productivity improvements, reinforcing Proto Labs’ commitment to balancing growth with profitability.
Headwinds remain in Europe, where revenue decline prompted a strategic reset, but tailwinds in aerospace and medical‑device markets—bolstered by the company’s ISO 13485 certification for its Raleigh, North Carolina metal 3D printing facility—continue to open new revenue streams. The certification has enabled Proto Labs to secure higher‑margin contracts in regulated industries, offsetting pressure from legacy segments and supporting the company’s shift toward higher‑value production manufacturing.
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