Proto Labs Q1 revenue beats estimates on CNC machining growth

Proto Labs

01/05/2026 11:09

Overview

US digital manufacturing services provider's Q1 revenue rose 10.4% yr/yr, beating analyst expectations

Adjusted net income for Q1 beat consensus, with non-GAAP EPS rising to $0.54

Company attributed results to strong demand and disciplined execution

Outlook

Proto Labs expects Q2 revenue between $140 mln and $148 mln

Company sees Q2 diluted net income per share between $0.29 and $0.37

Proto Labs forecasts 2026 revenue growth of 6% to 8%

Result Drivers

CNC MACHINING GROWTH - Revenue from CNC machining rose 19.7% yr/yr, outpacing other service lines

HIGHER REVENUE PER CUSTOMER - Revenue per customer contact increased 20.4% yr/yr, indicating higher average spend

STRONG DEMAND - Co cited strong demand for digital manufacturing services as a key driver, per CEO Suresh Krishna

Company press release: ID:nBw1BlMpja

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$139.34 mln
$135.14 mln (5 Analysts)
Q1 Adjusted Net Income
Beat
$13.10 mln
$8.45 mln (5 Analysts)
Q1 Net Income
$8.11 mln
Q1 Gross Profit
$63.59 mln
Q1 Operating Expenses
$53.75 mln
Q1 Operating Income
$9.84 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

Wall Street's median 12-month price target for Proto Labs Inc is $70.00, about 8% above its April 30 closing price of $64.81

The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 32 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)