Proto Labs, Inc. announced its financial results for the first quarter ended March 31, 2025, reporting revenue of $126.2 million. This represents a 1.3% decrease compared to $127.9 million in the first quarter of 2024. Revenue fulfilled through the Protolabs Network grew by 10.0% to $26.3 million.
The company reported a GAAP net income of $3.6 million, or $0.15 per diluted share, and non-GAAP earnings of $0.33 per share. Gross profit for the quarter was $55.7 million, with a gross margin of 44.1%. Proto Labs generated robust operating cash flow of $18.4 million and repurchased $20.9 million of common stock during the quarter.
Management provided guidance for the second quarter of 2025, projecting revenue between $124 million and $132 million, with a midpoint of $128 million. Non-GAAP earnings per share are expected to be between $0.30 and $0.38. The number of customers utilizing both factory and network offerings increased by over 45% over the trailing 12 months ending Q1 2025.
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