Proto Labs Posts Record Quarterly Revenue of $154.3 Million and Raises 2026 Outlook

Key Facts

Proto Labs reported record revenue of $154.3 million in the third quarter ended September 30, 2026, up 14.0% from the same period a year earlier, according to the company's statement published through Nasdaq. Diluted earnings per share were $0.48 under GAAP, compared with $0.30 a year earlier. On a non-GAAP basis, diluted earnings were $0.63 per share, versus $0.47 in the third quarter of 2025. Analysts had expected $0.60 per share and revenue of $149.31 million on average before the announcement, according to MarketBeat. Revenue therefore exceeded the published estimate, while non-GAAP earnings per share were above it; the GAAP figure was below the average earnings estimate. The company's shares, listed under the ticker PRLB, closed at $90.91 on October 28, according to EL7 data.

Revenue grew across the three service lines identified in the company's statement, though growth rates varied. CNC machining revenue rose 16.4% year over year in the third quarter. Injection molding revenue increased 12.5%, while 3D printing revenue grew 11.4%. All three services posted double-digit growth, with CNC leading the other two lines. Chief Executive Suresh Krishna said the company had delivered double-digit revenue growth for the fourth consecutive quarter. Krishna attributed the momentum to execution and demand from industries that value speed, quality and manufacturing flexibility, according to the earnings statement.

Revenue growth coincided with higher operating margins compared with the third quarter of last year. The GAAP operating margin was 9.4%, up from 6.5% in the same period of 2025. The non-GAAP operating margin rose to 11.9% from 10.0%. The statement presents the results on separate measures, as it does earnings-per-share figures, so the values differ according to the measurement method. The year-over-year comparison shows improvement in both margins in the quarter in which the company posted record revenue. In the second quarter of 2026, the company had reported record revenue of $149.3 million, up 10.6% year over year.

The company raised its forecast for revenue growth in fiscal 2026 to a range of 10% to 11%, from its previous range of 8% to 10%, according to the earnings statement. The revision follows an earlier increase in the second quarter, when the company lifted its annual growth forecast from 6% to 8% to 8% to 10%. Second-quarter revenue was then $149.3 million, up 10.6% year over year, according to the company's announcement. For the fourth quarter of 2026, Proto Labs expects revenue of between $143.0 million and $151.0 million. It also expects GAAP diluted earnings per share of between $0.28 and $0.36 in the same quarter. A previous company statement had set October 29 as the date for releasing third-quarter results before the market opened, with a call to discuss them at 8:30 a.m. Eastern time.