Attached files
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| 8-K - FORM 8-K - Proto Labs Inc | prlb20160727_8k.htm |
Exhibit 99.1
 |
Proto Labs Reports Financial Results for the Second Quarter 2016
Quarterly Revenue Increases 17 Percent Year over Year to Record $75.0 Million
MAPLE PLAIN, Minn. – July 28, 2016 – Proto Labs, Inc. (NYSE: PRLB), a leading online and technology-enabled, quick-turn, on-demand manufacturer, today announced financial results for the second quarter ended June 30, 2016.
Second Quarter 2016 Highlights include:
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● |
Revenue for the second quarter of 2016 was $75.0 million, 17 percent above revenue of $64.0 million in the second quarter of 2015. Alphaform, the German company acquired in the fourth quarter of 2015, contributed $4.8 million in revenue in the second quarter. Excluding this contribution, legacy revenue totaled $70.2 million, an increase of 10 percent compared with the second quarter of 2015. |
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● |
Revenue from 3D printing totaled $9.1 million. Excluding Alphaform’s $2.1 million in 3D printing revenue, legacy 3D printing revenue was $7.0 million, an increase of 29 percent from the 2015 second quarter. |
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● |
The number of unique product developers and engineers served increased 14 percent to 13,519 from 11,822 in the second quarter of 2015. |
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● |
Net income for the second quarter of 2016 was $10.7 million, or $0.40 per diluted share. Non-GAAP net income, excluding the after-tax expense of stock compensation, amortization of intangibles, nonrecurring expenses and unrealized foreign currency gains, was $12.0 million, or $0.45 per diluted share. See “Non-GAAP Financial Measures” below. |
“Revenue growth was solid in the second quarter, driven by continued strong growth in 3D printing, strength in our European markets, and the contribution from Alphaform,” said Vicki Holt, President and Chief Executive Officer. “We were also pleased with the legacy growth in Europe in the quarter, which grew 24 percent and we saw an improved performance in Japan with a revenue increase of 46 percent year over year. In the Americas, we experienced slower than expected growth in injection molding and CNC machining. This was primarily due to a slowdown in the US industrial economy as well as attrition in sales leadership.
“During the quarter, we improved our gross margins in both our legacy operations as well as in our Alphaform business. We are also beginning to see traction from our expanded sales and marketing efforts of 3D printing in Europe and anticipate this business will continue to grow throughout the year.”
Additional Second Quarter 2016 Highlights include:
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● |
Gross margin was 56.4 percent of revenue for the second quarter compared with 58.7 percent for the second quarter of 2015 and 54.6 in the first quarter of 2016. Alphaform had a 310 basis point negative impact on gross margin in the second quarter of 2016. |
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● |
GAAP operating margin was 19.8 percent of revenue during the second quarter of 2016 compared to 27.1 percent for the second quarter of 2015. On a non-GAAP basis, operating margin was 23.6 percent. See “Non-GAAP Financial Measures” below. |
|
● |
Cash generated from operations during the second quarter was $19.9 million. Cash and investments increased $7.1 million during the quarter to $164.3 million at June 30, 2016. |
“Over the next several quarters, we will be focused on driving actions to improve our sales performance and efficiency through our operations and we expect to see improvement in sales growth, especially in the Americas, over time. We remain confident in the fundamentals in our business - our market size, differentiated proposition and excellent customer experience.” Ms. Holt concluded.
Non-GAAP Financial Measures
The company has included non-GAAP adjusted revenue growth that excludes the impact of changes in foreign currency exchange rates and legacy revenue excluding the revenue contribution from Alphaform from total revenues in this press release to provide investors with additional information regarding the company’s financial results. Management believes these metrics are useful in evaluating the underlying business trends and ongoing operating performance of the company.
The company has also included non-GAAP net income, adjusted for stock-based compensation expense, amortization expense, unrealized foreign currency activity, impairment on assets and charges related to the exit of facilities (collectively, “non-GAAP net income”), in this press release to provide investors with additional information regarding the company’s financial results.
The company has also included a reconciliation of non-GAAP condensed consolidated statement of operations to GAAP condensed consolidated statement of operations. The non-GAAP condensed consolidated statement of operations provides non-GAAP operating income and non-GAAP net income, which are used by the company’s management and board of directors to understand and evaluate operating performance and trends and provide useful measures for period-to-period comparisons of the company’s business. Accordingly, the company believes that non-GAAP operating income and non-GAAP net income provide useful information to investors and others in understanding and evaluating operating results in the same manner as our management and board of directors.
Conference Call
The company has scheduled a conference call to discuss its second quarter financial results today, July 28, 2016 at 8:30 a.m. ET. To access the call in the U.S. please dial 877-709-8150. Outside the U.S. please dial 201-689-8354. No participant code is required. A simultaneous webcast of the call will be available via the investor relations section of the Proto Labs website and the following link: http://edge.media-server.com/m/p/dwf9w9tm/lan/en. A replay will be available for 14 days following the call on the investor relations section of Proto Labs’ website.
About Proto Labs, Inc.
Proto Labs is the world’s fastest digital manufacturing source for custom prototypes and low-volume production parts. The technology-enabled company uses advanced 3D printing, CNC machining and injection molding technologies to produce parts within days. The result is an unprecedented speed-to-market value for product designers and engineers worldwide. Visit protolabs.com for more information.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical or current facts are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Proto Labs to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are described in the “Risk Factors” section within reports filed with the SEC. Other unknown or unpredictable factors also could have material adverse effects on Proto Labs’ future results. The forward-looking statements included in this press release are made only as of the date hereof. Proto Labs cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Proto Labs expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
Contacts:
Investor Relations:
John Way, 763-479-7726
john.way@protolabs.com
Jenifer Kirtland, 408-656-9496
jkirtland@evcgroup.com
Media Relations:
Bill Dietrick, 763-479-7664
bill.dietrick@protolabs.com
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Proto Labs, Inc. |
|
Condensed Consolidated Balance Sheets |
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(In thousands) |
|
June 30, |
December 31, |
|||||||
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2016 |
2015 |
|||||||
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(Unaudited) |
||||||||
|
Assets |
||||||||
|
Current assets |
||||||||
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Cash and cash equivalents |
$ | 57,331 | $ | 47,653 | ||||
|
Short-term marketable securities |
39,216 | 33,201 | ||||||
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Accounts receivable, net |
34,486 | 36,125 | ||||||
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Inventory |
9,901 | 9,771 | ||||||
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Income taxes receivable |
2,005 | 6,028 | ||||||
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Other current assets |
5,468 | 5,224 | ||||||
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Total current assets |
148,407 | 138,002 | ||||||
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Property and equipment, net |
138,685 | 125,475 | ||||||
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Long-term marketable securities |
67,730 | 64,789 | ||||||
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Goodwill |
28,916 | 28,916 | ||||||
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Other intangible assets, net |
2,980 | 3,337 | ||||||
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Other long-term assets |
1,305 | 517 | ||||||
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Total assets |
$ | 388,023 | $ | 361,036 | ||||
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Liabilities and shareholders' equity |
||||||||
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Current liabilities |
||||||||
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Accounts payable |
$ | 11,435 | $ | 13,643 | ||||
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Accrued compensation |
9,753 | 9,993 | ||||||
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Accrued liabilities and other |
2,491 | 2,626 | ||||||
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Total current liabilities |
23,679 | 26,262 | ||||||
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Long-term deferred tax liabilities |
4,632 | 4,240 | ||||||
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Other long-term liabilities |
2,928 | 2,889 | ||||||
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Shareholders' equity |
356,784 | 327,645 | ||||||
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Total liabilities and shareholders' equity |
$ | 388,023 | $ | 361,036 | ||||
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Proto Labs, Inc. |
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Condensed Consolidated Statements of Operations |
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(In thousands, except share and per share amounts) |
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(Unaudited) |
|
Three Months Ended |
Six Months Ended |
|||||||||||||||
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June 30, |
June 30, |
|||||||||||||||
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2016 |
2015 |
2016 |
2015 |
|||||||||||||
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Revenue |
||||||||||||||||
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Injection Molding (Protomold) |
$ | 44,762 | $ | 39,932 | $ | 87,931 | $ | 77,550 | ||||||||
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CNC Machining (Firstcut) |
19,854 | 18,585 | 38,729 | 34,955 | ||||||||||||
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3D Printing (Fineline) |
9,099 | 5,452 | 18,209 | 10,000 | ||||||||||||
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Other |
1,246 | - | 2,660 | - | ||||||||||||
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Total revenue |
74,961 | 63,969 | 147,529 | 122,505 | ||||||||||||
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Cost of revenue |
32,715 | 26,419 | 65,629 | 49,701 | ||||||||||||
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Gross profit |
42,246 | 37,550 | 81,900 | 72,804 | ||||||||||||
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Operating expenses |
||||||||||||||||
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Marketing and sales |
11,453 | 9,502 | 22,395 | 18,356 | ||||||||||||
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Research and development |
5,816 | 4,397 | 11,134 | 8,711 | ||||||||||||
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General and administrative |
10,126 | 6,304 | 18,377 | 12,549 | ||||||||||||
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Total operating expenses |
27,395 | 20,203 | 51,906 | 39,616 | ||||||||||||
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Income from operations |
14,851 | 17,347 | 29,994 | 33,188 | ||||||||||||
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Other income (expense), net |
1,092 | (36 | ) | 1,717 | (493 | ) | ||||||||||
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Income before income taxes |
15,943 | 17,311 | 31,711 | 32,695 | ||||||||||||
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Provision for income taxes |
5,252 | 5,625 | 10,358 | 10,556 | ||||||||||||
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Net income |
$ | 10,691 | $ | 11,686 | $ | 21,353 | $ | 22,139 | ||||||||
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Net income per share: |
||||||||||||||||
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Basic |
$ | 0.41 | $ | 0.45 | $ | 0.81 | $ | 0.86 | ||||||||
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Diluted |
$ | 0.40 | $ | 0.44 | $ | 0.80 | $ | 0.84 | ||||||||
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Shares used to compute net income per share: |
||||||||||||||||
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Basic |
26,368,001 | 25,921,111 | 26,295,074 | 25,885,888 | ||||||||||||
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Diluted |
26,561,148 | 26,277,503 | 26,526,629 | 26,245,135 | ||||||||||||
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Proto Labs, Inc. |
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Condensed Consolidated Statements of Cash Flows |
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(In thousands) |
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(Unaudited) |
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Six Months Ended |
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June 30, |
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2016 |
2015 |
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Operating activities |
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Net income |
$ | 21,353 | $ | 22,139 | ||||
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation and amortization |
8,147 | 6,940 | ||||||
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Stock-based compensation expense |
3,541 | 2,909 | ||||||
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Deferred taxes |
403 | 620 | ||||||
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Excess tax benefit from stock-based compensation |
(1,916 | ) | (989 | ) | ||||
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Amortization of held-to-maturity securities |
590 | 632 | ||||||
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Loss on impairment of assets |
455 | - | ||||||
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Other |
(1,095 | ) | - | |||||
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Changes in operating assets and liabilities |
5,084 | (4,418 | ) | |||||
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Net cash provided by operating activities |
36,562 | 27,833 | ||||||
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Investing activities |
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Purchases of property and equipment |
(22,416 | ) | (15,717 | ) | ||||
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Purchases of marketable securities |
(38,304 | ) | (25,389 | ) | ||||
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Proceeds from sales and maturities of marketable securities |
28,759 | 24,109 | ||||||
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Net cash used in investing activities |
(31,961 | ) | (16,997 | ) | ||||
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Financing activities |
||||||||
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Payments on debt |
- | (77 | ) | |||||
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Acquisition-related contingent consideration |
(400 | ) | (1,000 | ) | ||||
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Proceeds from exercises of stock options and other |
3,729 | 2,207 | ||||||
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Excess tax benefit from stock-based compensation |
1,916 | 989 | ||||||
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Net cash provided by financing activities |
5,245 | 2,119 | ||||||
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Effect of exchange rate changes on cash and cash equivalents |
(168 | ) | 40 | |||||
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Net increase in cash and cash equivalents |
9,678 | 12,995 | ||||||
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Cash and cash equivalents, beginning of period |
47,653 | 43,329 | ||||||
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Cash and cash equivalents, end of period |
$ | 57,331 | $ | 56,324 | ||||
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Proto Labs, Inc. |
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Reconciliation of GAAP to Non-GAAP Condensed Consolidated Statements of Operations |
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(In thousands, except share and per share amounts) |
|
(Unaudited) |
|
Three Months Ended |
Three Months Ended |
|||||||||||||||||||||||
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June 30, 2016 |
June 30, 2015 |
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GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
|||||||||||||||||||
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Revenue |
||||||||||||||||||||||||
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Injection Molding (Protomold) |
$ | 44,762 | $ | - | $ | 44,762 | $ | 39,932 | $ | - | $ | 39,932 | ||||||||||||
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CNC Machining (Firstcut) |
19,854 | - | 19,854 | 18,585 | - | 18,585 | ||||||||||||||||||
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3D Printing (Fineline) |
9,099 | - | 9,099 | 5,452 | - | 5,452 | ||||||||||||||||||
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Other |
1,246 | - | 1,246 | - | - | - | ||||||||||||||||||
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Total revenue |
74,961 | - | 74,961 | 63,969 | - | 63,969 | ||||||||||||||||||
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Cost of revenue |
32,715 | (268 | ) | 32,447 | 26,419 | (131 | ) | 26,288 | ||||||||||||||||
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Gross profit |
42,246 | 268 | 42,514 | 37,550 | 131 | 37,681 | ||||||||||||||||||
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Operating expenses |
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Marketing and sales |
11,453 | (213 | ) | 11,240 | 9,502 | (271 | ) | 9,231 | ||||||||||||||||
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Research and development |
5,816 | (480 | ) | 5,336 | 4,397 | (336 | ) | 4,061 | ||||||||||||||||
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General and administrative |
10,126 | (1,892 | ) | 8,234 | 6,304 | (1,015 | ) | 5,289 | ||||||||||||||||
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Total operating expenses |
27,395 | (2,585 | ) | 24,810 | 20,203 | (1,622 | ) | 18,581 | ||||||||||||||||
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Income from operations |
14,851 | 2,853 | 17,704 | 17,347 | 1,753 | 19,100 | ||||||||||||||||||
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Other income (expense), net |
1,092 | (806 | ) | 286 | (36 | ) | 165 | 129 | ||||||||||||||||
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Income before income taxes |
15,943 | 2,047 | 17,990 | 17,311 | 1,918 | 19,229 | ||||||||||||||||||
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Provision for income taxes |
5,252 | 773 | 6,025 | 5,625 | 574 | 6,199 | ||||||||||||||||||
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Net income |
$ | 10,691 | $ | 1,274 | $ | 11,965 | $ | 11,686 | $ | 1,344 | $ | 13,030 | ||||||||||||
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Net income per share: |
||||||||||||||||||||||||
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Basic |
$ | 0.41 | $ | 0.04 | $ | 0.45 | $ | 0.45 | $ | 0.05 | $ | 0.50 | ||||||||||||
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Diluted |
$ | 0.40 | $ | 0.05 | $ | 0.45 | $ | 0.44 | $ | 0.06 | $ | 0.50 | ||||||||||||
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Shares used to compute net income per share: |
||||||||||||||||||||||||
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Basic |
26,368,001 | 26,368,001 | 26,368,001 | 25,921,111 | 25,921,111 | 25,921,111 | ||||||||||||||||||
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Diluted |
26,561,148 | 26,561,148 | 26,561,148 | 26,277,503 | 26,277,503 | 26,277,503 | ||||||||||||||||||
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Proto Labs, Inc. |
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Reconciliation of GAAP to Non-GAAP Condensed Consolidated Statements of Operations |
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(In thousands, except share and per share amounts) |
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(Unaudited) |
|
Six Months Ended |
Six Months Ended |
|||||||||||||||||||||||
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June 30, 2016 |
June 30, 2015 |
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GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
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Revenue |
||||||||||||||||||||||||
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Injection Molding (Protomold) |
$ | 87,931 | $ | - | $ | 87,931 | $ | 77,550 | $ | - | $ | 77,550 | ||||||||||||
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CNC Machining (Firstcut) |
38,729 | - | 38,729 | 34,955 | - | 34,955 | ||||||||||||||||||
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3D Printing (Fineline) |
18,209 | - | 18,209 | 10,000 | - | 10,000 | ||||||||||||||||||
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Other |
2,660 | - | 2,660 | - | - | - | ||||||||||||||||||
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Total revenue |
147,529 | - | 147,529 | 122,505 | - | 122,505 | ||||||||||||||||||
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Cost of revenue |
65,629 | (398 | ) | 65,231 | 49,701 | (243 | ) | 49,458 | ||||||||||||||||
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Gross profit |
81,900 | 398 | 82,298 | 72,804 | 243 | 73,047 | ||||||||||||||||||
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Operating expenses |
||||||||||||||||||||||||
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Marketing and sales |
22,395 | (491 | ) | 21,904 | 18,356 | (507 | ) | 17,849 | ||||||||||||||||
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Research and development |
11,134 | (774 | ) | 10,360 | 8,711 | (630 | ) | 8,081 | ||||||||||||||||
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General and administrative |
18,377 | (3,108 | ) | 15,269 | 12,549 | (1,902 | ) | 10,647 | ||||||||||||||||
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Total operating expenses |
51,906 | (4,373 | ) | 47,533 | 39,616 | (3,039 | ) | 36,577 | ||||||||||||||||
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Income from operations |
29,994 | 4,771 | 34,765 | 33,188 | 3,282 | 36,470 | ||||||||||||||||||
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Other income (expense), net |
1,717 | (1,130 | ) | 587 | (493 | ) | 618 | 125 | ||||||||||||||||
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Income before income taxes |
31,711 | 3,641 | 35,352 | 32,695 | 3,900 | 36,595 | ||||||||||||||||||
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Provision for income taxes |
10,358 | 1,310 | 11,668 | 10,556 | 1,143 | 11,699 | ||||||||||||||||||
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Net income |
$ | 21,353 | $ | 2,331 | $ | 23,684 | $ | 22,139 | $ | 2,757 | $ | 24,896 | ||||||||||||
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Net income per share: |
||||||||||||||||||||||||
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Basic |
$ | 0.81 | $ | 0.09 | $ | 0.90 | $ | 0.86 | $ | 0.10 | $ | 0.96 | ||||||||||||
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Diluted |
$ | 0.80 | $ | 0.09 | $ | 0.89 | $ | 0.84 | $ | 0.11 | $ | 0.95 | ||||||||||||
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Shares used to compute net income per share: |
||||||||||||||||||||||||
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Basic |
26,295,074 | 26,295,074 | 26,295,074 | 25,885,888 | 25,885,888 | 25,885,888 | ||||||||||||||||||
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Diluted |
26,526,629 | 26,526,629 | 26,526,629 | 26,245,135 | 26,245,135 | 26,245,135 | ||||||||||||||||||
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Proto Labs, Inc. |
|
Reconciliation of GAAP to Non-GAAP Net Income per Share |
|
(In thousands, except share and per share amounts) |
|
(Unaudited) |
|
Three Months Ended |
Six Months Ended |
|||||||||||||||
|
June 30, |
June 30, |
|||||||||||||||
|
2016 |
2015 |
2016 |
2015 |
|||||||||||||
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Non-GAAP net income, adjusted for stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency, impairment on assets and charges related to the exit of facilities |
||||||||||||||||
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GAAP net income |
$ | 10,691 | $ | 11,686 | $ | 21,353 | $ | 22,139 | ||||||||
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Add back: |
||||||||||||||||
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Stock-based compensation expense |
1,809 | 1,567 | 3,541 | 2,909 | ||||||||||||
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Amortization expense |
171 | 186 | 357 | 373 | ||||||||||||
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Impairment on assets |
455 | - | 455 | - | ||||||||||||
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Facilities-related charges |
418 | - | 418 | - | ||||||||||||
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Unrealized (gain) loss on foreign currency |
(806 | ) | 165 | (1,130 | ) | 618 | ||||||||||
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Total adjustments |
2,047 | 1,918 | 3,641 | 3,900 | ||||||||||||
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Income tax benefits on adjustments |
(773 | ) | (574 | ) | (1,310 | ) | (1,143 | ) | ||||||||
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Non-GAAP net income |
$ | 11,965 | $ | 13,030 | $ | 23,684 | $ | 24,896 | ||||||||
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Non-GAAP net income per share: |
||||||||||||||||
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Basic |
$ | 0.45 | $ | 0.50 | $ | 0.90 | $ | 0.96 | ||||||||
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Diluted |
$ | 0.45 | $ | 0.50 | $ | 0.89 | $ | 0.95 | ||||||||
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Shares used to compute non-GAAP net income per share: |
||||||||||||||||
|
Basic |
26,368,001 | 25,921,111 | 26,295,074 | 25,885,888 | ||||||||||||
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Diluted |
26,561,148 | 26,277,503 | 26,526,629 | 26,245,135 | ||||||||||||
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Proto Labs, Inc. |
|
Comparison of GAAP to Non-GAAP Revenue Growth |
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(In thousands) |
|
(Unaudited) |
|
Three Months Ended |
% Change |
Six Months Ended |
% Change |
|||||||||||||||||||||||||||||
|
June 30, |
% |
Constant |
June 30, |
% |
Constant |
|||||||||||||||||||||||||||
|
2016 |
2015 |
Change |
Currencies1 |
2016 |
2015 |
Change |
Currencies1 |
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|
Revenues |
||||||||||||||||||||||||||||||||
|
United States |
$ | 55,323 | $ | 52,270 | 5.8 | % | 5.8 | % | $ | 109,791 | $ | 99,699 | 10.1 | % | 10.1 | % | ||||||||||||||||
|
Europe |
17,277 | 10,083 | 71.3 | % | 73.5 | % | 32,907 | 18,864 | 74.4 | % | 78.2 | % | ||||||||||||||||||||
|
Japan |
2,361 | 1,616 | 46.1 | % | 29.4 | % | 4,831 | 3,942 | 22.6 | % | 13.5 | % | ||||||||||||||||||||
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Total Revenue |
$ | 74,961 | $ | 63,969 | 17.2 | % | 17.1 | % | $ | 147,529 | $ | 122,505 | 20.4 | % | 20.7 | % | ||||||||||||||||
1 Revenue growth for the three- and six-month periods ended June 30, 2016 has been recalculated using 2015 foreign currency exchange rates in effect during comparable periods to provide information useful in evaluating the underlying business trends excluding the impact of changes in foreign currency exchange rates.
|
Three Months Ended |
% Change |
Six Months Ended |
% Change |
|||||||||||||||||||||||||||||
|
June 30, |
% |
Constant |
June 30, |
% |
Constant |
|||||||||||||||||||||||||||
|
2016 |
2015 |
Change2 |
Currencies2 |
2016 |
2015 |
Change2 |
Currencies2 |
|||||||||||||||||||||||||
|
Revenues |
||||||||||||||||||||||||||||||||
|
United States |
$ | 55,323 | $ | 52,270 | 5.8 | % | 5.8 | % | $ | 109,791 | $ | 99,699 | 10.1 | % | 10.1 | % | ||||||||||||||||
|
Europe |
12,503 | 10,083 | 24.0 | % | 26.3 | % | 23,242 | 18,864 | 23.2 | % | 27.1 | % | ||||||||||||||||||||
|
Japan |
2,361 | 1,616 | 46.1 | % | 29.4 | % | 4,831 | 3,942 | 22.6 | % | 13.5 | % | ||||||||||||||||||||
|
Total Revenue |
$ | 70,187 | $ | 63,969 | 9.7 | % | 9.6 | % | $ | 137,864 | $ | 122,505 | 12.5 | % | 12.8 | % | ||||||||||||||||
2 Revenue growth for the three- and six-month periods ended June 30, 2016 has been recalculated to exclude revenue earned from our acquisition of Alphaform, and using 2015 foreign currency exchange rates in effect during comparable periods to provide information useful in evaluating the underlying business trends excluding the impact of changes in foreign currency exchange rates.
|
Proto Labs, Inc. |
|
Revenue by Geography - Based on Shipping Location |
|
(In thousands) |
|
(Unaudited) |
|
Three Months Ended |
Six Months Ended |
|||||||||||||||
|
June 30, |
June 30, |
|||||||||||||||
|
2016 |
2015 |
2016 |
2015 |
|||||||||||||
|
Revenues |
||||||||||||||||
|
Domestic |
||||||||||||||||
|
United States |
$ | 51,852 | $ | 49,298 | $ | 102,419 | $ | 94,143 | ||||||||
|
International |
||||||||||||||||
|
Europe |
17,277 | 10,083 | 32,907 | 18,864 | ||||||||||||
|
Japan |
2,361 | 1,616 | 4,831 | 3,942 | ||||||||||||
|
United States |
3,471 | 2,972 | 7,372 | 5,556 | ||||||||||||
|
Total international |
23,109 | 14,671 | 45,110 | 28,362 | ||||||||||||
|
Total revenue |
$ | 74,961 | $ | 63,969 | $ | 147,529 | $ | 122,505 | ||||||||
|
Proto Labs, Inc. |
|
Product Developer Information |
|
(Unaudited) |
|
Three Months Ended |
Six Months Ended |
|||||||||||||||
|
June 30, |
June 30, |
|||||||||||||||
|
2016 |
2015 |
2016 |
2015 |
|||||||||||||
|
Unique product developers and engineers served |
13,519 | 11,822 | 20,240 | 17,194 | ||||||||||||
|
Note: the data above does not include product developers and engineers who purchased products attributable to our acquisition of Alphaform during the periods presented. |