Protolabs, the American provider of digital manufacturing services, has published financial data for Q3 2022. Despite numerous perturbations in international markets and a creeping economic recession, the company generated revenues of USD 121.7 million, which is a slight decrease of -2.9% compared to with the same period last year.
Protolabs operates in the e-commerce industry, offering injection molding, CNC machining, 3D printing and sheet metal fabrication to customers around the world. The company serves customers using its own production capabilities, and with the help of the acquired Dutch company Hubs, also through a network of partner companies.
In the third quarter of 2022, the company’s revenue was more or less flat, although in the case of Hubs, the growth was as much as +38.5% year-on-year, which translated into $12.1 million in revenue. Net income was $4.0 million and non-GAAP net income was $10.9 million. In the third quarter of 2022, Protolabs served 23,816 customers. Gross margin was 44.1% of revenue, compared to 45.2% in the second quarter of 2022. The balance of cash and investments amounted to USD 113.9 million.
Source: www.protolabs.gcs-web.com