Proto Labs Reports Record Revenue for the Fourth Quarter and Full Year 2015
Quarterly Revenue Up 32% Year over Year to
Full
Year 2015 Revenue Up 26% over 2014 to
Fourth Quarter 2015 Highlights include:
-
Revenue for the fourth quarter of 2015 increased to a record
$73.8 million , 32 percent above revenue of$56.1 million in the fourth quarter of 2014. Excluding the$5.1 million revenue contribution fromAlphaform , the German company acquired in the fourth quarter of 2015, legacy revenue totaled$68.7 million , an increase of 22.5 percent compared with the prior year’s fourth quarter. Excluding the negative impact on revenue from foreign currency exchange rates (“constant currency”), legacy revenue was up 25 percent versus the prior year. -
Revenue from 3D printing totaled
$9.1 million . Excluding theAlphaform 3D printing revenue of$2.5 million , legacy 3D printing revenue was$6.6 million , an increase of 69 percent from the fourth quarter of 2014. - Revenue growth was driven by a 21 percent increase in the number of unique product developers and engineers served to 12,414 from 10,231 in the fourth quarter of 2014.
-
Net income for the fourth quarter of 2015 was
$12.0 million , or$0.45 per diluted share. Non-GAAP net income, excluding the after-tax expense of stock compensation, transaction costs and a bargain purchase gain related to theAlphaform acquisition, amortization of intangibles and unrealized foreign currency gains, was$13.4 million , or$0.50 per diluted share. See “Non-GAAP Financial Measures” below.
“In 2015, Proto Labs’ differentiated, technology-enabled digital
manufacturing model helped more and more product developers rapidly take
their ideas from concept to low volume production, saving R&D expense
and getting their products to market faster. The fourth quarter was a
strong ending to a very good year for
“We acquired
Additional Fourth Quarter Highlights include:
-
Gross margin was 56.0 percent of revenue for the fourth quarter
compared with 59.4 percent for the third quarter of 2015 and 59.9
percent during the fourth quarter last year. The decrease from both
periods was primarily due to the 260 basis point impact of the
Alphaform acquisition. Other drivers included additional investments in capacity and foreign currency exchange rates. - GAAP operating margin was 22.4 percent of revenue during the fourth quarter of 2015 compared to 26.2 percent for the fourth quarter of 2014. On a non-GAAP basis, operating margins were 25.3 percent. See “Non-GAAP Financial Measures” below.
-
Cash generated from operations during the fourth quarter totaled
$17.3 million .
Full Year 2015 Highlights include:
-
Revenue increased 26 percent to
$264.1 million compared with$209.6 million in 2014. Excluding the$5.1 million revenue contribution fromAlphaform , legacy revenue totaled$259.0 million , an increase of 23.6 percent compared to 2014. On a constant currency basis, 2015 legacy revenue grew 27.2 percent and 29.6 percent includingAlphaform . -
Net income for 2015 increased to
$46.5 million , or$1.77 per diluted share compared with$41.6 million , or$1.60 per diluted share in 2014. Non-GAAP net income, excluding the after-tax expense of stock compensation, transaction costs and a bargain purchase gain related to theAlphaform acquisition, amortization of intangibles and unrealized foreign currency gains, was$51.9 million , or$1.97 per diluted share. See “Non-GAAP Financial Measures” below. -
Cash generated from operations during the year totaled
$58.6 million . Cash, cash equivalents and investments were$145.6 million atDecember 31, 2015 compared with$128.4 million atDecember 31, 2014 .
“Our accomplishments in 2015 have positioned us well for continued,
sustainable growth and profitability. In 2016, we will focus on
executing our strategy to reliably and quickly deliver quality custom
parts to an increasing number of product developers. We will complete
the integration of
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
The company has also included non-GAAP net income, adjusted for
stock-based compensation expense, transaction expenses and a bargain
purchase gain related to the acquisition of
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 fourth
quarter and full year 2015 financial results today,
About
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, Inc. | ||||||||
Condensed Consolidated Balance Sheets | ||||||||
(In thousands) | ||||||||
December 31, | December 31, | |||||||
2015 | 2014 | |||||||
(Unaudited) | ||||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 47,653 | $ | 43,329 | ||||
Short-term marketable securities | 33,201 | 30,706 | ||||||
Accounts receivable, net | 36,125 | 24,226 | ||||||
Inventory | 9,771 | 6,194 | ||||||
Income taxes receivable | 6,028 | - | ||||||
Other current assets | 5,224 | 3,889 | ||||||
Total current assets | 138,002 | 108,344 | ||||||
Property and equipment, net | 125,475 | 91,626 | ||||||
Long-term marketable securities | 64,789 | 54,318 | ||||||
Goodwill | 28,916 | 28,916 | ||||||
Other intangible assets, net | 3,337 | 4,083 | ||||||
Other long-term assets | 517 | 227 | ||||||
Total assets | $ | 361,036 | $ | 287,514 | ||||
Liabilities and shareholders' equity | ||||||||
Current liabilities | ||||||||
Accounts payable | $ | 13,643 | $ | 7,882 | ||||
Accrued compensation | 9,993 | 6,067 | ||||||
Accrued liabilities and other | 2,626 | 2,718 | ||||||
Income taxes payable | - | 1,953 | ||||||
Current portion of long-term debt obligations | - | 139 | ||||||
Total current liabilities | 26,262 | 18,759 | ||||||
Long-term deferred tax liabilities | 4,240 | 1,846 | ||||||
Long-term debt obligations | - | 10 | ||||||
Other long-term liabilities | 2,889 | 1,360 | ||||||
Shareholders' equity | 327,645 | 265,539 | ||||||
Total liabilities and shareholders' equity | $ | 361,036 | $ | 287,514 | ||||
Proto Labs, Inc. | ||||||||||||||||
Condensed Consolidated Statements of Operations | ||||||||||||||||
(In thousands, except share and per share amounts) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2015 |
2014 |
2015 |
2014 |
|||||||||||||
Revenue | ||||||||||||||||
Injection Molding (Protomold) | $ | 43,865 | $ | 35,678 | $ | 163,387 | $ | 140,282 | ||||||||
CNC Machining (Firstcut) | 19,581 | 16,507 | 74,368 | 59,914 | ||||||||||||
3D Printing (Fineline) | 9,094 | 3,884 | 25,132 | 9,387 | ||||||||||||
Other | 1,219 | - | 1,219 | - | ||||||||||||
Total revenue | 73,759 | 56,069 | 264,106 | 209,583 | ||||||||||||
Cost of revenue | 32,485 | 22,457 | 109,703 | 81,182 | ||||||||||||
Gross profit | 41,274 | 33,612 | 154,403 | 128,401 | ||||||||||||
Operating expenses | ||||||||||||||||
Marketing and sales | 10,805 | 8,115 | 39,188 | 29,144 | ||||||||||||
Research and development | 4,879 | 4,682 | 18,350 | 16,607 | ||||||||||||
General and administrative | 9,033 | 6,152 | 29,716 | 22,122 | ||||||||||||
Total operating expenses | 24,717 | 18,949 | 87,254 | 67,873 | ||||||||||||
Income from operations | 16,557 | 14,663 | 67,149 | 60,528 | ||||||||||||
Other income, net | 612 | 22 | 712 | 3 | ||||||||||||
Income before income taxes | 17,169 | 14,685 | 67,861 | 60,531 | ||||||||||||
Provision for income taxes | 5,176 | 4,492 | 21,347 | 18,896 | ||||||||||||
Net income | $ | 11,993 | $ | 10,193 | $ | 46,514 | $ | 41,635 | ||||||||
Net income per share: | ||||||||||||||||
Basic | $ | 0.46 | $ | 0.39 | $ | 1.79 | $ | 1.62 | ||||||||
Diluted | $ | 0.45 | $ | 0.39 | $ | 1.77 | $ | 1.60 | ||||||||
Shares used to compute net income per share: | ||||||||||||||||
Basic | 26,164,340 | 25,815,973 | 26,005,858 | 25,692,699 | ||||||||||||
Diluted | 26,465,043 | 26,152,891 | 26,320,284 | 26,100,320 | ||||||||||||
Proto Labs, Inc. | ||||||||||
Condensed Consolidated Statements of Cash Flows | ||||||||||
(In thousands) | ||||||||||
(Unaudited) | ||||||||||
Year Ended | ||||||||||
December 31, | ||||||||||
2015 | 2014 | |||||||||
Operating activities | ||||||||||
Net income | $ | 46,514 | $ | 41,635 | ||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | 14,126 | 11,138 | ||||||||
Stock-based compensation expense | 6,082 | 4,809 | ||||||||
Deferred taxes | 2,837 | (1,875 | ) | |||||||
Excess tax benefit from stock-based compensation | (5,539 | ) | (4,470 | ) | ||||||
Amortization of held-to-maturity securities | 1,234 | 1,517 | ||||||||
Gain on acquisition | (344 | ) | - | |||||||
Changes in operating assets and liabilities | (6,353 | ) | 4,456 | |||||||
Net cash provided by operating activities | 58,557 | 57,210 | ||||||||
Investing activities | ||||||||||
Purchases of property and equipment | (44,362 | ) | (43,507 | ) | ||||||
Acquisitions, net of cash acquired | (5,032 | ) | (33,864 | ) | ||||||
Purchases of marketable securities | (66,393 | ) | (60,186 | ) | ||||||
Proceeds from sales and maturities of marketable securities | 52,193 | 74,058 | ||||||||
Net cash used in investing activities | (63,594 | ) | (63,499 | ) | ||||||
Financing activities | ||||||||||
Payments on debt | (152 | ) | (1,054 | ) | ||||||
Acquisition-related contingent consideration | (1,400 | ) | (1,200 | ) | ||||||
Proceeds from exercises of stock options and other | 6,251 | 4,820 | ||||||||
Excess tax benefit from stock-based compensation | 5,539 | 4,470 | ||||||||
Net cash provided by financing activities | 10,238 | 7,036 | ||||||||
Effect of exchange rate changes on cash and cash equivalents | (877 | ) | (457 | ) | ||||||
Net increase in cash and cash equivalents | 4,324 | 290 | ||||||||
Cash and cash equivalents, beginning of period | 43,329 | 43,039 | ||||||||
Cash and cash equivalents, end of period | $ | 47,653 | $ | 43,329 | ||||||
Proto Labs, Inc. | ||||||||||||||||||||||||||
Reconciliation of GAAP to Non-GAAP Condensed Consolidated Statements of Operations | ||||||||||||||||||||||||||
(In thousands, except share and per share amounts) | ||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||||||||||||
December 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
|||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||
Injection Molding (Protomold) | $ | 43,865 | $ | - | $ | 43,865 | $ | 35,678 | $ | - | $ | 35,678 | ||||||||||||||
CNC Machining (Firstcut) | 19,581 | - | 19,581 | 16,507 | - | 16,507 | ||||||||||||||||||||
3D Printing (Fineline) | 9,094 | - | 9,094 | 3,884 | - | 3,884 | ||||||||||||||||||||
Other | 1,219 | - | 1,219 | - | - | - | ||||||||||||||||||||
Total revenue | 73,759 | - | 73,759 | 56,069 | - | 56,069 | ||||||||||||||||||||
Cost of revenue | 32,485 | (135 | ) | 32,350 | 22,457 | (104 | ) | 22,353 | ||||||||||||||||||
Gross profit | 41,274 | 135 | 41,409 | 33,612 | 104 | 33,716 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||
Marketing and sales | 10,805 | (279 | ) | 10,526 | 8,115 | (242 | ) | 7,873 | ||||||||||||||||||
Research and development | 4,879 | (318 | ) | 4,561 | 4,682 | (278 | ) | 4,404 | ||||||||||||||||||
General and administrative | 9,033 | (1,364 | ) | 7,669 | 6,152 | (810 | ) | 5,342 | ||||||||||||||||||
Total operating expenses | 24,717 | (1,961 | ) | 22,756 | 18,949 | (1,330 | ) | 17,619 | ||||||||||||||||||
Income from operations | 16,557 | 2,096 | 18,653 | 14,663 | 1,434 | 16,097 | ||||||||||||||||||||
Other income (expense), net | 612 | (301 | ) | 311 | 22 | 44 | 66 | |||||||||||||||||||
Income before income taxes | 17,169 | 1,795 | 18,964 | 14,685 | 1,478 | 16,163 | ||||||||||||||||||||
Provision for income taxes | 5,176 | 417 | 5,593 | 4,492 | 474 | 4,966 | ||||||||||||||||||||
Net income | $ | 11,993 | $ | 1,378 | $ | 13,371 | $ | 10,193 | $ | 1,004 | $ | 11,197 | ||||||||||||||
Net income per share: | ||||||||||||||||||||||||||
Basic | $ | 0.46 | $ | 0.05 | $ | 0.51 | $ | 0.39 | $ | 0.04 | $ | 0.43 | ||||||||||||||
Diluted | $ | 0.45 | $ | 0.05 | $ | 0.50 | $ | 0.39 | $ | 0.04 | $ | 0.43 | ||||||||||||||
Shares used to compute net income per share: | ||||||||||||||||||||||||||
Basic | 26,164,340 | 26,164,340 | 26,164,340 | 25,815,973 | 25,815,973 | 25,815,973 | ||||||||||||||||||||
Diluted | 26,465,043 | 26,465,043 | 26,465,043 | 26,152,891 | 26,152,891 | 26,152,891 | ||||||||||||||||||||
Proto Labs, Inc. | ||||||||||||||||||||||||||
Reconciliation of GAAP to Non-GAAP Condensed Consolidated Statements of Operations | ||||||||||||||||||||||||||
(In thousands, except share and per share amounts) | ||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||
Year Ended | Year Ended | |||||||||||||||||||||||||
December 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||
GAAP |
Adjustments |
Non-GAAP |
GAAP |
Adjustments |
Non-GAAP |
|||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||
Injection Molding (Protomold) | $ | 163,387 | $ | - | $ | 163,387 | $ | 140,282 | $ | - | $ | 140,282 | ||||||||||||||
CNC Machining (Firstcut) | 74,368 | - | 74,368 | 59,914 | - | 59,914 | ||||||||||||||||||||
3D Printing (Fineline) | 25,132 | - | 25,132 | 9,387 | - | 9,387 | ||||||||||||||||||||
Other | 1,219 | - | 1,219 | - | - | - | ||||||||||||||||||||
Total revenue | 264,106 | - | 264,106 | 209,583 | - | 209,583 | ||||||||||||||||||||
Cost of revenue | 109,703 | (513 | ) | 109,190 | 81,182 | (386 | ) | 80,796 | ||||||||||||||||||
Gross profit | 154,403 | 513 | 154,916 | 128,401 | 386 | 128,787 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||
Marketing and sales | 39,188 | (1,074 | ) | 38,114 | 29,144 | (927 | ) | 28,217 | ||||||||||||||||||
Research and development | 18,350 | (1,285 | ) | 17,065 | 16,607 | (1,048 | ) | 15,559 | ||||||||||||||||||
General and administrative | 29,716 | (4,871 | ) | 24,845 | 22,122 | (2,944 | ) | 19,178 | ||||||||||||||||||
Total operating expenses | 87,254 | (7,230 | ) | 80,024 | 67,873 | (4,919 | ) | 62,954 | ||||||||||||||||||
Income from operations | 67,149 | 7,743 | 74,892 | 60,528 | 5,305 | 65,833 | ||||||||||||||||||||
Other income (expense), net | 712 | (90 | ) | 622 | 3 | 275 | 278 | |||||||||||||||||||
Income before income taxes | 67,861 | 7,653 | 75,514 | 60,531 | 5,580 | 66,111 | ||||||||||||||||||||
Provision for income taxes | 21,347 | 2,240 | 23,587 | 18,896 | 1,758 | 20,654 | ||||||||||||||||||||
Net income | $ | 46,514 | $ | 5,413 | $ | 51,927 | $ | 41,635 | $ | 3,822 | $ | 45,457 | ||||||||||||||
Net income per share: | ||||||||||||||||||||||||||
Basic | $ | 1.79 | $ | 0.21 | $ | 2.00 | $ | 1.62 | $ | 0.15 | $ | 1.77 | ||||||||||||||
Diluted | $ | 1.77 | $ | 0.21 | $ | 1.97 | $ | 1.60 | $ | 0.15 | $ | 1.74 | ||||||||||||||
Shares used to compute net income per share: | ||||||||||||||||||||||||||
Basic | 26,005,858 | 26,005,858 | 26,005,858 | 25,692,699 | 25,692,699 | 25,692,699 | ||||||||||||||||||||
Diluted | 26,320,284 | 26,320,284 | 26,320,284 | 26,100,320 | 26,100,320 | 26,100,320 | ||||||||||||||||||||
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 | Year Ended | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
2015 |
2014 |
2015 |
2014 |
|||||||||||||||||
Non-GAAP net income, adjusted for stock-based compensation expense, | ||||||||||||||||||||
amortization expense, unrealized loss on foreign currency, | ||||||||||||||||||||
gain on acquisition and acquisition costs: | ||||||||||||||||||||
GAAP net income | $ | 11,993 | $ | 10,193 | $ | 46,514 | $ | 41,635 | ||||||||||||
Add back: | ||||||||||||||||||||
Stock-based compensation expense | 1,567 | 1,248 | 6,082 | 4,809 | ||||||||||||||||
Amortization expense | 186 | 186 | 746 | 496 | ||||||||||||||||
Unrealized loss on foreign currency | 43 | 44 | 254 | 275 | ||||||||||||||||
Acquisition costs | 343 | - | 915 | - | ||||||||||||||||
Gain on acquisition | (344 | ) | - | (344 | ) | - | ||||||||||||||
Total adjustments | 1,795 | 1,478 | 7,653 | 5,580 | ||||||||||||||||
Income tax benefits on adjustments | (417 | ) | (474 | ) | (2,240 | ) | (1,758 | ) | ||||||||||||
Non-GAAP net income | $ | 13,371 | $ | 11,197 | $ | 51,927 | $ | 45,457 | ||||||||||||
Non-GAAP net income per share: | ||||||||||||||||||||
Basic | $ | 0.51 | $ | 0.43 | $ | 2.00 | $ | 1.77 | ||||||||||||
Diluted | $ | 0.50 | $ | 0.43 | $ | 1.97 | $ | 1.74 | ||||||||||||
Shares used to compute non-GAAP net income per share: | ||||||||||||||||||||
Basic | 26,164,340 | 25,815,973 | 26,005,858 | 25,692,699 | ||||||||||||||||
Diluted | 26,465,043 | 26,152,891 | 26,320,284 | 26,100,320 | ||||||||||||||||
Proto Labs, Inc. | ||||||||||||||||||||||||||
Comparison of GAAP to Non-GAAP Revenue Growth | ||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||
Three Months Ended | % Change | Year Ended | % Change | |||||||||||||||||||||||
December 31, | % | Constant | December 31, | % | Constant | |||||||||||||||||||||
2015 |
2014 |
Change | Currencies1 |
2015 |
2014 |
Change | Currencies1 | |||||||||||||||||||
Revenues | ||||||||||||||||||||||||||
United States | $ | 53,911 | $ | 44,336 | 21.6 | % | 21.6 | % | $ | 208,017 | $ | 165,117 | 26.0 | % | 26.0 | % | ||||||||||
Europe | 17,271 | 9,967 | 73.3 | % | 87.9 | % | 47,433 | 37,490 | 26.5 | % | 44.5 | % | ||||||||||||||
Japan | 2,577 | 1,766 | 45.9 | % | 54.1 | % | 8,656 | 6,976 | 24.1 | % | 41.3 | % | ||||||||||||||
Total Revenue | $ | 73,759 | $ | 56,069 | 31.6 | % | 34.0 | % | $ | 264,106 | $ | 209,583 | 26.0 | % | 29.6 | % | ||||||||||
1 Revenue growth for the three months and year ended December 31, 2015 has been recalculated using 2014 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 | Year Ended | % Change | |||||||||||||||||||||||
December 31, | % | Constant | December 31, | % | Constant | |||||||||||||||||||||
2015 |
2014 |
Change2 |
Currencies2 |
2015 |
2014 |
Change2 |
Currencies2 | |||||||||||||||||||
Revenues | ||||||||||||||||||||||||||
United States | $ | 53,911 | $ | 44,336 | 21.6 | % | 21.6 | % | $ | 208,017 | $ | 165,117 | 26.0 | % | 26.0 | % | ||||||||||
Europe | 12,190 | 9,967 | 22.3 | % | 34.7 | % | 42,352 | 37,490 | 13.0 | % | 29.7 | % | ||||||||||||||
Japan | 2,577 | 1,766 | 45.9 | % | 54.1 | % | 8,656 | 6,976 | 24.1 | % | 41.3 | % | ||||||||||||||
Total Revenue | $ | 68,678 | $ | 56,069 | 22.5 | % | 25.0 | % | $ | 259,025 | $ | 209,583 | 23.6 | % | 27.2 | % | ||||||||||
2 Revenue growth for the three months and year ended December 31, 2015 has been recalculated to exclude revenue earned from our acquisition of Alphaform, and using 2014 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 | Year Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2015 |
2014 |
2015 |
2014 |
|||||||||||||
Revenues | ||||||||||||||||
Domestic | ||||||||||||||||
United States | $ | 49,709 | $ | 42,223 | $ | 194,065 | $ | 156,033 | ||||||||
International | ||||||||||||||||
Europe | 17,271 | 9,967 | 47,433 | 37,490 | ||||||||||||
Japan | 2,577 | 1,766 | 8,656 | 6,976 | ||||||||||||
United States | 4,202 | 2,113 | 13,952 | 9,084 | ||||||||||||
Total international | 24,050 | 13,846 | 70,041 | 53,550 | ||||||||||||
Total revenue | $ | 73,759 | $ | 56,069 | $ | 264,106 | $ | 209,583 | ||||||||
Proto Labs, Inc. | ||||||||||||
Product Developer Information | ||||||||||||
(Unaudited) | ||||||||||||
Three Months Ended | Year Ended | |||||||||||
December 31, | December 31, | |||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||
Unique product developers and engineers served | 12,414 | 10,231 | 27,235 | 21,552 | ||||||||
Note: the data above does not include product developers and engineers who purchased products attributable to our acquisition of Alphaform during the periods presented | ||||||||||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20160204005344/en/
Source:
Proto Labs, Inc.
Investor Relations:
John Way,
763-479-7726
john.way@protolabs.com
or
Jenifer
Kirtland, 408-656-9496
jkirtland@evcgroup.com
or
Media
Relations:
Bill Dietrick, 763-479-7664
bill.dietrick@protolabs.com