Short answer
Proto Labs Inc (PRLB) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $533M (+6.4% year over year) and net income of $21M.
- Top risk flagged: Regulatory/legal risk: Closure of Eschenlohe injection molding and Putzbrunn 3D printing facilities in Germany per Oct 2024 plan, impacting European operations
FY2025 key financial metrics · XBRL
- Revenue
- $533M
- +6.4% YoY
- Net income
- $21M
- +28.0% YoY
- Operating margin
- 4.7%
- +0.7 pp YoY
- Gross margin
- 44.5%
- −0.1 pp YoY
- EPS (diluted)
- $0.88
- +33.3% YoY
- ROE
- 3.2%
- +0.7 pp YoY
- Operating cash flow
- $75M
- −4.3% YoY
Source: XBRL data from the Proto Labs Inc (PRLB) FY2025 10-K on SEC EDGAR. USD.
Proto Labs Inc FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model not detailed; filing emphasizes governance and proxy statement references
- No new products, services, or segments introduced or highlighted this year
- Strategic positioning and competitive shifts not discussed in this filing section
- Proxy materials filing expected within 120 days covering executive compensation, ownership, and governance
- Filing notable for extensive incorporation by reference, minimal standalone business content
Management Discussion & Analysis
- Operating cash flow $74.5M in 2025 vs $77.8M in 2024 and $73.3M in 2023, driven by net income $21.2M in 2025 up from $16.6M in 2024
- Investing cash outflow $13.4M in 2025 vs $13.6M in 2024, primarily for property and equipment purchases of $14.0M
- Financing cash outflow $40.4M in 2025 vs $58.6M in 2024, mainly due to $43.0M stock repurchases and $3.4M tax-withheld shares
- Ending cash $110.8M in 2025 vs $89.1M in 2024, increase due to strong operational cash generation offset by stock repurchases and capex
- Management expects cash and operations-generated funds sufficient for 12+ months; potential capital needs depend on product growth, technology, litigation, acquisitions
Risk Factors
- Regulatory/legal risk: Closure of Eschenlohe injection molding and Putzbrunn 3D printing facilities in Germany per Oct 2024 plan, impacting European operations
- Geopolitical/macroeconomic threat: Europe revenue decline 3.7% to $100.8M in 2025 due to lower volumes and exit of German operations
- Operational/supply chain risk: Discontinuation of internal 3D printing in Germany relies on network of external manufacturing partners, introducing fulfillment dependency
- Competitive/market disruption risk: 3D Printing revenue decreased 4.1% to $80.3M in 2025 amid growth in CNC Machining +17.6%, signaling shifts in product demand
- Financial/structural risk: CEO transition in 2025 incurred $3.6M personnel-related G&A expense increase, highlighting key-person dependency impact
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