10-Q Filing

Proto Labs Inc CIK: 1443669 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-314702`
Period End Date	20120630
Filing Date	20120725
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	prlb-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 76 Cash Flow Statement 54

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$134.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$97.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.39M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$250.00K	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$14.27M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $134 and $97 as of June 30, 2012 and December 31, 2011, respectively	`AccountsReceivableNetCurrent`	$13.72M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $134 and $97 as of June 30, 2012 and December 31, 2011, respectively	`AccountsReceivableNetCurrent`	$11.53M	USD	Point-in-time
Inventory	`InventoryNet`	$3.99M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$3.80M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.43M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$932.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$932.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$28.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$80.82M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$34.25M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.08M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$20.07M	USD	Point-in-time
Total assets	`Assets`	$144.97M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.94M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.71M	shares	Point-in-time
Total assets	`Assets`	$62.33M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.71M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.94M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.43M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$3.72M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$4.77M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$725.00K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$318.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$33.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$690.00K	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$378.00K	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$390.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.94M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$4.25M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$4.25M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$432.00K	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$613.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$815.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$871.00K	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 and 0 shares; issued and outstanding 0 shares as of June 30, 2012 and December 31, 2011, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 and 0 shares; issued and outstanding 0 shares as of June 30, 2012 and December 31, 2011, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 23,935,578 and 9,706,270 shares as of June 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$24.00K	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 23,935,578 and 9,706,270 shares as of June 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$134.01M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$8.23M	USD	Point-in-time
Accumulated equity (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.53M	USD	Point-in-time
Accumulated equity (deficit)	`RetainedEarningsAccumulatedDeficit`	$-27.74M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-738.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-595.00K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$129.91M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-20.24M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, redeemable common stock and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$62.33M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, redeemable common stock and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$144.97M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$46.39M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$59.92M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$29.95M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$24.05M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$17.95M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$12.24M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$9.52M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$24.48M	USD	2 Qtrs
Gross profit	`GrossProfit`	$28.44M	USD	2 Qtrs
Gross profit	`GrossProfit`	$35.44M	USD	2 Qtrs
Gross profit	`GrossProfit`	$14.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.71M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$4.56M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$7.14M	USD	2 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$3.92M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$9.00M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$4.06M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.22M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.33M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.40M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.28M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.26M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$20.34M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$14.73M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$7.90M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.25M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$15.10M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.71M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$6.63M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$173.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.00K	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-404.00K	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$78.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.71M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.70M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.71M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.64M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.45M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.49M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.18M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.77M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$9.93M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.25M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.53M	USD	1 Quarter
Less: dividends on redeemable preferred stock	`TemporaryEquityDividendsAdjustment`	$2.07M	USD	2 Qtrs
Less: dividends on redeemable preferred stock	`TemporaryEquityDividendsAdjustment`	$1.04M	USD	1 Quarter
Less: undistributed earnings allocated to preferred shareholders	`UndistributedEarningsAllocatedToPreferredShareholders`	$-2.42M	USD	2 Qtrs
Less: undistributed earnings allocated to preferred shareholders	`UndistributedEarningsAllocatedToPreferredShareholders`	$-1.16M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.76M	USD	2 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.15M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.93M	USD	2 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.33M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.40	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.44	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.37	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.42	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.43M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.01M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23.93M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.01M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.36M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.74M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.28M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.97M	shares	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.07M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.42M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.28M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.83M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.93M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.25M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.53M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.77M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.88M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$989.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$800.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$411.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.62M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$200.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.27M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.08M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$375.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$189.00K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-27.00K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-236.00K	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$660.00K	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-6.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$593.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-363.00K	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOther`	$-705.00K	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInAccruedLiabilitiesAndOther`	$1.52M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.44M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.48M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.66M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.35M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$34.34M	USD	2 Qtrs
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$500.00K	USD	2 Qtrs
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$250.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.85M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.76M	USD	2 Qtrs
Proceeds from initial public offering, net of offering costs	`ProceedsFromIssuanceInitialPublicOffering`	$79.10M	USD	Point-in-time
Proceeds from initial public offering, net of offering costs	`ProceedsFromIssuanceInitialPublicOffering`	$71.53M	USD	2 Qtrs
Proceeds from issuance of debt	`ProceedsFromIssuanceOfLongTermDebt`	$637.00K	USD	2 Qtrs
Payments on debt	`RepaymentsOfLongTermDebt`	$3.88M	USD	2 Qtrs
Payments on debt	`RepaymentsOfLongTermDebt`	$191.00K	USD	2 Qtrs
Proceeds from exercises of warrants and stock options	`ProceedsFromExerciseOfWarrantsAndStockOptions`	$547.00K	USD	2 Qtrs
Proceeds from exercises of warrants and stock options	`ProceedsFromExerciseOfWarrantsAndStockOptions`	$37.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.70M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$71.38M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$153.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$14.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$36.25M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.90M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.39M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.13M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.39M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.