10-Q Filing

Proto Labs Inc CIK: 1443669 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-013457`
Period End Date	20170630
Filing Date	20170801
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	prlb-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 68 Cash Flow Statement 62

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$522.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$442.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.80M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$48.27M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$39.48M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $522 and $442 as of June 30, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$42.21M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $522 and $442 as of June 30, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$34.06M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$9.31M	USD	Point-in-time
Inventory	`InventoryNet`	$9.33M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.70M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.92M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$445.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.59M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$204.92M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$157.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$146.36M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	26.59M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	26.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$139.47M	USD	Point-in-time
Goodwill	`Goodwill`	$28.92M	USD	Point-in-time
Goodwill	`Goodwill`	$28.92M	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$2.65M	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$2.37M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$84.48M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$69.44M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.65M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$933.00K	USD	Point-in-time
Total assets	`Assets`	$454.65M	USD	Point-in-time
Total assets	`Assets`	$414.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.32M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.99M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$7.67M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$4.53M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$4.43M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.05M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$8.61M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$7.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.19M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$43.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.41M	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of June 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of June 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,586,152 and 26,504,868 shares as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$26.00K	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,586,152 and 26,504,868 shares as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$220.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$213.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$176.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$197.21M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.75M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.40M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$410.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$379.83M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$454.65M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$414.24M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$74.96M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$162.21M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$82.04M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$147.53M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$70.56M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$32.72M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$65.63M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$35.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$91.64M	USD	2 Qtrs
Gross profit	`GrossProfit`	$81.90M	USD	2 Qtrs
Gross profit	`GrossProfit`	$42.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$46.37M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$14.63M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$11.45M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$27.62M	USD	2 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$22.39M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$5.82M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.13M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$6.08M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.91M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$18.03M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$18.38M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.13M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$27.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$51.91M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$57.56M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$34.08M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$14.85M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$16.40M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$29.99M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.49M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.17M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.72M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.09M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.71M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$35.57M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.94M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.57M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.36M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.29M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.49M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.25M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.09M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.29M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.91	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.41	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.91	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.80	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Basic - weighted-average shares outstanding: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.55M	shares	2 Qtrs
Basic - weighted-average shares outstanding: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.37M	shares	1 Quarter
Basic - weighted-average shares outstanding: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.30M	shares	2 Qtrs
Basic - weighted-average shares outstanding: (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.54M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.53M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.71M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.56M	shares	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$27.64M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.95M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.25M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.55M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.09M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.29M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.15M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.70M	USD	2 Qtrs
Share-based Compensation	`ShareBasedCompensation`	$3.54M	USD	2 Qtrs
Share-based Compensation	`ShareBasedCompensation`	$3.96M	USD	2 Qtrs
Share-based Compensation	`ShareBasedCompensation`	$1.80M	USD	1 Quarter
Share-based Compensation	`ShareBasedCompensation`	$2.20M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.61M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$403.00K	USD	2 Qtrs
Loss on impairment of assets	`AssetImpairmentCharges`	$455.00K	USD	2 Qtrs
Loss on impairment of assets	`AssetImpairmentCharges`	-	USD	2 Qtrs
Amortization of held-to-maturity securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-590.00K	USD	2 Qtrs
Amortization of held-to-maturity securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-592.00K	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$-77.00K	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$1.09M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.91M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.20M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-175.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$187.00K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.15M	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$775.00K	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.77M	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.98M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.37M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.53M	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$600.00K	USD	2 Qtrs
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.42M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$38.48M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$39.43M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.42M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.30M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$38.30M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$20.04M	USD	2 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$28.76M	USD	2 Qtrs
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$25.19M	USD	2 Qtrs
Purchases of other investments	`PaymentsToAcquireOtherInvestments`	$514.00K	USD	2 Qtrs
Purchases of other investments	`PaymentsToAcquireOtherInvestments`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-31.96M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-8.66M	USD	2 Qtrs
Acquisition-related contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	-	USD	2 Qtrs
Acquisition-related contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	$400.00K	USD	2 Qtrs
Proceeds from exercises of stock options and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.79M	USD	2 Qtrs
Proceeds from exercises of stock options and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$3.73M	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.41M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.33M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-619.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-168.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$251.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.68M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$30.40M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$99.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.65M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.33M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$99.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.65M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.80M	USD	Point-in-time

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