10-Q Filing

Proto Labs Inc CIK: 1443669 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-008224`
Period End Date	20180331
Filing Date	20180501
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	prlb-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 34 Cash Flow Statement 56

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$757.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$788.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.80M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$57.42M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$53.47M	USD	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 $788 and $757 as of March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$58.46M	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
Accounts receivable, net of allowance for doubtful accounts of $788 and $757 as of March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$51.50M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$11.27M	USD	Point-in-time
Inventory	`InventoryNet`	$9.51M	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`	$6.27M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.11M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.83M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.93M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.83M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	26.93M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$165.00M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	26.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$174.64M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$187.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$166.44M	USD	Point-in-time
Goodwill	`Goodwill`	$128.75M	USD	Point-in-time
Goodwill	`Goodwill`	$128.50M	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$19.32M	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$19.08M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$30.67M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$37.03M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.67M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.67M	USD	Point-in-time
Total assets	`Assets`	$543.91M	USD	Point-in-time
Total assets	`Assets`	$518.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.36M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$9.74M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$12.10M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$10.81M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$8.41M	USD	Point-in-time
Short-term debt obligations	`ShortTermBorrowings`	-	USD	Point-in-time
Short-term debt obligations	`ShortTermBorrowings`	$5.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.37M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.76M	USD	Point-in-time
Long-term income taxes payable	`AccruedIncomeTaxesNoncurrent`	$2.18M	USD	Point-in-time
Long-term income taxes payable	`AccruedIncomeTaxesNoncurrent`	$2.18M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$7.58M	USD	Point-in-time
Long-term deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$6.97M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.61M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$56.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.52M	USD	Point-in-time
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of March 31, 2018 and December 31, 2017	`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 March 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,931,546 and 26,828,651 shares as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,931,546 and 26,828,651 shares as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$241.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$246.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$224.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$244.21M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.84M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$487.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$461.21M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$518.74M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$543.91M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$80.17M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$107.75M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$49.84M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$34.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$45.27M	USD	1 Quarter
Gross profit	`GrossProfit`	$57.91M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$12.99M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$16.57M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.82M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.67M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.94M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.78M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$36.18M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$27.59M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$21.73M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$17.68M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$315.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$178.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.91M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.05M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.46	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.88M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.47M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.60M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.20M	shares	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.38M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$20.44M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.26M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.25M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.31M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.72M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$394.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$612.00K	USD	1 Quarter
Amortization of held-to-maturity securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-163.00K	USD	1 Quarter
Amortization of held-to-maturity securities	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-301.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-106.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$56.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.78M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.01M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-435.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-807.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$688.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.71M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.39M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.05M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.29M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$319.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-353.00K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.12M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.79M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.51M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.81M	USD	1 Quarter
Cash used for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash used for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$90.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$16.52M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$3.39M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$10.76M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$13.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.44M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.58M	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payments on debt	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Proceeds from exercises of stock options and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.25M	USD	1 Quarter
Proceeds from exercises of stock options and other	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$194.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.66M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.47M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.75M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$432.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$346.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.09M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.39M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.71M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$71.89M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.09M	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`	$36.71M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$71.89M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.09M	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.