\n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n (Unaudited)<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Assets<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| Current assets<\/td>\n | | \n | \n | <\/tr>\n \n| Cash and cash equivalents<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n41,909\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n127,603\n<\/p>\n<\/td>\n<\/tr>\n | \n| Short-term marketable securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n18,341\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n34,088\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts receivable, net<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n83,470\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n57,877\n<\/p>\n<\/td>\n<\/tr>\n | \n| Inventory<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,111\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,862\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income taxes receivable<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,575\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n540\n<\/p>\n<\/td>\n<\/tr>\n | \n| Prepaid expenses and other current assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,107\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,032\n<\/p>\n<\/td>\n<\/tr>\n | \n | \nTotal current assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n167,513\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n242,002\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Property and equipment, net<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n288,495\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n282,666\n<\/p>\n<\/td>\n<\/tr>\n | \n| Goodwill<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n407,191\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n128,752\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other intangible assets, net<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n41,674\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14,350\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term marketable securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,700\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n59,357\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating lease assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,801\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,855\n<\/p>\n<\/td>\n<\/tr>\n | \n| Finance lease assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,147\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,396\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other long-term assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,769\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,826\n<\/p>\n<\/td>\n<\/tr>\n | \n | \nTotal assets<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n949,290\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n744,204\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Liabilities and shareholders’ equity<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Current liabilities<\/td>\n | | \n | \n | <\/tr>\n \n| Accounts payable<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n26,038\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n18,248\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued compensation<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14,930\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,989\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued liabilities and other<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,072\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,193\n<\/p>\n<\/td>\n<\/tr>\n | \n| Current contingent consideration<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,936\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \n| Current operating lease liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,847\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,272\n<\/p>\n<\/td>\n<\/tr>\n | \n| Current finance lease liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n554\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n552\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income taxes payable<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n40\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \n | \nTotal current liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n62,417\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n50,254\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Long-term contingent consideration<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,693\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term operating lease liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,097\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,586\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term finance lease liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,639\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,919\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term deferred tax liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n36,898\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n33,854\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other long-term liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,569\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,235\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Shareholders’ equity<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n831,977\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n644,356\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total liabilities and shareholders’ equity<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n949,290\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n744,204\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | <\/tr>\n<\/table>\n\n\n| \u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nProto Labs, Inc.<\/b><\/td>\n<\/tr>\n\nCondensed Consolidated Statements of Operations<\/b><\/td>\n<\/tr>\n\n(In thousands, except share and per share amounts)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n June 30,<\/b><\/p>\n<\/td>\n | | \n\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/span><\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/span><\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/span><\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n\n| Revenue<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Injection Molding<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n58,168\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n57,894\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n114,527\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n112,670\n<\/p>\n<\/td>\n<\/tr>\n | \n| CNC Machining<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n41,592\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,760\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n78,295\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n66,645\n<\/p>\n<\/td>\n<\/tr>\n | \n| 3D Printing<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n18,170\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14,236\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n35,405\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n30,184\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sheet Metal<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,717\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,669\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n9,936\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,318\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n401\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,016\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,011\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,866\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total revenue<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n123,048\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n106,575\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n239,174\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n221,683\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Cost of revenue<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n66,423\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n54,119\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n127,219\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n111,127\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross profit<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n56,625\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n52,456\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n111,955\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n110,556\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Operating expenses<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Marketing and sales<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n21,044\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,936\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n40,524\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n35,116\n<\/p>\n<\/td>\n<\/tr>\n | \n| Research and development<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n11,060\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,648\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n23,241\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n17,635\n<\/p>\n<\/td>\n<\/tr>\n | \n| General and administrative<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,417\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12,521\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,825\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,629\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total operating expenses<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n40,521\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n38,105\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n91,590\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n79,380\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income from operations<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,104\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14,351\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,365\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,176\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other income (loss), net<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n137\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n767\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(176\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,821\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income before income taxes<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,241\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,118\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,189\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n32,997\n<\/p>\n<\/td>\n<\/tr>\n | \n| Provision for income taxes<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,326\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,511\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,562\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,406\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n12,915\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n12,607\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n16,627\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n26,591\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net income per share:<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n0.47\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.47\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.60\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1.00\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n0.47\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.47\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.60\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.99\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Shares used to compute net income per share:<\/td>\n | | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,735,732\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,660,498\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,600,684\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,718,652\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,744,870\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,760,866\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,741,464\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,837,938\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n | <\/tr>\n \nProto Labs, Inc.<\/b><\/td>\n<\/tr>\n\nCondensed Consolidated Statements of Cash Flows<\/b><\/td>\n<\/tr>\n\n(In thousands)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating activities<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Net income<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n16,627\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n26,591\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n | | \n | \n | <\/tr>\n \n| Depreciation and amortization<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,127\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n15,855\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation expense<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,561\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,672\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred taxes<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n419\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,651\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of marketable securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n261\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n129\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Realized gain on available-for-sale securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(117\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n125\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(854\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Changes in operating assets and liabilities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(19,511\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(627\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Changes in fair value of contingent consideration<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(7,763\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash provided by operating activities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,729\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n53,417\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Investing activities<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Purchases of property, equipment and other capital assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(23,929\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(33,305\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash used for acquisitions, net of cash acquired<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(127,413\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Purchases of other assets and investments<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,000\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Purchases of marketable securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(15,159\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(57,212\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds from sales of marketable securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n47,694\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds from maturities of marketable securities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n13,725\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n28,225\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash used in investing activities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(105,082\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(65,292\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Financing activities<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Proceeds from exercises of stock options and other<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,838\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,855\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Purchases of shares withheld for tax obligations<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(4,209\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,367\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Repurchases of common stock<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,210\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(14,686\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Principal repayments of finance lease obligations<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(275\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash used in financing activities<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,856\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(15,198\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Effect of exchange rate changes on cash and cash equivalents<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n515\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(149\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net decrease in cash and cash equivalents<\/b><\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(85,694\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(27,222\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash and cash equivalents, beginning of period<\/b><\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n127,603\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n125,225\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash and cash equivalents, end of period<\/b><\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n41,909\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n98,003\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nProto Labs, Inc.<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP to Non-GAAP Net Income per Share<\/b><\/td>\n<\/tr>\n\n(In thousands, except share and per share amounts)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n June 30,<\/b><\/p>\n<\/td>\n | | \n\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP net income, adjusted for stock-based compensation expense,<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| amortization expense, unrealized (gain) loss on foreign currency and<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| transaction costs<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| GAAP net income<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n12,915\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n12,607\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n16,627\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n26,591\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Add back:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Stock-based compensation expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,941\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,639\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,561\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,672\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,490\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n754\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,033\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,508\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Unrealized (gain) loss on foreign currency<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(402\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(139\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n220\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(936\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \nTransaction costs 1<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(7,655\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,140\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \nTotal adjustments 2<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,626\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,254\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,674\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,244\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \nIncome tax benefits on adjustments 3<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(575\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(987\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,576\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,662\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP net income<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n10,714\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n15,874\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n21,725\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n32,173\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Non-GAAP net income per share:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.39\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.60\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.79\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1.20\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.39\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.59\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n0.78\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1.20\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Shares used to compute non-GAAP net income per share:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,735,732\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,660,498\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,600,684\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,718,652\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,744,870\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,760,866\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n27,741,464\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,837,938\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1 <\/sup>Transaction costs include direct costs incurred in our acquisition of Hubs, Inc. and the impact of changes in the fair value of acquisition-related contingent consideration obligations.<\/td>\n<\/tr>\n\n2 <\/sup>Stock-based compensation expense, amortization expense, unrealized (gain) loss on foreign currency and transaction costs were included in the following GAAP consolidated statement of operations categories:<\/td>\n<\/tr>\n\n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n June 30,<\/b><\/p>\n<\/td>\n | | \n\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of revenue<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1,011\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n936\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1,988\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n1,799\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Marketing and sales<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n929\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n750\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,782\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,368\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Research and development<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n744\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n607\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,368\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,128\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| General and administrative<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,908\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,100\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,316\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,885\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total operating expenses<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(2,235\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,457\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,466\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,381\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Other (income) loss, net<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(402\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(139\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n220\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(936\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total adjustments<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1,626\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n4,254\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n8,674\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n7,244\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n3 <\/sup>For the three and six-month periods ended June 30, 2021 and 2020, income tax effects were calculated using the effective tax rate for the relevant jurisdictions. Our non-GAAP tax rates differ from our GAAP tax rates due primarily to the mix of activity incurred in domestic and foreign tax jurisdictions and removing effective tax rate benefits from stock-based compensation activity in the quarter.<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nProto Labs, Inc.<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP to Non-GAAP Operating Margin<\/b><\/td>\n<\/tr>\n\n(In thousands)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n June 30,<\/b><\/p>\n<\/td>\n | | \n\n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | | \n\n 2020<\/b><\/p>\n<\/td>\n | | \n\n 2021<\/b><\/p>\n<\/td>\n | | \n\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Revenue<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n123,048\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n106,575\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n239,174\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n221,683\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income from operations<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,104\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14,351\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20,365\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n31,176\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| GAAP operating margin<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n13.1\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n13.5\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8.5\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14.1\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Add back:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Stock-based compensation expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,941\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,639\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,561\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,672\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,490\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n754\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,033\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,508\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \nTransaction costs 1<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(7,655\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,140\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total adjustments<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,224\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,393\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,454\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,180\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP income from operations<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n14,880\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n18,744\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n28,819\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n39,356\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Non-GAAP operating margin<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12.1\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n17.6\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12.0\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n17.8\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| \n 1 <\/sup>Transaction costs include direct costs incurred in our acquisition of Hubs, Inc. and the impact of changes in the fair value of acquisition-related contingent consideration obligations.\n<\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nProto Labs, Inc.<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP Net Income to EBITDA and Adjusted EBITDA<\/b><\/td>\n<\/tr>\n\n(In thousands)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n June 30,<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n\n| GAAP net income<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n12,915\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n12,607\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n16,627\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n26,591\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,490\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n754\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,033\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n1,508\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,578\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,143\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n17,094\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n14,347\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest income, net<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(65\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(368\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(152\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(928\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Tax expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,326\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n2,511\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,562\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,406\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| EBITDA<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n26,244\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n22,647\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n40,164\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n47,924\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Add back:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Stock-based compensation expense<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,941\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,639\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,561\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,672\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Unrealized (gain) loss on foreign currency<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(402\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(139\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n220\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(936\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \nTransaction costs 1<\/sup><\/td>\n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(7,655\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(5,140\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total adjustments<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,116\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,500\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,641\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5,736\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EBITDA<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n23,128\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n26,147\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n45,805\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n53,660\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1 <\/sup>Transaction costs include direct costs incurred in our acquisition of Hubs, Inc. and the impact of changes in the fair value of acquisition-related contingent consideration obligations.<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\nProto Labs, Inc.<\/b><\/td>\n<\/tr>\n\nComparison of GAAP to Non-GAAP Revenue Growth<\/b><\/td>\n<\/tr>\n\n(In thousands)<\/b><\/td>\n<\/tr>\n\n(Unaudited)<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Three Months Ended
\n
June 30, 2021<\/b><\/p>\n<\/td>\n | | \n\n Three Months Ended
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June 30, 2020<\/b><\/p>\n<\/td>\n | | \n\n %<\/b><\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n\n GAAP<\/b><\/p>\n<\/td>\n | | \n\n Foreign Currency1<\/sup><\/b><\/p>\n<\/td>\n | \n\n Hubs Acquisition2<\/sup><\/b><\/p>\n<\/td>\n | \n\n Non-GAAP<\/b><\/p>\n<\/td>\n | | \n\n GAAP <\/b><\/p>\n<\/td>\n | | \n\n Change3<\/sup><\/b><\/p>\n<\/td>\n | \n\n % Change Organic4<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| Revenues<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| United States<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n95,344\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(4,626\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n90,718\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n86,823\n<\/p>\n<\/td>\n | | \n\n \n9.8\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n4.5\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Europe<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n24,655\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(1,913\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(4,314\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n18,428\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n16,729\n<\/p>\n<\/td>\n | | \n\n \n47.4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n10.2\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Japan<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,049\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n54\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,103\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,023\n<\/p>\n<\/td>\n | | \n\n \n0.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n2.6\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Revenue<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n123,048\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(1,859\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(8,940\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n112,249\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n106,575\n<\/p>\n<\/td>\n | | \n\n \n15.5\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n5.3\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n | \n | \n\n Six Months Ended
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June 30, 2021<\/b><\/p>\n<\/td>\n | | \n\n Six Months Ended
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June 30, 2020<\/b><\/p>\n<\/td>\n | | \n\n %<\/b><\/p>\n<\/td>\n | | \n | <\/tr>\n \n | \n | \n\n GAAP<\/b><\/p>\n<\/td>\n | | \n\n Foreign Currency1<\/sup><\/b><\/p>\n<\/td>\n | \n\n Hubs Acquisition2<\/sup><\/b><\/p>\n<\/td>\n | \n\n Non-GAAP<\/b><\/p>\n<\/td>\n | | \n\n GAAP <\/b><\/p>\n<\/td>\n | | \n\n Change3<\/sup><\/b><\/p>\n<\/td>\n | \n\n % Change Organic4<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| Revenues<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| United States<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n186,397\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(7,783\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n178,614\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n176,899\n<\/p>\n<\/td>\n | | \n\n \n5.4\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n1.0\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n<\/tr>\n | \n| Europe<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n46,104\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(3,473\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(6,920\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n35,711\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n37,516\n<\/p>\n<\/td>\n | | \n\n \n22.9\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n(4.8\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Japan<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,673\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n(31\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n–\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,642\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n7,268\n<\/p>\n<\/td>\n | | \n\n \n(8.2\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n(8.6\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total Revenue<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n239,174\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(3,504\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n(14,703\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n220,967\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n221,683\n<\/p>\n<\/td>\n | | \n\n \n7.9\n<\/p>\n<\/td>\n | \n \n%\n<\/p>\n<\/td>\n | | \n\n \n(0.3\n<\/p>\n<\/td>\n | \n \n)%\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n1<\/sup> Revenue for the three and six-month periods ended June 30, 2021 has been recalculated using 2020 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.<\/td>\n<\/tr>\n\n2 <\/sup>Revenue for the three and six-month periods ended June 30, 2021 has been recalculated to exclude revenue earned from our acquisition of Hubs, Inc. to provide information useful in evaluating the underlying business trends excluding the impact of acquisitions.<\/td>\n<\/tr>\n\n| 3 <\/sup>This column presents the percentage change from GAAP revenue for the three and six-month periods ended June 30, 2020 to GAAP revenue for the three and six-month periods ended June 30, 2021.<\/td>\n<\/tr>\n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |