• Amazon for custom manufacturing parts
• Vistaprint for custom fabricated parts
• Grainger for custom manufacturing

• Injection Molding: Provides rapid production of custom plastic and liquid silicone rubber parts using industrial injection molding processes.
• CNC Machining: Offers fast-turnaround machining of custom metal and plastic parts using computer numerical control technology.
• 3D Printing (Additive Manufacturing): Delivers industrial-grade 3D printed custom parts using various additive manufacturing processes and materials.
• Sheet Metal Fabrication: Produces custom sheet metal parts quickly for both prototyping and low-volume production.

Proto Labs (PRLB) primarily sells to other companies, specifically engineers, product designers, and businesses that require rapid prototyping and on-demand production of custom parts.

Due to the nature of its business model, which involves serving a highly diversified customer base across numerous industries, Proto Labs does not publicly disclose specific "major customers" that represent a significant portion of its revenue. Their strength lies in serving tens of thousands of customers globally rather than relying on a few large accounts. Public filings (such as their 10-K reports) do not identify any single customer accounting for 10% or more of their net revenue.

Therefore, it is not possible to list specific customer companies. Instead, their customer base is broadly distributed across a wide range of industries, including but not limited to:

• Aerospace and Defense
• Medical and Healthcare Devices
• Automotive
• Consumer Electronics and Products
• Industrial Equipment
• Robotics
• Energy

Their customers range from small startups and individual product developers to large multinational corporations that leverage Proto Labs' services for research and development, custom part production, and low-volume manufacturing.

Suresh Krishna, President and Chief Executive Officer

Suresh Krishna became the President and Chief Executive Officer of Proto Labs in May 2025. Prior to joining Proto Labs, he served as the President and Chief Executive Officer of Northern Tool + Equipment from April 2020 to November 2024. His career also includes operations and leadership roles at Sleep Number Corporation, Polaris Industries, and UTC Fire & Security.

Daniel Schumacher, Chief Financial Officer

Daniel Schumacher has served as the Chief Financial Officer of Proto Labs since June 2022. He joined Proto Labs in 2017, having previously served as Interim Chief Financial Officer from 2021 to 2022 and as Vice President of Investor Relations and Global Financial Planning and Analysis. Before his tenure at Proto Labs, Mr. Schumacher held financial leadership roles as a Finance Director at Stratasys from 2015 to 2017, and in various capacities at Rockwell Automation from 2006 to 2015.

Mike Kenison, Chief Operations Officer

Mike Kenison is the Chief Operations Officer at Proto Labs. He previously held the roles of VP & General Manager of the Americas and VP of Manufacturing, a position he held since 2013. Before joining Proto Labs, Mr. Kenison served in leadership roles within the industry, including VP of Manufacturing at Cardiac Science, Inc.

Marc Kermisch, Chief Technology and AI Officer

Marc Kermisch was appointed Chief Technology and AI Officer at Proto Labs, effective October 13, 2025. He is responsible for the company's global technology organization, leading strategic initiatives and AI solution strategy. Mr. Kermisch brings over 25 years of senior executive experience in technology and R&D across manufacturing, software, and retail industries. Prior to Proto Labs, he was Chief Technology Officer at Emergent Software and held executive leadership positions at Case New Holland (CNH), Optum Rx, Bluestem Brands, and Red Wing Shoe Company.

One clear emerging threat to Proto Labs is the rise of digital manufacturing marketplaces, most notably Xometry (symbol: XMTR). Xometry utilizes a network of manufacturing partners rather than relying primarily on its own in-house facilities, a model that often allows for greater capacity, potentially lower pricing due to supplier competition, and a broader range of specialized services. This marketplace approach directly challenges Proto Labs' integrated, automated factory model by offering an alternative that can compete on price, speed, and service breadth, similar to how Uber's network of drivers threatened traditional taxicab businesses with their fixed assets and localized operations.

Proto Labs (PRLB) operates in several digital manufacturing markets, with addressable market sizes identified globally for some of its main services:

• 3D Printing: The global 3D printing market size was estimated at $24.8 billion in 2024 and is projected to reach $57.1 billion by the end of 2028. This market is growing at a Compound Annual Growth Rate (CAGR) of 21%. Another estimate places the 2024 market size at $28.1 billion, also reaching $57.1 billion by the end of 2028.
• Injection Molding: The global injection molding market size was estimated at USD 298,717.5 million in 2024 and is projected to reach USD 462,437.7 million by 2033, growing at a CAGR of 5.0% from 2025 to 2033.
• CNC Machining: null
• Sheet Metal Fabrication: null

Proto Labs (PRLB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

1. Expansion into Full-Service Production: Proto Labs expanded its capabilities in January 2025 to offer full-service production, moving beyond rapid prototyping to encompass large-scale manufacturing and end-of-life product support. This strategic shift includes improved pricing for larger orders, enhanced quality control, and industry-specific certifications, allowing the company to serve customers across the entire product lifecycle. This expansion aims to capture a broader market by offering high-volume manufacturing options, advanced molding, and specialized 3D printing for sectors like medical devices and aerospace.
2. Growth of the Protolabs Network: The Protolabs Network, rebranded from Hubs in January 2024, leverages a global network of over 250 vetted manufacturing partners. This network significantly expands Proto Labs' capabilities, providing customers with options for tighter tolerances, enhanced finishing, and higher volumes at competitive costs. The revenue generated through this network has shown substantial growth, including an 18.6% increase to $29.3 million and a 16.2% rise in constant currencies in Q3 2025, indicating its increasing contribution to overall revenue.
3. Advancements in CNC Machining Capabilities: Proto Labs introduced advanced CNC machining capabilities in October 2025, aligning with growing customer demand for precision and speed. This enhancement strengthens Proto Labs' position in high-growth sectors such as aerospace, industrial machinery, defense, robotics, and semiconductors. The company has observed robust demand for its U.S. CNC machining services, with CNC Machining revenue growing 18.2% year-over-year (17% in constant currencies) in Q3 2025.
4. Customer Acquisition and Increased Revenue per Customer: Proto Labs is focused on deepening partnerships with customers and becoming a single manufacturing resource, aiming to increase both the number of customers and the revenue generated from each. The company reported a significant 45% year-over-year growth in customers utilizing both its factory and network offerings, coupled with an 11% increase in revenue per customer. For the full year 2024, revenue per customer contact increased by 3.1% to $9,716.
5. AI and Automation Initiatives: Proto Labs is investing in artificial intelligence and automation to enhance operational efficiency and improve profitability. AI-powered pricing and sourcing algorithms have already contributed to gross margin expansion within the Protolabs Network. The appointment of a Chief Technology and AI Officer in October 2025 underscores the company's commitment to integrating these technologies into its operations. While primarily focused on cost reduction and margin improvement, these initiatives are expected to indirectly drive revenue by enabling more competitive pricing, faster lead times, and higher quality output, thereby attracting and retaining a larger customer base.

Share Repurchases

• On February 7, 2025, Protolabs announced a new $100 million stock repurchase program.
• During the third quarter of 2024, Proto Labs repurchased $19 million of common shares.
• In 2023, the company repurchased $44.0 million in common shares.

Share Issuance

• As part of the acquisition of 3D Hubs, completed on January 25, 2021, $150 million of the total consideration was funded with Protolabs common stock.

Outbound Investments

• On January 25, 2021, Protolabs acquired 3D Hubs for an aggregate closing consideration of $280 million.
• The acquisition consideration included $130 million in cash and $150 million in Protolabs stock.
• An additional contingent consideration of up to $50 million was payable based on the achievement of financial performance targets in 2021 and 2022.

Capital Expenditures

• Protolabs' capital allocation strategy prioritizes organic investment to enhance its platform and capacity, focusing on serving customers with world-class lead times.
• The company also invests in research and development to expand and enhance its service offerings.
• In 2024, the company's transformation efforts included a focus on expanding production capabilities and optimizing manufacturing.