Protolabs, a global 3D printing service provider, recorded record revenue in its financial results for the third quarter of 2018. The latest financial results include a 25% increase in 3D printing revenue.
Total revenue for the three months ended September 30, 2018 was US $ 115.4 million, an increase of 31% from the same period in 2017 to US $ 88.1 million. Of this revenue, the 3D printing division had sales of $ 13.8 million in the third quarter of 2018, up from $ 11.1 million in the third quarter of 2017.
Europe drives record 3D printing revenue
It is understood that Protolabs' revenue comes from five service areas, of which injection molding and CNC processing continue to generate most of the revenue. In the third quarter of 2018, injection molding revenue was US $ 53.6 million, an increase of 8.4% over the same period in 2017, and exceeded US $ 49.5 million. CNC machining revenue in the third quarter of 2018 was $ 40.8 million, compared to $ 27.2 million in the third quarter of 2017.
The company recently launched a sheet metal service, and the unit's revenue in the third quarter of 2018 was $ 6.5 million. In the third quarter of 2011, revenue of $ 607,000 was listed under "Others".
Protolabs' 3D printing includes SLA in polymers, SLS, Stratasys PolyJet and HP Multi Jet Fusion, and Concept Laser DMLS for metal printing. In the past year, Protolabs has continuously expanded its 3D printing services, added Multi Jet Fusion to Europe, and introduced services such as metal plating for SLA and SLS 3D printed parts.
Regarding 3D printing revenue growth of 25%, in the third quarter of 2018 earnings report, Holt said that Europe will continue to be the company's priority area because "Europe is its fastest growing 3D printing area this quarter. In addition, the United States The metal 3D printing business in the 3D printing market grew faster than the plastic 3D printing business in the previous quarter. "
DMLS 3D printed parts on powder bed
Protolabs' third quarter financial performance follows record levels in the second quarter of 2018. In the third quarter of 2018, Protolabs became a founding member of the GE Additive Manufacturing Partner Network. Also included is Revenue from Rapid Manufacturing Group, LLC (RAPID), which was acquired by Protolabs in November 2017.
Protolabs' other second-quarter 2018 highlights included a gross margin of 54.1%, compared to 56% in the third quarter of 2017. In the third quarter of 2018, the company received $ 25.6 million in cash from operations. As of September 30, 2018, the company's cash and investment balance was $ 153.4 million.
Holt said: "Protolabs will continue to expand. As we continue to develop our software and our production capabilities, CNC and injection molding and our 3D printing will expand. At the same time, large-scale services such as sheet metal will be added."