Proto Labs, Inc. (NYSE:PRLB) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET

Company Participants

Jason Frankman - Vice President, Corporate Controller

Robert Bodor - President, Chief Executive Officer

Daniel Schumacher - Interim Chief Financial Officer

Conference Call Participants

Brian Drab - William Blair

Danny Eggerichs - Craig Hallum

Jim Ricchiuti - Needham & Co.

Ben Rose - Battle Road Research

Operator

Greetings and welcome to Proto Labs Q1 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Jason Frankman, VP and Corporate Controller. Please go ahead, sir.

Jason Frankman

Thank you, Peter, and welcome everyone to Proto Labs’ first quarter 2022 earnings conference call. I'm joined today by Rob Bodor, Proto Labs’ President and Chief Executive Officer, and Dan Schumacher, Interim Chief Financial Officer.

This morning, Proto Labs issued a press release announcing its financial results for the first quarter ended March 31, 2022. The release is available on the company's website. In addition, a prepared slide presentation is available online at the web address provided in our press release.

Our discussion today will include statements relating to future performance and expectations that are or may be considered forward-looking statements and subject to many risks and uncertainties that could cause actual results to differ materially from expectations. Please refer to our earnings press release and recent SEC filings, including our Annual Report on Form 10-K for information on certain risks that could cause actual outcomes to differ materially and adversely from any forward-looking statements made today. The results and guidance we will discuss include non-GAAP financial measures consistent with our past practice. Please refer to our press release and the accompanying slide presentation at the Investor Relations section of our company website for a complete reconciliation of non-GAAP to GAAP results.

Now I’d like to turn the call over to Rob Bodor. Rob?

Robert Bodor

Thanks, Jason. Good morning, everyone and thank you for joining us today to discuss our company's first quarter financial results and our outlook for the second quarter. I'm happy to report that we've finished the first quarter strong after a slow start in January and our results were slightly ahead of our expectations. As I communicated on our fourth quarter call in February, demand was impacted in January as the Omicron variant delayed our seasonal demand growth by several weeks. Our demand strengthened starting in February and we finished the quarter strong. Our comprehensive digital manufacturing offer continues to draw out our customers, the largest customer base in the industry.