Proto Labs, Inc. (NYSE:PRLB) Q1 2024 Earnings Conference Call May 3, 2024 8:30 AM ET

Company Participants

Jason Frankman - Vice President & Corporate Controller
Rob Bodor - President & Chief Executive Officer
Dan Schumacher - Chief Financial Officer

Conference Call Participants

Brian Drab - William Blair
Greg Palm - Craig Hallum Capital
James Ricchiuti - Needham & Company

Operator

Greetings. Welcome to Proto Labs First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to Jason Frankman, Vice President and Corporate Controller. Thank you. You may begin.

Jason Frankman

Thank you, Sherry and welcome, everyone, to Proto Labs' first quarter 2024 earnings conference call. I'm joined today by Rob Bodor, President and Chief Executive Officer; and Dan Schumacher, Chief Financial Officer. This morning, Proto Labs issued a press release announcing its financial results for the first quarter ended March 31, 2024. 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 GAAP to non-GAAP results.

Now, I'll turn the call over to Rob Bodor. Rob?

Rob Bodor

Thanks, Jason. Good morning, everyone and thank you for joining our first quarter 2024 earnings call. We demonstrated strong operational and financial execution in the quarter, delivering first quarter revenue at the top end of our guidance range and earnings above expectations. These results were driven by the continued execution of our 2 strategic priorities: Increasing the number of customers using our comprehensive offer and driving higher revenue per customer through larger orders and all services. We delivered strong gross margins, earnings and cash flow.