Q1 2024 Earnings Summary
Reported on May 3, 2024 (Before Market Open)
Pre-Earnings Price$31.14Last close (May 2, 2024)
Post-Earnings Price$31.98Open (May 3, 2024)
Price Change
$0.84(+2.70%)
- Softening in large orders, particularly in the U.S., with orders weakening in April, indicating potential revenue decline.
- Less than 5% of customers are currently using full services, indicating challenges in cross-selling and expanding customer engagement.
- Expected increase in operating expenses in Q2, and uncertainty about sustaining high gross margins due to lower volumes and macroeconomic factors, potentially impacting profitability.
Research analysts covering Proto Labs.