Proto Labs Blasts Off to a Strong Start in 2026: Record Revenue and Double-Digit Growth Fuel Company's Momentum
Proto Labs, a leading provider of rapid prototyping and low-volume production services, has reported a stellar first quarter in 2026. The company's revenue grew by 10% year-over-year, marking another record revenue quarter.
In a conference call on May 1st, Suresh Krishna, President and Chief Executive Officer, highlighted the balanced execution reflected in the financial results. "We achieved double-digit revenue growth, significant gross margin expansion, and improved operating leverage," he said. This reflects not only continued momentum but also measurable improvements in customer engagement, growth, and operating performance.
The company's strong performance was fueled by exceptional demand for its CNC machining service, which grew over 20% year-over-year in the U.S. This growth was driven by continued strength in aerospace and defense, including space exploration, satellites, and drones, as well as strong growth in robotics.
Proto Labs' ability to serve customers across the product life cycle while building on its core strengths has been a key factor in its success. The company's strategy is anchored in four pillars: elevating the customer experience, accelerating innovation, expanding production, and driving operational efficiency.
"We continue to see strong traction with larger strategic customers contributing to our higher revenue per customer and reinforcing this as a key long-term growth driver," Krishna said. Revenue per customer grew 20% year-over-year, providing evidence of the momentum Proto Labs has with enterprise customers.
The company's results were also boosted by its performance in the U.S., where it grew by 12%, marking the fourth quarter in a row of double-digit revenue growth in the region. This achievement was attributed to the leadership of Sean Farrell and the regional sales and customer success teams.
Proto Labs' strong cash flows and earnings have been driven by its business model, which has enabled the company to deliver exceptional results despite market uncertainty. The company's non-GAAP earnings per share reached its highest level in over five years during the first quarter.
The conference call also highlighted Proto Labs' growing presence in the aerospace industry. The company joined the Space Foundation, a global space community supporting collaboration and education, in April. This move strengthens its position as a strategic partner to leading-edge programs where speed, precision, and reliability are critical.
