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PROTOLABS Manufacturing . Accelerated . Protolabs Reports Financial Results for the Second Quarter of 2021 July 29 , 2021 Record Revenue of $ 123.0 million in the Second Quarter of 2021 , an increase of 15 % over the Second Quarter of 2020 MAPLE PLAIN , Minn .-- ( BUSINESS WIRE ) -- Jul . 29 , 2021-- Proto Labs , Inc. ( NYSE : PRLB ) , the world's largest ecommerce manufacturer and supplier of on - demand prototype and production parts , today announced financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights include : • Revenue for the second quarter of 2021 was $ 123.0 million , representing a 15.5 percent increase compared to revenue of $ 106.6 million in the second quarter of 2020 . • Hubs generated $ 8.9 million of revenue in the second quarter , representing growth of 45.6 percent over the second quarter of 2020 . • Net income for the second quarter of 2021 was $ 12.9 million , or $ 0.47 per diluted share . • Non - GAAP net income was $ 10.7 million , or $ 0.39 per diluted share . See " Non - GAAP Financial Measures " below . " During the second quarter of 2021 , we experienced strong demand , and delivered record revenues despite the challenges of labor availability in the US . We are emerging from the pandemic stronger than ever in the custom parts space , " said Rob Bodor , President and Chief Executive Officer . " I want to thank the employees of Protolabs for all that they did in the quarter , and we are confident that the best is yet to come . " Additional Second Quarter 2021 Highlights include : • Protolabs served 23,253 unique product developers during the quarter , representing a 36.5 percent increase over the second quarter of 2020 . • Gross margin in the second quarter of 2021 was 46.0 percent of revenue ; Non - GAAP gross margin was 46.8 percent of revenue . See " Non - GAAP Financial Measures " below . • EBITDA margin was 21.3 percent of revenue in the second quarter of 2021 ; adjusted EBITDA margin was 18.8 percent of revenue in the second quarter of 2021. See " Non - GAAP Financial Measures " below . • Cash and investments balance was $ 89.0 million as of June 30 , 2021 . " The environment is ripe for growth and our digital manufacturing model is leading the way , " added John Way , Chief Financial Officer . " Our profitable business model drives a healthy balance sheet with $ 89 million in cash and investments and no debt , giving us the flexibility to continue to invest in future growth and lead the digital custom parts space . " Non - GAAP Financial Measures The company has included non - GAAP revenue growth that excludes the impact of changes in foreign currency exchange rates and revenue earned from our acquisition of Hubs ( collectively , " non - GAAP revenue growth " ) . Management believes these metrics are useful in evaluating the underlying business trends and ongoing operating performance of the company . The company has included earnings before interest , taxes , depreciation and amortization ( " EBITDA " ) and EBITDA , adjusted for stock - based compensation expense , unrealized ( gain ) loss on foreign currency , and transaction costs ( collectively , " Adjusted EBITDA " ) , in this press release to provide investors with additional information regarding the company's financial results . The company has included non - GAAP operating margin , adjusted for stock - based compensation expense , amortization expense , and transaction costs ( collectively , " non - GAAP operating margin " ) , in this press release to provide investors with additional information regarding the company's financial results . The company has included non - GAAP net income , adjusted for stock - based compensation expense , amortization expense , unrealized ( gain ) loss on foreign currency , and transaction costs ( collectively , " non - GAAP net income " ) , in this press release to provide investors with additional information regarding the company's financial results . The company has provided below reconciliations of GAAP to non - GAAP net income , non - GAAP operating margin , non - GAAP revenue growth and Adjusted EBITDA , the most directly comparable measures calculated and presented in accordance with GAAP . These non - GAAP measures are used by the company's management and board of directors to understand and evaluate