Adjusted EBITDA was $19.7 million or 14.6% of revenue, and non-GAAP EPS was $0.41, above guidance and up $0.03 year-over-year.
Cash from operations was $10.6 million, with $3.1 million returned to shareholders via share repurchases; cash and investments totaled $123.2 million with zero debt.
CNC machining revenue was a company record, growing 20% year-over-year, with U.S. CNC machining up 30%.
Injection molding revenue declined 4% year-over-year, 3D printing revenue was down 1%, and sheet metal revenue grew 9%.
Non-GAAP gross margin was flat sequentially at 44.8%, but down 90 basis points year-over-year due to higher network revenue mix and tariff impacts.
Non-GAAP operating expenses increased 6% year-over-year, mainly due to variable expenses tied to revenue such as incentive compensation and commissions.
Proto Labs reported record second quarter 2025 revenue of $135.1 million, up 6.5% year-over-year in constant currencies and 7% sequentially, exceeding guidance.
Revenue fulfilled through digital factories grew 4% year-over-year, while revenue through the Proto Labs Network increased 16%.
U.S. revenue grew 12% year-over-year, while Europe revenue declined 15% in constant currencies due to contracting manufacturing activity.