Under this authorization, Protolabs is not required to purchase shares, but may choose to do so in the open market or through private transactions at times and amounts determined by the company based on its evaluation of market conditions and other factors.
Protolabs’ capital allocation strategy remains unchanged. Protolabs prioritizes organic investment to enhance its platform and capacity with a focus on serving customers with world-class lead times. The company also invests in research and development to expand and enhance its envelope of service offerings to meet additional customer needs. Next, Protolabs looks for potential strategic acquisition opportunities that further the company’s growth strategy. Finally, the company provides the return realized by these investments to its shareholders through opportunistic stock repurchases.
Protolabs is the world’s leading provider of digital manufacturing services. The e-commerce-based company offers injection molding, CNC machining, 3D printing, and sheet metal fabrication to product developers, engineers, and supply chain teams across the globe. Protolabs serves customers using in-house production capabilities that bring unprecedented speed in tandem with Hubs, a Protolabs Company, which serves customers through its network of premium manufacturing partners. Together, they help companies bring new ideas to market with the fastest and most comprehensive digital manufacturing service in the world. Visit protolabs.com for more information.