depth our call. for cover on Thanks, will business, quarter Good performance then the our Jason. the of joining call. financial fourth state and I our in everyone, you thank provide in overall and earnings will commentary morning, later Dan
is the growth strategy. of we XXXX, execution team focused accelerating on our Proto through As begin the our Labs
integrated fewer our digital drive X automation CNC focus shareholders. X for our narrowing that and of comprehensive and our priorities XXXX areas: new am ultimately offer with value factory Molding Injection capabilities powered by growth I succeed Hubs. are in sharper network broad our in and a combines that our speed to our organization the to digital on confident focus the We and largest will services, greater priority of our investments drive allow
Reflecting satisfied not financial are XXXX, with results. on we our
challenges Proto macroeconomic Our performance environment internal impacted Labs. an faced at by uncertain and we was
optimistic I'm priorities designed and to focused ahead, because momentum. our Looking XXXX positive we are and these for already investments address seeing and are issues,
pace. with focus shareholders margin, investments focusing fewer accelerating on In return fewer we current increase our new areas, value more focus will areas rate. year, the drive our on and through which return for strategy on to the also will A XXXX. place a operating accelerated launching have addition in expand an faster our innovation in we're And priority offerings we success an at pipeline, enhanced narrower lastly, financial to a shareholder strategy and highest Proto Labs' priorities potential and at capital financial
main underperformance in Injection two of a areas decline Molding in The margins. and our XXXX were
did our last will positives there we not meet in many build XXXX. expectations, performance our year's business in are Although on that
year-over-year. digits Our CNC double services both Printing Machining XD grew and
grew in currencies. business XX% over Hubs Our constant
the even increased spend that the increased made on customers offer revenue from over digital offer. integrated digital and the offer per of ordered established our Labs integrated also Furthermore, factory number customers very customers We reflecting our We of Hubs Proto strong a to XXXX. of unique the In great the the important and progress that benefits proving network and XXXX, realize last customer. began strategy. platform both out growth comprehensive the value year, faster, from in these is
digital In is factory and has customers. can digital can value any not our customer Because combined deliver that examples value cannot new already a that a get They tools created with the the competing a XX the that development our was requirement molds that deliver customers our of supplier. Single XX company few for to I want medical value was we customer. to share injection single accelerate model components. manufacturing network, of factory available a molding example, were for network multiple in from prominent looking sourcing product looking a illustrate first elsewhere. to procure the
win only being their We for entire those entire the molding of combined complexity outside reduce and large single did injection true to project, enabled manufactured the customer more higher-requirement through Labs create that the factory. comprehensive offering model partners. supply in to X seamless enabled And by capabilities one-stop a a our the we us this X Proto of digital chain this the digital order, sourced internal manufactured XX importantly, molds for our it supplier remaining shop. network molds, Not our
Next, customer parts plating machine network. were a and a alternatives. via production tolerances and We the Labs' leveraged competing high-requirement customer Proto their needed tight ordered Machining and tight help finished global the company manufacture with capabilities cell requirements were CNC fuel deadlines digital in with quick-turn for weeks parts, high on development that Printing XD product technology This deadlines. stringent any CNC project and meet X factory over to saving able parts high-quality fulfilled and process digital
with journey value manufacturing combination for value seeing supply adopting of chain the speed, the unique driving already to customers, and speed and As accelerate capabilities capabilities. Breadth digital more. available these in Labs' from examples are capabilities is expanded prototyping of Customers form Proto the combined Hubs' reliability production helps highlight, our the of network simplification. value tangible the and of
of and offer and new Our drives customers. strategy demand increased as existing the long-term is gaining both integrated share wallet with traction additional
just started. are getting we And
into XXXX. we service, I growth largest our X macroeconomic mentioned, primary Molding, Injection have factors our Looking XXXX, focus areas. as negatively by to and narrowed impacted ahead was investments in
of make several very continue we to competitive. even to Injection We competitive invest place are drive growth XXXX. in still in initiatives more service, our There Molding confident advantage to the it and are in
lead expanding in effect our in our molds, that for half lead faster. in we X-day Injection standard making we're times year, standard an digital this lead investments: first, our of pricing In times prototyping, time through through our parts array capabilities the production, digital orders multiple we're expanded Already offering industry-leading of quality the for network. part network. Hubs we lower cutting through also for high-volume many We're even second, a broader In fulfilled produce launched offerings and offers; Molding.
Molding pricing making on both And optimizing improving for consultative our across prototyping services. And by our to enhanced automated expanding design pricing and service use it manufacturability production, part design our mold and capabilities. we're investments feedback through Injection and the we're quotes in easier
Molding drive We to expect XXXX. actions these Injection growth in
CNC. area and service offer is growing has the factories committed greater our second through year, is to our complete we're via This comprehensive in even well. growth potential Our the second priority and largest digital most digital growth and been network. our for This industry XXXX unlocking
grew year-over-year, the and gaining and strategy digital evidence received XX% fourth capabilities time advanced Yesterday, longer tolerances, designs. offer broad by lead to through traction. network lower improve digital CNC make finishing both and we network can digital factory our In factory to announced capabilities to quarter, again, the designed protolabs.com. have network digital more possible that the on part is the our complex that quotes providing over expanded CNC offered machining now the of leverage times, and lead access Customers provide longer benefit -- at from comprehensive from customers part the now combined fulfilled larger broader capabilities options costs offer
on intense of Luca Growth than and that experience I'm to Growth We've driving moving and And innovation focus change with additions several in and several positive our we development as recently rate Luca Technology I been innovation. years more accelerated pipeline Strategic team also launches number excited have months. Oleg Officer. leadership ahead, as industrial in since And January, XX September. highlight has future. more growth driving innovation, companies. Mazzei by accelerated of strengthened evidenced on focus has in growth a started strategic our the look the share forward. of we the Ryaboy, new growth of capabilities recent Chief Oleg Luca velocity he business you accelerated our for in and as The Officer with offering welcomed Chief our In as we've Officer,
Through resources we our confident and priority drive spending. investments annual in align redirecting also improve shareholder investments margin for earnings. Early investment. process, our this to to must and areas We're driving that reducing areas away committed year, we business. took on priority to narrow several I we focus our lower operating actions areas planning managing our priority to growth adequate of receive aggressively from and areas value, am our by will lower for priority ensure areas shift opportunities identified expansion XXXX and those our in better X growth
repurchase structure. very $XX will long-term to Board at cash than operating authorization. strategy we Proto repurchases, the focus model on and XXXX, in February This On Labs' accelerated industry, in return realized year, capital to value our of the creating our X, a million stock we rate public business outlook more capital and execution an our confidence reflecting through additional an through have our for generates profitable any shareholders shareholders. company nimble our approved
of to evaluate to year. our noncore This business managing sort last long-term the our part services evaluation of our ultimately segments that we closure will to continue led business, or are Lastly, of underperforming as strategy. Japan or
potential return with on Going forward, we investment. will areas focus highest on the
Proto we not filled Labs factors be with for that in X I the our control. and term. we and very that value and of about great past economy on customers guided The Proto rest remain broader were of we long the confident disruption our past, Labs, the but our the future deliver by and shareholders will over optimistic impacted will outside transition years cannot
on and accelerating at innovation very earnings an pipeline, accelerated capital in is focused. driving our returning X rate. plan We're XXXX accelerating Our expansion our areas, committed to priority growth shareholders
results now outlook financial quarter will cover Dan that, the for of first With the XXXX. our and