Proto Labs (PRLB) 10-Q 3 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 28, 2015
Entity Registrant Name	Proto Labs Inc
Entity Central Index Key	1,443,669
Trading Symbol	prlb
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		26,163,402
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 64,131,000	$ 43,329,000
Short-term marketable securities	28,062,000	30,706,000
Accounts receivable, net of allowance for doubtful accounts of $222 and $198 as of September 30, 2015 and December 31, 2014, respectively	32,897,000	24,226,000
Inventory	7,228,000	6,194,000
Prepaid expenses and other current assets	5,733,000	$ 3,406,000
Income taxes receivable	4,029,000
Deferred tax assets	460,000	$ 483,000
Total current assets	142,540,000	108,344,000
Property and equipment, net	108,626,000	91,626,000
Goodwill	28,916,000	28,916,000
Other intangible assets, net	3,523,000	4,083,000
Long-term marketable securities	57,801,000	54,318,000
Other long-term assets	520,000	227,000
Total assets	341,926,000	287,514,000
Current liabilities
Accounts payable	11,552,000	7,882,000
Accrued compensation	10,519,000	6,067,000
Accrued liabilities and other	$ 2,424,000	2,718,000
Income taxes payable		1,953,000
Current portion of long-term debt obligations	$ 39,000	139,000
Total current liabilities	24,534,000	18,759,000
Long-term deferred tax liabilities	$ 1,488,000	1,846,000
Long-term debt obligations		10,000
Other long-term liabilities	$ 1,716,000	1,360,000
Total liabilities	$ 27,738,000	$ 21,975,000
Shareholders' equity
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of each of September 30, 2015 and December 31, 2014
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,159,735 and 25,838,110 shares as of September 30, 2015 and December 31, 2014, respectively	$ 26,000	$ 26,000
Additional paid-in capital	195,856,000	180,960,000
Retained earnings	122,002,000	87,482,000
Accumulated other comprehensive loss	(3,696,000)	(2,929,000)
Total shareholders' equity	314,188,000	265,539,000
Total liabilities and shareholders' equity	$ 341,926,000	$ 287,514,000

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 222	$ 198
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	26,159,735	25,838,110
Common stock, shares outstanding (in shares)	26,159,735	25,838,110

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statements of Operations:
Revenue	$ 67,842	$ 54,574	$ 190,347	$ 153,514
Cost of revenue	27,517	21,492	77,218	58,725
Gross profit	40,325	33,082	113,129	94,789
Operating expenses
Marketing and sales	10,027	7,351	28,383	21,029
Research and development	4,760	4,555	13,471	11,925
General and administrative	8,134	5,733	20,683	15,970
Total operating expenses	22,921	17,639	62,537	48,924
Income from operations	17,404	15,443	50,592	45,865
Other income (expense), net	593	(56)	100	(19)
Income before income taxes	17,997	15,387	50,692	45,846
Provision for income taxes	5,615	5,003	16,171	14,404
Net income	$ 12,382	$ 10,384	$ 34,521	$ 31,442
Net income per share:
Basic (in dollars per share)	$ 0.47	$ 0.40	$ 1.33	$ 1.23
Diluted (in dollars per share)	$ 0.47	$ 0.40	$ 1.31	$ 1.20
Shares used to compute net income per share:
Basic - weighted-average shares outstanding: (in shares)	26,083,405	25,757,593	25,952,451	25,651,156
Diluted (in shares)	26,381,313	26,200,741	26,290,758	26,109,539
Comprehensive Income (net of tax)
Comprehensive income	$ 11,416	$ 9,011	$ 33,754	$ 30,773

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net income	$ 34,521	$ 31,442
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10,422	7,696
Stock-based compensation expense	4,515	3,561
Deferred taxes	(310)	487
Excess tax benefit from stock-based compensation	(5,212)	(4,383)
Amortization of held-to-maturity securities	936	1,194
Changes in operating assets and liabilities:
Accounts receivable	(8,827)	(6,302)
Inventories	(1,117)	(339)
Prepaid expenses and other	(2,596)	(706)
Income taxes	(546)	4,032
Accounts payable	3,744	1,414
Accrued liabilities and other	5,754	1,908
Net cash provided by operating activities	41,284	40,004
Investing activities
Purchases of property and equipment	$ (27,259)	(35,928)
Acquisitions, net of cash acquired		(33,864)
Purchases of marketable securities	$ (42,674)	(47,338)
Proceeds from sales and maturities of marketable securities	40,899	61,896
Net cash used in investing activities	(29,034)	(55,234)
Financing activities
Payments on debt	(107)	(1,005)
Acquisition-related contingent consideration	(1,400)	(800)
Proceeds from exercises of stock options and other	5,165	3,962
Excess tax benefit from stock-based compensation	5,212	4,383
Net cash provided by financing activities	8,870	6,540
Effect of exchange rate changes on cash and cash equivalents	(318)	(81)
Net increase (decrease) in cash and cash equivalents	20,802	(8,771)
Cash and cash equivalents, beginning of period	43,329	43,039
Cash and cash equivalents, end of period	$ 64,131	$ 34,268

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 – Basis of Presentation The unaudited interim Consolidated Financial Statements of Proto Labs, Inc. (Proto Labs, the Company, we, us or our) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. These statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair presentation of the Company’s statement of financial position, results of operations and cash flows for the periods presented. Except as otherwise disclosed herein, these adjustments consist of normal, recurring items. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. On April 23, 2014, the Company completed the acquisition of FineLine Prototyping, Inc. (FineLine). The operations of FineLine have been integrated into the operations of the Company and operating results beginning April 23, 2014 are included in the consolidated results under the Fineline product line. During the three months ended September 30, 2015, the Company adjusted the useful lives of its primary production equipment based on experience and condition of current equipment. This change in accounting estimate is accounted for prospectively, and therefore had no effect on property and equipment, net as previously reported. This change was not material. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. For further information, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission (SEC) on February 27, 2015. The accompanying Consolidated Balance Sheet as of December 31, 2014 was derived from the audited Consolidated Financial Statements but does not include all disclosures required by U.S. GAAP for a full set of financial statements. This Form 10-Q should be read in conjunction with the Company’s Consolidated Financial Statements and Notes included in the Annual Report on Form 10-K filed on February 27, 2015 as referenced above.

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 2 – Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. This ASU is a comprehensive new revenue recognition model that requires a company to recognize revenue from the transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. The Company is required to adopt the new pronouncement using one of two retrospective application methods. On July 9, 2015, the FASB voted to approve a deferral of the effective date of ASU 2014-09 by one year to December 15, 2017 for annual reporting periods beginning after that date. The Company is evaluating the application method and the impact of this new standard on our financial statements, but does not expect the impact to be material.

Note 3 - Net Income per Common

Note 3 - Net Income per Common Share	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3 – Net Income per Common Share Basic net income per share is computed based on the weighted-average number of common shares outstanding. Diluted net income per share is computed based on the weighted-average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options, restricted stock units and restricted stock awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. The table below sets forth the computation of basic and diluted net income per share: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except share and per share amounts) 2015 2014 2015 2014 Net income $ 12,382 $ 10,384 $ 34,521 $ 31,442 Basic - weighted-average shares outstanding: 26,083,405 25,757,593 25,952,451 25,651,156 Effect of dilutive securities: Employee stock options and other 297,908 443,148 338,307 458,383 Diluted - weighted-average shares outstanding: 26,381,313 26,200,741 26,290,758 26,109,539 Net income per share: Basic $ 0.47 $ 0.40 $ 1.33 $ 1.23 Diluted $ 0.47 $ 0.40 $ 1.31 $ 1.20

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4 – Goodwill and Other Intangible Assets The changes in the carrying amount of Goodwill during the nine months ended September 30, 2015 were as follows: (in thousands) Nine Months Ended September 30, 2015 Balance as of the beginning of the period $ 28,916 Goodwill acquired during the period - Balance as of the end of the period $ 28,916 Intangible assets other than Goodwill at September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 Weighted Average (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful (in years) Useful Life Remaining (in years) Intangible Assets with finite lives: Marketing assets $ 930 $ (132 ) $ 798 $ 930 $ (62 ) $ 868 10.0 8.6 Non-compete agreement 190 (135 ) 55 190 (63 ) 127 2.0 0.6 Trade secrets 250 (71 ) 179 250 (33 ) 217 5.0 3.6 Internally developed software 680 (321 ) 359 680 (151 ) 529 3.0 1.6 Customer relationships 2,530 (398 ) 2,132 2,530 (188 ) 2,342 9.0 7.6 Total intangible assets $ 4,580 $ (1,057 ) $ 3,523 $ 4,580 $ (497 ) $ 4,083 Amortization expense for intangible assets for the three and nine months ended September 30, 2015 was $0.2 million and $0.6 million, respectively. Amortization expense for intangible assets, which were acquired in the purchase of FineLine in April 2014, was $0.2 million and $0.3 million for the three and nine months ended September 30, 2014, respectively. Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows: (in thousands) Estimated Amortization Expense Remaining 2015 $ 186 2016 682 2017 500 2018 424 2019 391 Thereafter 1,340 Total estimated amortization expense $ 3,523

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 5 – Fair Value Measurements ASC 820, Fair Value Measuremen Level 1 Level 2 Level 3 The Company’s cash consists of bank deposits. The Company’s cash equivalents measured at fair value consist of money market mutual funds. The Company determines the fair value of these investments using Level 1 inputs. A summary of financial assets as of September 30 , 2015 and December 31, 2014 measured at fair value on a recurring basis follows: September 30, 2015 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual fund $ 15,698 $ - $ - $ 6,129 $ - $ - Total $ 15,698 $ - $ - $ 6,129 $ - $ -

Note 6 - Marketable Securities

Note 6 - Marketable Securities	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Investment [Text Block]	Note 6 – Marketable Securities The Company invests in short-term and long-term agency, municipal, corporate and other debt securities. The securities are categorized as held-to-maturity and are recorded at amortized cost. Categorization as held-to-maturity is based on the Company’s ability and intent to hold these securities to maturity. Information regarding the Company’s short-term and long-term marketable securities as of September 30, 2015 and December 31, 2014 is as follows: September 30, 2015 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 34,343 $ 32 $ (8 ) $ 34,367 Corporate debt securities 26,995 16 (19 ) 26,992 U.S. government agency securities 18,866 11 (17 ) 18,860 Certificates of deposit/time deposits 5,659 8 - 5,667 Total marketable securities $ 85,863 $ 67 $ (44 ) $ 85,886 December 31, 2014 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 30,004 $ 32 $ (18 ) $ 30,018 Corporate debt securities 29,316 7 (79 ) 29,244 U.S. government agency securities 20,048 - (71 ) 19,977 Certificates of deposit/time deposits 5,656 5 (15 ) 5,646 Total marketable securities $ 85,024 $ 44 $ (183 ) $ 84,885 Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1). Fair values for the U.S. municipal securities, U.S. government agency securities and certificates of deposit are primarily determined using dealer quotes or quoted market prices for similar securities (Level 2). The Company tests for other-than-temporary losses on a quarterly basis and has considered the unrealized losses indicated above, which are the result of changes in interest rates, to be temporary in nature. In reaching this conclusion, the Company considered the credit quality of the issuers of the debt securities as well as the Company’s intent to hold the investments to maturity and recover the full principal. Classification of marketable securities as current or non-current is based upon the security’s maturity date as of the date of these financial statements. The September 30, 2015 balance of held-to-maturity debt securities by contractual maturity is shown in the following table at amortized cost. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. September 30, (in thousands) 2015 Due in one year or less $ 28,062 Due after one year through five years 57,801 Total marketable securities $ 85,863

Note 7 - Inventory

Note 7 - Inventory	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 7 – Inventory Inventory consists primarily of raw materials, which are recorded at the lower of cost or market using the average-cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts. The Company’s inventory consisted of the following as of the dates indicated: September 30, December 31, (in thousands) 2015 2014 Raw materials $ 6,528 $ 5,728 Work in process 905 653 Total inventory 7,433 6,381 Allowance for obsolescence (205 ) (187 ) Inventory, net of allowance $ 7,228 $ 6,194

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 8 – Stock-Based Compensation Under the 2012 Long-Term Incentive Plan (2012 Plan), the Company has the ability to grant stock options, stock appreciation rights (SARs), restricted stock, stock units, other stock-based awards and cash incentive awards. Awards under the 2012 Plan have a maximum term of ten years from the date of grant. The compensation committee may provide that the vesting or payment of any award will be subject to the attainment of specified performance measures in addition to the satisfaction of any continued service requirements and the compensation committee will determine whether such measures have been achieved. The per share exercise price of stock options and SARs granted under the 2012 Plan generally may not be less than the fair market value of a share of our common stock on the date of the grant. Employee Stock Purchase Plan The Company’s 2012 Employee Stock Purchase Plan (ESPP) allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15 percent of their eligible compensation, subject to plan limitations. The ESPP provides for six-month offering periods ending May 15 and November 15, respectively. At the end of each offering period, employees are able to purchase shares at 85 percent of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the last trading day of the offering period. Stock-Based Compensation Expense Stock-based compensation expense was $1.6 million and $1.3 million for the three months ended September 30, 2015 and 2014, respectively, and $4.5 million and $3.6 million for the nine months ended September 30, 2015 and 2014, respectively. Stock Options A summary of stock option activity during the nine months ended September 30, 2015 is as follows: Weighted- Average Stock Options Exercise Price Options outstanding at December 31, 2014 998,987 $ 26.49 Granted 110,335 67.36 Exercised (292,590 ) 14.76 Forfeited (25,915 ) 52.22 Options outstanding at September 30, 2015 790,817 $ 35.69 Exercisable at September 30, 2015 310,568 $ 22.45 The outstanding options generally have a term of ten years. For employees, options granted become exercisable ratably over the vesting period, which is generally a five-year period beginning on the first anniversary of the grant date, subject to the employee’s continuing service to the Company. For directors, options generally become exercisable in full on the first anniversary of the grant date. The weighted-average grant date fair value of options that were granted during the nine months ended September 30, 2015 was $32.42. The following table provides the assumptions used in the Black-Scholes pricing model valuation of options during the nine months ended September 30, 2015 and 2014, respectively: Nine Months Ended September 30, 2015 2014 Risk-free interest rate 1.69 - 1.77% 0.43 - 2.14% Expected life (years) 5.50 - 6.50 2.00 - 6.50 Expected volatility 46.80 - 47.23% 47.82 - 49.30% Expected dividend yield 0% 0% As of September 30, 2015, there was $7.9 million of unrecognized compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 3.2 years . Restricted Stock Restricted stock awards are share settled awards and restrictions lapse ratably over the vesting period, which is generally a five-year period, beginning on the first anniversary of the grant date, subject to the employee's continuing service to the Company. For directors, restrictions generally lapse in full on the first anniversary of the grant date. A summary of restricted stock activity during the nine months ended September 30, 2015 is as follows: Weighted- Average Grant Date Restricted Fair Value Stock Per Share Restricted stock at December 31, 2014 76,574 $ 69.27 Granted 68,580 68.89 Restrictions lapsed (16,227 ) 69.50 Forfeited (1,858 ) 78.59 Restricted stock at September 30, 2015 127,069 $ 68.90 As of September 30 , 2015, there was $7.3 million of unrecognized compensation expense related to non-vested restricted stock, which is expected to be recognized over a weighted-average period of 3.9 years. Employee Stock Purchase Plan The following table presents the assumptions used to estimate the fair value of the ESPP during the nine months ended September 30 , 2015 and 2014, respectively: Nine Months Ended September 30, 2015 2014 Risk-free interest rate 0.08 - 0.10% 0.01 - 0.11% Expected life (months) 6.00 6.00 Expected volatility 33.68 - 37.64% 39.16 - 39.80% Expected dividend yield 0% 0%

Note 9 - Accumulated Other Comp

Note 9 - Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Reclassification Amount [Text Block]	Note 9 – Accumulated Other Comprehensive Income (Loss) Other comprehensive income (loss) is comprised entirely of foreign currency translation adjustments. The following table presents the changes in accumulated other comprehensive income (loss) balances during the three and nine months ended September 30 , 2015 and 2014, respectively: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Foreign currency translation adjustments Balance at beginning of period $ (2,730 ) $ (387 ) $ (2,929 ) $ (1,091 ) Other comprehensive loss before reclassifications (966 ) (1,373 ) (767 ) (669 ) Amounts reclassified from accumulated other comprehensive income (loss) - - - - Net current-period other comprehensive loss (966 ) (1,373 ) (767 ) (669 ) Balance at end of period $ (3,696 ) $ (1,760 ) $ (3,696 ) $ (1,760 )

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 10 – Income Taxes The Company is subject to income tax in multiple jurisdictions and the use of estimates is required to determine the provision for income taxes. For the three months ended September 30, 2015 and 2014, the Company recorded an income tax provision of $5.6 million and $5.0 million, respectively. For the nine months ended September 30, 2015 and 2014, the Company recorded an income tax provision of $16.2 million and $14.4 million, respectively. The income tax provision is based on the estimated annual effective tax rate for the year applied to pre-tax income. The effective income tax rate for the three months ended September 30, 2015 was 31.2 percent compared to 32.5 percent in the same period of the prior year. The effective income tax rate for the nine months ended September 30, 2015 was 31.9 percent compared to 31.4 percent in the same period of the prior year. The effective income tax rate for the three and nine months ended September 30, 2015 differs from the U.S. federal statutory rate of 35 percent due primarily to the mix of income earned in domestic and foreign tax jurisdictions and deductions and credits for which the Company qualifies. The Company had liabilities related to unrecognized tax benefits totaling $1.7 million at September 30, 2015 and $1.3 million at December 31, 2014, all of which, if recognized, would affect the Company’s effective tax rate. The Company recognizes interest and penalties related to income tax matters in income tax expense, and reports the liability in current or long-term income taxes payable as appropriate. During the nine months ended September 30, 2015, the Company increased its current year uncertain tax positions by $0.4 million. Based upon the information available as of September 30, 2015, the Company anticipates the amount of uncertain tax positions will change in the next twelve months; however, the change is not expected to be material.

Note 11 - Revenue and Geographi

Note 11 - Revenue and Geographic Information	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 11 – Revenue and Geographic Information The Company’s revenue is derived from its Protomold injection molding, Firstcut computer numerical control (CNC) machining and Fineline additive manufacturing (3D printing) product lines. Total revenue by product line is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Revenue: Protomold $ 41,971 $ 35,655 $ 119,521 $ 104,604 Firstcut 19,833 15,549 54,788 43,407 Fineline 6,038 3,370 16,038 5,503 Total revenue $ 67,842 $ 54,574 $ 190,347 $ 153,514 Revenue to external customers based on the billing location of the end user customer and long-lived assets by geographic region are as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Revenue: United States $ 50,214 $ 40,822 $ 144,357 $ 113,810 International 17,628 13,752 45,990 39,704 Total revenue $ 67,842 $ 54,574 $ 190,347 $ 153,514 September 30, December 31, (in thousands) 2015 2014 Long-lived assets: United States $ 90,683 $ 76,923 International 17,943 14,703 Total long-lived assets $ 108,626 $ 91,626

Note 12 - Subsequent Events

Note 12 - Subsequent Events	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12 – Subsequent Events In October 2015, the Company acquired certain assets and shares of Alphaform AG, a provider of additive manufacturing, injection molding and other services. Total consideration paid for this acquisition was $5.5 million.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The unaudited interim Consolidated Financial Statements of Proto Labs, Inc. (Proto Labs, the Company, we, us or our) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. These statements are unaudited but, in the opinion of management, reflect all adjustments necessary for a fair presentation of the Company’s statement of financial position, results of operations and cash flows for the periods presented. Except as otherwise disclosed herein, these adjustments consist of normal, recurring items. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. On April 23, 2014, the Company completed the acquisition of FineLine Prototyping, Inc. (FineLine). The operations of FineLine have been integrated into the operations of the Company and operating results beginning April 23, 2014 are included in the consolidated results under the Fineline product line. During the three months ended September 30, 2015, the Company adjusted the useful lives of its primary production equipment based on experience and condition of current equipment. This change in accounting estimate is accounted for prospectively, and therefore had no effect on property and equipment, net as previously reported. This change was not material. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. For further information, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission (SEC) on February 27, 2015. The accompanying Consolidated Balance Sheet as of December 31, 2014 was derived from the audited Consolidated Financial Statements but does not include all disclosures required by U.S. GAAP for a full set of financial statements. This Form 10-Q should be read in conjunction with the Company’s Consolidated Financial Statements and Notes included in the Annual Report on Form 10-K filed on February 27, 2015 as referenced above.
New Accounting Pronouncements, Policy [Policy Text Block]	In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. This ASU is a comprehensive new revenue recognition model that requires a company to recognize revenue from the transfer of goods or services to customers in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. The Company is required to adopt the new pronouncement using one of two retrospective application methods. On July 9, 2015, the FASB voted to approve a deferral of the effective date of ASU 2014-09 by one year to December 15, 2017 for annual reporting periods beginning after that date. The Company is evaluating the application method and the impact of this new standard on our financial statements, but does not expect the impact to be material.

Note 3 - Net Income per Commo19

Note 3 - Net Income per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except share and per share amounts) 2015 2014 2015 2014 Net income $ 12,382 $ 10,384 $ 34,521 $ 31,442 Basic - weighted-average shares outstanding: 26,083,405 25,757,593 25,952,451 25,651,156 Effect of dilutive securities: Employee stock options and other 297,908 443,148 338,307 458,383 Diluted - weighted-average shares outstanding: 26,381,313 26,200,741 26,290,758 26,109,539 Net income per share: Basic $ 0.47 $ 0.40 $ 1.33 $ 1.23 Diluted $ 0.47 $ 0.40 $ 1.31 $ 1.20

Note 4 - Goodwill and Other I20

Note 4 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Goodwill [Table Text Block]	(in thousands) Nine Months Ended September 30, 2015 Balance as of the beginning of the period $ 28,916 Goodwill acquired during the period - Balance as of the end of the period $ 28,916
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2015 December 31, 2014 Weighted Average (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful (in years) Useful Life Remaining (in years) Intangible Assets with finite lives: Marketing assets $ 930 $ (132 ) $ 798 $ 930 $ (62 ) $ 868 10.0 8.6 Non-compete agreement 190 (135 ) 55 190 (63 ) 127 2.0 0.6 Trade secrets 250 (71 ) 179 250 (33 ) 217 5.0 3.6 Internally developed software 680 (321 ) 359 680 (151 ) 529 3.0 1.6 Customer relationships 2,530 (398 ) 2,132 2,530 (188 ) 2,342 9.0 7.6 Total intangible assets $ 4,580 $ (1,057 ) $ 3,523 $ 4,580 $ (497 ) $ 4,083
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(in thousands) Estimated Amortization Expense Remaining 2015 $ 186 2016 682 2017 500 2018 424 2019 391 Thereafter 1,340 Total estimated amortization expense $ 3,523

Note 5 - Fair Value Measureme21

Note 5 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	September 30, 2015 December 31, 2014 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual fund $ 15,698 $ - $ - $ 6,129 $ - $ - Total $ 15,698 $ - $ - $ 6,129 $ - $ -

Note 6 - Marketable Securities

Note 6 - Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Held-to-maturity Securities [Table Text Block]	September 30, 2015 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 34,343 $ 32 $ (8 ) $ 34,367 Corporate debt securities 26,995 16 (19 ) 26,992 U.S. government agency securities 18,866 11 (17 ) 18,860 Certificates of deposit/time deposits 5,659 8 - 5,667 Total marketable securities $ 85,863 $ 67 $ (44 ) $ 85,886 December 31, 2014 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. municipal securities $ 30,004 $ 32 $ (18 ) $ 30,018 Corporate debt securities 29,316 7 (79 ) 29,244 U.S. government agency securities 20,048 - (71 ) 19,977 Certificates of deposit/time deposits 5,656 5 (15 ) 5,646 Total marketable securities $ 85,024 $ 44 $ (183 ) $ 84,885
Investments Classified by Contractual Maturity Date [Table Text Block]	September 30, (in thousands) 2015 Due in one year or less $ 28,062 Due after one year through five years 57,801 Total marketable securities $ 85,863

Note 7 - Inventory (Tables)

Note 7 - Inventory (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, (in thousands) 2015 2014 Raw materials $ 6,528 $ 5,728 Work in process 905 653 Total inventory 7,433 6,381 Allowance for obsolescence (205 ) (187 ) Inventory, net of allowance $ 7,228 $ 6,194

Note 8 - Stock-based Compensa24

Note 8 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted- Average Stock Options Exercise Price Options outstanding at December 31, 2014 998,987 $ 26.49 Granted 110,335 67.36 Exercised (292,590 ) 14.76 Forfeited (25,915 ) 52.22 Options outstanding at September 30, 2015 790,817 $ 35.69 Exercisable at September 30, 2015 310,568 $ 22.45
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine Months Ended September 30, 2015 2014 Risk-free interest rate 1.69 - 1.77% 0.43 - 2.14% Expected life (years) 5.50 - 6.50 2.00 - 6.50 Expected volatility 46.80 - 47.23% 47.82 - 49.30% Expected dividend yield 0% 0%
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Weighted- Average Grant Date Restricted Fair Value Stock Per Share Restricted stock at December 31, 2014 76,574 $ 69.27 Granted 68,580 68.89 Restrictions lapsed (16,227 ) 69.50 Forfeited (1,858 ) 78.59 Restricted stock at September 30, 2015 127,069 $ 68.90
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Nine Months Ended September 30, 2015 2014 Risk-free interest rate 0.08 - 0.10% 0.01 - 0.11% Expected life (months) 6.00 6.00 Expected volatility 33.68 - 37.64% 39.16 - 39.80% Expected dividend yield 0% 0%

Note 9 - Accumulated Other Co25

Note 9 - Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Foreign currency translation adjustments Balance at beginning of period $ (2,730 ) $ (387 ) $ (2,929 ) $ (1,091 ) Other comprehensive loss before reclassifications (966 ) (1,373 ) (767 ) (669 ) Amounts reclassified from accumulated other comprehensive income (loss) - - - - Net current-period other comprehensive loss (966 ) (1,373 ) (767 ) (669 ) Balance at end of period $ (3,696 ) $ (1,760 ) $ (3,696 ) $ (1,760 )

Note 11 - Revenue and Geograp26

Note 11 - Revenue and Geographic Information (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Revenue: Protomold $ 41,971 $ 35,655 $ 119,521 $ 104,604 Firstcut 19,833 15,549 54,788 43,407 Fineline 6,038 3,370 16,038 5,503 Total revenue $ 67,842 $ 54,574 $ 190,347 $ 153,514
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Revenue: United States $ 50,214 $ 40,822 $ 144,357 $ 113,810 International 17,628 13,752 45,990 39,704 Total revenue $ 67,842 $ 54,574 $ 190,347 $ 153,514
Long-lived Assets by Geographic Areas [Table Text Block]	September 30, December 31, (in thousands) 2015 2014 Long-lived assets: United States $ 90,683 $ 76,923 International 17,943 14,703 Total long-lived assets $ 108,626 $ 91,626

Note 3 - Net Income per Commo27

Note 3 - Net Income per Common Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 12,382	$ 10,384	$ 34,521	$ 31,442
Basic - weighted-average shares outstanding: (in shares)	26,083,405	25,757,593	25,952,451	25,651,156
Effect of dilutive securities:
Employee stock options and other (in shares)	297,908	443,148	338,307	458,383
Diluted - weighted-average shares outstanding: (in shares)	26,381,313	26,200,741	26,290,758	26,109,539
Net income per share:
Basic (in dollars per share)	$ 0.47	$ 0.40	$ 1.33	$ 1.23
Diluted (in dollars per share)	$ 0.47	$ 0.40	$ 1.31	$ 1.20

Note 4 - Goodwill and Other I28

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Amortization of Intangible Assets	$ 0.2	$ 0.2	$ 0.6	$ 0.3

Note 4 - Goodwill and Other I29

Note 4 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Balance as of the beginning of the period	$ 28,916,000
Goodwill acquired during the period	0
Balance as of the end of the period	$ 28,916,000

Note 4 - Goodwill and Other I30

Note 4 - Goodwill and Other Intangible Assets - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Marketing-Related Intangible Assets [Member]
Intangible Assets with finite lives:
Gross	$ 930	$ 930
Accumulated amortization	(132)	(62)
Net	$ 798	868
Useful life	10 years
Weighted average useful life remaining	8 years 219 days
Noncompete Agreements [Member]
Intangible Assets with finite lives:
Gross	$ 190	190
Accumulated amortization	(135)	(63)
Net	$ 55	127
Useful life	2 years
Weighted average useful life remaining	219 days
Trade Secrets [Member]
Intangible Assets with finite lives:
Gross	$ 250	250
Accumulated amortization	(71)	(33)
Net	$ 179	217
Useful life	5 years
Weighted average useful life remaining	3 years 219 days
Computer Software, Intangible Asset [Member]
Intangible Assets with finite lives:
Gross	$ 680	680
Accumulated amortization	(321)	(151)
Net	$ 359	529
Useful life	3 years
Weighted average useful life remaining	1 year 219 days
Customer Relationships [Member]
Intangible Assets with finite lives:
Gross	$ 2,530	2,530
Accumulated amortization	(398)	(188)
Net	$ 2,132	2,342
Useful life	9 years
Weighted average useful life remaining	7 years 219 days
Gross	$ 4,580	4,580
Accumulated amortization	(1,057)	(497)
Net	$ 3,523	$ 4,083

Note 4 - Goodwill and Other I31

Note 4 - Goodwill and Other Intangible Assets - Estimated Aggregated Amortization Expense (Details) $ in Thousands	Sep. 30, 2015USD ($)
Remaining 2,015	$ 186
2,016	682
2,017	500
2,018	424
2,019	391
Thereafter	1,340
Total estimated amortization expense	$ 3,523

Note 5 - Fair Value Measureme32

Note 5 - Fair Value Measurements - Fair Value of Financial Assets Measured on a Recurring Basis (Details) - Fair Value, Inputs, Level 1 [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Cash and cash equivalents:
Money market mutual fund	$ 15,698	$ 6,129
Total	$ 15,698	$ 6,129

Note 6 - Marketable Securitie33

Note 6 - Marketable Securities - Short-term and Long-term Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost	$ 34,343	$ 30,004
Unrealized Gains	32	32
Unrealized Losses	(8)	(18)
Fair Value	34,367	30,018
Corporate Debt Securities [Member]
Amortized Cost	26,995	29,316
Unrealized Gains	16	7
Unrealized Losses	(19)	(79)
Fair Value	26,992	29,244
US Government Agencies Debt Securities [Member]
Amortized Cost	18,866	$ 20,048
Unrealized Gains	11
Unrealized Losses	(17)	$ (71)
Fair Value	18,860	19,977
Bank Time Deposits [Member]
Amortized Cost	5,659	5,656
Unrealized Gains	$ 8	5
Unrealized Losses		(15)
Fair Value	$ 5,667	5,646
Amortized Cost	85,863	85,024
Unrealized Gains	67	44
Unrealized Losses	(44)	(183)
Fair Value	$ 85,886	$ 84,885

Note 6 - Marketable Securitie34

Note 6 - Marketable Securities - Balance of Held-to-Maturity Debt Securities by Contractual Maturity (Details) $ in Thousands	Sep. 30, 2015USD ($)
Due in one year or less	$ 28,062
Due after one year through five years	57,801
Total marketable securities	$ 85,863

Note 7 - Inventory - Inventory

Note 7 - Inventory - Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Raw materials	$ 6,528	$ 5,728
Work in process	905	653
Total inventory	7,433	6,381
Allowance for obsolescence	(205)	(187)
Inventory, net of allowance	$ 7,228	$ 6,194

Note 8 - Stock-based Compensa36

Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 7,900		$ 7,900
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years 73 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	7,300		$ 7,300
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years 328 days
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date			15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period			180 days
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent			85.00%
Share-based Compensation	$ 1,600	$ 1,300	$ 4,515	$ 3,561
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 32.42

Note 8 - Stock-based Compensa37

Note 8 - Stock-based Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Options outstanding (in shares)	998,987
Options outstanding (in dollars per share) | $ / shares	$ 26.49
Granted (in shares)	110,335
Granted (in dollars per share) | $ / shares	$ 67.36
Exercised (in shares)	(292,590)
Exercised (in dollars per share) | $ / shares	$ 14.76
Forfeited (in shares)	(25,915)
Forfeited (in dollars per share) | $ / shares	$ 52.22
Options outstanding (in shares)	790,817
Options outstanding (in dollars per share) | $ / shares	$ 35.69
Exercisable at September 30, 2015 (in shares)	310,568
Exercisable at September 30, 2015 (in dollars per share) | $ / shares	$ 22.45

Note 8 - Stock-based Compensa38

Note 8 - Stock-based Compensation - Assumptions Used in the Black-Scholes Option Pricing Model (Details) - Employee Stock Option [Member]	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Minimum [Member]
Risk-free interest rate	1.69%	0.43%
Expected life (years)	5 years 182 days	2 years
Expected volatility	46.80%	47.82%
Maximum [Member]
Risk-free interest rate	1.77%	2.14%
Expected life (years)	6 years 182 days	6 years 182 days
Expected volatility	47.23%	49.30%
Expected dividend yield	0.00%	0.00%

Note 8 - Stock-based Compensa39

Note 8 - Stock-based Compensation - Non-vested Restricted Stock Options (Details) - Restricted Stock [Member]	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Restricted stock at December 31, 2014 (in shares)	76,574
Restricted stock at December 31, 2014 (in dollars per share) | $ / shares	$ 69.27
Granted (in shares)	68,580
Granted (in dollars per share) | $ / shares	$ 68.89
Restrictions lapsed (in shares)	(16,227)
Restrictions lapsed (in dollars per share) | $ / shares	$ 69.50
Forfeited (in shares)	(1,858)
Forfeited (in dollars per share) | $ / shares	$ 78.59
Restricted stock at September 30, 2015 (in shares)	127,069
Restricted stock at September 30, 2015 (in dollars per share) | $ / shares	$ 68.90

Note 8 - Stock-based Compensa40

Note 8 - Stock-based Compensation - Assumptions Used to Estimate the Fair Value of the ESPP (Details) - ESPP [Member]	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Minimum [Member]
Risk-free interest rate	0.08%	0.01%
Expected volatility	33.68%	39.16%
Maximum [Member]
Risk-free interest rate	0.10%	0.11%
Expected volatility	37.64%	39.80%
Expected life (years)	180 days	180 days
Expected dividend yield	0.00%	0.00%

Note 9 - Accumulated Other Co41

Note 9 - Accumulated Other Comprehensive Income - Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Balance beginning of period	$ (2,730,000)	$ (387,000)	$ (2,929,000)	$ (1,091,000)
Other comprehensive loss before reclassifications	(966,000)	(1,373,000)	(767,000)	(669,000)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current-period other comprehensive loss	(966,000)	(1,373,000)	(767,000)	(669,000)
Balance at end of period	$ (3,696,000)	$ (1,760,000)	$ (3,696,000)	$ (1,760,000)

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%		35.00%
Income Tax Expense (Benefit)	$ 5,615	$ 5,003	$ 16,171	$ 14,404
Effective Income Tax Rate Reconciliation, Percent	31.20%	32.50%	31.90%	31.40%
Unrecognized Tax Benefits	$ 1,700		$ 1,700		$ 1,300
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions			$ 400

Note 11 - Revenue and Geograp43

Note 11 - Revenue and Geographic Information - Total Revenue by Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Protomold [Member]
Revenue:
Revenues	$ 41,971	$ 35,655	$ 119,521	$ 104,604
First Cut [Member]
Revenue:
Revenues	19,833	15,549	54,788	43,407
Fineline [Member]
Revenue:
Revenues	6,038	3,370	16,038	5,503
Revenues	$ 67,842	$ 54,574	$ 190,347	$ 153,514

Note 11 - Revenue and Geograp44

Note 11 - Revenue and Geographic Information - Revenue to External Customers and Long-lived Assets by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
UNITED STATES
Revenues	$ 50,214	$ 40,822	$ 144,357	$ 113,810
International [Member]
Revenues	17,628	13,752	45,990	39,704
Revenues	$ 67,842	$ 54,574	$ 190,347	$ 153,514

Note 11 - Revenue and Geograp45

Note 11 - Revenue and Geographic Information - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
UNITED STATES
Long-lived assets:
Long-lived assets	$ 90,683	$ 76,923
International [Member]
Long-lived assets:
Long-lived assets	17,943	14,703
Long-lived assets	$ 108,626	$ 91,626

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) $ in Millions	1 Months Ended
	Oct. 31, 2015USD ($)
Alphaform A.G. [Member] | Subsequent Event [Member]
Business Combination, Consideration Transferred	$ 5.5