Proto Labs (PRLB) 10-K 19 Feb 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 10, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001443669
Entity Registrant Name	Proto Labs Inc
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-35435
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1939628
Entity Address, Address Line One	5540 Pioneer Creek Drive
Entity Address, City or Town	Maple Plain
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55359
City Area Code	763
Local Phone Number	479-3680
Title of 12(b) Security	Common Stock, Par Value $0.001 Per Share
Trading Symbol	PRLB
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,000,000,000
Entity Common Stock, Shares Outstanding		27,604,879

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 127,603	$ 125,225
Short-term marketable securities	34,088	35,437
Accounts receivable, net of allowance for doubtful accounts of $1,781 and $952 as of December 31, 2020 and December 31, 2019, respectively	57,877	57,450
Inventory	10,862	10,075
Prepaid expenses and other current assets	11,032	8,232
Income taxes receivable	540	0
Total current assets	242,002	236,419
Property and equipment, net	282,666	263,712
Goodwill	128,752	128,752
Other intangible assets, net	14,350	17,369
Long-term marketable securities	59,357	12,960
Operating lease assets	9,855	11,425
Finance lease assets	2,396	0
Other long-term assets	4,826	3,030
Total assets	744,204	673,667
Current liabilities
Accounts payable	18,248	16,804
Accrued compensation	11,989	15,058
Accrued liabilities and other	16,193	11,057
Current operating lease liabilities	3,272	3,340
Current finance lease liabilities	552	0
Income taxes payable	0	1,322
Total current liabilities	50,254	47,581
Long-term operating lease liabilities	7,586	8,565
Long-term finance lease liabilities	1,919	0
Long-term deferred tax liabilities	33,854	26,283
Other long-term liabilities	6,235	5,448
Total liabilities	99,848	87,877
Shareholders' equity
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of December 31, 2020 and December 31, 2019, respectively	0	0
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 26,776,796 and 26,786,459 shares as of December 31, 2020 and December 31, 2019, respectively	27	27
Additional paid-in capital	284,848	268,059
Retained earnings	362,901	324,722
Accumulated other comprehensive loss	(3,420)	(7,018)
Total shareholders' equity	644,356	585,790
Total liabilities and shareholders' equity	$ 744,204	$ 673,667

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 1,781	$ 952
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
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)	26,776,796	26,786,459
Common stock, shares outstanding (in shares)	26,776,796	26,786,459

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statements of Operations:
Revenue	$ 434,395	$ 458,728	$ 445,596
Cost of revenue	216,568	223,438	206,917
Gross profit	217,827	235,290	238,679
Operating expenses
Marketing and sales	69,309	72,976	68,533
Research and development	36,940	32,692	28,735
General and administrative	51,742	49,766	52,513
Total operating expenses	157,991	155,434	149,781
Income from operations	59,836	79,856	88,898
Other income, net	3,109	1,337	2,757
Income before income taxes	62,945	81,193	91,655
Provision for income taxes	12,078	17,538	15,067
Net income	$ 50,867	$ 63,655	$ 76,588
Net income per share:
Basic (in dollars per share)	$ 1.90	$ 2.37	$ 2.84
Diluted (in dollars per share)	$ 1.89	$ 2.35	$ 2.81
Shares used to compute net income per share:
Basic (in shares)	26,737,425	26,866,985	26,982,614
Diluted (in shares)	26,896,357	27,049,423	27,278,816
Other Comprehensive Income (Loss), net of tax
Foreign currency translation adjustments	$ 3,598	$ 1,474	$ (3,258)
Comprehensive income	$ 54,465	$ 65,129	$ 73,330

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017						26,828,651
Balance at Dec. 31, 2017						$ 27	$ 241,725	$ 224,697	$ (5,234)	$ 461,215
Common shares issued on exercise of options and other (in shares)						260,694
Common shares issued on exercise of options and other						$ 0	6,791	0	0	6,791
Stock-based compensation expense						$ 0	10,928	0	0	10,928
Repurchases of Common Stock (in shares)						(104,598)
Repurchases of Common Stock						$ 0	(942)	(11,287)	0	(12,229)
Net income						0	0	76,588	0	76,588
Foreign currency translation adjustments						$ 0	0	0	(3,258)	(3,258)
Comprehensive income										73,330
Balance (in shares) at Dec. 31, 2018						26,984,747
Balance (Accounting Standards Update 2014-09 [Member]) at Dec. 31, 2018	$ 0	$ 0	$ 1,462	$ 0	$ 1,462
Balance at Dec. 31, 2018						$ 27	258,502	291,460	(8,492)	541,497
Common shares issued on exercise of options and other (in shares)						128,174
Common shares issued on exercise of options and other						$ 0	1,904	0	0	1,904
Stock-based compensation expense						$ 0	10,781	0	0	10,781
Repurchases of Common Stock (in shares)						(326,462)
Repurchases of Common Stock						$ 0	(3,128)	(30,393)	0	(33,521)
Net income								63,655		63,655
Foreign currency translation adjustments						$ 0	0	0	1,474	1,474
Comprehensive income										$ 65,129
Balance (in shares) at Dec. 31, 2019						26,786,459				26,786,459
Balance at Dec. 31, 2019						$ 27	268,059	324,722	(7,018)	$ 585,790
Common shares issued on exercise of options and other (in shares)						189,951
Common shares issued on exercise of options and other						$ 0	4,114	0	0	4,114
Stock-based compensation expense						$ 0	14,673	0	0	14,673
Repurchases of Common Stock (in shares)						(199,614)
Repurchases of Common Stock						$ 0	(1,998)	(12,688)	0	(14,686)
Net income						0	0	50,867	0	50,867
Foreign currency translation adjustments						$ 0	0	0	3,598	3,598
Comprehensive income										$ 54,465
Balance (in shares) at Dec. 31, 2020						26,776,796				26,776,796
Balance at Dec. 31, 2020						$ 27	$ 284,848	$ 362,901	$ (3,420)	$ 644,356

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income	$ 50,867	$ 63,655	$ 76,588
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	32,594	30,864	26,754
Stock-based compensation expense	14,673	10,781	10,928
Deferred taxes	7,577	6,106	11,936
Gain on sale of businesses	0	0	(671)
Amortization of held-to-maturity securities	415	5	374
Other	(336)	391	(619)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(91)	1,848	(6,098)
Inventories	(662)	60	(189)
Prepaid expenses and other	(1,680)	545	(2,098)
Income taxes	(1,960)	6,555	(6,652)
Accounts payable	1,492	(719)	1,942
Accrued liabilities and other	4,080	(4,039)	10,734
Net cash provided by operating activities	106,969	116,052	122,929
Investing activities
Purchases of property, equipment and other capital assets	(47,010)	(62,230)	(87,104)
Cash used for acquisitions, net of cash acquired	0	0	(90)
Proceeds from sale of businesses	0	0	284
Purchases of other assets and investments	(3,000)	(4,000)	(126)
Purchases of marketable securities	(113,200)	(46,403)	(41,384)
Proceeds from maturities of marketable securities	67,737	68,330	65,139
Net cash used in investing activities	(95,473)	(44,303)	(63,281)
Financing activities
Payments on debt	0	0	(5,000)
Principal repayments of finance lease obligations	(154)	0	0
Proceeds from exercises of stock options	7,557	4,391	8,935
Purchases of shares withheld for tax obligations	(3,443)	(2,487)	(2,144)
Repurchases of common stock	(14,686)	(33,521)	(12,229)
Net cash used in financing activities	(10,726)	(31,617)	(10,438)
Effect of exchange rate changes on cash and cash equivalents	1,608	47	(871)
Net increase in cash and cash equivalents	2,378	40,179	48,339
Cash and cash equivalents, beginning of period	125,225	85,046	36,707
Cash and cash equivalents, end of period	127,603	125,225	85,046
Supplemental cash flow disclosure
Cash paid for interest	23	14	39
Cash paid for taxes	$ 5,650	$ 4,002	$ 9,966

Note 1 - Nature of Business

Note 1 - Nature of Business	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 Organization and business Proto Labs, Inc. and its subsidiaries (Proto Labs, the Company, we, us, or our) is an e-commerce driven digital manufacturer of quick-turn, on-demand injection-molded, computer numerical control (CNC) machined, 3D three 3D 3D Name Location PL-US International LLC United States Proto Labs Ltd. United Kingdom PL International Holdings, UK, Ltd. United Kingdom PL Euro Services Limited United Kingdom Proto Labs GmbH Germany Proto Labs Tooling GmbH Germany Proto Labs, G.K. Japan

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, as listed within “Organization and business” above. All intercompany accounts and transactions have been eliminated in consolidation. Comprehensive income Components of comprehensive income include net income and foreign currency translation adjustments. Comprehensive income is disclosed in the accompanying consolidated statements of comprehensive income and consolidated statements of shareholders’ equity. Accounting estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and cash equivalents Cash and cash equivalents include cash and other investments, including marketable securities, with maturities of three may not Marketable securities Marketable securities include held-to-maturity debt securities recorded at amortized cost. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in other income, net. Interest on securities classified as held to maturity is included in other income, net. The classification of marketable securities as current or non-current is dependent upon the security’s maturity date. Securities with maturities of three first 2020, 2016 13, Financial Instruments – Credit Losses no Accounts receivable and allowance for doubtful accounts Accounts receivable are reported at the invoiced amount less an allowance for doubtful accounts. As of each balance sheet date, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on a combination of specific customer circumstances and credit conditions taking into account the history of write-offs and collections. A receivable is considered past due if payment has not 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 first Property, equipment and leasehold improvements Property, equipment and leasehold improvements are stated at cost. Major improvements that substantially extend an asset’s useful life are capitalized. Repairs, maintenance and minor improvements are charged to operations as incurred. Depreciation, including amortization of leasehold improvements and assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the individual assets and ranges from 3 to 39 years. Manufacturing equipment is depreciated over 3 to 15 years, office furniture and equipment are depreciated over 3 to 7 years, computer hardware and software are depreciated over 3 to 5 years, building costs are depreciated over 39 years, leasehold improvements are depreciated over the estimated lives of the related assets or the life of the lease, whichever is shorter, and building and land improvements are depreciated over 10 to 39 years. Assets not not The Company follows ASC 350 40, Internal-Use Software December 31, 2020 2019 December 31, 2020 Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles—Goodwill and Other not fourth may 2020, December 31, 2020, Capitalized Software Costs The Company follows ASC 350 40, Intangibles – Goodwill and Other, Internal-Use Software Other Intangible Assets Other intangible assets include software technology, customer relationships and other intangible assets acquired from other independent parties. Other intangible assets with a definite life are amortized over a period ranging from two may not Accounting for long-lived assets The Company periodically reviews the carrying amount of its property, equipment and leasehold improvements to determine if circumstances exist indicating an impairment or if depreciation periods should be modified. If facts or circumstances indicate that an impairment may Revenue recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers no two one second Leases The Company accounts for leases in accordance with ASC 842, Leases Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes 740 may not ASC 740 not not. Stock-based compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation 718 718, not In determining the compensation cost of the options granted, the fair value of options granted has been estimated on the date of grant using the Black-Scholes option-pricing model. Advertising costs Advertising is expensed as incurred and was approximately $11.5 million, $13.0 million and $11.8 million for the years ended December 31, 2020, 2019 2018 Research and development Research and development expenses consist primarily of personnel and outside service costs related to the development of new processes and product lines, enhancements of existing product lines, development of software for internal use, maintenance of internally developed software, quality assurance and testing. Costs for internal use software are evaluated by project and capitalized where appropriate under ASC 350 40, Intangibles - Goodwill and Other, Internal-Use Software December 31, 2020, 2019 2018 Foreign currency translation/transactions The Company translated the balance sheets of its foreign subsidiaries at period-end exchange rates and the income statement at the average exchange rates in effect throughout the period. The Company has recorded the translation adjustment as a separate component of consolidated shareholders’ equity. Foreign currency transaction gains and losses are recognized in the consolidated statements of comprehensive income. Recently adopted accounting pronouncements During the first 2020, 2016 13, Financial Instruments – Credit Losses no During the first 2019, 2016 02, Leases 842 2018 11, Leases 840, Leases 12 January 1, 2019 Recently issued accounting pronouncements In December 2019, 2019 12, Income Taxes December 15, 2020 not

Note 3 - Revenue

Note 3 - Revenue	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 3 The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts with Customers A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. 3D one second The Company manufactures parts that have no two Revenue by geographic region for the years ended December 31, 2020, 2019 2018 Year Ended December 31, (in thousands) 2020 2019 2018 Revenue: United States $ 345,708 $ 360,205 $ 350,535 Europe 74,796 82,805 80,889 Japan 13,891 15,718 14,172 Total revenue $ 434,395 $ 458,728 $ 445,596 Revenue by product line for the years ended December 31, 2020, 2019 2018 Year Ended December 31, (in thousands) 2020 2019 2018 Revenue: Injection Molding $ 217,992 $ 217,415 $ 210,523 CNC Machining 131,587 155,473 153,521 3D Printing 62,502 61,352 53,342 Sheet Metal 18,838 21,000 24,998 Other Revenue 3,476 3,488 3,212 Total revenue $ 434,395 $ 458,728 $ 445,596 The Company generally expenses sales commissions when incurred because the amortization period would have been one one not

Note 4 - Net Income Per Common

Note 4 - Net Income Per Common Share	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 4 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 the 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 and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. The following table presents the calculation of net income per basic and diluted share attributable to common shareholders: Year Ended December 31, (in thousands, except share and per share amounts) 2020 2019 2018 Net Income $ 50,867 $ 63,655 $ 76,588 Basic - weighted-average shares outstanding: 26,737,425 26,866,985 26,982,614 Effect of dilutive securities: Employee stock options and other 158,932 182,438 296,202 Diluted - weighted-average shares outstanding: 26,896,357 27,049,423 27,278,816 Net income per share attributable to common shareholders: Basic $ 1.90 $ 2.37 $ 2.84 Diluted $ 1.89 $ 2.35 $ 2.81

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 5 The changes in the carrying amount of goodwill for the years ended December 31, 2020 2019 (in thousands) Dec. 31, 2018 Goodwill acquired during 2019 Dec. 31, 2019 Goodwill acquired during 2020 Dec. 31, 2020 United States $ 123,883 $ - $ 123,883 $ - $ 123,883 Europe 4,239 - 4,239 - 4,239 Japan 630 - 630 - 630 Total goodwill $ 128,752 $ - $ 128,752 $ - $ 128,752 Intangible assets other than goodwill for the years ended December 31, 2020 2019 Year Ended December 31, 2020 Year Ended December 31, 2019 Weighted Average Useful Life (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful Life (in years) Remaining (in years) Intangible Assets with finite lives: Marketing assets $930 $(620 ) $310 $930 $(527 ) $403 10.0 3.3 Non-compete agreement 270 (238 ) 32 270 (222 ) 48 2.0 - 5.0 2.3 Software technology 13,229 (3,645 ) 9,584 13,229 (2,275 ) 10,954 10.0 7.3 Customer relationships 10,070 (5,646 ) 4,424 10,070 (4,106 ) 5,964 6.0 - 9.0 2.8 Total intangible assets $ 24,499 $ (10,149 ) $ 14,350 $ 25,829 $ (8,460 ) $ 17,369 Amortization expense for intangible assets for the years ended December 31, 2020, 2019 2018 Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows: (in thousands) Estimated Amortization Expense 2021 $ 3,016 2022 3,016 2023 2,813 2024 1,400 2025 1,369 Thereafter 2,736 Total estimated amortization expense $ 14,350

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 6 ASC 820, Fair Value Measuremen 820 820 three may Level 1—Quoted Level 2—Observable 1 not Level 3—Unobservable no The Company’s cash equivalents measured at fair value as of December 31, 2020 2019 1 The following tables summarizes financial assets as of December 31, 2020 2019 December 31, 2020 December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual funds $ 55,378 $ - $ - $ 68,962 $ - $ - Total $ 55,378 $ - $ - $ 68,962 $ - $ -

Note 7 - Marketable Securities

Note 7 - Marketable Securities	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Investment [Text Block]	Note 7 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 December 31, 2020 2019 December 31, 2020 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 18,500 $ 6 $ (10 ) $ 18,496 Corporate debt securities 42,048 211 (11 ) 42,248 U.S. municipal securities 25,003 83 (2 ) 25,084 Commercial paper 2,499 - - 2,499 Certificates of deposit/time deposits 5,395 93 - 5,488 Total marketable securities $ 93,445 $ 393 $ (23 ) $ 93,815 December 31, 2019 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 6,274 $ 1 $ (7 ) $ 6,268 Corporate debt securities 26,944 80 (12 ) 27,012 U.S. municipal securities 10,204 9 (3 ) 10,210 Commercial paper 3,491 - - 3,491 Certificates of deposit/time deposits 1,484 22 - 1,506 Total marketable securities $ 48,397 $ 112 $ (22 ) $ 48,487 Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1 2 During the first 2020, 2016 13, Financial Instruments – Credit Losses no 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 December 31, 2020 may may December 31, (in thousands) 2020 Due in one year or less $ 34,088 Due after one year through five years 59,357 Total marketable securities $ 93,445

Note 8 - Property and Equipment

Note 8 - Property and Equipment	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 8 Property and equipment consists of the following: December 31, (in thousands) 2020 2019 Land $ 14,028 $ 14,098 Buildings and improvements 77,285 75,843 Machinery and equipment 221,301 208,954 Computer hardware and software 79,207 24,953 Leasehold improvements 7,821 7,341 Construction in progress 33,780 54,313 Total 433,422 385,502 Accumulated depreciation and amortization (150,756 ) (121,790 ) Property and equipment, net $ 282,666 $ 263,712 Depreciation expense for the years ended December 31, 2020, 2019 2018

Note 9 - Inventory

Note 9 - Inventory	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 9 Inventory consists primarily of raw materials, which are recorded at the lower of cost or market using the average-cost method, which approximates first first The Company’s inventory consists of the following: December 31, (in thousands) 2020 2019 Total inventory 11,122 10,319 Allowance for obsolescence (260 ) (244 ) Inventory, net of allowance $ 10,862 $ 10,075

Note 10 - Financing Obligations

Note 10 - Financing Obligations	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 10 The Company had no financing obligations as of December 31, 2020 2019

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plans	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	Note 11 The Company maintains a 401 three may may may December 31, 2020, 2019 2018, The Company also sponsors a defined contribution retirement plan that covers the employees in the United Kingdom. Total employer contributions were approximately $0.5 million for the year ended December 31, 2020 December 31, 2019 2018.

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 12 The Company has two 2000 2000 2012 2012 2012 February 21, 2012, not 2000 2012 No 2000 2012 2012 ten may 2012 may not The Company’s 2012 six first 718 Employees purchased 42,235 and 41,615 shares of common stock under the ESPP at an average exercise price of $85.85 and $86.70 during 2020 2019 December 31, 2020 The Company determines its stock-based compensation in accordance with ASC 718, Determining the appropriate fair value model and calculating the fair value of stock option grants requires the input of subjective assumptions. The Company uses the Black-Scholes option pricing model to value its stock option awards. Stock-based compensation expense is calculated using the Company’s best estimates, which involve inherent uncertainties and the application of management’s judgment. Significant estimates include its expected term and stock price volatility. The expected term of stock options is estimated from the vesting period of the award and represents the weighted average period that the Company's stock options are expected to be outstanding. The Company estimates the volatility of its stock price based on the historic volatility of its common stock. The Company bases the risk-free interest rate that it uses in the Black-Scholes option pricing model on U.S. Treasury instruments with maturities similar to the expected term of the award being valued. The Company has never paid and does not zero The following table summarizes stock-based compensation expense for the years ended December 31, 2020, 2019 2018 Year Ended December 31, (in thousands) 2020 2019 2018 Stock options and other $ 13,327 $ 9,591 $ 10,113 Employee stock purchase plan 1,346 1,190 815 Total stock-based compensation expense $ 14,673 $ 10,781 $ 10,928 Cost of revenue $ 2,451 $ 2,056 $ 1,543 Operating expenses: Marketing and sales 3,121 2,632 1,942 Research and development 2,440 1,851 1,517 General and administrative 6,661 4,242 5,926 Total stock-based compensation expense $ 14,673 $ 10,781 $ 10,928 Stock Options The following table provides the assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Risk-free interest rate 0.50 - 1.47% 2.35 - 2.58% 2.52 - 3.07% Expected life (years) 6.25 6.25 6.25 Expected volatility 42.40 - 43.83% 42.52 - 42.74% 41.68 - 42.22% Expected dividend yield 0% 0% 0% Weighted average grant date fair value $45.32 $47.84 $50.08 The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2020, 2019 2018 Weighted- Average Stock Options Exercise Price Options outstanding at January 1, 2018 399,055 $ 51.13 Granted 36,600 110.59 Exercised (155,765 ) 38.92 Cancelled (27,274 ) 74.35 Options outstanding at December 31, 2018 252,616 64.71 Granted 53,708 105.81 Exercised (16,079 ) 48.67 Cancelled (13,979 ) 89.50 Options outstanding at December 31, 2019 276,266 72.38 Granted 60,065 105.79 Exercised (68,958 ) 57.00 Cancelled (37,842 ) 67.92 Options outstanding at December 31, 2020 229,531 $ 86.46 Exercisable at December 31, 2020 94,318 $ 69.36 The outstanding options have a term of 10 four five first first The total intrinsic value of options exercised during the years ended December 31, 2020, 2019 2018 For options outstanding at December 31, 2020 December 31, 2020 The following table summarizes information about stock options outstanding at December 31, 2020 Options Outstanding, Vested and Expected to Vest Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price ($) Number Exercisable Weighted Average Exercise Price ($) $7.76 to $31.43 5,964 1.35 30.58 5,964 30.58 $31.44 to $66.87 78,482 4.81 57.51 56,032 57.18 $66.88 to $96.20 10,591 4.42 74.05 9,343 71.09 $96.21 to $123.10 134,494 8.45 106.81 22,979 108.41 The fair value of share-based payment transactions is recognized in the consolidated statements of comprehensive income. As of December 31, 2020 December 31, 2020, 2019 2018 Restricted Stock The 2012 four five first first The following table summarizes restricted stock activity for the years ended December 31, 2020, 2019 2018 Weighted- Average Grant Date Restricted Fair Value Stock Awards Per Share Restricted stock at January 1, 2018 334,831 $ 63.29 Granted 106,855 115.41 Restrictions lapsed (86,191 ) 63.64 Forfeited (31,574 ) 68.67 Restricted stock at December 31, 2018 323,921 79.85 Granted 115,471 106.35 Restrictions lapsed (92,597 ) 77.25 Forfeited (31,822 ) 87.58 Restricted stock at December 31, 2019 314,973 89.55 Granted 108,179 111.76 Restrictions lapsed (101,941 ) 84.70 Forfeited (14,012 ) 94.24 Restricted stock at December 31, 2020 307,199 $ 98.87 As of December 31, 2020 Performance Stock Performance Stock Units (PSUs) are expressed in terms of a target number of PSUs, with anywhere between 0 three The following table summarizes performance stock activity for the years ended December 31, 2020, 2019 2018 Weighted- Average Grant Date Performance Fair Value Stock Awards Per Share Performance stock at January 1, 2018 25,707 $ 58.35 Granted 20,006 105.75 Restrictions lapsed - - Performance change 6,427 58.35 Forfeited - - Performance stock at December 31, 2018 52,140 76.54 Granted 21,434 104.99 Restrictions lapsed - - Performance change (61,816 ) 88.06 Forfeited (2,375 ) 105.37 Performance stock at December 31, 2019 9,383 58.35 Granted 19,956 118.66 Restrictions lapsed (7,113 ) 58.35 Performance change - - Forfeited (2,270 ) 58.35 Performance stock at December 31, 2020 19,956 $ 118.66 As of December 31, 2020 2020 2019 Employee Stock Purchase Plan The following table presents the assumptions used to estimate the fair value of the ESPP during the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Risk-free interest rate 0.12 - 0.17% 1.59 - 2.35% 2.06 - 2.33% Expected life (months) 6.00 6.00 6.00 Expected volatility 50.85 - 59.99% 42.63 - 53.57% 31.50 - 37.36% Expected dividend yield 0% 0% 0%

Note 13 - Leases

Note 13 - Leases	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases and Financing Leases [Text Block]	Note 13 The Company accounts for leases in accordance with ASC 842, Leases one eight 12 not may December 31, 2020 not The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets, current operating lease liabilities and long-term operating lease liabilities in the Consolidated Balance Sheets and are recognized based on the present value of lease payments over the lease term at commencement date. Finance leases are included in finance lease assets, current finance lease liabilities and long-term finance lease liabilities in the Consolidated Balance Sheets and are recognized based on the present value of lease payments over the lease term at commencement date. The majority of the Company’s leases do not Supplemental balance sheet information related to leases was as follows: December 31, (in thousands) 2020 2019 Operating lease assets $ 9,855 $ 11,425 Current operating lease liabilities $ 3,272 $ 3,340 Long-term operating lease liabilities 7,586 8,565 Total operating lease liabilities $ 10,858 $ 11,905 Finance lease assets $ 2,396 $ - Current finance lease liabilities $ 552 $ - Long-term finance lease liabilities 1,919 - Total finance lease liabilities $ 2,471 $ - Lease expense is recognized on a straight-line basis over the lease term, with variable payments recognized in the period those payments are incurred. The components of lease expense for the periods reported were as follows: Twelve Months Ended December 31, (in thousands) 2020 2019 Operating lease cost $ 4,191 $ 3,960 Finance lease cost: Amortization of right-of-use assets $ 143 $ - Interest on lease obligations $ 2 $ - Variable lease cost 989 1,039 Total lease cost $ 5,325 $ 4,999 Maturities of operating and finance lease liabilities as of December 31, 2020 (in thousands) Operating Leases Finance Leases Year Ending December 31, 2021 $ 3,915 $ 561 2022 3,246 561 2023 1,460 1,371 2024 540 - 2025 494 - After 2025 1,751 - Total future minimum lease payments 11,406 2,493 Less interest (548 ) (22 ) Present value of lease liabilities $ 10,858 $ 2,471 As of December 31, 2020 no not Weighted average remaining lease term and discount rate was as follows: December 31, 2020 2019 Weighted Average Remaining Lease Term - operating leases (years) 4.4 4.8 Weighted Average Remaining Lease Term - finance leases (years) 2.5 - Weighted Average Discount Rate - operating leases 2.6 % 2.6 % Weighted Average Discount Rate - finance leases 0.5 % - Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,426 $ 5,020 Operating cash flows from finance leases $ 2 $ - Financing cash flows from finance leases $ 154 $ - Lease assets obtained in exchange for new operating lease liabilities 1,506 1,921 Lease assets obtained in exchange for new financing lease liabilities 2,523 -

Note 14 - Accumulated Other Com

Note 14 - Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Disclosure of Reclassification Amount [Text Block]	Note 14 Other comprehensive loss is comprised entirely of foreign currency translation adjustments. The following table presents the changes in accumulated other comprehensive loss balances for the years ending December 31, 2020, 2019 2018 Year Ended December 31, (in thousands) 2020 2019 2018 Foreign currency translation adjustments Balance at beginning of period $ (7,018 ) $ (8,492 ) $ (5,234 ) Other comprehensive (loss) income before reclassifications 3,598 1,474 (3,258 ) Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive (loss) income 3,598 1,474 (3,258 ) Balance at end of period $ (3,420 ) $ (7,018 ) $ (8,492 )

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 15 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 years ended December 31, 2020, 2019 2018 December 31, 2020, 2019 2018 The effective tax rate decreased by 2.4% for the year ended December 31, 2020 2019 The Tax Cuts and Jobs Act (the “Act”) was enacted on December 22, 2017. No not The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. 2017 2018 2019. March 31, 2020 December 31, 2020. 2021. The provision for income taxes is based on income before income taxes reported for financial statement purposes. The components of income before income taxes are as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Domestic $ 58,551 $ 74,841 $ 81,893 Foreign 4,394 6,352 9,762 Total $ 62,945 $ 81,193 $ 91,655 Significant components of the provision for income taxes for the following periods are as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Current: Federal $ 2,128 $ 6,991 $ (782 ) State 1,136 2,882 2,078 Foreign 1,241 1,544 1,810 Deferred Federal 6,904 5,121 11,325 State (431 ) 269 538 Foreign 210 (809 ) (430 ) Valuation Allowance 890 1,540 528 Total $ 12,078 $ 17,538 $ 15,067 A reconciliation of the federal statutory income tax rate to the effective tax rate is as follows: Year Ended December 31, 2020 2019 2018 Federal tax statutory rate 21.0 % 21.0 % 21.0 % State tax (net of federal benefit) 2.1 2.1 2.0 Share based compensation (1.3 ) (0.5 ) (2.8 ) Valuation allowance against deferred tax assets 2.0 1.4 0.7 Research and development credit (3.7 ) (2.8 ) (2.5 ) Foreign rate differential (0.8 ) (0.3 ) (0.1 ) Tax reserves 1.4 1.1 (0.1 ) Provision to return difference (1.4 ) - - Miscellaneous (0.1 ) (0.4 ) (0.5 ) Transition tax - - (0.8 ) Revaluation of deferred tax liability - - (0.5 ) Total 19.2 % 21.6 % 16.4 % Significant components of deferred tax assets and liabilities are as follows: December 31, (in thousands) 2020 2019 Deferred tax assets: Accrued expenses $ 2,155 $ 1,362 Leases 3,598 3,337 Stock-based compensation 3,356 3,325 Intangible assets 1,693 1,171 Inventories 172 169 Other assets 1,790 1,765 Net operating loss 6,647 6,513 Less valuation allowance (9,138 ) (8,248 ) Total deferred tax assets 10,273 9,394 Deferred tax liabilities: Depreciation (32,671 ) (26,750 ) Goodwill (7,858 ) (5,590 ) Leases (3,598 ) (3,337 ) Total deferred tax liabilities (44,127 ) (35,677 ) Net deferred tax liability $ (33,854 ) $ (26,283 ) The Company has recorded no U.S. deferred taxes related to the undistributed earnings of its non-U.S. subsidiaries as of December 31, 2020 not December 31, 2020 As of December 31, 2020 ten 2021 2026. may €1 €1 The Company establishes valuation allowances for deferred tax assets when, after consideration of all positive and negative evidence, it is considered more-likely-than- not not December 31, 2020 2019 2020. The Company files a U.S. federal income tax return and income tax returns in various states and foreign jurisdictions. With a few exceptions, the Company is no 2017. The Company has liabilities related to unrecognized tax benefits totaling $4.8 million and $4.6 million at December 31, 2020 2019 December 31, 2020, 2019 2018 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2020 2019 Balance at beginning of period $ 4,598 $ 4,096 Additions for tax positions of current year 324 592 Additions for tax positions of prior years 475 - Decrease related to expiration of statutes of limitations (567 ) (90 ) Balance at period end $ 4,830 $ 4,598

Note 16 - Litigation

Note 16 - Litigation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	Note 16 From time to time, the Company may not

Note 17 - Segment Reporting

Note 17 - Segment Reporting	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 17 The Company’s reportable segments are based on the internal reporting used by the Company’s CEO, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Company’s reportable segments are based upon geographic region, consisting of the United States and Europe. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs that are global in nature and that the Company does not Revenue in the United States is derived from Injection Molding, CNC Machining, 3D 3D 3D 3D The accounting policies of the reportable segments are the same as those described in Note 2 not Beginning in 2020 Revenue and income from operations by reportable segment are as follows: Year Ended December 31, (in thousands) 2020 2019 2018 Revenue: United States $ 345,708 $ 360,205 $ 350,535 Europe 74,796 82,805 80,889 Japan 13,891 15,718 14,172 Total revenue $ 434,395 $ 458,728 $ 445,596 Year Ended December 31, (in thousands) 2020 2019 2018 Income from Operations: United States $ 98,762 $ 108,594 $ 115,710 Europe 11,707 15,077 16,747 Corporate Unallocated and Japan (50,633 ) (43,815 ) (43,557 ) Total income from operations $ 59,836 $ 79,856 $ 88,898 Total long-lived assets, expenditures for additions to long-lived assets and depreciation and amortization expense are as follows: December 31, December 31, December 31, (in thousands) 2020 2019 2018 Long-lived assets: United States $ 215,721 $ 210,171 $ 185,979 Europe 59,388 45,019 34,577 Japan 7,557 8,522 7,445 Total long-lived assets $ 282,666 $ 263,712 $ 228,001 Year Ended December 31, (in thousands) 2020 2019 2018 Expenditures for additions to long-lived assets: United States $ 29,984 $ 45,123 $ 78,762 Europe 16,574 14,743 7,576 Japan 452 2,364 766 Total expenditures for additions to long-lived assets $ 47,010 $ 62,230 $ 87,104 Year Ended December 31, (in thousands) 2020 2019 2018 Depreciation and Amortization: United States $ 25,744 $ 24,767 $ 21,117 Europe 5,024 4,746 4,679 Japan 1,826 1,351 958 Total depreciation and amortization $ 32,594 $ 30,864 $ 26,754

Note 18 - Subsequent Events

Note 18 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 18 On January 22, 2021, 3D “3D 2021 2022 3D 240 805. On February 3, 2021, fourth 2020 three 3D

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, as listed within “Organization and business” above. All intercompany accounts and transactions have been eliminated in consolidation.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive income Components of comprehensive income include net income and foreign currency translation adjustments. Comprehensive income is disclosed in the accompanying consolidated statements of comprehensive income and consolidated statements of shareholders’ equity.
Use of Estimates, Policy [Policy Text Block]	Accounting estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents Cash and cash equivalents include cash and other investments, including marketable securities, with maturities of three may not
Marketable Securities, Policy [Policy Text Block]	Marketable securities Marketable securities include held-to-maturity debt securities recorded at amortized cost. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when the Company has the positive intent and ability to hold the securities to maturity. Held-to-maturity securities are stated at amortized cost, adjusted for amortization of premiums and accretion of discounts to maturity computed under the effective interest method. Such amortization is included in other income, net. Interest on securities classified as held to maturity is included in other income, net. The classification of marketable securities as current or non-current is dependent upon the security’s maturity date. Securities with maturities of three first 2020, 2016 13, Financial Instruments – Credit Losses no
Accounts Receivable [Policy Text Block]	Accounts receivable and allowance for doubtful accounts Accounts receivable are reported at the invoiced amount less an allowance for doubtful accounts. As of each balance sheet date, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts based on a combination of specific customer circumstances and credit conditions taking into account the history of write-offs and collections. A receivable is considered past due if payment has not
Inventory, Policy [Policy Text Block]	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 first
Property, Plant and Equipment, Policy [Policy Text Block]	Property, equipment and leasehold improvements Property, equipment and leasehold improvements are stated at cost. Major improvements that substantially extend an asset’s useful life are capitalized. Repairs, maintenance and minor improvements are charged to operations as incurred. Depreciation, including amortization of leasehold improvements and assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the individual assets and ranges from 3 to 39 years. Manufacturing equipment is depreciated over 3 to 15 years, office furniture and equipment are depreciated over 3 to 7 years, computer hardware and software are depreciated over 3 to 5 years, building costs are depreciated over 39 years, leasehold improvements are depreciated over the estimated lives of the related assets or the life of the lease, whichever is shorter, and building and land improvements are depreciated over 10 to 39 years. Assets not not The Company follows ASC 350 40, Internal-Use Software December 31, 2020 2019 December 31, 2020
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles—Goodwill and Other not fourth may 2020, December 31, 2020,
Internal Use Software, Policy [Policy Text Block]	Capitalized Software Costs The Company follows ASC 350 40, Intangibles – Goodwill and Other, Internal-Use Software
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Other Intangible Assets Other intangible assets include software technology, customer relationships and other intangible assets acquired from other independent parties. Other intangible assets with a definite life are amortized over a period ranging from two may not
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Accounting for long-lived assets The Company periodically reviews the carrying amount of its property, equipment and leasehold improvements to determine if circumstances exist indicating an impairment or if depreciation periods should be modified. If facts or circumstances indicate that an impairment may
Revenue [Policy Text Block]	Revenue recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers no two one second
Lessee, Leases [Policy Text Block]	Leases The Company accounts for leases in accordance with ASC 842, Leases
Income Tax, Policy [Policy Text Block]	Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes 740 may not ASC 740 not not.
Compensation Related Costs, Policy [Policy Text Block]	Stock-based compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation 718 718, not In determining the compensation cost of the options granted, the fair value of options granted has been estimated on the date of grant using the Black-Scholes option-pricing model.
Advertising Cost [Policy Text Block]	Advertising costs Advertising is expensed as incurred and was approximately $11.5 million, $13.0 million and $11.8 million for the years ended December 31, 2020, 2019 2018
Research and Development Expense, Policy [Policy Text Block]	Research and development Research and development expenses consist primarily of personnel and outside service costs related to the development of new processes and product lines, enhancements of existing product lines, development of software for internal use, maintenance of internally developed software, quality assurance and testing. Costs for internal use software are evaluated by project and capitalized where appropriate under ASC 350 40, Intangibles - Goodwill and Other, Internal-Use Software December 31, 2020, 2019 2018
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency translation/transactions The Company translated the balance sheets of its foreign subsidiaries at period-end exchange rates and the income statement at the average exchange rates in effect throughout the period. The Company has recorded the translation adjustment as a separate component of consolidated shareholders’ equity. Foreign currency transaction gains and losses are recognized in the consolidated statements of comprehensive income.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently adopted accounting pronouncements During the first 2020, 2016 13, Financial Instruments – Credit Losses no During the first 2019, 2016 02, Leases 842 2018 11, Leases 840, Leases 12 January 1, 2019 Recently issued accounting pronouncements In December 2019, 2019 12, Income Taxes December 15, 2020 not

Note 3 - Revenue (Tables)

Note 3 - Revenue (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Revenue: United States $ 345,708 $ 360,205 $ 350,535 Europe 74,796 82,805 80,889 Japan 13,891 15,718 14,172 Total revenue $ 434,395 $ 458,728 $ 445,596 Year Ended December 31, (in thousands) 2020 2019 2018 Revenue: Injection Molding $ 217,992 $ 217,415 $ 210,523 CNC Machining 131,587 155,473 153,521 3D Printing 62,502 61,352 53,342 Sheet Metal 18,838 21,000 24,998 Other Revenue 3,476 3,488 3,212 Total revenue $ 434,395 $ 458,728 $ 445,596

Note 4 - Net Income Per Commo_2

Note 4 - Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year Ended December 31, (in thousands, except share and per share amounts) 2020 2019 2018 Net Income $ 50,867 $ 63,655 $ 76,588 Basic - weighted-average shares outstanding: 26,737,425 26,866,985 26,982,614 Effect of dilutive securities: Employee stock options and other 158,932 182,438 296,202 Diluted - weighted-average shares outstanding: 26,896,357 27,049,423 27,278,816 Net income per share attributable to common shareholders: Basic $ 1.90 $ 2.37 $ 2.84 Diluted $ 1.89 $ 2.35 $ 2.81

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Goodwill [Table Text Block]	(in thousands) Dec. 31, 2018 Goodwill acquired during 2019 Dec. 31, 2019 Goodwill acquired during 2020 Dec. 31, 2020 United States $ 123,883 $ - $ 123,883 $ - $ 123,883 Europe 4,239 - 4,239 - 4,239 Japan 630 - 630 - 630 Total goodwill $ 128,752 $ - $ 128,752 $ - $ 128,752
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Year Ended December 31, 2020 Year Ended December 31, 2019 Weighted Average Useful Life (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful Life (in years) Remaining (in years) Intangible Assets with finite lives: Marketing assets $930 $(620 ) $310 $930 $(527 ) $403 10.0 3.3 Non-compete agreement 270 (238 ) 32 270 (222 ) 48 2.0 - 5.0 2.3 Software technology 13,229 (3,645 ) 9,584 13,229 (2,275 ) 10,954 10.0 7.3 Customer relationships 10,070 (5,646 ) 4,424 10,070 (4,106 ) 5,964 6.0 - 9.0 2.8 Total intangible assets $ 24,499 $ (10,149 ) $ 14,350 $ 25,829 $ (8,460 ) $ 17,369
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(in thousands) Estimated Amortization Expense 2021 $ 3,016 2022 3,016 2023 2,813 2024 1,400 2025 1,369 Thereafter 2,736 Total estimated amortization expense $ 14,350

Note 6 - Fair Value Measureme_2

Note 6 - Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	December 31, 2020 December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents Money market mutual funds $ 55,378 $ - $ - $ 68,962 $ - $ - Total $ 55,378 $ - $ - $ 68,962 $ - $ -

Note 7 - Marketable Securities

Note 7 - Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Debt Securities, Held-to-maturity [Table Text Block]	December 31, 2020 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 18,500 $ 6 $ (10 ) $ 18,496 Corporate debt securities 42,048 211 (11 ) 42,248 U.S. municipal securities 25,003 83 (2 ) 25,084 Commercial paper 2,499 - - 2,499 Certificates of deposit/time deposits 5,395 93 - 5,488 Total marketable securities $ 93,445 $ 393 $ (23 ) $ 93,815 December 31, 2019 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 6,274 $ 1 $ (7 ) $ 6,268 Corporate debt securities 26,944 80 (12 ) 27,012 U.S. municipal securities 10,204 9 (3 ) 10,210 Commercial paper 3,491 - - 3,491 Certificates of deposit/time deposits 1,484 22 - 1,506 Total marketable securities $ 48,397 $ 112 $ (22 ) $ 48,487
Investments Classified by Contractual Maturity Date [Table Text Block]	December 31, (in thousands) 2020 Due in one year or less $ 34,088 Due after one year through five years 59,357 Total marketable securities $ 93,445

Note 8 - Property and Equipme_2

Note 8 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, (in thousands) 2020 2019 Land $ 14,028 $ 14,098 Buildings and improvements 77,285 75,843 Machinery and equipment 221,301 208,954 Computer hardware and software 79,207 24,953 Leasehold improvements 7,821 7,341 Construction in progress 33,780 54,313 Total 433,422 385,502 Accumulated depreciation and amortization (150,756 ) (121,790 ) Property and equipment, net $ 282,666 $ 263,712

Note 9 - Inventory (Tables)

Note 9 - Inventory (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, (in thousands) 2020 2019 Total inventory 11,122 10,319 Allowance for obsolescence (260 ) (244 ) Inventory, net of allowance $ 10,862 $ 10,075

Note 12 - Stock-based Compens_2

Note 12 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Stock options and other $ 13,327 $ 9,591 $ 10,113 Employee stock purchase plan 1,346 1,190 815 Total stock-based compensation expense $ 14,673 $ 10,781 $ 10,928 Cost of revenue $ 2,451 $ 2,056 $ 1,543 Operating expenses: Marketing and sales 3,121 2,632 1,942 Research and development 2,440 1,851 1,517 General and administrative 6,661 4,242 5,926 Total stock-based compensation expense $ 14,673 $ 10,781 $ 10,928
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year Ended December 31, 2020 2019 2018 Risk-free interest rate 0.50 - 1.47% 2.35 - 2.58% 2.52 - 3.07% Expected life (years) 6.25 6.25 6.25 Expected volatility 42.40 - 43.83% 42.52 - 42.74% 41.68 - 42.22% Expected dividend yield 0% 0% 0% Weighted average grant date fair value $45.32 $47.84 $50.08
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted- Average Stock Options Exercise Price Options outstanding at January 1, 2018 399,055 $ 51.13 Granted 36,600 110.59 Exercised (155,765 ) 38.92 Cancelled (27,274 ) 74.35 Options outstanding at December 31, 2018 252,616 64.71 Granted 53,708 105.81 Exercised (16,079 ) 48.67 Cancelled (13,979 ) 89.50 Options outstanding at December 31, 2019 276,266 72.38 Granted 60,065 105.79 Exercised (68,958 ) 57.00 Cancelled (37,842 ) 67.92 Options outstanding at December 31, 2020 229,531 $ 86.46 Exercisable at December 31, 2020 94,318 $ 69.36
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Options Outstanding, Vested and Expected to Vest Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price ($) Number Exercisable Weighted Average Exercise Price ($) $7.76 to $31.43 5,964 1.35 30.58 5,964 30.58 $31.44 to $66.87 78,482 4.81 57.51 56,032 57.18 $66.88 to $96.20 10,591 4.42 74.05 9,343 71.09 $96.21 to $123.10 134,494 8.45 106.81 22,979 108.41
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted- Average Grant Date Restricted Fair Value Stock Awards Per Share Restricted stock at January 1, 2018 334,831 $ 63.29 Granted 106,855 115.41 Restrictions lapsed (86,191 ) 63.64 Forfeited (31,574 ) 68.67 Restricted stock at December 31, 2018 323,921 79.85 Granted 115,471 106.35 Restrictions lapsed (92,597 ) 77.25 Forfeited (31,822 ) 87.58 Restricted stock at December 31, 2019 314,973 89.55 Granted 108,179 111.76 Restrictions lapsed (101,941 ) 84.70 Forfeited (14,012 ) 94.24 Restricted stock at December 31, 2020 307,199 $ 98.87
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	Weighted- Average Grant Date Performance Fair Value Stock Awards Per Share Performance stock at January 1, 2018 25,707 $ 58.35 Granted 20,006 105.75 Restrictions lapsed - - Performance change 6,427 58.35 Forfeited - - Performance stock at December 31, 2018 52,140 76.54 Granted 21,434 104.99 Restrictions lapsed - - Performance change (61,816 ) 88.06 Forfeited (2,375 ) 105.37 Performance stock at December 31, 2019 9,383 58.35 Granted 19,956 118.66 Restrictions lapsed (7,113 ) 58.35 Performance change - - Forfeited (2,270 ) 58.35 Performance stock at December 31, 2020 19,956 $ 118.66
Schedule of Share-based Payment Award, Awards Other Than Stock Options, Valuation Assumptions [Table Text Block]	Year Ended December 31, 2020 2019 2018 Risk-free interest rate 0.12 - 0.17% 1.59 - 2.35% 2.06 - 2.33% Expected life (months) 6.00 6.00 6.00 Expected volatility 50.85 - 59.99% 42.63 - 53.57% 31.50 - 37.36% Expected dividend yield 0% 0% 0%

Note 13 - Leases (Tables)

Note 13 - Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Assets and Liabilities, Lessee [Table Text Block]	December 31, (in thousands) 2020 2019 Operating lease assets $ 9,855 $ 11,425 Current operating lease liabilities $ 3,272 $ 3,340 Long-term operating lease liabilities 7,586 8,565 Total operating lease liabilities $ 10,858 $ 11,905 Finance lease assets $ 2,396 $ - Current finance lease liabilities $ 552 $ - Long-term finance lease liabilities 1,919 - Total finance lease liabilities $ 2,471 $ -
Schedule of Lease Expense [Table Text Block]	Twelve Months Ended December 31, (in thousands) 2020 2019 Operating lease cost $ 4,191 $ 3,960 Finance lease cost: Amortization of right-of-use assets $ 143 $ - Interest on lease obligations $ 2 $ - Variable lease cost 989 1,039 Total lease cost $ 5,325 $ 4,999 Twelve Months Ended December 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,426 $ 5,020 Operating cash flows from finance leases $ 2 $ - Financing cash flows from finance leases $ 154 $ - Lease assets obtained in exchange for new operating lease liabilities 1,506 1,921 Lease assets obtained in exchange for new financing lease liabilities 2,523 -
Lessee, Lease Liability, Maturity [Table Text Block]	(in thousands) Operating Leases Finance Leases Year Ending December 31, 2021 $ 3,915 $ 561 2022 3,246 561 2023 1,460 1,371 2024 540 - 2025 494 - After 2025 1,751 - Total future minimum lease payments 11,406 2,493 Less interest (548 ) (22 ) Present value of lease liabilities $ 10,858 $ 2,471
Schedule of Lease Terms and Discount Rates [Table Text Block]	December 31, 2020 2019 Weighted Average Remaining Lease Term - operating leases (years) 4.4 4.8 Weighted Average Remaining Lease Term - finance leases (years) 2.5 - Weighted Average Discount Rate - operating leases 2.6 % 2.6 % Weighted Average Discount Rate - finance leases 0.5 % -

Note 14 - Accumulated Other C_2

Note 14 - Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Foreign currency translation adjustments Balance at beginning of period $ (7,018 ) $ (8,492 ) $ (5,234 ) Other comprehensive (loss) income before reclassifications 3,598 1,474 (3,258 ) Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive (loss) income 3,598 1,474 (3,258 ) Balance at end of period $ (3,420 ) $ (7,018 ) $ (8,492 )

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Domestic $ 58,551 $ 74,841 $ 81,893 Foreign 4,394 6,352 9,762 Total $ 62,945 $ 81,193 $ 91,655
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Current: Federal $ 2,128 $ 6,991 $ (782 ) State 1,136 2,882 2,078 Foreign 1,241 1,544 1,810 Deferred Federal 6,904 5,121 11,325 State (431 ) 269 538 Foreign 210 (809 ) (430 ) Valuation Allowance 890 1,540 528 Total $ 12,078 $ 17,538 $ 15,067
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2020 2019 2018 Federal tax statutory rate 21.0 % 21.0 % 21.0 % State tax (net of federal benefit) 2.1 2.1 2.0 Share based compensation (1.3 ) (0.5 ) (2.8 ) Valuation allowance against deferred tax assets 2.0 1.4 0.7 Research and development credit (3.7 ) (2.8 ) (2.5 ) Foreign rate differential (0.8 ) (0.3 ) (0.1 ) Tax reserves 1.4 1.1 (0.1 ) Provision to return difference (1.4 ) - - Miscellaneous (0.1 ) (0.4 ) (0.5 ) Transition tax - - (0.8 ) Revaluation of deferred tax liability - - (0.5 ) Total 19.2 % 21.6 % 16.4 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, (in thousands) 2020 2019 Deferred tax assets: Accrued expenses $ 2,155 $ 1,362 Leases 3,598 3,337 Stock-based compensation 3,356 3,325 Intangible assets 1,693 1,171 Inventories 172 169 Other assets 1,790 1,765 Net operating loss 6,647 6,513 Less valuation allowance (9,138 ) (8,248 ) Total deferred tax assets 10,273 9,394 Deferred tax liabilities: Depreciation (32,671 ) (26,750 ) Goodwill (7,858 ) (5,590 ) Leases (3,598 ) (3,337 ) Total deferred tax liabilities (44,127 ) (35,677 ) Net deferred tax liability $ (33,854 ) $ (26,283 )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	December 31, 2020 2019 Balance at beginning of period $ 4,598 $ 4,096 Additions for tax positions of current year 324 592 Additions for tax positions of prior years 475 - Decrease related to expiration of statutes of limitations (567 ) (90 ) Balance at period end $ 4,830 $ 4,598

Note 17 - Segment Reporting (Ta

Note 17 - Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Income from Operations by Geographic Area [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Income from Operations: United States $ 98,762 $ 108,594 $ 115,710 Europe 11,707 15,077 16,747 Corporate Unallocated and Japan (50,633 ) (43,815 ) (43,557 ) Total income from operations $ 59,836 $ 79,856 $ 88,898
Long-lived Assets by Geographic Areas [Table Text Block]	December 31, December 31, December 31, (in thousands) 2020 2019 2018 Long-lived assets: United States $ 215,721 $ 210,171 $ 185,979 Europe 59,388 45,019 34,577 Japan 7,557 8,522 7,445 Total long-lived assets $ 282,666 $ 263,712 $ 228,001
Expenditures for Additions to Long-lived Assets by Geographic Region [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Expenditures for additions to long-lived assets: United States $ 29,984 $ 45,123 $ 78,762 Europe 16,574 14,743 7,576 Japan 452 2,364 766 Total expenditures for additions to long-lived assets $ 47,010 $ 62,230 $ 87,104
Depreciation and Amortization by Geographic Region [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Depreciation and Amortization: United States $ 25,744 $ 24,767 $ 21,117 Europe 5,024 4,746 4,679 Japan 1,826 1,351 958 Total depreciation and amortization $ 32,594 $ 30,864 $ 26,754
Operating Segments [Member]
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Year Ended December 31, (in thousands) 2020 2019 2018 Revenue: United States $ 345,708 $ 360,205 $ 350,535 Europe 74,796 82,805 80,889 Japan 13,891 15,718 14,172 Total revenue $ 434,395 $ 458,728 $ 445,596

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Capitalized Computer Software, Net, Ending Balance	$ 49,400	$ 32,700	$ 16,700
Goodwill, Impairment Loss	0
Advertising Expense	11,500	13,000	11,800
Research and Development Expense, Total	36,940	32,692	$ 28,735
Operating Lease, Right-of-Use Asset	9,855	11,425
Operating Lease, Liability, Total	$ 10,858	$ 11,905
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 13,100
Building [Member]
Property, Plant and Equipment, Useful Life (Year)	39 years
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Finite-Lived Intangible Asset, Useful Life (Year)	2 years
Minimum [Member] | Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Minimum [Member] | Office Furniture And Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Minimum [Member] | Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Minimum [Member] | Land, Buildings and Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	39 years
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Maximum [Member] | Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Maximum [Member] | Office Furniture And Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Maximum [Member] | Computer Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Maximum [Member] | Land, Buildings and Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	39 years

Note 3 - Revenue - Disaggregati

Note 3 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Revenue	$ 434,395	$ 458,728	$ 445,596
Injection Molding (Protomold) [Member]
Revenue:
Revenue	217,992	217,415	210,523
CNC Machining (Firstcut) [Member]
Revenue:
Revenue	131,587	155,473	153,521
3D Printing (Fineline) [Member]
Revenue:
Revenue	62,502	61,352	53,342
Sheet Metal [Member]
Revenue:
Revenue	18,838	21,000	24,998
Other Products [Member]
Revenue:
Revenue	3,476	3,488	3,212
UNITED STATES
Revenue:
Revenue	345,708	360,205	350,535
Europe [Member]
Revenue:
Revenue	74,796	82,805	80,889
JAPAN
Revenue:
Revenue	$ 13,891	$ 15,718	$ 14,172

Note 4 - Net Income Per Commo_3

Note 4 - Net Income Per Common Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 50,867	$ 63,655	$ 76,588
Basic - weighted-average shares outstanding: (in shares)	26,737,425	26,866,985	26,982,614
Employee stock options and other (in shares)	158,932	182,438	296,202
Diluted - weighted-average shares outstanding: (in shares)	26,896,357	27,049,423	27,278,816
Basic (in dollars per share)	$ 1.90	$ 2.37	$ 2.84
Diluted (in dollars per share)	$ 1.89	$ 2.35	$ 2.81

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amortization of Intangible Assets, Total	$ 3	$ 3.5	$ 3.2

Note 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill, balance as of the beginning of the period	$ 128,752	$ 128,752
Goodwill acquired during the period	0	0
Goodwill, balance as of the end of the period	128,752	128,752
UNITED STATES
Goodwill, balance as of the beginning of the period	123,883	123,883
Goodwill acquired during the period	0	0
Goodwill, balance as of the end of the period	123,883	123,883
Europe [Member]
Goodwill, balance as of the beginning of the period	4,239	4,239
Goodwill acquired during the period	0	0
Goodwill, balance as of the end of the period	4,239	4,239
JAPAN
Goodwill, balance as of the beginning of the period	630	630
Goodwill acquired during the period	0	0
Goodwill, balance as of the end of the period	$ 630	$ 630

Note 5 - Goodwill and Other I_5

Note 5 - Goodwill and Other Intangible Assets - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Gross	$ 24,499	$ 25,829
Accumulated Amortization	(10,149)	(8,460)
Net	$ 14,350	17,369
Minimum [Member]
Useful Life (Year)	2 years
Maximum [Member]
Useful Life (Year)	10 years
Marketing-Related Intangible Assets [Member]
Gross	$ 930	930
Accumulated Amortization	620	527
Net	$ 310	403
Useful Life (Year)	10 years
Weighted average useful life remaining (Year)	3 years 3 months 18 days
Noncompete Agreements [Member]
Gross	$ 270	270
Accumulated Amortization	(238)	(222)
Net	$ 32	48
Weighted average useful life remaining (Year)	2 years 3 months 18 days
Noncompete Agreements [Member] | Minimum [Member]
Useful Life (Year)	2 years
Noncompete Agreements [Member] | Maximum [Member]
Useful Life (Year)	5 years
Computer Software, Intangible Asset [Member]
Gross	$ 13,229	13,229
Accumulated Amortization	(3,645)	(2,275)
Net	$ 9,584	10,954
Useful Life (Year)	10 years
Weighted average useful life remaining (Year)	7 years 3 months 18 days
Customer Relationships [Member]
Gross	$ 10,070	10,070
Accumulated Amortization	(5,646)	(4,106)
Net	$ 4,424	$ 5,964
Weighted average useful life remaining (Year)	2 years 9 months 18 days
Customer Relationships [Member] | Minimum [Member]
Useful Life (Year)	6 years
Customer Relationships [Member] | Maximum [Member]
Useful Life (Year)	9 years

Note 5 - Goodwill and Other I_6

Note 5 - Goodwill and Other Intangible Assets - Estimated Aggregated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021	$ 3,016
2022	3,016
2023	2,813
2024	1,400
2025	1,369
Thereafter	2,736
Total estimated amortization expense	$ 14,350	$ 17,369

Note 6 - Fair Value Measureme_3

Note 6 - Fair Value Measurements - Fair Value of Financial Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 1 [Member]
Money market mutual funds	$ 55,378	$ 68,962
Total	55,378	68,962
Fair Value, Inputs, Level 2 [Member]
Money market mutual funds	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Money market mutual funds	0	0
Total	$ 0	$ 0

Note 7 - Marketable Securitie_2

Note 7 - Marketable Securities - Short-term and Long-term Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost	$ 93,445	$ 48,397
Unrealized Gains	393	112
Unrealized Losses	(23)	(22)
Fair Value	93,815	48,487
Bank Time Deposits [Member]
Amortized Cost	5,395	1,484
Unrealized Gains	93	22
Unrealized Losses	0	0
Fair Value	5,488	1,506
US Government Agencies Debt Securities [Member]
Amortized Cost	18,500	6,274
Unrealized Gains	6	1
Unrealized Losses	(10)	(7)
Fair Value	18,496	6,268
Corporate Debt Securities [Member]
Amortized Cost	42,048	26,944
Unrealized Gains	211	80
Unrealized Losses	(11)	(12)
Fair Value	42,248	27,012
US States and Political Subdivisions Debt Securities [Member]
Amortized Cost	25,003	10,204
Unrealized Gains	83	9
Unrealized Losses	(2)	(3)
Fair Value	25,084	10,210
Commercial Paper, Not Included with Cash and Cash Equivalents [Member]
Amortized Cost	2,499	3,491
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	$ 2,499	$ 3,491

Note 7 - Marketable Securitie_3

Note 7 - Marketable Securities - Balance of Held-to-maturity Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Due in one year or less	$ 34,088
Due after one year through five years	59,357
Total marketable securities	$ 93,445	$ 48,397

Note 8 - Property and Equipme_3

Note 8 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation, Total	$ 29.6	$ 27.4	$ 23.5

Note 8 - Property and Equipme_4

Note 8 - Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Land	$ 14,028	$ 14,098
Buildings and improvements	77,285	75,843
Machinery and equipment	221,301	208,954
Computer hardware and software	79,207	24,953
Leasehold improvements	7,821	7,341
Construction in progress	33,780	54,313
Total	433,422	385,502
Accumulated depreciation and amortization	(150,756)	(121,790)
Property and equipment, net	$ 282,666	$ 263,712	$ 228,001

Note 9 - Inventory - Inventory

Note 9 - Inventory - Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Total inventory	$ 11,122	$ 10,319
Allowance for obsolescence	(260)	(244)
Inventory, net of allowance	$ 10,862	$ 10,075

Note 10 - Financing Obligatio_2

Note 10 - Financing Obligations (Details Textual) $ in Thousands	Dec. 31, 2020USD ($)
Long-term Line of Credit, Total	$ 0

Note 11 - Employee Benefit Pl_2

Note 11 - Employee Benefit Plans (Details Textual) - 401(k) Retirement Plan [Member] $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
UNITED STATES
Minimum Number Of Employee Working Hours Required To Be Eligible To Participate In 401K Plan	20
Minimum Service Period Of Employees To Avail Benefit Under Defined Contribution Benefit Plan (Month)	3 months
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	50.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 3.3	$ 3.1	$ 2.7
Foreign Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0.5	$ 0.3	$ 0.3

Note 12 - Stock-based Compens_3

Note 12 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 5.4	$ 0.9	$ 13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)	6 years 9 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 15.4
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Year)	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 7.9
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 1.8	$ 1.5	$ 1.5
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date	15.00%
Employee Stock Purchase Plan, Offering Period (Month)	6 months
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	42,235	41,615
Employee Stock Purchase Plan, Weighted Average Purchase Price of Shares Purchased (in shares)	85.85	86.70
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	1,126,595
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 4.2
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 7 months 6 days
Share-based Payment Arrangement, Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	4 years
Share-based Payment Arrangement, Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	5 years
Restricted Stock [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 21.2
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 4 months 24 days
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	4 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	5 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1.7
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 1 month 6 days
Percentage of Target Number Capable of Being Earned and Vesting, Lower Limit	0.00%
Percentage of Target Number Capable of Being Earned and Vesting, Upper Limit	150.00%
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Change in Amount	$ 1.6
Long-Term Incentive Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)	10 years

Note 12 - Stock-based Compens_4

Note 12 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allocated share-based compensation expense	$ 14,673	$ 10,781	$ 10,928
Cost of Sales [Member]
Allocated share-based compensation expense	2,451	2,056	1,543
Selling and Marketing Expense [Member]
Allocated share-based compensation expense	3,121	2,632	1,942
Research and Development Expense [Member]
Allocated share-based compensation expense	2,440	1,851	1,517
General and Administrative Expense [Member]
Allocated share-based compensation expense	6,661	4,242	5,926
Stock Options, Restricted Stock, and Other [Member]
Allocated share-based compensation expense	13,327	9,591	10,113
ESPP [Member]
Allocated share-based compensation expense	$ 1,346	$ 1,190	$ 815

Note 12 - Stock-based Compens_5

Note 12 - Stock-based Compensation - Assumptions Used in the Black-Scholes Option Pricing Model (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expected life (Year)	6 years 3 months	6 years 3 months	6 years 3 months
Expected dividend yield	0.00%	0.00%	0.00%
Weighted average grant date fair value (in dollars per share)	$ 45.32	$ 47.84	$ 50.08
Minimum [Member]
Risk-free interest rate	0.50%	2.35%	2.52%
Expected volatility	42.40%	42.52%	41.68%
Maximum [Member]
Risk-free interest rate	1.47%	2.58%	3.07%
Expected volatility	43.83%	42.74%	42.22%

Note 12 - Stock-based Compens_6

Note 12 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options outstanding (in shares)	276,266	252,616	399,055
Options outstanding, weighted-average exercise price (in dollars per share)	$ 72.38	$ 64.71	$ 51.13
Granted (in shares)	60,065	53,708	36,600
Granted, weighted-average exercise price (in dollars per share)	$ 105.79	$ 105.81	$ 110.59
Exercised (in shares)	(68,958)	(16,079)	(155,765)
Exercised, weighted-average exercise price (in dollars per share)	$ 57	$ 48.67	$ 38.92
Cancelled (in shares)	(37,842)	(13,979)	(27,274)
Cancelled, weighted-average exercise price (in dollars per share)	$ 67.92	$ 89.50	$ 74.35
Options outstanding (in shares)	229,531	276,266	252,616
Options outstanding, weighted-average exercise price (in dollars per share)	$ 86.46	$ 72.38	$ 64.71
Options exercisable (in shares)	94,318
Options exercisable, weighted-average exercise price (in dollars per share)	$ 69.36

Note 12 - Stock-based Compens_7

Note 12 - Stock-based Compensation - Information about Stock Options Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Options outstanding, vested and expected to vest, number outstanding (in shares)	229,531	276,266	252,616	399,055
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share)	$ 86.46	$ 72.38	$ 64.71	$ 51.13
Exercise Price Range One [Member]
Range of exercise prices, lower limit (in dollars per share)
Options outstanding, vested and expected to vest, number outstanding (in shares)	5,964
Range of exercise prices, upper limit (in dollars per share)
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year)	1 year 4 months 6 days
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share)	$ 30.58
Options exercisable, number exercisable (in shares)	5,964
Options exercisable, weighted average exercise price (in dollars per share)	$ 30.58
Exercise Price Range Two [Member]
Range of exercise prices, lower limit (in dollars per share)
Options outstanding, vested and expected to vest, number outstanding (in shares)	78,482
Range of exercise prices, upper limit (in dollars per share)
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year)	4 years 9 months 21 days
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share)	$ 57.51
Options exercisable, number exercisable (in shares)	56,032
Options exercisable, weighted average exercise price (in dollars per share)	$ 57.18
Exercise Price Range Three [Member]
Range of exercise prices, lower limit (in dollars per share)
Options outstanding, vested and expected to vest, number outstanding (in shares)	10,591
Range of exercise prices, upper limit (in dollars per share)
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year)	4 years 5 months 1 day
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share)	$ 74.05
Options exercisable, number exercisable (in shares)	9,343
Options exercisable, weighted average exercise price (in dollars per share)	$ 71.09
Exercise Price Range Four [Member]
Range of exercise prices, lower limit (in dollars per share)
Options outstanding, vested and expected to vest, number outstanding (in shares)	134,494
Range of exercise prices, upper limit (in dollars per share)
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year)	8 years 5 months 12 days
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share)	$ 106.81
Options exercisable, number exercisable (in shares)	22,979
Options exercisable, weighted average exercise price (in dollars per share)	$ 108.41

Note 12 - Stock-based Compens_8

Note 12 - Stock-based Compensation - Restricted Stock Options (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted stock (in shares)	314,973	323,921	334,831
Restricted stock, weighted-average grant date fair value (in dollars per share)	$ 89.55	$ 79.85	$ 63.29
Granted (in shares)	108,179	115,471	106,855
Granted, weighted-average grant date fair value (in dollars per share)	$ 111.76	$ 106.35	$ 115.41
Restrictions lapsed (in shares)	(101,941)	(92,597)	(86,191)
Restrictions lapsed, weighted-average grant date fair value (in dollars per share)	$ 84.70	$ 77.25	$ 63.64
Forfeited (in shares)	(14,012)	(31,822)	(31,574)
Forfeited, weighted-average grant date fair value (in dollars per share)	$ 94.24	$ 87.58	$ 68.67
Restricted stock (in shares)	307,199	314,973	323,921
Restricted stock, weighted-average grant date fair value (in dollars per share)	$ 98.87	$ 89.55	$ 79.85

Note 12 - Stock-based Compens_9

Note 12 - Stock-based Compensation - Performance Stock (Details) - Performance Shares [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Performance stock (in shares)	9,383	52,140	25,707
Restricted stock, weighted-average grant date fair value (in dollars per share)	$ 58.35	$ 76.54	$ 58.35
Granted (in shares)	19,956	21,434	20,006
Granted, weighted-average grant date fair value (in dollars per share)	$ 118.66	$ 104.99	$ 105.75
Restrictions lapsed (in shares)	(7,113)	0	0
Restrictions lapsed, weighted-average grant date fair value (in dollars per share)	$ 58.35	$ 0	$ 0
Performance change (in shares)	0	(61,816)	6,427
Performance change, weighted-average grant date fair value (in dollars per share)	$ 0	$ 88.06	$ 58.35
Forfeited (in shares)	(2,270)	(2,375)	0
Forfeited, weighted-average grant date fair value (in dollars per share)	$ 58.35	$ 105.37	$ 0
Granted (in shares)	19,956	21,434	20,006
Restrictions lapsed (in shares)	7,113	0	0
Performance change, weighted-average grant date fair value (in dollars per share)	$ 0	$ 88.06	$ 58.35
Forfeited (in shares)	(2,270)	(2,375)	0
Restrictions lapsed (in shares)	(7,113)	0	0
Performance stock (in shares)	19,956	9,383	52,140
Restricted stock, weighted-average grant date fair value (in dollars per share)	$ 118.66	$ 58.35	$ 76.54

Note 12 - Stock-based Compen_10

Note 12 - Stock-based Compensation - Assumptions Used in the Valuation of Performance Stock (Details) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expected life (Year)	6 years	6 years	6 years
Expected dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Risk-free interest rate	0.12%	1.59%	2.06%
Expected volatility	50.85%	42.63%	31.50%
Maximum [Member]
Risk-free interest rate	0.17%	2.35%	2.33%
Expected volatility	59.99%	53.57%	37.36%

Note 13 - Leases (Details Textu

Note 13 - Leases (Details Textual) - Office Space, Manufacturing Facilities, and Certain Company Vehicles and Equipment [Member]	Dec. 31, 2020
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	8 years

Note 13 - Leases - Balance Shee

Note 13 - Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating lease assets	$ 9,855	$ 11,425
Current operating lease liabilities	3,272	3,340
Long-term operating lease liabilities	7,586	8,565
Total operating lease liabilities	10,858	11,905
Finance lease assets	2,396	0
Current finance lease liabilities	552	0
Long-term finance lease liabilities	1,919	0
Total finance lease liabilities	$ 2,471	$ 0

Note 13 - Leases - Lease Expens

Note 13 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating lease cost	$ 4,191	$ 3,960
Amortization of right-of-use assets	143	0
Interest on lease obligations	2	0
Variable lease cost	989	1,039
Total lease cost	5,325	4,999
Operating cash flows from operating leases	4,426	5,020
Operating cash flows from finance leases	2	0
Financing cash flows from finance leases	154	0	$ 0
Lease assets obtained in exchange for new operating lease liabilities	1,506	1,921
Lease assets obtained in exchange for new financing lease liabilities	$ 2,523	$ 0

Note 13 - Leases - Maturities o

Note 13 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
2021, operating lease	$ 3,915
2021, finance lease	561
2022, operating lease	3,246
2022, finance lease	561
2023, operating lease	1,460
2023, finance lease	1,371
2024, operating lease	540
2024, finance lease	0
2025, operating lease	494
2025, finance lease	0
After 2025, operating lease	1,751
After 2025, finance lease	0
Total future minimum lease payments, operating lease	11,406
Total future minimum lease payments, finance lease	2,493
Less interest, operating lease	(548)
Less interest, finance lease	(22)
Present value of lease liabilities, operating lease	10,858	$ 11,905
Present value of lease liabilities	$ 2,471	$ 0

Note 13 - Leases - Weighted Ave

Note 13 - Leases - Weighted Average Remaining Terms and Discount Rates (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Remaining Lease Term - operating leases (years) (Year)	4 years 4 months 24 days	4 years 9 months 18 days
Weighted Average Remaining Lease Term - finance leases (years) (Year)	2 years 6 months
Weighted Average Discount Rate - operating leases	2.60%	2.60%
Weighted Average Discount Rate - finance leases	0.50%	0.00%

Note 14 - Accumulated Other C_3

Note 14 - Accumulated Other Comprehensive Loss - Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Balance	$ 585,790	$ 541,497	$ 461,215
Balance	644,356	585,790	541,497
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(7,018)	(8,492)	(5,234)
Other comprehensive (loss) income before reclassifications	3,598	1,474	(3,258)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Net current-period other comprehensive (loss) income	3,598	1,474	(3,258)
Balance	$ (3,420)	$ (7,018)	$ (8,492)

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 22, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Expense (Benefit), Total		$ 12,078	$ 17,538	$ 15,067
Effective Income Tax Rate Reconciliation, Percent, Total		19.20%	21.60%	16.40%
Effective Income Tax Rate Continuing Operations Increase (Decrease) During the Period		2.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	21.00%	21.00%	21.00%
Increase (Decrease) in Income Taxes Payable, CARES Act		$ (2,900)
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries		0
Undistributed Earnings of Foreign Subsidiaries		15,800
Operating Loss Carryforwards, Total		$ 6,600
Operating Loss Carryforwards, Expiration Period (Year)		10 years
Operating Loss Carryforwards, Percentage of Taxable Income		60.00%
Deferred Tax Assets, Valuation Allowance, Total		$ 9,138	$ 8,248
Unrecognized Tax Benefits, Ending Balance		4,830	$ 4,598	$ 4,096
Deferred Tax Liability, CARES Act		$ 2,900

Note 15 - Income Taxes - Compon

Note 15 - Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Domestic	$ 58,551	$ 74,841	$ 81,893
Foreign	4,394	6,352	9,762
Income before income taxes	$ 62,945	$ 81,193	$ 91,655

Note 15 - Income Taxes - Signif

Note 15 - Income Taxes - Significant Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 2,128	$ 6,991	$ (782)
State	1,136	2,882	2,078
Foreign	1,241	1,544	1,810
Deferred
Federal	6,904	5,121	11,325
State	(431)	269	538
Foreign	210	(809)	(430)
Valuation Allowance	890	1,540	528
Total	$ 12,078	$ 17,538	$ 15,067

Note 15 - Income Taxes - Reconc

Note 15 - Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Details)	Dec. 22, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal tax statutory rate	35.00%	21.00%	21.00%	21.00%
State tax (net of federal benefit)		2.10%	2.10%	2.00%
Share based compensation		(1.30%)	(0.50%)	(2.80%)
Valuation allowance against deferred tax assets		2.00%	1.40%	0.70%
Research and development credit		(3.70%)	(2.80%)	(2.50%)
Foreign rate differential		(0.80%)	(0.30%)	(0.10%)
Tax reserves		1.40%	1.10%	(0.10%)
Provision to return difference		(1.40%)	0.00%	0.00%
Miscellaneous		(0.10%)	(0.40%)	(0.50%)
Transition tax		0.00%	0.00%	(0.80%)
Revaluation of deferred tax liability		0.00%	0.00%	(0.50%)
Total		19.20%	21.60%	16.40%

Note 15 - Income Taxes - Sign_2

Note 15 - Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrued expenses	$ 2,155	$ 1,362
Leases	3,598	3,337
Stock-based compensation	3,356	3,325
Intangible assets	1,693	1,171
Inventories	172	169
Other assets	1,790	1,765
Net operating loss	6,647	6,513
Less valuation allowance	(9,138)	(8,248)
Total deferred tax assets	10,273	9,394
Deferred tax liabilities:
Depreciation	(32,671)	(26,750)
Goodwill	(7,858)	(5,590)
Leases	(3,598)	(3,337)
Total deferred tax liabilities	(44,127)	(35,677)
Net deferred tax liability	$ (33,854)	$ (26,283)

Note 15 - Income Taxes - Reco_2

Note 15 - Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance	$ 4,598	$ 4,096
Additions for tax positions of current year	324	592
Additions for tax positions of prior years	475	0
Decrease related to expiration of statutes of limitations	(567)	(90)
Balance	$ 4,830	$ 4,598

Note 17 - Segment Reporting - R

Note 17 - Segment Reporting - Revenue From Operations by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 434,395	$ 458,728	$ 445,596
Operating Segments [Member]
Revenue	434,395	458,728	445,596
Operating Segments [Member] | United States Segment [Member]
Revenue	345,708	360,205	350,535
Operating Segments [Member] | Europe Segment [Member]
Revenue	74,796	82,805	80,889
Operating Segments [Member] | Japan Segment [Member]
Revenue	$ 13,891	$ 15,718	$ 14,172

Note 17 - Segment Reporting - I

Note 17 - Segment Reporting - Income From Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income from operations	$ 59,836	$ 79,856	$ 88,898
Operating Segments [Member] | United States Segment [Member]
Income from operations	98,762	108,594	115,710
Operating Segments [Member] | Europe Segment [Member]
Income from operations	11,707	15,077	16,747
Operating Segments [Member] | Corporate Unallocated and Japan Segment[Member]
Income from operations	$ (50,633)	$ (43,815)	$ (43,557)

Note 17 - Segment Reporting - L

Note 17 - Segment Reporting - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-lived assets	$ 282,666	$ 263,712	$ 228,001
Operating Segments [Member] | United States Segment [Member]
Long-lived assets	215,721	210,171	185,979
Operating Segments [Member] | Europe Segment [Member]
Long-lived assets	59,388	45,019	34,577
Operating Segments [Member] | Japan Segment [Member]
Long-lived assets	$ 7,557	$ 8,522	$ 7,445

Note 17 - Segment Reporting - E

Note 17 - Segment Reporting - Expenditures for Additions to Long-lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expenditures for additions to long-lived assets	$ 47,010	$ 62,230	$ 87,104
UNITED STATES
Expenditures for additions to long-lived assets	29,984	45,123	78,762
Europe [Member]
Expenditures for additions to long-lived assets	16,574	14,743	7,576
JAPAN
Expenditures for additions to long-lived assets	$ 452	$ 2,364	$ 766

Note 17 - Segment Reporting - D

Note 17 - Segment Reporting - Depreciation and Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation and amortization	$ 32,594	$ 30,864	$ 26,754
UNITED STATES
Depreciation and amortization	25,744	24,767	21,117
Europe [Member]
Depreciation and amortization	5,024	4,746	4,679
JAPAN
Depreciation and amortization	$ 1,826	$ 1,351	$ 958

Note 18 - Subsequent Events (De

Note 18 - Subsequent Events (Details Textual) - Acquired 3D Hubs [Member] - USD ($) $ in Millions	Jan. 22, 2021	Dec. 31, 2021
Forecast [Member] | Maximum [Member]
Payments to Acquire Businesses, Gross		$ 25
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)		143,983
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 27.8
Subsequent Event [Member]
Business Combination, Consideration Transferred, Total	$ 294.4
Payments to Acquire Businesses, Gross	$ 127.7
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	863,995
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 166.7
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 52.8