Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 09, 2022 | Jun. 30, 2021 | |
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 | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
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 | $ 2,500,000,000 | ||
Entity Common Stock, Shares Outstanding | 27,466,902 | ||
Auditor Name | Ernst & Young LLP | ||
Auditor Location | Minneapolis, Minnesota | ||
Auditor Firm ID | 42 | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | $ 65,929 | $ 127,603 |
Short-term marketable securities | 11,580 | 34,088 |
Accounts receivable, net of allowance for doubtful accounts of $1,948 and $1,781 as of December 31, 2021 and December 31, 2020, respectively | 80,051 | 57,877 |
Inventory | 13,161 | 10,862 |
Prepaid expenses and other current assets | 11,450 | 11,032 |
Income taxes receivable | 1,321 | 540 |
Total current assets | 183,492 | 242,002 |
Property and equipment, net | 280,346 | 282,666 |
Goodwill | 400,610 | 128,752 |
Other intangible assets, net | 37,998 | 14,350 |
Long-term marketable securities | 14,340 | 59,357 |
Operating lease assets | 5,578 | 9,855 |
Finance lease assets | 1,898 | 2,396 |
Other long-term assets | 4,320 | 4,826 |
Total assets | 928,582 | 744,204 |
Current liabilities | ||
Accounts payable | 25,364 | 18,248 |
Accrued compensation | 13,704 | 11,989 |
Accrued liabilities and other | 11,980 | 16,193 |
Current operating lease liabilities | 3,298 | 3,272 |
Current finance lease liabilities | 550 | 552 |
Total current liabilities | 54,896 | 50,254 |
Long-term operating lease liabilities | 2,245 | 7,586 |
Long-term finance lease liabilities | 1,351 | 1,919 |
Long-term deferred tax liabilities | 35,892 | 33,854 |
Other long-term liabilities | 5,705 | 6,235 |
Total liabilities | 100,089 | 99,848 |
Shareholders' equity | ||
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of December 31, 2021 and December 31, 2020, respectively | 0 | 0 |
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 27,465,945 and 26,776,796 shares as of December 31, 2021 and December 31, 2020, respectively | 28 | 27 |
Additional paid-in capital | 468,548 | 284,848 |
Retained earnings | 376,734 | 362,901 |
Accumulated other comprehensive loss | (16,817) | (3,420) |
Total shareholders' equity | 828,493 | 644,356 |
Total liabilities and shareholders' equity | $ 928,582 | $ 744,204 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Allowance for doubtful accounts | $ 1,948 | $ 1,781 |
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) | 27,465,945 | 26,776,796 |
Common stock, shares outstanding (in shares) | 27,465,945 | 26,776,796 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statements of Operations: | |||
Revenue | $ 488,098 | $ 434,395 | $ 458,728 |
Cost of revenue | 265,407 | 216,568 | 223,438 |
Gross profit | 222,691 | 217,827 | 235,290 |
Operating expenses | |||
Marketing and sales | 82,175 | 69,309 | 72,976 |
Research and development | 44,241 | 36,940 | 32,692 |
General and administrative | 55,933 | 51,742 | 49,766 |
Total operating expenses | 182,349 | 157,991 | 155,434 |
Income from operations | 40,342 | 59,836 | 79,856 |
Other (expense) income, net | (158) | 3,109 | 1,337 |
Income before income taxes | 40,184 | 62,945 | 81,193 |
Provision for income taxes | 6,812 | 12,078 | 17,538 |
Net income | $ 33,372 | $ 50,867 | $ 63,655 |
Net income per share: | |||
Basic (in dollars per share) | $ 1.21 | $ 1.90 | $ 2.37 |
Diluted (in dollars per share) | $ 1.21 | $ 1.89 | $ 2.35 |
Shares used to compute net income per share: | |||
Basic (in shares) | 27,617,627 | 26,737,425 | 26,866,985 |
Diluted (in shares) | 27,653,099 | 26,896,357 | 27,049,423 |
Other Comprehensive Income (Loss), net of tax | |||
Foreign currency translation adjustments | $ (13,278) | $ 3,598 | $ 1,474 |
Net unrealized gains (losses) on investments in securities | (119) | 0 | 0 |
Comprehensive income | $ 19,975 | $ 54,465 | $ 65,129 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 26,984,747 | ||||
Balance at beginning of period at Dec. 31, 2018 | $ 27 | $ 258,502 | $ 291,460 | $ (8,492) | $ 541,497 |
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares) | 128,174 | ||||
Common shares issued on exercise of options and other, net of shares withheld for tax obligations | 1,904 | 1,904 | |||
Stock-based compensation expense | 10,781 | 10,781 | |||
Repurchases of Common Stock (in shares) | (326,462) | ||||
Net income | 63,655 | 63,655 | |||
Foreign currency translation adjustment | 1,474 | 1,474 | |||
Comprehensive income (loss) | 65,129 | ||||
Foreign currency translation adjustments | 1,474 | 1,474 | |||
Net unrealized gains (losses) on investments in securities | 0 | ||||
Balance (in shares) at Dec. 31, 2019 | 26,786,459 | ||||
Balance at end of period at Dec. 31, 2019 | $ 27 | 268,059 | 324,722 | (7,018) | 585,790 |
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares) | 189,951 | ||||
Common shares issued on exercise of options and other, net of shares withheld for tax obligations | 4,114 | 4,114 | |||
Stock-based compensation expense | 14,673 | 14,673 | |||
Repurchases of Common Stock (in shares) | (199,614) | ||||
Net income | 50,867 | 50,867 | |||
Foreign currency translation adjustment | 3,598 | 3,598 | |||
Comprehensive income (loss) | 54,465 | ||||
Repurchases of Common Stock | (1,998) | (12,688) | (14,686) | ||
Foreign currency translation adjustments | 3,598 | 3,598 | |||
Net unrealized gains (losses) on investments in securities | $ 0 | ||||
Balance (in shares) at Dec. 31, 2020 | 26,776,796 | 26,776,796 | |||
Balance at end of period at Dec. 31, 2020 | $ 27 | 284,848 | 362,901 | (3,420) | $ 644,356 |
Common shares issued on exercise of options and other, net of shares withheld for tax obligations | $ 0 | 1,637 | 0 | 0 | 1,637 |
Stock-based compensation expense | 19,095 | 19,095 | |||
Repurchases of Common Stock (in shares) | (351,582) | ||||
Net income | 33,372 | 33,372 | |||
Foreign currency translation adjustment | (13,278) | (13,278) | |||
Comprehensive income (loss) | 19,975 | ||||
Repurchases of Common Stock | (3,740) | (19,539) | (23,279) | ||
Common shares issued for Hubs acquisition (in shares) | 863,995 | ||||
Common shares issued for Hubs acquisition | $ 1 | 166,708 | 166,709 | ||
Foreign currency translation adjustments | (13,278) | (13,278) | |||
Net unrealized gains (losses) on investments in securities | (119) | $ (119) | |||
Balance (in shares) at Dec. 31, 2021 | 27,465,945 | 27,465,945 | |||
Balance at end of period at Dec. 31, 2021 | $ 28 | $ 468,548 | $ 376,734 | $ (16,817) | $ 828,493 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating activities | |||
Net income | $ 33,372 | $ 50,867 | $ 63,655 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 40,488 | 32,594 | 30,864 |
Stock-based compensation expense | 19,095 | 14,673 | 10,781 |
Deferred taxes | 339 | 7,577 | 6,106 |
Amortization of marketable securities | 0 | 415 | 5 |
Realized loss on available-sale-securities | 567 | 0 | 0 |
Changes in fair value of contingent consideration | (13,253) | 0 | 0 |
Other | 275 | (336) | 391 |
Changes in operating assets and liabilities, net of acquisitions: | |||
Accounts receivable | (20,112) | (91) | 1,848 |
Inventories | (2,390) | (662) | 60 |
Prepaid expenses and other | 64 | (1,680) | 545 |
Income taxes | (774) | (1,960) | 6,555 |
Accounts payable | 4,654 | 1,492 | (719) |
Accrued liabilities and other | (7,083) | 4,080 | (4,039) |
Net cash provided by operating activities | 55,242 | 106,969 | 116,052 |
Investing activities | |||
Purchases of property, equipment and other capital assets | (34,209) | (47,010) | (62,230) |
Cash used for acquisitions, net of cash acquired | (127,413) | 0 | 0 |
Purchases of other assets and investments | 0 | (3,000) | (4,000) |
Purchases of marketable securities | (16,159) | (113,200) | (46,403) |
Proceeds from sales of marketable securities | 64,913 | 0 | 0 |
Proceeds from maturities of marketable securities | 18,204 | 67,737 | 68,330 |
Net cash used in investing activities | (94,664) | (95,473) | (44,303) |
Financing activities | |||
Proceeds from exercises of stock options | 5,862 | 7,557 | 4,391 |
Purchases of shares withheld for tax obligations | (4,225) | (3,443) | (2,487) |
Repurchases of common stock | (23,279) | (14,686) | (33,521) |
Principal repayments of finance lease obligations | (552) | (154) | 0 |
Other | 4 | 0 | 0 |
Net cash used in financing activities | (22,198) | (10,726) | (31,617) |
Effect of exchange rate changes on cash and cash equivalents | (54) | 1,608 | 47 |
Net (decrease) increase in cash and cash equivalents | (61,674) | 2,378 | 40,179 |
Cash and cash equivalents, beginning of period | 127,603 | 125,225 | 85,046 |
Cash and cash equivalents, end of period | 65,929 | 127,603 | 125,225 |
Supplemental cash flow disclosure | |||
Cash paid for interest | 28 | 23 | 14 |
Cash paid for taxes | $ 7,583 | $ 5,650 | $ 4,002 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 12 Months Ended |
Dec. 31, 2021 | |
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 a digital manufacturer of custom prototypes and on-demand production parts. The Company utilizes injection molding, computer numerical control (CNC) machining, 3D three 3D 2021, Name Location PL-US International LLC United States Hubs Manufacturing Inc. United States 3D 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 3D Netherlands Proto Labs, G.K. Japan |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
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, foreign currency translation adjustments and net unrealized gains and losses on investments in securities. 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 As of December 31, 2021, first 2021, three As of December 31, 2020, 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 standard 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, 2021 2020 Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles—Goodwill and Other not Goodwill is tested for impairment annually at the beginning of the fourth may 2021, 2021 may 2021 16 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 for its internal and outsourced manufacturing operations 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 not The Company has operating leases for office space, manufacturing facilities and certain company vehicles and equipment and finance leases for certain company equipment. The leases have remaining lease terms of one eight 12 not may December 31, 2021 not 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 $11.6 million, $11.5 million and $13.0 million for the years ended December 31, 2021, 2020 2019 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, 2021, 2020 2019 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 In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 2019 12 2019 12 December 15, 2020, 2019 12 January 1, 2021 no |
Note 3 - Revenue
Note 3 - Revenue | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021, 2020 2019 Year Ended December 31, (in thousands) 2021 2020 2019 Revenue: United States $ 384,458 $ 345,708 $ 360,205 Europe 90,399 74,796 82,805 Japan 13,241 13,891 15,718 Total revenue $ 488,098 $ 434,395 $ 458,728 Revenue by product line for the years ended December 31, 2021, 2020 2019 Year Ended December 31, (in thousands) 2021 2020 2019 Revenue: Injection Molding $ 226,117 $ 217,992 $ 217,415 CNC Machining 166,811 131,587 155,473 3D Printing 72,721 62,502 61,352 Sheet Metal 20,397 18,838 21,000 Other Revenue 2,052 3,476 3,488 Total revenue $ 488,098 $ 434,395 $ 458,728 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, 2021 | |
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. For the year ended December 31, 2021, 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) 2021 2020 2019 Net Income $ 33,372 $ 50,867 $ 63,655 Basic - weighted-average shares outstanding: 27,617,627 26,737,425 26,866,985 Effect of dilutive securities: Employee stock options and other 35,472 158,932 182,438 Diluted - weighted-average shares outstanding: 27,653,099 26,896,357 27,049,423 Net income per share attributable to common shareholders: Basic $ 1.21 $ 1.90 $ 2.37 Diluted $ 1.21 $ 1.89 $ 2.35 |
Note 5 - Business Combinations
Note 5 - Business Combinations | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 5 Business Combinations On January 22, 2021, 3D 2021 2022. Hubs is based in Amsterdam, Netherlands and is a leading online manufacturing platform that provides customers with on-demand access to a global network of premium manufacturing partners. The acquisition enhances the Company’s value proposition by expanding the customer offerings, enabling the Company to more holistically serve its customers. The fair value of the consideration paid for this acquisition has been allocated to the assets purchased and liabilities assumed based on their fair values as of the acquisition date, with any excess recorded as goodwill. The goodwill associated with the acquisition represents both the strategic and growth opportunities by significantly expanding the customer offering with a network of premium manufacturing partners. The goodwill related to the acquisition is not The Company recorded a contingent consideration liability of $13.6 million as of the acquisition date representing the estimated fair value of the amounts payable to former shareholders, as outlined under the terms of the merger agreement, payable subject to the satisfaction of performance-based targets during fiscal year 2021 2022, 3 December 31, 2021, not 2021 not 2022. The results of Hubs since the date of acquisition have been included within the Company's results. Pro forma disclosures of the consolidated results of the Company with the full year effects of Hubs, as if the acquisition had occurred on January 1, 2020, not not not The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations 2021 (in thousands) Assets acquired: Current assets $ 2,497 Intangible assets 30,770 Goodwill 280,925 Other long-term assets 1,139 Total assets acquired 315,331 Liabilities assumed: Current contingent consideration 7,093 Current liabilities 5,666 Long-term contingent consideration 6,507 Long-term deferred tax liabilities 1,688 Other long-term liabilities 255 Total liabilities assumed 21,209 Net assets acquired $ 294,122 Cash paid $ 133,847 Cash acquired (6,434 ) Net cash consideration 127,413 Equity portion of purchase price 166,709 Total purchase consideration $ 294,122 |
Note 6 - Goodwill and Other Int
Note 6 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6 The changes in the carrying amount of goodwill for the years ended December 31, 2021 2020 (in thousands) Dec. 31, 2019 Goodwill acquired during 2020 Dec. 31, 2020 Goodwill acquired during 2021 Foreign currency translation adjustments during 2021 Dec. 31, 2021 United States $ 123,883 $ - $ 123,883 $ 151,276 $ - $ 275,159 Europe 4,239 - 4,239 129,649 (9,067 ) 124,821 Japan 630 - 630 - - 630 Total goodwill $ 128,752 $ - $ 128,752 $ 280,925 $ (9,067 ) $ 400,610 Goodwill increased $280.9 million for the year ended December 31, 2021 €106.5 Intangible assets other than goodwill for the years ended December 31, 2021 2020 Year Ended December 31, 2021 Year Ended December 31, 2020 Weighted Average Useful Life (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful Life (in years) Remaining (in years) Marketing assets $ 930 $ (713 ) $ 217 $ 930 $ (620 ) $ 310 10.0 2.3 Non-compete agreement 842 (363 ) 479 270 (238 ) 32 2.0 - 5.0 2.9 Software technology 13,229 (5,014 ) 8,215 13,229 (3,645 ) 9,584 10.0 6.5 Software platform 26,725 (2,262 ) 24,463 - - - 12.0 11.1 Tradenames 359 (114 ) 245 - - - 3.0 2.1 Customer relationships 12,252 (7,873 ) 4,379 10,070 (5,646 ) 4,424 3.0 - 9.0 1.8 Total intangible assets $ 54,337 $ (16,339 ) $ 37,998 $ 24,499 $ (10,149 ) $ 14,350 Amortization expense for intangible assets for the years ended December 31, 2021, 2020 2019 December 31, 2021, December 31, 2020 2019. Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows: (in thousands) Estimated Amortization Expense 2022 $ 6,172 2023 5,968 2024 3,790 2025 3,690 2026 3,586 Thereafter 14,792 Total estimated amortization expense $ 37,998 |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 7 ASC 820, Fair Value Measuremen 820 820 three may Level 1—Quoted Level 2—Observable 1 not Level 3—Unobservable no The Company's assets and liabilities that are required to be measured or disclosed at fair value on a recurring basis include cash and cash equivalents and marketable securities. The Company’s cash consists of bank deposits. The Company’s cash equivalents measured at fair value consist of money market mutual funds. The Company determines the fair value of these investments using Level 1 1 2 3 December 31, 2021. The following tables summarizes financial assets as of December 31, 2021 2020 December 31, 2021 December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 65,637 $ - $ - $ 72,225 $ - $ - Money market mutual fund 292 - - 55,378 - - Marketable securities 7,602 18,318 - - - - Total $ 73,531 $ 18,318 $ - $ 127,603 $ - $ - |
Note 8 - Marketable Securities
Note 8 - Marketable Securities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Investment [Text Block] | Note 8 The Company invests in short-term and long-term agency, municipal, corporate and other debt securities. As of December 31, 2021, December 31, 2020, first 2021 not Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2021 2020 December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 2,500 $ - $ (12 ) $ 2,488 Corporate debt securities 9,303 - (44 ) 9,259 U.S. municipal securities 12,549 - (70 ) 12,479 Commercial paper - - - - Certificates of deposit/time deposits 1,687 7 - 1,694 Total marketable securities $ 26,039 $ 7 $ (126 ) $ 25,920 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 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, 2021 may may December 31, (in thousands) 2021 Due in one year or less $ 11,580 Due after one year through five years 14,340 Total marketable securities $ 25,920 |
Note 9 - Property and Equipment
Note 9 - Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 9 Property and equipment consists of the following: December 31, (in thousands) 2021 2020 Land $ 15,009 $ 14,028 Buildings and improvements 107,241 77,285 Machinery and equipment 234,900 221,301 Computer hardware and software 81,889 79,207 Leasehold improvements 8,373 7,821 Construction in progress 14,489 33,780 Total 461,901 433,422 Accumulated depreciation and amortization (181,555 ) (150,756 ) Property and equipment, net $ 280,346 $ 282,666 Depreciation expense for the years ended December 31, 2021, 2020 2019 |
Note 10 - Inventory
Note 10 - Inventory | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 10 Inventory consists primarily of raw materials, which are recorded at the lower of cost or market using the standard cost method, which approximates first first The Company’s inventory consists of the following: December 31, (in thousands) 2021 2020 Total inventory 13,474 11,122 Allowance for obsolescence (313 ) (260 ) Inventory, net of allowance $ 13,161 $ 10,862 |
Note 11 - Financing Obligations
Note 11 - Financing Obligations | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 11 The Company had no financing obligations as of December 31, 2021 2020 |
Note 12 - Employee Benefit Plan
Note 12 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 12 The Company maintains a 401 three may may may December 31, 2021, 2020 2019, The Company also sponsors a defined contribution retirement plan that covers the employees in the United Kingdom. Total employer contributions were approximately $0.4 million, $0.5 million and $0.3 million for the years ended December 31, 2021, 2020 2019, |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 13 The Company has two 2000 2000 2012 2012 2012 February 12, 2012, not 2000 2012 No 2000 2012 2012 ten may 2012 may not The Company’s 2012 six first 718 Employees purchased 67,729 and 42,235 shares of common stock under the ESPP at an average exercise price of $61.96 and $85.85 during 2021 2020 December 31, 2021 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, 2021, 2020 2019 Year Ended December 31, (in thousands) 2021 2020 2019 Stock options and other $ 17,553 $ 13,327 $ 9,591 Employee stock purchase plan 1,542 1,346 1,190 Total stock-based compensation expense $ 19,095 $ 14,673 $ 10,781 Cost of revenue $ 2,595 $ 2,451 $ 2,056 Operating expenses: Marketing and sales 3,736 3,121 2,632 Research and development 2,833 2,440 1,851 General and administrative 9,931 6,661 4,242 Total stock-based compensation expense $ 19,095 $ 14,673 $ 10,781 Stock Options The following table provides the assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.80 - 1.12% 0.50 - 1.47% 2.35 - 2.58% Expected life (years) 6.25 6.25 6.25 Expected volatility 45.28 - 45.53% 42.40 - 43.83% 42.52 - 42.74% Expected dividend yield 0% 0% 0% Weighted average grant date fair value $128.14 $45.32 $47.84 The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2021, 2020 2019 Weighted- Average Stock Options Exercise Price Options outstanding at January 1, 2019 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 Granted 57,901 128.14 Exercised (28,991 ) 58.78 Cancelled (25,057 ) 109.31 Options outstanding at December 31, 2021 233,384 $ 97.78 Exercisable at December 31, 2021 115,700 $ 81.30 The outstanding options have a term of 10 years. For employees, options that have been granted become exercisable ratably over the vesting period, which is generally a four five first first The total intrinsic value of options exercised during the years ended December 31, 2021, 2020 2019 For options outstanding at December 31, 2021 December 31, 2021 The following table summarizes information about stock options outstanding at December 31, 2021 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 4,624 0.35 30.58 4,624 30.58 $31.44 to $66.87 50,159 3.58 57.13 45,986 57.02 $66.88 to $96.20 41,586 7.82 89.95 9,570 71.68 $96.21 to $180.46 137,015 7.67 117.31 55,520 107.28 The fair value of share-based payment transactions is recognized in the Consolidated Statements of Comprehensive Income. As of December 31, 2021 December 31, 2021, 2020 2019 Restricted Stock The 2012 three five first first The following table summarizes restricted stock activity for the years ended December 31, 2021, 2020 2019 Weighted- Average Grant Date Restricted Fair Value Stock Awards Per Share Restricted stock at January 1, 2019 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 Granted 205,996 123.61 Restrictions lapsed (115,908 ) 91.26 Forfeited (53,505 ) 128.05 Restricted stock at December 31, 2021 343,782 $ 111.79 As of December 31, 2021 Performance Stock Performance stock units (PSUs) are expressed in terms of a target number of PSUs, with anywhere between 0 three 2017 2019 2021 2020 2021 The following table summarizes performance stock activity for the years ended December 31, 2021, 2020 2019 Weighted- Average Grant Date Performance Fair Value Stock Awards Per Share Performance stock at January 1, 2019 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 Granted 15,078 203.64 Restrictions lapsed - - Performance change (10,366 ) 192.95 Forfeited (7,829 ) 113.91 Performance stock at December 31, 2021 16,839 $ 115.56 As of December 31, 2021 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, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.06 - 0.17% 0.12 - 0.17% 1.59 - 2.35% Expected life (months) 6.00 6.00 6.00 Expected volatility 53.44 - 65.53% 50.85 - 59.99% 42.63 - 53.57% Expected dividend yield 0% 0% 0% |
Note 14 - Leases
Note 14 - Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases and Financing Leases [Text Block] | Note 14 Supplemental balance sheet information related to leases was as follows: December 31, (in thousands) 2021 2020 Operating lease assets $ 5,578 $ 9,855 Current operating lease liabilities $ 3,298 $ 3,272 Long-term operating lease liabilities 2,245 7,586 Total operating lease liabilities $ 5,543 $ 10,858 Finance lease assets $ 1,898 $ 2,396 Current finance lease liabilities $ 550 $ 552 Long-term finance lease liabilities 1,351 1,919 Total finance lease liabilities $ 1,901 $ 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) 2021 2020 Operating lease cost $ 3,391 $ 4,191 Finance lease cost: Amortization of right-of-use assets $ 498 $ 143 Interest on lease obligations $ 9 $ 2 Variable lease cost 719 989 Total lease cost $ 4,617 $ 5,325 Maturities of operating and finance lease liabilities as of December 31, 2021 (in thousands) Operating Leases Finance Leases Year Ending December 31, 2022 $ 2,550 $ 561 2023 1,308 1,352 2024 751 - 2025 711 - 2026 344 - After 2027 - - Total future minimum lease payments 5,664 1,913 Less interest (121 ) (12 ) Present value of lease liabilities $ 5,543 $ 1,901 As of December 31, 2021 no not Weighted average remaining lease term and discount rate was as follows: December 31, 2021 2020 Weighted Average Remaining Lease Term - operating leases (years) 3.1 4.4 Weighted Average Remaining Lease Term - finance leases (years) 1.5 2.5 Weighted Average Discount Rate - operating leases 1.6 % 2.6 % Weighted Average Discount Rate - finance leases 0.4 % 0.5 % Supplemental cash flow information related to leases was as follows: Twelve Months Ended December 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,477 $ 4,426 Operating cash flows from finance leases $ 9 $ 2 Financing cash flows from finance leases $ 552 $ 154 Lease assets obtained in exchange for new operating lease liabilities 5,293 1,506 Lease assets obtained in exchange for new financing lease liabilities - 2,523 |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Disclosure of Reclassification Amount [Text Block] | Note 15 Other comprehensive loss is comprised of foreign currency translation adjustments and net unrealized gains (losses) on investments in securities. The following table presents the changes in accumulated other comprehensive loss balances for the years ending December 31, 2021, 2020 2019 Year Ended December 31, (in thousands) 2021 2020 2019 Balance at beginning of period $ (3,420 ) $ (7,018 ) $ (8,492 ) Foreign currency translation adjustments Other comprehensive (loss) income before reclassifications (13,278 ) 3,598 1,474 Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive (loss) income (13,278 ) 3,598 1,474 Net unrealized gains (losses) on investments in securities Other comprehensive (loss) income before reclassifications (119 ) - - Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive (loss) income (119 ) - - Balance at end of period $ (16,817 ) $ (3,420 ) $ (7,018 ) |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 16 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, 2021, 2020 2019 December 31, 2021, 2020 2019 The effective tax rate decreased by 2.2% for the year ended December 31, 2021 2020 one The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. 2017 2018 2019. December 31, 2020. March 31, 2020 December 31, 2020. 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) 2021 2020 2019 Domestic $ 42,449 $ 58,551 $ 74,841 Foreign (2,265 ) 4,394 6,352 Total $ 40,184 $ 62,945 $ 81,193 Significant components of the provision for income taxes for the following periods are as follows: Year Ended December 31, (in thousands) 2021 2020 2019 Current: Federal $ 5,552 $ 2,128 $ 6,991 State 975 1,136 2,882 Foreign (64 ) 1,241 1,544 Deferred Federal (377 ) 6,904 5,121 State (814 ) (431 ) 269 Foreign (1,181 ) 210 (809 ) Valuation Allowance 2,721 890 1,540 Total $ 6,812 $ 12,078 $ 17,538 A reconciliation of the federal statutory income tax rate to the effective tax rate is as follows: Year Ended December 31, 2021 2020 2019 Federal tax statutory rate 21.0 % 21.0 % 21.0 % State tax (net of federal benefit) 2.1 2.1 2.1 Share based compensation (2.3 ) (1.3 ) (0.5 ) Valuation allowance against deferred tax assets 8.9 2.0 1.4 Contingent consideration reduction (7.0 ) - - Research and development credit (4.0 ) (3.7 ) (2.8 ) Foreign rate differential (2.2 ) (0.8 ) (0.3 ) Tax reserves (1.0 ) 1.4 1.1 Provision to return difference (0.7 ) (1.4 ) - Miscellaneous 2.2 (0.1 ) (0.4 ) Total 17.0 % 19.2 % 21.6 % Significant components of deferred tax assets and liabilities are as follows: December 31, (in thousands) 2021 2020 Deferred tax assets: Accrued expenses $ 2,511 $ 2,155 Leases 1,830 3,598 Warrants and stock options 4,271 3,356 Intangible assets - 1,693 Inventories 205 172 Research and development credit 2,126 1,661 Other assets 1,111 129 Net operating loss 14,046 6,647 Less valuation allowance (13,999 ) (9,138 ) Total deferred tax assets 12,101 10,273 Deferred tax liabilities: Depreciation (31,897 ) (32,671 ) Goodwill (9,872 ) (7,858 ) Intangible assets (4,394 ) - Leases (1,830 ) (3,598 ) Total deferred tax liabilities (47,993 ) (44,127 ) Net deferred tax liability $ (35,892 ) $ (33,854 ) The Company has recorded no U.S. deferred taxes related to the undistributed earnings of its non-U.S. subsidiaries as of December 31, 2021 not December 31, 2021 As of December 31, 2021 ten 2022 2031. may €1 €1 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, 2021 2020 2021 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 $4.4 million and $4.8 million at December 31, 2021 2020 December 31, 2021, 2020 2019 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: December 31, 2021 2020 Balance at beginning of period $ 4,830 $ 4,598 Additions for tax positions of current year 491 324 Additions for tax positions of prior years 781 475 Decrease related to expiration of statutes of limitations (1,738 ) (567 ) Balance at period end $ 4,364 $ 4,830 |
Note 17 - Litigation
Note 17 - Litigation | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 17 From time to time, the Company may not |
Note 18 - Segment Reporting
Note 18 - Segment Reporting | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 18 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) 2021 2020 2019 Revenue: United States $ 384,458 $ 345,708 $ 360,205 Europe 90,399 74,796 82,805 Japan 13,241 13,891 15,718 Total revenue $ 488,098 $ 434,395 $ 458,728 Year Ended December 31, (in thousands) 2021 2020 2019 Income from Operations: United States $ 98,001 $ 98,762 $ 108,594 Europe 730 11,707 15,077 Corporate Unallocated and Japan (58,389 ) (50,633 ) (43,815 ) Total income from operations $ 40,342 $ 59,836 $ 79,856 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) 2021 2020 2019 Long-lived assets: United States $ 215,701 $ 215,721 $ 210,171 Europe 59,388 59,388 45,019 Japan 5,257 7,557 8,522 Total long-lived assets $ 280,346 $ 282,666 $ 263,712 Year Ended December 31, (in thousands) 2021 2020 2019 Expenditures for additions to long-lived assets: United States $ 26,698 $ 29,984 $ 45,123 Europe 7,378 16,574 14,743 Japan 133 452 2,364 Total expenditures for additions to long-lived assets $ 34,209 $ 47,010 $ 62,230 Year Ended December 31, (in thousands) 2021 2020 2019 Depreciation and Amortization: United States $ 31,642 $ 25,744 $ 24,767 Europe 7,101 5,024 4,746 Japan 1,745 1,826 1,351 Total depreciation and amortization $ 40,488 $ 32,594 $ 30,864 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
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, foreign currency translation adjustments and net unrealized gains and losses on investments in securities. 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 As of December 31, 2021, first 2021, three As of December 31, 2020, 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 standard 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, 2021 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 Goodwill is tested for impairment annually at the beginning of the fourth may 2021, 2021 may 2021 16 |
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 for its internal and outsourced manufacturing operations 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 not The Company has operating leases for office space, manufacturing facilities and certain company vehicles and equipment and finance leases for certain company equipment. The leases have remaining lease terms of one eight 12 not may December 31, 2021 not |
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 $11.6 million, $11.5 million and $13.0 million for the years ended December 31, 2021, 2020 2019 |
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, 2021, 2020 2019 |
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 In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 2019 12 2019 12 December 15, 2020, 2019 12 January 1, 2021 no |
Note 3 - Revenue (Tables)
Note 3 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Revenue: United States $ 384,458 $ 345,708 $ 360,205 Europe 90,399 74,796 82,805 Japan 13,241 13,891 15,718 Total revenue $ 488,098 $ 434,395 $ 458,728 Year Ended December 31, (in thousands) 2021 2020 2019 Revenue: Injection Molding $ 226,117 $ 217,992 $ 217,415 CNC Machining 166,811 131,587 155,473 3D Printing 72,721 62,502 61,352 Sheet Metal 20,397 18,838 21,000 Other Revenue 2,052 3,476 3,488 Total revenue $ 488,098 $ 434,395 $ 458,728 |
Note 4 - Net Income Per Commo_2
Note 4 - Net Income Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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) 2021 2020 2019 Net Income $ 33,372 $ 50,867 $ 63,655 Basic - weighted-average shares outstanding: 27,617,627 26,737,425 26,866,985 Effect of dilutive securities: Employee stock options and other 35,472 158,932 182,438 Diluted - weighted-average shares outstanding: 27,653,099 26,896,357 27,049,423 Net income per share attributable to common shareholders: Basic $ 1.21 $ 1.90 $ 2.37 Diluted $ 1.21 $ 1.89 $ 2.35 |
Note 5 - Business Combinations
Note 5 - Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Acquired 3D Hubs [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (in thousands) Assets acquired: Current assets $ 2,497 Intangible assets 30,770 Goodwill 280,925 Other long-term assets 1,139 Total assets acquired 315,331 Liabilities assumed: Current contingent consideration 7,093 Current liabilities 5,666 Long-term contingent consideration 6,507 Long-term deferred tax liabilities 1,688 Other long-term liabilities 255 Total liabilities assumed 21,209 Net assets acquired $ 294,122 Cash paid $ 133,847 Cash acquired (6,434 ) Net cash consideration 127,413 Equity portion of purchase price 166,709 Total purchase consideration $ 294,122 |
Note 6 - Goodwill and Other I_2
Note 6 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | (in thousands) Dec. 31, 2019 Goodwill acquired during 2020 Dec. 31, 2020 Goodwill acquired during 2021 Foreign currency translation adjustments during 2021 Dec. 31, 2021 United States $ 123,883 $ - $ 123,883 $ 151,276 $ - $ 275,159 Europe 4,239 - 4,239 129,649 (9,067 ) 124,821 Japan 630 - 630 - - 630 Total goodwill $ 128,752 $ - $ 128,752 $ 280,925 $ (9,067 ) $ 400,610 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Year Ended December 31, 2021 Year Ended December 31, 2020 Weighted Average Useful Life (in thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Useful Life (in years) Remaining (in years) Marketing assets $ 930 $ (713 ) $ 217 $ 930 $ (620 ) $ 310 10.0 2.3 Non-compete agreement 842 (363 ) 479 270 (238 ) 32 2.0 - 5.0 2.9 Software technology 13,229 (5,014 ) 8,215 13,229 (3,645 ) 9,584 10.0 6.5 Software platform 26,725 (2,262 ) 24,463 - - - 12.0 11.1 Tradenames 359 (114 ) 245 - - - 3.0 2.1 Customer relationships 12,252 (7,873 ) 4,379 10,070 (5,646 ) 4,424 3.0 - 9.0 1.8 Total intangible assets $ 54,337 $ (16,339 ) $ 37,998 $ 24,499 $ (10,149 ) $ 14,350 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) Estimated Amortization Expense 2022 $ 6,172 2023 5,968 2024 3,790 2025 3,690 2026 3,586 Thereafter 14,792 Total estimated amortization expense $ 37,998 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2021 December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Financial Assets: Cash and cash equivalents $ 65,637 $ - $ - $ 72,225 $ - $ - Money market mutual fund 292 - - 55,378 - - Marketable securities 7,602 18,318 - - - - Total $ 73,531 $ 18,318 $ - $ 127,603 $ - $ - |
Note 8 - Marketable Securities
Note 8 - Marketable Securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Debt Securities, Available-for-sale [Table Text Block] | December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. government agency securities $ 2,500 $ - $ (12 ) $ 2,488 Corporate debt securities 9,303 - (44 ) 9,259 U.S. municipal securities 12,549 - (70 ) 12,479 Commercial paper - - - - Certificates of deposit/time deposits 1,687 7 - 1,694 Total marketable securities $ 26,039 $ 7 $ (126 ) $ 25,920 |
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 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, (in thousands) 2021 Due in one year or less $ 11,580 Due after one year through five years 14,340 Total marketable securities $ 25,920 |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, (in thousands) 2021 2020 Land $ 15,009 $ 14,028 Buildings and improvements 107,241 77,285 Machinery and equipment 234,900 221,301 Computer hardware and software 81,889 79,207 Leasehold improvements 8,373 7,821 Construction in progress 14,489 33,780 Total 461,901 433,422 Accumulated depreciation and amortization (181,555 ) (150,756 ) Property and equipment, net $ 280,346 $ 282,666 |
Note 10 - Inventory (Tables)
Note 10 - Inventory (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, (in thousands) 2021 2020 Total inventory 13,474 11,122 Allowance for obsolescence (313 ) (260 ) Inventory, net of allowance $ 13,161 $ 10,862 |
Note 13 - Stock-based Compens_2
Note 13 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Stock options and other $ 17,553 $ 13,327 $ 9,591 Employee stock purchase plan 1,542 1,346 1,190 Total stock-based compensation expense $ 19,095 $ 14,673 $ 10,781 Cost of revenue $ 2,595 $ 2,451 $ 2,056 Operating expenses: Marketing and sales 3,736 3,121 2,632 Research and development 2,833 2,440 1,851 General and administrative 9,931 6,661 4,242 Total stock-based compensation expense $ 19,095 $ 14,673 $ 10,781 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.80 - 1.12% 0.50 - 1.47% 2.35 - 2.58% Expected life (years) 6.25 6.25 6.25 Expected volatility 45.28 - 45.53% 42.40 - 43.83% 42.52 - 42.74% Expected dividend yield 0% 0% 0% Weighted average grant date fair value $128.14 $45.32 $47.84 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted- Average Stock Options Exercise Price Options outstanding at January 1, 2019 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 Granted 57,901 128.14 Exercised (28,991 ) 58.78 Cancelled (25,057 ) 109.31 Options outstanding at December 31, 2021 233,384 $ 97.78 Exercisable at December 31, 2021 115,700 $ 81.30 |
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 4,624 0.35 30.58 4,624 30.58 $31.44 to $66.87 50,159 3.58 57.13 45,986 57.02 $66.88 to $96.20 41,586 7.82 89.95 9,570 71.68 $96.21 to $180.46 137,015 7.67 117.31 55,520 107.28 |
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, 2019 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 Granted 205,996 123.61 Restrictions lapsed (115,908 ) 91.26 Forfeited (53,505 ) 128.05 Restricted stock at December 31, 2021 343,782 $ 111.79 |
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, 2019 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 Granted 15,078 203.64 Restrictions lapsed - - Performance change (10,366 ) 192.95 Forfeited (7,829 ) 113.91 Performance stock at December 31, 2021 16,839 $ 115.56 |
Schedule of Share-based Payment Award, Awards Other Than Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2021 2020 2019 Risk-free interest rate 0.06 - 0.17% 0.12 - 0.17% 1.59 - 2.35% Expected life (months) 6.00 6.00 6.00 Expected volatility 53.44 - 65.53% 50.85 - 59.99% 42.63 - 53.57% Expected dividend yield 0% 0% 0% |
Note 14 - Leases (Tables)
Note 14 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Assets and Liabilities, Lessee [Table Text Block] | December 31, (in thousands) 2021 2020 Operating lease assets $ 5,578 $ 9,855 Current operating lease liabilities $ 3,298 $ 3,272 Long-term operating lease liabilities 2,245 7,586 Total operating lease liabilities $ 5,543 $ 10,858 Finance lease assets $ 1,898 $ 2,396 Current finance lease liabilities $ 550 $ 552 Long-term finance lease liabilities 1,351 1,919 Total finance lease liabilities $ 1,901 $ 2,471 |
Schedule of Lease Expense [Table Text Block] | Twelve Months Ended December 31, (in thousands) 2021 2020 Operating lease cost $ 3,391 $ 4,191 Finance lease cost: Amortization of right-of-use assets $ 498 $ 143 Interest on lease obligations $ 9 $ 2 Variable lease cost 719 989 Total lease cost $ 4,617 $ 5,325 Twelve Months Ended December 31, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,477 $ 4,426 Operating cash flows from finance leases $ 9 $ 2 Financing cash flows from finance leases $ 552 $ 154 Lease assets obtained in exchange for new operating lease liabilities 5,293 1,506 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, 2022 $ 2,550 $ 561 2023 1,308 1,352 2024 751 - 2025 711 - 2026 344 - After 2027 - - Total future minimum lease payments 5,664 1,913 Less interest (121 ) (12 ) Present value of lease liabilities $ 5,543 $ 1,901 |
Schedule of Lease Terms and Discount Rates [Table Text Block] | December 31, 2021 2020 Weighted Average Remaining Lease Term - operating leases (years) 3.1 4.4 Weighted Average Remaining Lease Term - finance leases (years) 1.5 2.5 Weighted Average Discount Rate - operating leases 1.6 % 2.6 % Weighted Average Discount Rate - finance leases 0.4 % 0.5 % |
Note 15 - Accumulated Other C_2
Note 15 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Comprehensive Income (Loss) [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Balance at beginning of period $ (3,420 ) $ (7,018 ) $ (8,492 ) Foreign currency translation adjustments Other comprehensive (loss) income before reclassifications (13,278 ) 3,598 1,474 Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive (loss) income (13,278 ) 3,598 1,474 Net unrealized gains (losses) on investments in securities Other comprehensive (loss) income before reclassifications (119 ) - - Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current-period other comprehensive (loss) income (119 ) - - Balance at end of period $ (16,817 ) $ (3,420 ) $ (7,018 ) |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Domestic $ 42,449 $ 58,551 $ 74,841 Foreign (2,265 ) 4,394 6,352 Total $ 40,184 $ 62,945 $ 81,193 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Current: Federal $ 5,552 $ 2,128 $ 6,991 State 975 1,136 2,882 Foreign (64 ) 1,241 1,544 Deferred Federal (377 ) 6,904 5,121 State (814 ) (431 ) 269 Foreign (1,181 ) 210 (809 ) Valuation Allowance 2,721 890 1,540 Total $ 6,812 $ 12,078 $ 17,538 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2021 2020 2019 Federal tax statutory rate 21.0 % 21.0 % 21.0 % State tax (net of federal benefit) 2.1 2.1 2.1 Share based compensation (2.3 ) (1.3 ) (0.5 ) Valuation allowance against deferred tax assets 8.9 2.0 1.4 Contingent consideration reduction (7.0 ) - - Research and development credit (4.0 ) (3.7 ) (2.8 ) Foreign rate differential (2.2 ) (0.8 ) (0.3 ) Tax reserves (1.0 ) 1.4 1.1 Provision to return difference (0.7 ) (1.4 ) - Miscellaneous 2.2 (0.1 ) (0.4 ) Total 17.0 % 19.2 % 21.6 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (in thousands) 2021 2020 Deferred tax assets: Accrued expenses $ 2,511 $ 2,155 Leases 1,830 3,598 Warrants and stock options 4,271 3,356 Intangible assets - 1,693 Inventories 205 172 Research and development credit 2,126 1,661 Other assets 1,111 129 Net operating loss 14,046 6,647 Less valuation allowance (13,999 ) (9,138 ) Total deferred tax assets 12,101 10,273 Deferred tax liabilities: Depreciation (31,897 ) (32,671 ) Goodwill (9,872 ) (7,858 ) Intangible assets (4,394 ) - Leases (1,830 ) (3,598 ) Total deferred tax liabilities (47,993 ) (44,127 ) Net deferred tax liability $ (35,892 ) $ (33,854 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31, 2021 2020 Balance at beginning of period $ 4,830 $ 4,598 Additions for tax positions of current year 491 324 Additions for tax positions of prior years 781 475 Decrease related to expiration of statutes of limitations (1,738 ) (567 ) Balance at period end $ 4,364 $ 4,830 |
Note 18 - Segment Reporting (Ta
Note 18 - Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Income from Operations by Geographic Area [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Income from Operations: United States $ 98,001 $ 98,762 $ 108,594 Europe 730 11,707 15,077 Corporate Unallocated and Japan (58,389 ) (50,633 ) (43,815 ) Total income from operations $ 40,342 $ 59,836 $ 79,856 |
Long-lived Assets by Geographic Areas [Table Text Block] | December 31, December 31, December 31, (in thousands) 2021 2020 2019 Long-lived assets: United States $ 215,701 $ 215,721 $ 210,171 Europe 59,388 59,388 45,019 Japan 5,257 7,557 8,522 Total long-lived assets $ 280,346 $ 282,666 $ 263,712 |
Expenditures for Additions to Long-lived Assets by Geographic Region [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Expenditures for additions to long-lived assets: United States $ 26,698 $ 29,984 $ 45,123 Europe 7,378 16,574 14,743 Japan 133 452 2,364 Total expenditures for additions to long-lived assets $ 34,209 $ 47,010 $ 62,230 |
Depreciation and Amortization by Geographic Region [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Depreciation and Amortization: United States $ 31,642 $ 25,744 $ 24,767 Europe 7,101 5,024 4,746 Japan 1,745 1,826 1,351 Total depreciation and amortization $ 40,488 $ 32,594 $ 30,864 |
Operating Segments [Member] | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year Ended December 31, (in thousands) 2021 2020 2019 Revenue: United States $ 384,458 $ 345,708 $ 360,205 Europe 90,399 74,796 82,805 Japan 13,241 13,891 15,718 Total revenue $ 488,098 $ 434,395 $ 458,728 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Capitalized Computer Software, Net, Ending Balance | $ 49,400 | ||
Goodwill, Impairment Loss | 0 | ||
Advertising Expense | 11,600 | $ 11,500 | $ 13,000 |
Research and Development Expense, Total | $ 44,241 | $ 36,940 | $ 32,692 |
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] | Office Space, Manufacturing Facilities, and Certain Company Vehicles and Equipment [Member] | |||
Lessee, Operating Lease, Term of Contract (Year) | 1 year | ||
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) | 12 years | ||
Maximum [Member] | Office Space, Manufacturing Facilities, and Certain Company Vehicles and Equipment [Member] | |||
Lessee, Operating Lease, Term of Contract (Year) | 8 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue: | |||
Revenue | $ 488,098 | $ 434,395 | $ 458,728 |
Injection Molding (Protomold) [Member] | |||
Revenue: | |||
Revenue | 226,117 | 217,992 | 217,415 |
CNC Machining (Firstcut) [Member] | |||
Revenue: | |||
Revenue | 166,811 | 131,587 | 155,473 |
3D Printing (Fineline) [Member] | |||
Revenue: | |||
Revenue | 72,721 | 62,502 | 61,352 |
Sheet Metal [Member] | |||
Revenue: | |||
Revenue | 20,397 | 18,838 | 21,000 |
Other Products [Member] | |||
Revenue: | |||
Revenue | 2,052 | 3,476 | 3,488 |
UNITED STATES | |||
Revenue: | |||
Revenue | 384,458 | 345,708 | 360,205 |
Europe [Member] | |||
Revenue: | |||
Revenue | 90,399 | 74,796 | 82,805 |
JAPAN | |||
Revenue: | |||
Revenue | $ 13,241 | $ 13,891 | $ 15,718 |
Note 4 - Net Income Per Commo_3
Note 4 - Net Income Per Common Share (Details Textual) | 12 Months Ended |
Dec. 31, 2021$ / shares | |
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount (in dollars per share) | $ 113,043 |
Note 4 - Net Income Per Commo_4
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 33,372 | $ 50,867 | $ 63,655 |
Basic - weighted-average shares outstanding: (in shares) | 27,617,627 | 26,737,425 | 26,866,985 |
Employee stock options and other (in shares) | 35,472 | 158,932 | 182,438 |
Diluted - weighted-average shares outstanding: (in shares) | 27,653,099 | 26,896,357 | 27,049,423 |
Basic (in dollars per share) | $ 1.21 | $ 1.90 | $ 2.37 |
Diluted (in dollars per share) | $ 1.21 | $ 1.89 | $ 2.35 |
Note 5 - Business Combination_2
Note 5 - Business Combinations (Details Textual) - USD ($) $ in Thousands | Jan. 22, 2021 | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 127,413 | $ 0 | $ 0 | ||
Business Combination, Contingent Consideration, Liability, Total | $ 0 | 0 | |||
Acquired 3D Hubs [Member] | |||||
Business Combination, Consideration Transferred, Total | $ 294,100 | 294,122 | |||
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 127,400 | 127,413 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 863,995 | ||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 166,700 | 166,709 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 52,800 | ||||
Payments to Acquire Businesses, Gross | 133,847 | ||||
Business Combination, Contingent Consideration, Liability, Total | $ 13,600 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | (3,900) | ||||
Goodwill, Purchase Accounting Adjustments | 5,500 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Contingent Consideration | 3,300 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Deferred Tax Liabilities | 1,400 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Cash Paid | $ (300) | ||||
Acquired 3D Hubs [Member] | Cash [Member] | |||||
Payments to Acquire Businesses, Gross | $ 25,000 | ||||
Acquired 3D Hubs [Member] | Common Stock [Member] | Maximum [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 143,983 | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 27,800 |
Note 5 - Business Combination_3
Note 5 - Business Combinations - Allocation of Purchase Price for the Acquisition of Rapid (Details) - USD ($) $ in Thousands | Jan. 22, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Assets acquired: | ||||
Goodwill | $ 400,610 | $ 128,752 | $ 128,752 | |
Liabilities assumed: | ||||
Net cash consideration | 127,413 | $ 0 | $ 0 | |
Acquired 3D Hubs [Member] | ||||
Assets acquired: | ||||
Current assets | 2,497 | |||
Intangible assets | 30,770 | |||
Goodwill | 280,925 | |||
Other long-term assets | 1,139 | |||
Total assets acquired | 315,331 | |||
Liabilities assumed: | ||||
Current contingent consideration | 7,093 | |||
Current liabilities | 5,666 | |||
Long-term contingent consideration | 6,507 | |||
Long-term deferred tax liabilities | 1,688 | |||
Other long-term liabilities | 255 | |||
Total liabilities assumed | 21,209 | |||
Net assets acquired | 294,122 | |||
Payments to Acquire Businesses, Gross | 133,847 | |||
Cash acquired | (6,434) | |||
Net cash consideration | $ 127,400 | 127,413 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 166,700 | 166,709 | ||
Total purchase consideration | $ 294,100 | $ 294,122 |
Note 6 - Goodwill and Other I_3
Note 6 - Goodwill and Other Intangible Assets (Details Textual) $ in Thousands, € in Millions | Jan. 22, 2021USD ($) | Jan. 22, 2021EUR (€) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Goodwill, Acquired During Period | $ 280,925 | $ 0 | |||
Amortization of Intangible Assets, Total | 6,200 | 3,000 | $ 3,500 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Total | 900 | 0 | $ 0 | ||
Europe [Member] | |||||
Goodwill, Acquired During Period | 129,649 | 0 | |||
UNITED STATES | |||||
Goodwill, Acquired During Period | 151,276 | $ 0 | |||
Acquired 3D Hubs [Member] | |||||
Goodwill, Acquired During Period | $ 280,900 | ||||
Acquired 3D Hubs [Member] | Europe [Member] | |||||
Goodwill, Acquired During Period | € | € 106.5 | ||||
Acquired 3D Hubs [Member] | UNITED STATES | |||||
Goodwill, Acquired During Period | $ 151,300 |
Note 6 - Goodwill and Other I_4
Note 6 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill, balance as of the beginning of the period | $ 128,752 | $ 128,752 |
Goodwill acquired during the period | 280,925 | 0 |
Goodwill, foreign currency translation adjustment | (9,067) | |
Goodwill, balance as of the end of the period | 400,610 | 128,752 |
UNITED STATES | ||
Goodwill, balance as of the beginning of the period | 123,883 | 123,883 |
Goodwill acquired during the period | 151,276 | 0 |
Goodwill, foreign currency translation adjustment | 0 | |
Goodwill, balance as of the end of the period | 275,159 | 123,883 |
Europe [Member] | ||
Goodwill, balance as of the beginning of the period | 4,239 | 4,239 |
Goodwill acquired during the period | 129,649 | 0 |
Goodwill, foreign currency translation adjustment | (9,067) | |
Goodwill, balance as of the end of the period | 124,821 | 4,239 |
JAPAN | ||
Goodwill, balance as of the beginning of the period | 630 | 630 |
Goodwill acquired during the period | 0 | 0 |
Goodwill, foreign currency translation adjustment | 0 | |
Goodwill, balance as of the end of the period | $ 630 | $ 630 |
Note 6 - Goodwill and Other I_5
Note 6 - Goodwill and Other Intangible Assets - Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Gross | $ 54,337 | $ 24,499 |
Accumulated Amortization | (16,339) | (10,149) |
Net | 37,998 | 14,350 |
Accumulated Amortization | $ 16,339 | 10,149 |
Minimum [Member] | ||
Useful Life (Year) | 2 years | |
Maximum [Member] | ||
Useful Life (Year) | 12 years | |
Marketing-Related Intangible Assets [Member] | ||
Gross | $ 930 | 930 |
Accumulated Amortization | (713) | (620) |
Net | $ 217 | 310 |
Useful Life (Year) | 10 years | |
Weighted average useful life remaining (Year) | 2 years 3 months 18 days | |
Accumulated Amortization | $ 713 | 620 |
Noncompete Agreements [Member] | ||
Gross | 842 | 270 |
Accumulated Amortization | (363) | (238) |
Net | $ 479 | 32 |
Weighted average useful life remaining (Year) | 2 years 10 months 24 days | |
Accumulated Amortization | $ 363 | 238 |
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 | (5,014) | (3,645) |
Net | $ 8,215 | 9,584 |
Useful Life (Year) | 10 years | |
Weighted average useful life remaining (Year) | 6 years 6 months | |
Accumulated Amortization | $ 5,014 | 3,645 |
Software Platform [Member] | ||
Gross | 26,725 | 0 |
Accumulated Amortization | 2,262 | 0 |
Net | $ 24,463 | 0 |
Useful Life (Year) | 12 years | |
Weighted average useful life remaining (Year) | 11 years 1 month 6 days | |
Accumulated Amortization | $ (2,262) | 0 |
Trade Names [Member] | ||
Gross | 359 | 0 |
Accumulated Amortization | 114 | 0 |
Net | $ 245 | 0 |
Useful Life (Year) | 3 years | |
Weighted average useful life remaining (Year) | 2 years 1 month 6 days | |
Accumulated Amortization | $ (114) | 0 |
Customer Relationships [Member] | ||
Gross | 12,252 | 10,070 |
Accumulated Amortization | (7,873) | (5,646) |
Net | $ 4,379 | 4,424 |
Weighted average useful life remaining (Year) | 1 year 9 months 18 days | |
Accumulated Amortization | $ 7,873 | $ 5,646 |
Customer Relationships [Member] | Minimum [Member] | ||
Useful Life (Year) | 3 years | |
Customer Relationships [Member] | Maximum [Member] | ||
Useful Life (Year) | 9 years |
Note 6 - Goodwill and Other I_6
Note 6 - Goodwill and Other Intangible Assets - Estimated Aggregated Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022 | $ 6,172 | |
2023 | 5,968 | |
2024 | 3,790 | |
2025 | 3,690 | |
2026 | 3,586 | |
Thereafter | 14,792 | |
Total estimated amortization expense | $ 37,998 | $ 14,350 |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements (Details Textual) $ in Thousands | Dec. 31, 2021USD ($) |
Business Combination, Contingent Consideration, Liability, Total | $ 0 |
Note 7 - Fair Value Measureme_4
Note 7 - Fair Value Measurements - Fair Value of Financial Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Marketable securities | $ 25,920 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 65,637 | $ 72,225 |
Marketable securities | 7,602 | 0 |
Total | 73,531 | 127,603 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Cash and cash equivalents | 292 | 55,378 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Marketable securities | 18,318 | 0 |
Total | 18,318 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Cash and cash equivalents | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Marketable securities | 0 | 0 |
Total | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Cash and cash equivalents | $ 0 | $ 0 |
Note 8 - Marketable Securitie_2
Note 8 - Marketable Securities - Short-term and Long-term Available for Sale Securities (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Amortized Cost | $ 26,039 |
Unrealized Gains | 7 |
Unrealized Losses | (126) |
Fair Value | 25,920 |
Bank Time Deposits [Member] | |
Amortized Cost | 1,687 |
Unrealized Gains | 7 |
Unrealized Losses | 0 |
Fair Value | 1,694 |
US Government Agencies Debt Securities [Member] | |
Amortized Cost | 2,500 |
Unrealized Gains | 0 |
Unrealized Losses | (12) |
Fair Value | 2,488 |
Corporate Debt Securities [Member] | |
Amortized Cost | 9,303 |
Unrealized Gains | 0 |
Unrealized Losses | (44) |
Fair Value | 9,259 |
US States and Political Subdivisions Debt Securities [Member] | |
Amortized Cost | 12,549 |
Unrealized Gains | 0 |
Unrealized Losses | (70) |
Fair Value | 12,479 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |
Amortized Cost | 0 |
Unrealized Gains | 0 |
Unrealized Losses | 0 |
Fair Value | $ 0 |
Note 8 - Marketable Securitie_3
Note 8 - Marketable Securities - Short-term and Long-term Held-to-Maturity Securities (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Amortized Cost | $ 93,445 |
Unrealized Gains | 393 |
Unrealized Losses | (23) |
Fair Value | 93,815 |
Bank Time Deposits [Member] | |
Amortized Cost | 5,395 |
Unrealized Gains | 93 |
Unrealized Losses | 0 |
Fair Value | 5,488 |
US Government Agencies Debt Securities [Member] | |
Amortized Cost | 18,500 |
Unrealized Gains | 6 |
Unrealized Losses | (10) |
Fair Value | 18,496 |
Corporate Debt Securities [Member] | |
Amortized Cost | 42,048 |
Unrealized Gains | 211 |
Unrealized Losses | (11) |
Fair Value | 42,248 |
US States and Political Subdivisions Debt Securities [Member] | |
Amortized Cost | 25,003 |
Unrealized Gains | 83 |
Unrealized Losses | (2) |
Fair Value | 25,084 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |
Amortized Cost | 2,499 |
Unrealized Gains | 0 |
Unrealized Losses | 0 |
Fair Value | $ 2,499 |
Note 8 - Marketable Securitie_4
Note 8 - Marketable Securities - Balance of Held-to-maturity Debt Securities by Contractual Maturity (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Due in one year or less | $ 11,580 |
Due after one year through five years | 14,340 |
Total marketable securities | $ 25,920 |
Note 9 - Property and Equipme_3
Note 9 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 34.3 | $ 29.6 | $ 27.4 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Land | $ 15,009 | $ 14,028 | |
Buildings and improvements | 107,241 | 77,285 | |
Machinery and equipment | 234,900 | 221,301 | |
Computer hardware and software | 81,889 | 79,207 | |
Leasehold improvements | 8,373 | 7,821 | |
Construction in progress | 14,489 | 33,780 | |
Total | 461,901 | 433,422 | |
Accumulated depreciation and amortization | (181,555) | (150,756) | |
Property and equipment, net | $ 280,346 | $ 282,666 | $ 263,712 |
Note 10 - Inventory - Inventory
Note 10 - Inventory - Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Total inventory | $ 13,474 | $ 11,122 |
Allowance for obsolescence | (313) | (260) |
Inventory, net of allowance | $ 13,161 | $ 10,862 |
Note 11 - Financing Obligatio_2
Note 11 - Financing Obligations (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Long-term Line of Credit, Total | $ 0 | $ 0 |
Note 12 - Employee Benefit Pl_2
Note 12 - Employee Benefit Plans (Details Textual) - 401(k) Retirement Plan [Member] $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
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 | $ 3.7 | $ 3.3 | $ 3.1 |
Foreign Plan [Member] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0.4 | $ 0.5 | $ 0.3 |
Note 13 - Stock-based Compens_3
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 3.8 | $ 5.4 | $ 0.9 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year) | 6 years 8 months 12 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0.1 | ||
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 | $ 0.1 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 2.1 | $ 1.8 | $ 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) | 67,729 | 42,235 | |
Employee Stock Purchase Plan, Weighted Average Purchase Price of Shares Purchased (in shares) | 61.96 | 85.85 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 1,058,866 | ||
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 | $ 4.3 | ||
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 | $ 26 | ||
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) | 3 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 | $ 0.8 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 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% | ||
Long-Term Incentive Plan 2012 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years |
Note 13 - Stock-based Compens_4
Note 13 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Allocated share-based compensation expense | $ 19,095 | $ 14,673 | $ 10,781 |
Cost of Sales [Member] | |||
Allocated share-based compensation expense | 2,595 | 2,451 | 2,056 |
Selling and Marketing Expense [Member] | |||
Allocated share-based compensation expense | 3,736 | 3,121 | 2,632 |
Research and Development Expense [Member] | |||
Allocated share-based compensation expense | 2,833 | 2,440 | 1,851 |
General and Administrative Expense [Member] | |||
Allocated share-based compensation expense | 9,931 | 6,661 | 4,242 |
Stock Options, Restricted Stock, and Other [Member] | |||
Allocated share-based compensation expense | 17,553 | 13,327 | 9,591 |
ESPP [Member] | |||
Allocated share-based compensation expense | $ 1,542 | $ 1,346 | $ 1,190 |
Note 13 - Stock-based Compens_5
Note 13 - 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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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) | $ 128.14 | $ 45.32 | $ 47.84 |
Minimum [Member] | |||
Risk-free interest rate | 0.80% | 0.50% | 2.35% |
Expected volatility | 45.28% | 42.40% | 42.52% |
Maximum [Member] | |||
Risk-free interest rate | 1.12% | 1.47% | 2.58% |
Expected volatility | 45.53% | 43.83% | 42.74% |
Note 13 - Stock-based Compens_6
Note 13 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 |
Granted (in shares) | 57,901 | 60,065 | 53,708 |
Granted, weighted-average exercise price (in dollars per share) | $ 128.14 | $ 105.79 | $ 105.81 |
Exercised (in shares) | (28,991) | (68,958) | (16,079) |
Exercised, weighted-average exercise price (in dollars per share) | $ 58.78 | $ 57 | $ 48.67 |
Cancelled (in shares) | (25,057) | (37,842) | (13,979) |
Cancelled, weighted-average exercise price (in dollars per share) | $ 109.31 | $ 67.92 | $ 89.50 |
Options outstanding (in shares) | 233,384 | 229,531 | 276,266 |
Options outstanding, weighted-average exercise price (in dollars per share) | $ 97.78 | $ 86.46 | $ 72.38 |
Options exercisable (in shares) | 115,700 | ||
Options exercisable, weighted-average exercise price (in dollars per share) | $ 81.30 |
Note 13 - Stock-based Compens_7
Note 13 - Stock-based Compensation - Information about Stock Options Outstanding (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Options outstanding, vested and expected to vest, number outstanding (in shares) | 233,384 | 229,531 | 276,266 | 252,616 |
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share) | $ 97.78 | $ 86.46 | $ 72.38 | $ 64.71 |
Exercise Price Range One [Member] | ||||
Range of exercise prices, lower limit (in dollars per share) | $ 7.76 | |||
Options outstanding, vested and expected to vest, number outstanding (in shares) | 4,624 | |||
Range of exercise prices, upper limit (in dollars per share) | $ 31.43 | |||
Options outstanding, vested and expected to vest, weighted average remaining contractual life (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) | 4,624 | |||
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) | $ 31.44 | |||
Options outstanding, vested and expected to vest, number outstanding (in shares) | 50,159 | |||
Range of exercise prices, upper limit (in dollars per share) | $ 66.87 | |||
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year) | 3 years 6 months 29 days | |||
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share) | $ 57.13 | |||
Options exercisable, number exercisable (in shares) | 45,986 | |||
Options exercisable, weighted average exercise price (in dollars per share) | $ 57.02 | |||
Exercise Price Range Three [Member] | ||||
Range of exercise prices, lower limit (in dollars per share) | $ 66.88 | |||
Options outstanding, vested and expected to vest, number outstanding (in shares) | 41,586 | |||
Range of exercise prices, upper limit (in dollars per share) | $ 96.20 | |||
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year) | 7 years 9 months 25 days | |||
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share) | $ 89.95 | |||
Options exercisable, number exercisable (in shares) | 9,570 | |||
Options exercisable, weighted average exercise price (in dollars per share) | $ 71.68 | |||
Exercise Price Range Four [Member] | ||||
Range of exercise prices, lower limit (in dollars per share) | $ 96.21 | |||
Options outstanding, vested and expected to vest, number outstanding (in shares) | 137,015 | |||
Range of exercise prices, upper limit (in dollars per share) | $ 123.10 | |||
Options outstanding, vested and expected to vest, weighted average remaining contractual life (Year) | 7 years 8 months 1 day | |||
Options outstanding, vested and expected to vest, weighted average exercise price (in dollars per share) | $ 117.31 | |||
Options exercisable, number exercisable (in shares) | 55,520 | |||
Options exercisable, weighted average exercise price (in dollars per share) | $ 107.28 |
Note 13 - Stock-based Compens_8
Note 13 - Stock-based Compensation - Restricted Stock Options (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 |
Granted (in shares) | 205,996 | 108,179 | 115,471 |
Granted, weighted-average grant date fair value (in dollars per share) | $ 123.61 | $ 111.76 | $ 106.35 |
Restrictions lapsed (in shares) | (115,908) | (101,941) | (92,597) |
Restrictions lapsed, weighted-average grant date fair value (in dollars per share) | $ 91.26 | $ 84.70 | $ 77.25 |
Forfeited (in shares) | (53,505) | (14,012) | (31,822) |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ 128.05 | $ 94.24 | $ 87.58 |
Restricted stock (in shares) | 343,782 | 307,199 | 314,973 |
Restricted stock, weighted-average grant date fair value (in dollars per share) | $ 111.79 | $ 98.87 | $ 89.55 |
Note 13 - Stock-based Compens_9
Note 13 - Stock-based Compensation - Performance Stock (Details) - Performance Shares [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 |
Granted (in shares) | 15,078 | 19,956 | 21,434 |
Granted, weighted-average grant date fair value (in dollars per share) | $ 203.64 | $ 118.66 | $ 104.99 |
Restrictions lapsed (in shares) | 0 | (7,113) | 0 |
Restrictions lapsed, weighted-average grant date fair value (in dollars per share) | $ 0 | $ 58.35 | $ 0 |
Performance change (in shares) | (10,366) | 0 | (61,816) |
Performance change, weighted-average grant date fair value (in dollars per share) | $ 192.95 | $ 0 | $ 88.06 |
Forfeited (in shares) | (7,829) | (2,270) | (2,375) |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ 113.91 | $ 58.35 | $ 105.37 |
Granted (in shares) | 15,078 | 19,956 | 21,434 |
Restrictions lapsed (in shares) | 0 | (7,113) | 0 |
Performance change, weighted-average grant date fair value (in dollars per share) | $ 192.95 | $ 0 | $ 88.06 |
Forfeited (in shares) | (7,829) | (2,270) | (2,375) |
Performance stock (in shares) | 16,839 | 19,956 | 9,383 |
Restricted stock, weighted-average grant date fair value (in dollars per share) | $ 115.56 | $ 118.66 | $ 58.35 |
Note 13 - Stock-based Compen_10
Note 13 - Stock-based Compensation - Assumptions Used in the Valuation of Performance Stock (Details) - Performance Shares [Member] | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Expected life (Year) | 6 years | 6 years | 6 years |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | |||
Risk-free interest rate | 0.06% | 0.12% | 1.59% |
Expected volatility | 53.44% | 50.85% | 42.63% |
Maximum [Member] | |||
Risk-free interest rate | 0.17% | 0.17% | 2.35% |
Expected volatility | 65.53% | 59.99% | 53.57% |
Note 14 - Leases - Balance Shee
Note 14 - Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Operating lease assets | $ 5,578 | $ 9,855 |
Current operating lease liabilities | 3,298 | 3,272 |
Long-term operating lease liabilities | 2,245 | 7,586 |
Total operating lease liabilities | 5,543 | 10,858 |
Finance lease assets | 1,898 | 2,396 |
Current finance lease liabilities | 550 | 552 |
Long-term finance lease liabilities | 1,351 | 1,919 |
Total finance lease liabilities | $ 1,901 | $ 2,471 |
Note 14 - Leases - Lease Expens
Note 14 - Leases - Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating lease cost | $ 3,391 | $ 4,191 | |
Amortization of right-of-use assets | 498 | 143 | |
Interest on lease obligations | 9 | 2 | |
Variable lease cost | 719 | 989 | |
Total lease cost | 4,617 | 5,325 | |
Operating cash flows from operating leases | 10,477 | 4,426 | |
Operating cash flows from finance leases | 9 | 2 | |
Financing cash flows from finance leases | 552 | 154 | $ 0 |
Lease assets obtained in exchange for new operating lease liabilities | 5,293 | 1,506 | |
Lease assets obtained in exchange for new financing lease liabilities | $ 0 | $ 2,523 |
Note 14 - Leases - Maturities o
Note 14 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022, operating lease | $ 2,550 | |
2022, finance lease | 561 | |
2023, operating lease | 1,308 | |
2023, finance lease | 1,352 | |
2024, operating lease | 751 | |
2024, finance lease | 0 | |
2025, operating lease | 711 | |
2025, finance lease | 0 | |
2026, operating lease | 344 | |
2026, finance lease | 0 | |
After 2027, operating lease | 0 | |
After 2027, finance lease | 0 | |
Total future minimum lease payments, operating lease | 5,664 | |
Total future minimum lease payments, finance lease | 1,913 | |
Less interest, operating lease | (121) | |
Less interest, finance lease | (12) | |
Present value of lease liabilities, operating lease | 5,543 | $ 10,858 |
Present value of lease liabilities | $ 1,901 | $ 2,471 |
Note 14 - Leases - Weighted Ave
Note 14 - Leases - Weighted Average Remaining Terms and Discount Rates (Details) | Dec. 31, 2021 | Dec. 31, 2020 |
Weighted Average Remaining Lease Term - operating leases (years) (Year) | 3 years 1 month 6 days | 4 years 4 months 24 days |
Weighted Average Remaining Lease Term - finance leases (years) (Year) | 1 year 6 months | |
Weighted Average Discount Rate - operating leases | 1.60% | 2.60% |
Weighted Average Discount Rate - finance leases | 0.40% | 0.50% |
Note 15 - Accumulated Other C_3
Note 15 - Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Balance at beginning of period | $ 644,356 | $ 585,790 | $ 541,497 |
Balance at end of period | 828,493 | 644,356 | 585,790 |
AOCI Attributable to Parent [Member] | |||
Balance at beginning of period | (3,420) | (7,018) | (8,492) |
Balance at end of period | (16,817) | (3,420) | (7,018) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||
Other comprehensive (loss) income before reclassifications | (13,278) | 3,598 | 1,474 |
Net current-period other comprehensive (loss) income | (13,278) | 3,598 | 1,474 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||
Other comprehensive (loss) income before reclassifications | (119) | 0 | 0 |
Net current-period other comprehensive (loss) income | $ (119) | $ 0 | $ 0 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Expense (Benefit), Total | $ 6,812 | $ 12,078 | $ 17,538 |
Effective Income Tax Rate Reconciliation, Percent, Total | 17.00% | 19.20% | 21.60% |
Effective Income Tax Rate Continuing Operations Increase (Decrease) During the Period | 2.20% | ||
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 | 2,700 | ||
Operating Loss Carryforwards, Total | $ 14,000 | ||
Operating Loss Carryforwards, Expiration Period (Year) | 10 years | ||
Deferred Tax Assets, Valuation Allowance, Total | $ 13,999 | $ 9,138 | |
Unrecognized Tax Benefits, Ending Balance | $ 4,364 | $ 4,830 | $ 4,598 |
GERMANY | |||
Operating Loss Carryforwards, Percentage of Taxable Income | 60.00% | ||
NETHERLANDS | |||
Operating Loss Carryforwards, Percentage of Taxable Income | 50.00% |
Note 16 - Income Taxes - Compon
Note 16 - Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Domestic | $ 42,449 | $ 58,551 | $ 74,841 |
Foreign | (2,265) | 4,394 | 6,352 |
Income before income taxes | $ 40,184 | $ 62,945 | $ 81,193 |
Note 16 - Income Taxes - Signif
Note 16 - Income Taxes - Significant Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ 5,552 | $ 2,128 | $ 6,991 |
State | 975 | 1,136 | 2,882 |
Foreign | (64) | 1,241 | 1,544 |
Deferred | |||
Federal | (377) | 6,904 | 5,121 |
State | (814) | (431) | 269 |
Foreign | (1,181) | 210 | (809) |
Valuation Allowance | 2,721 | 890 | 1,540 |
Total | $ 6,812 | $ 12,078 | $ 17,538 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Federal tax statutory rate | 21.00% | 21.00% | 21.00% |
State tax (net of federal benefit) | 2.10% | 2.10% | 2.10% |
Share based compensation | (2.30%) | (1.30%) | (0.50%) |
Valuation allowance against deferred tax assets | 8.90% | 2.00% | 1.40% |
Contingent consideration reduction | (7.00%) | 0.00% | 0.00% |
Research and development credit | (4.00%) | (3.70%) | (2.80%) |
Foreign rate differential | (2.20%) | (0.80%) | (0.30%) |
Tax reserves | (1.00%) | 1.40% | 1.10% |
Provision to return difference | (0.70%) | (1.40%) | 0.00% |
Miscellaneous | 2.20% | (0.10%) | (0.40%) |
Total | 17.00% | 19.20% | 21.60% |
Note 16 - Income Taxes - Sign_2
Note 16 - Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Accrued expenses | $ 2,511 | $ 2,155 |
Leases | 1,830 | 3,598 |
Warrants and stock options | 4,271 | 3,356 |
Intangible assets | 0 | 1,693 |
Inventories | 205 | 172 |
Research and development credit | 2,126 | 1,661 |
Other assets | 1,111 | 129 |
Net operating loss | 14,046 | 6,647 |
Less valuation allowance | (13,999) | (9,138) |
Total deferred tax assets | 12,101 | 10,273 |
Deferred tax liabilities: | ||
Depreciation | (31,897) | (32,671) |
Goodwill | (9,872) | (7,858) |
Intangible assets | (4,394) | 0 |
Leases | (1,830) | (3,598) |
Total deferred tax liabilities | (47,993) | (44,127) |
Net deferred tax liability | $ (35,892) | $ (33,854) |
Note 16 - Income Taxes - Reco_2
Note 16 - Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 4,830 | $ 4,598 |
Additions for tax positions of current year | 491 | 324 |
Additions for tax positions of prior years | 781 | 475 |
Decrease related to expiration of statutes of limitations | (1,738) | (567) |
Balance | $ 4,364 | $ 4,830 |
Note 18 - Segment Reporting - R
Note 18 - Segment Reporting - Revenue From Operations by Reportable Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 488,098 | $ 434,395 | $ 458,728 |
Operating Segments [Member] | |||
Revenue | 488,098 | 434,395 | 458,728 |
Operating Segments [Member] | United States Segment [Member] | |||
Revenue | 384,458 | 345,708 | 360,205 |
Operating Segments [Member] | Europe Segment [Member] | |||
Revenue | 90,399 | 74,796 | 82,805 |
Operating Segments [Member] | Japan Segment [Member] | |||
Revenue | $ 13,241 | $ 13,891 | $ 15,718 |
Note 18 - Segment Reporting - I
Note 18 - Segment Reporting - Income From Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income from operations | $ 40,342 | $ 59,836 | $ 79,856 |
Operating Segments [Member] | United States Segment [Member] | |||
Income from operations | 98,001 | 98,762 | 108,594 |
Operating Segments [Member] | Europe Segment [Member] | |||
Income from operations | 730 | 11,707 | 15,077 |
Operating Segments [Member] | Corporate Unallocated and Japan Segment[Member] | |||
Income from operations | $ (58,389) | $ (50,633) | $ (43,815) |
Note 18 - Segment Reporting - L
Note 18 - Segment Reporting - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Long-lived assets | $ 280,346 | $ 282,666 | $ 263,712 |
Operating Segments [Member] | United States Segment [Member] | |||
Long-lived assets | 215,701 | 215,721 | 210,171 |
Operating Segments [Member] | Europe Segment [Member] | |||
Long-lived assets | 59,388 | 59,388 | 45,019 |
Operating Segments [Member] | Japan Segment [Member] | |||
Long-lived assets | $ 5,257 | $ 7,557 | $ 8,522 |
Note 18 - Segment Reporting - E
Note 18 - Segment Reporting - Expenditures for Additions to Long-lived Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Expenditures for additions to long-lived assets | $ 34,209 | $ 47,010 | $ 62,230 |
UNITED STATES | |||
Expenditures for additions to long-lived assets | 26,698 | 29,984 | 45,123 |
Europe [Member] | |||
Expenditures for additions to long-lived assets | 7,378 | 16,574 | 14,743 |
JAPAN | |||
Expenditures for additions to long-lived assets | $ 133 | $ 452 | $ 2,364 |
Note 18 - Segment Reporting - D
Note 18 - Segment Reporting - Depreciation and Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation and amortization | $ 40,488 | $ 32,594 | $ 30,864 |
UNITED STATES | |||
Depreciation and amortization | 31,642 | 25,744 | 24,767 |
Europe [Member] | |||
Depreciation and amortization | 7,101 | 5,024 | 4,746 |
JAPAN | |||
Depreciation and amortization | $ 1,745 | $ 1,826 | $ 1,351 |