Segment Reporting

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company’s reportable segments are based on the internal reporting used by the Company’s Chief Executive Officer, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs, that the Company does not allocate directly to its operating segments.

Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income from operations and pre-tax income relates to foreign currency-related gains and losses and interest income on cash balances and investments, which are not allocated to business segments.

Revenue and income from operations by reportable segment for the three and six months ended June 30, 2023 and 2022 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)	2023		2022		2023		2022
Revenue:
United States	$	96,321	$	100,655	$	194,067	$	196,151
Europe	25,944		23,391		54,057		47,977
Japan	-		2,856		-		6,942
Total revenue	$	122,265	$	126,902	$	248,124	$	251,070

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Income (Loss) from Operations:
United States	$	22,053	$	26,168	$	42,534	$	48,691
Europe	(3,380)		(2,249)		(5,863)		(3,928)
Corporate Unallocated and Japan	(13,065)		(18,718)		(27,314)		(31,672)
Total Income from Operations	$	5,608	$	5,201	$	9,357	$	13,091

Total long-lived assets at June 30, 2023 and December 31, 2022 were as follows:

(in thousands)	June 30, 2023		December 31, 2022
Total long-lived assets:
United States	$	194,656	$	203,816
Europe	53,958		53,835
Japan	-		134
Total Long-lived Assets	$	248,614	$	257,785

Revenue by product line for the three and six months ended June 30, 2023 and 2022 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)	2023		2022		2023		2022
Revenue:
Injection Molding	$	48,819	$	53,355	$	100,767	$	106,753
CNC Machining	48,297		48,222		96,401		94,320
3D Printing	21,005		19,963		42,330		39,635
Sheet Metal	3,939		5,160		8,187		9,847
Other Revenue	205		202		439		515
Total Revenue	$	122,265	$	126,902	$	248,124	$	251,070