Segment Reporting

9 Months Ended

Sep. 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 nine months ended September 30, 2023 and 2022 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands)	2023		2022		2023		2022
Revenue:
United States	$	103,940	$	98,970	$	298,007	$	295,121
Europe	26,765		21,464		80,822		69,441
Japan	-		1,287		-		8,229
Total revenue	$	130,705	$	121,721	$	378,829	$	372,791

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Income (Loss) from Operations:
United States	$	27,178	$	25,293	$	69,713	$	73,984
Europe	(3,006)		(3,581)		(8,870)		(7,509)
Corporate Unallocated and Japan	(13,757)		(15,654)		(41,071)		(47,326)
Total Income from Operations	$	10,415	$	6,058	$	19,772	$	19,149

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

(in thousands)	September 30, 2023		December 31, 2022
Total long-lived assets:
United States	$	190,927	$	203,816
Europe	52,095		53,835
Japan	-		134
Total Long-lived Assets	$	243,022	$	257,785

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

	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands)	2023		2022		2023		2022
Revenue:
Injection Molding	$	51,688	$	48,940	$	152,455	$	155,693
CNC Machining	52,916		47,489		149,317		141,809
3D Printing	21,622		19,823		63,952		59,458
Sheet Metal	4,291		5,219		12,478		15,066
Other Revenue	188		250		627		765
Total Revenue	$	130,705	$	121,721	$	378,829	$	372,791