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Revenue
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts with Customers. The Company provides quality, quick-turn prototyping and on-demand manufacturing services. As a result, the majority of revenue recognized in a reporting period is based on completed, invoiced contracts.
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. The majority of the Company’s CNC machining, 3D printing, and sheet metal contracts have a single performance obligation. The majority of the Company’s injection molding contracts have multiple performance obligations including one obligation to produce the mold and a second obligation to produce parts. For injection molding contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine standalone selling price based on the price charged to customers.
The Company manufactures parts that have no alternative use to the Company since the parts are custom made to specific customer orders, and the Company believes there is a legally enforceable right to payment for performance completed to date on these manufactured parts. For manufactured parts that meet these two criteria, the Company will recognize revenue over time. Revenue is recognized over time using the input method based on time in production as a percentage of total estimated production time to measure progress toward satisfying performance obligations using the estimated total time necessary to complete the parts per the customer's order and an estimate of inventory and production costs incurred to date. The input method requires an analysis of the incurred time in production and an estimate of the total time necessary to complete the total parts per the customer's order. The value of unbilled receivables related to the performance on manufactured parts not yet completed as of December 31, 2023 and 2022 was $10.1 million and $8.5 million, respectively, recorded within accounts receivable, net of allowance for doubtful accounts.
Revenue by geographic region for the years ended December 31, 2023, 2022 and 2021 was as follows:
Year Ended December 31,
(in thousands)202320222021
Revenue:
United States$396,821 $387,399 $384,458 
Europe107,056 92,770 90,399 
Japan— 8,229 13,241 
Total revenue$503,877 $488,398 $488,098 
Revenue by product line for the years ended December 31, 2023, 2022 and 2021 was as follows:
Year Ended December 31,
(in thousands)202320222021
Revenue:
Injection Molding$203,941 $200,578 $226,117 
CNC Machining198,222 188,372 166,811 
3D Printing84,291 78,988 72,721 
Sheet Metal16,540 19,498 20,397 
Other Revenue883 962 2,052 
Total revenue$503,877 $488,398 $488,098 
The Company generally expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within marketing and sales expenses. The value of unsatisfied performance obligations for contracts with an original expected length of one year or less as of December 31, 2023 and 2022 was $9.8 million and $10.9 million, respectively.