Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

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 allocate directly to its operating segments.

Revenue in the United States and Europe is derived primarily from Injection Molding, CNC Machining, 3D Printing and Sheet Metal product lines. Revenue in Japan was derived from Injection Molding and CNC Machining product lines. Injection Molding revenue consists of sales of custom injection molds and injection-molded parts. CNC Machining revenue consists of sales of CNC-machined and lathe-turned customer parts. 3D Printing revenue consists of sales of 3D-printed parts. Sheet Metal revenue consists of sales of fabricated sheet metal parts.

The accounting policies of the reportable segments are the same as those described in Note 2 – Summary of Significant Accounting Policies. Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income (loss) 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.

The following table summarizes selected financial information by reportable segments:

Year Ended December 31 2024,
(in thousands)
	United States		Europe		Corporate Unallocated and Japan		Total
Revenue	$	396,192	$	104,698	$	—	$	500,890
Segment expense1	297,902		114,654		62,838		475,394
Exit, Disposal and Goodwill impairment costs	—		5,585		—		5,585
Income (Loss) from Operations	$	98,290	$	(15,541)	$	(62,838)	$	19,911

Year Ended December 31 2023,
(in thousands)
	United States		Europe		Corporate Unallocated and Japan		Total
Revenue	$	396,821	$	107,056	$	—	$	503,877
Segment expense1	302,139		119,584		53,772		475,495
Exit, Disposal and Goodwill impairment costs	—		—		215		215
Income (Loss) from Operations	$	94,682	$	(12,528)	$	(53,987)	$	28,167

Year Ended December 31 2022,
(in thousands)
	United States		Europe		Corporate Unallocated and Japan		Total
Revenue	$	387,399	$	92,770	$	8,229	$	488,398
Segment expense1	294,223		105,148		62,080		461,451
Exit, Disposal and Goodwill impairment costs	—		118,008		6,922		124,930
Income (Loss) from Operations	$	93,176	$	(130,386)	$	(60,773)	$	(97,983)

1 Segment expenses consist primarily of raw materials, equipment depreciation, employee compensation including benefits, commissions and stock-based compensation, facilities costs and overhead allocations associated with the manufacturing process for molds and custom parts, marketing programs such as electronic, print and pay-per-click advertising and trade shows and other related costs for our United States and Europe reportable segments. Segment expenses for our Corporate Unallocated and Japan reportable segment consist primarily of personnel and outside service costs related to the development of new processes and product lines, enhancements of existing product lines, software developed for internal use, maintenance of internally developed software, quality assurance and testing and employee compensation including benefits, stock-based compensation, professional service fees related to accounting, tax and legal and other related overhead costs.

Total long-lived assets, expenditures for additions to long-lived assets and depreciation and amortization expense are as follows:

(in thousands)	December 31, 2024		December 31, 2023		December 31, 2022
Long-lived assets:
United States	$	181,291	$	201,388	$	203,816
Europe	45,972		52,267		53,835
Japan	—		—		134
Total long-lived assets	$	227,263	$	253,655	$	257,785

	Year Ended December 31,
(in thousands)	2024		2023		2022
Expenditures for additions to long-lived assets:
United States	$	6,372	$	24,553	$	17,538
Europe	2,797		3,563		4,137
Japan	—		—		11
Total expenditures for additions to long-lived assets	$	9,169	$	28,116	$	21,686

	Year Ended December 31,
(in thousands)	2024		2023		2022
Depreciation and Amortization:
United States	$	28,930	$	30,667	$	31,666
Europe	6,878		6,861		6,770
Japan	—		—		989
Total depreciation and amortization	$	35,808	$	37,528	$	39,425