0001443669-26-000010 | 10-K | XBRL Viewer

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Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Total operating lease liabilities
Operating lease assets	$ 2,836	$ 2,993
Current operating lease liabilities	1,155	1,287
Long-term operating lease liabilities	1,606	1,633
Total operating lease liabilities	2,761	2,920
Total finance lease liabilities
Finance lease assets	424	692
Current finance lease liabilities	286	309
Long-term finance lease liabilities	0	287
Total finance lease liabilities	$ 286	$ 596

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2025
Accounting Policies [Abstract]
Principles of consolidation	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 (loss)	Comprehensive income (loss) Components of comprehensive income (loss) include net income, foreign currency translation adjustments and net unrealized gains and losses on investments in securities. Comprehensive income (loss) is disclosed in the accompanying Consolidated Statements of Comprehensive Income and Consolidated Statements of Shareholders’ Equity.
Accounting estimates	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 Cash and cash equivalents include cash and other investments, including marketable securities, with maturities of three months or less at the date of purchase. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses on such accounts.
Marketable securities	Marketable securities Marketable securities are categorized as available-for-sale and are recorded at fair value. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. The classification of marketable securities as current or non-current is dependent upon the security’s maturity date. Securities with maturities of three months or less at the time of purchase are categorized as cash equivalents as described above.
Accounts receivable and allowance for credit losses	Accounts receivable and allowance for credit losses Accounts receivable are reported at the invoiced amount less an allowance for credit losses. As of each balance sheet date, the Company evaluates its accounts receivable and establishes an allowance for credit losses 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 been received within the period agreed upon in the invoice. Accounts receivable are written off after all collection efforts have been exhausted. Recoveries of trade receivables previously written off are recorded when received.
Inventory	Inventory Inventory consists primarily of raw materials, which are recorded at the lower of cost and net realizable value using the standard cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts.
Property, equipment and leasehold improvements	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 in service are not depreciated until the asset is put into use. The Company follows ASC 350-40, Internal-Use Software, in accounting for internally developed software.
Goodwill	Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles—Goodwill and Other. Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. Goodwill is allocated to the Company's reporting units, which are determined by the discrete financial information available for the component and whether it is regularly reviewed by segment management. The Company's reporting units are the United States and Europe. Goodwill is not amortized. Goodwill is tested for impairment annually as of the first day of the fourth quarter, and is tested for impairment between annual tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired. An impairment charge for goodwill is recognized only when the estimated fair value of a reporting unit, including goodwill, is less than its carrying amount. In performing the goodwill impairment assessment, the Company may assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to, economic, market and industry conditions, cost factors and overall financial performance of the reporting unit. If after assessing these qualitative factors, the Company determines it is "more-likely-than-not" that the fair value is less than the carrying value, a quantitative assessment of goodwill is required. The quantitative impairment test requires judgment, including the identification of reporting units, the assignment of assets, liabilities and goodwill to reporting units, and the determination of fair value of each reporting unit. The impairment test requires the comparison of the fair value of each reporting unit with its carrying amount, including goodwill. If performing the quantitative impairment test, the Company would determine the fair value of its reporting units through the income approach by using discounted cash flow (DCF) analyses. Determining fair value requires the Company to make judgments about appropriate discount rates, perpetual growth rates and the amount and timing of expected future cash flows. The cash flows employed in the DCF analysis for each reporting unit are based on the reporting unit's budget, long-term business plan and recent operating performance. Discount rate assumptions are based on an assessment of the risk inherent in the future cash flows of the respective reporting unit and market conditions. Given the inherent uncertainty in determining the assumptions underlying a DCF analysis, actual results may differ from those used in the Company's valuations. For the fiscal year 2025 annual impairment assessment, the Company performed a qualitative assessment for the United States reporting unit, since it is the only reporting unit with goodwill, and determined there were no indicators of impairment and it was more likely than not that the fair value of the United States reporting unit exceeded its carrying value.
Other Intangible Assets	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 to 12 years on a straight line basis, and are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows generated by the asset. The amount of the impairment loss recorded is calculated by the excess of the asset’s carrying value over its fair value.
Accounting for long-lived assets	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 exist, the Company will prepare a projection of the undiscounted future cash flows of the specific assets to determine if the assets are recoverable. If impairment exists based on these projections, an adjustment will be made to reduce the carrying amount of the specific assets to fair value.
Revenue recognition	Revenue recognition The Company recognizes revenue for its internal and outsourced manufacturing operations in accordance with ASC 606, Revenue from Contracts with Customers. The Company manufactures custom parts to specific customer orders that have no alternative use to the Company, and the Company believes there is a legally enforceable right to payment for performance completed to date on internally and outsourced 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 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, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines standalone selling price based on the price charged to customers.
Leases	Leases The Company accounts for leases in accordance with ASC 842, Leases, which requires the balance sheet recognition of lease assets and lease liabilities by lessees for those leases classified as operating and finance leases. The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets, current operating lease liabilities and long-term operating lease liabilities in the Consolidated Balance Sheets and are recognized based on the present value of lease payments over the lease term at the commencement date. Finance leases are included in finance lease assets, current finance lease liabilities and long-term finance lease liabilities in the Consolidated Balance Sheets and are recognized based on the present value of lease payments over the lease term at commencement date. The majority of the Company’s leases do not provide an implicit rate of return, therefore, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease agreements that contain non-lease components, with the exception of certain real estate leases, are accounted for as a single lease component. The Company has operating leases for office space, manufacturing facilities and certain company vehicles and equipment and finance leases for certain company equipment and manufacturing facilities. The leases have remaining lease terms of less than one year to five years. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
Income taxes	Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes (ASC 740). Under this method, the Company determines tax assets and liabilities based upon the differences between the financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. The tax consequences of most events recognized in the financial statements are included in determining income taxes currently payable. However, because tax laws and financial accounting standards differ in their recognition and measurement of assets, liabilities and equity, revenues, expenses, gains and losses, differences arise between the amount of taxable income and pretax financial income for a year and between the tax basis of assets or liabilities and their reported amounts in the financial statements. Because the Company assumes that the reported amounts of assets and liabilities will be recovered and settled, respectively, a difference between the tax basis of an asset or liability and its reported amount in the balance sheet will result in a taxable or a deductible amount in some future years when the related liabilities are settled or the reported amounts of the assets are recovered, giving rise to a deferred tax asset or liability. The Company establishes a valuation allowance for any portion of its deferred tax assets that are not at a level of "more-likely-than-not" to be recognized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements by requiring that individual tax positions are recorded only when they meet a "more-likely-than-not" criterion. The Company recognizes the effect of income tax positions only if sustaining those positions is "more-likely-than-not". The Company records penalties and interest related to unrecognized tax benefits in income taxes in the Company’s Consolidated Statements of Income.
Stock-based compensation	Stock-based compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation (ASC 718). Under the fair value recognition provisions of ASC 718, the Company measures stock-based compensation cost at the grant date fair value and recognizes the compensation expense over the requisite service period, which is the vesting period, using a straight-line attribution method. The amount of stock-based compensation expense recognized during a period is based on the portion of the awards that are ultimately expected to vest. The Company accounts for forfeitures as they occur. Ultimately, the total expense recognized over the vesting period will only be for those awards that vest. The Company’s awards are not eligible to vest early in the event of retirement, however, the awards vest early in the event of a change in control. 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 costs Advertising is expensed as incurred and was approximately $15.3 million, $14.3 million and $13.8 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Research and development	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.
Foreign currency translation/transactions	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 and Recently issued accounting pronouncements not yet adopted	Recently adopted accounting pronouncements In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures, that enhances the transparency of income tax disclosures by expanding annual disclosure requirements related to the rate reconciliation and income taxes paid. The Company adopted this guidance on a prospective basis for its annual year ending December 31, 2025 and all interim periods thereafter. Prior period disclosures have not been adjusted to reflect the new disclosure requirements. See Note 15 for further detail. Recently issued accounting pronouncements not yet adopted In November 2024, the FASB issued ASU No. 2024-03 ("ASU 2024-03"), Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve disclosures about a public business entity's expenses, primarily through additional disaggregation of income statement expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating ASU 2024-03 to determine the impact on the Company's disclosures. In July 2025, the FASB issued ASU No. 2025-05 ("ASU 2025-05"), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivables and Contract Assets, which introduces a practical expedient for the application of the current expected credit loss model to current accounts receivables and contract assets. ASU 2025-05 is effective for annual and interim periods beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating ASU 2025-05 to determine the impact on the Company's financial statements and disclosures. In September 2025, the FASB issued ASU No. 2025-06 ("ASU 2025-06"), Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which updates the cost capitalization threshold for internal-use software development costs by removing all references to software project development stages and provides new guidance on how to evaluate whether the probable-to-complete recognition threshold has been met. ASU 2025-06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating ASU 2025-06 to determine the impact on the Company's financial statements and disclosures. In December 2025, the FASB issued ASU No. 2025-12 ("ASU 2025-12"), Codification Improvements, to make other incremental improvements to U.S. GAAP. The update represents changes to the Codification that clarify, correct errors in or make other improvements to a variety of topics that are intended to make it easier to understand and apply. The guidance is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. The Company is currently evaluating ASU 2025-12 to determine the impact on the Company's financial statements and disclosures.

Net Income Per Common Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Net Income Per Common Share

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 years ended December 31, 2025, 2024 and 2023 respectively, 285,731, 451,029 and 263,992 anti-dilutive options were excluded from the calculation of diluted weighted average shares outstanding.

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)	2025		2024		2023

Net income	$	21,241	$	16,593	$	17,220

Basic - weighted-average shares outstanding:	23,922,703		25,096,117		26,186,533
Effect of dilutive securities:
Employee stock options and other	322,496		116,061		36,965
Diluted - weighted-average shares outstanding:	24,245,199		25,212,178		26,223,498
Net income per share attributable to common shareholders:
Basic	$	0.89	$	0.66	$	0.66
Diluted	$	0.88	$	0.66	$	0.66

Stock-Based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 15,729	$ 16,999	$ 15,989
Cost of revenue
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	1,792	1,935	1,840
Marketing and sales
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	3,317	3,112	3,426
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	2,826	2,721	2,556
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	7,794	9,231	8,167
Stock options and other
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	14,376	15,691	14,550
Employee stock purchase plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 1,353	$ 1,308	$ 1,439

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2025	Feb. 17, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35435
Entity Registrant Name	Proto Labs, Inc.
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 0.9
Entity Common Stock, Shares Outstanding		23,775,160
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s definitive proxy statement relating to its 2026 annual meeting of shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. We expect to file such proxy statement with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Entity Central Index Key	0001443669
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Amendment Flag	false

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Line Items]
Impairments related to exit and closure of Germany business	$ 448	$ 2,333	$ 0
Advertising costs	15,300	14,300	13,800
Research and development	42,808	41,298	$ 40,135
Disposal Group, Not Discontinued Operations
Accounting Policies [Line Items]
Impairments related to exit and closure of Germany business	$ 200	$ 2,300
Building
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	39 years
Minimum
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	3 years
Useful Life (in years)	2 years
Operating lease term, remaining lease term (less than) (in years)	1 year
Minimum \| Machinery and equipment
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	3 years
Minimum \| Office furniture and equipment
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	3 years
Minimum \| Computer hardware and software
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	3 years
Minimum \| Building and land improvements
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	10 years
Maximum
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	39 years
Useful Life (in years)	12 years
Operating lease term, remaining lease term (less than) (in years)	5 years
Maximum \| Machinery and equipment
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	15 years
Maximum \| Office furniture and equipment
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	7 years
Maximum \| Computer hardware and software
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	5 years
Maximum \| Building and land improvements
Accounting Policies [Line Items]
Property, equipment, useful life (in years)	39 years

Stock-Based Compensation - Narrative (Details) - USD ($)			12 Months Ended
	May 20, 2025	May 23, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options, intrinsic value (less than during years ended December 31, 2024)			$ 1,100,000	$ 100,000	$ 0
Options outstanding, weighted-average remaining contractual term (in years)			6 years 4 months 24 days
Options outstanding, aggregate intrinsic value			$ 3,700,000
Options exercisable, weighted-average remaining contractual term (in years)			4 years 3 months 18 days
Options exercisable, aggregate intrinsic value			$ 1,300,000
Options vested, fair value			$ 2,300,000	$ 2,300,000	$ 1,800,000
Employee stock purchase plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Discount from market price (in percent)			15.00%
Offering period (in months)			6 months
Purchase price of common stock (in percent)			85.00%
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)			111,844	141,743
Average exercise price (in dollars per share)			$ 33.30	$ 27.91
Shares available for grant (in shares)			490,306
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based award, term (in years)			10 years
Stock-based award, vesting period (in years)			4 years
Stock based award, unrecognized compensation expense			$ 2,700,000
Stock based award, unrecognized compensation expense, period for recognition (in years)			2 years 9 months 18 days
Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based award, vesting period (in years)			4 years
Stock based award, unrecognized compensation expense			$ 16,600,000
Stock based award, unrecognized compensation expense, period for recognition (in years)			2 years 8 months 12 days
Performance Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based award, vesting period (in years)			3 years
Stock based award, unrecognized compensation expense			$ 6,600,000
Stock based award, unrecognized compensation expense, period for recognition (in years)			2 years
Percentage of target, capable of being earned and vesting, lower limit			0.00%
Percentage of target, capable of being earned and vesting, upper limit			200.00%
Long Term Incentive Plan 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for issuance pursuant to awards (in shares)	296,000	430,000
Stock-based award, term (in years)			10 years

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease cost	$ 1,763	$ 1,762
Finance lease cost:
Amortization of right-of-use assets	329	329
Interest on lease obligations	20	33
Variable lease cost	534	382
Total lease cost	$ 2,646	$ 2,506

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Reportable Segments

The following table summarizes selected financial information by reportable segments:



Year Ended December 31 2025,
(in thousands)
	United States		Europe		Corporate Unallocated		Total
Revenue	$	432,326	$	100,801	$	—	$	533,127
Segment expense1	321,681		117,568		67,677		506,926
Restructuring and transformation costs	—		—		749		749
Costs related to disposal and exit activities	—		342		—		342
Income (loss) from operations	$	110,645	$	(17,109)	$	(68,426)	$	25,110



Year Ended December 31 2024,
(in thousands)
	United States		Europe		Corporate Unallocated		Total
Revenue	$	396,192	$	104,698	$	—	$	500,890
Segment expense1	297,902		114,654		62,838		475,394
Costs related to disposal and exit activities	—		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
Costs related to disposal and exit activities	—		—		215		215
Income (loss) from operations	$	94,682	$	(12,528)	$	(53,987)	$	28,167

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 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.

Schedule of Long-Lived Assets by Geographic Areas

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


	December 31,

(in thousands)	2025		2024		2023
Long-lived assets:
United States	$	170,228	$	181,291	$	201,388
Europe	45,033		45,972		52,267

Total long-lived assets	$	215,261	$	227,263	$	253,655

Schedule of Expenditures for Additions to Long-lived Assets by Geographic Region



	Year Ended December 31,
(in thousands)	2025		2024		2023
Expenditures for additions to long-lived assets:
United States	$	13,205	$	6,372	$	24,553
Europe	1,637		2,797		3,563

Total expenditures for additions to long-lived assets	$	14,842	$	9,169	$	28,116

Schedule of Depreciation and Amortization by Geographic Region



	Year Ended December 31,
(in thousands)	2025		2024		2023
Depreciation and Amortization:
United States	$	27,574	$	28,767	$	30,667
Europe	5,981		6,878		6,861
Unallocated Corporate	259		163		—
Total depreciation and amortization	$	33,814	$	35,808	$	37,528

Leases - Narrative (Details)	Dec. 31, 2025 USD ($)
Leases [Abstract]
Lease not yet commenced	$ 0

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

ASC 820, Fair Value Measurement (ASC 820), defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

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 inputs. The Company's marketable securities consist of short-term and long-term agency, municipal, corporate and other debt securities. Fair value for the corporate debt securities is primarily determined based on quoted market prices (Level 1). Fair values for the U.S. municipal securities, U.S. government agency securities, certificates of deposit and U.S. treasury securities are primarily determined using dealer quotes or quoted market prices for similar securities (Level 2).

The following tables summarizes financial assets as of December 31, 2025 and 2024 measured at fair value on a recurring basis:



	December 31, 2025						December 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3

Financial Assets:
Cash and cash equivalents, excluding money market mutual fund	$	107,462	$	—	$	—	$	86,366	$	—	$	—
Money market mutual fund	3,364		—		—		2,705		—		—
Marketable securities	18,301		13,304		—		17,261		14,531		—
Total	$	129,127	$	13,304	$	—	$	106,332	$	14,531	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

Income Taxes - Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ 47,066	$ 39,386	$ 38,099
Foreign	(16,004)	(14,714)	(10,147)
Income before income taxes	$ 31,062	$ 24,672	$ 27,952

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Inventory

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Inventory

Inventory consists primarily of raw materials, which are recorded at the lower of cost and net realizable value using the standard cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts.

The Company’s inventory consists of the following:



	December 31,
(in thousands)	2025		2024

Total inventory	$	15,441	$	12,989
Allowance for obsolescence	(1,040)		(684)
Inventory, net of allowance	$	14,401	$	12,305

Revenue

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

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.

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 value of unbilled receivables related to the performance on manufactured parts not yet completed as of December 31, 2025 and 2024 was $12.1 million and $10.1 million, respectively, recorded within accounts receivable, net of allowance for credit losses. The value of unsatisfied performance obligations for contracts with an original expected length of one year or less as of December 31, 2025 and 2024 was $9.6 million and $8.7 million, respectively, recorded within accrued liabilities.

Revenue by geographic region for the years ended December 31, 2025, 2024 and 2023 was as follows:



	Year Ended December 31,
(in thousands)	2025		2024		2023
Revenue:
United States	$	432,326	$	396,192	$	396,821
Europe	100,801		104,698		107,056
Total revenue	$	533,127	$	500,890	$	503,877

Revenue by product line for the years ended December 31, 2025, 2024 and 2023 was as follows:



	Year Ended December 31,
(in thousands)	2025		2024		2023
Revenue:
Injection Molding	$	191,521	$	194,215	$	203,941
CNC Machining	243,327		206,887		198,222
3D Printing	80,298		83,767		84,291
Sheet Metal	17,160		15,265		16,540
Other Revenue	821		756		883
Total revenue	$	533,127	$	500,890	$	503,877

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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

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-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Litigation	12 Months Ended
Litigation	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of its business. Although the results of litigation and claims cannot be predicted with certainty, the Company does not believe it is a party to any litigation the outcome of which, if determined adversely, would individually or in the aggregate be reasonably expected to have a material adverse effect on its business.

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 30.1	$ 32.1	$ 31.6

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2025

Regulated Operations [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Loss

The following table presents the changes in accumulated other comprehensive loss balances for the years ended December 31, 2025, 2024 and 2023, respectively:



	Year Ended December 31,
(in thousands)	2025		2024		2023

Balance at beginning of period	$	(27,984)	$	(28,013)	$	(34,355)
Foreign currency translation adjustments
Other comprehensive income (loss) before reclassifications	6,813		(228)		1,459
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		3,906
Net current-period other comprehensive income (loss)	6,813		(228)		5,365
Net unrealized gains on investments in securities
Other comprehensive income before reclassifications	195		257		977
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—
Net current-period other comprehensive income	195		257		977
Balance at end of period	$	(20,976)	$	(27,984)	$	(28,013)

Stock-Based Compensation - Stock Activity (Details)		12 Months Ended
Stock-Based Compensation - Stock Activity (Details)	May 23, 2025 performancePeriod shares	Dec. 31, 2025 $ / shares shares	Dec. 31, 2024 $ / shares shares	Dec. 31, 2023 $ / shares shares
Restricted Stock Awards
Stock Awards
Beginning balance (in shares)		763,261	653,465	478,596
Granted (in shares)		312,953	377,961	410,682
Restrictions lapsed (in shares)		(233,612)	(195,831)	(137,053)
Forfeited (in shares)		(146,526)	(72,334)	(98,760)
Ending balance (in shares)		696,076	763,261	653,465
Weighted- Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares		$ 38.25	$ 45.89	$ 70.36
Granted (in dollars per share) \| $ / shares		40.69	33.50	32.46
Restrictions lapsed (in dollars per share) \| $ / shares		40.19	54.52	79.61
Forfeited (in dollars per share) \| $ / shares		36.41	38.40	61.25
Ending balance (in dollars per share) \| $ / shares		$ 39.07	$ 38.25	$ 45.89
Stock-based award, vesting period (in years)		4 years
Performance Stock Awards
Stock Awards
Beginning balance (in shares)		180,173	107,097	35,802
Granted (in shares)		160,939	79,436	71,295
Restrictions lapsed (in shares)		(32,977)	0	0
Performance change (in shares)		0	(2,772)	0
Forfeited (in shares)		(76,176)	(3,588)	0
Ending balance (in shares)		231,959	180,173	107,097
Weighted- Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares		$ 60.75	$ 74.08	$ 77.91
Granted (in dollars per share) \| $ / shares		59.61	48.20	57.79
Restrictions lapsed (in dollars per share) \| $ / shares		96.41	0	0
Performance change (in dollars per share) \| $ / shares		0	227.14	0
Forfeited (in dollars per share) \| $ / shares		56.74	52.18	0
Ending balance (in dollars per share) \| $ / shares		$ 56.21	$ 60.75	$ 74.08
Percentage of target, capable of being earned and vesting, lower limit		0.00%
Percentage of target, capable of being earned and vesting, upper limit		200.00%
Stock-based award, vesting period (in years)		3 years
Performance Stock Awards \| Inducement Awards
Stock Awards
Granted (in shares)	54,320
Performance Stock Awards \| Inducement Awards, Market Condition
Stock Awards
Granted (in shares)	27,160
Performance Stock Awards \| Inducement Awards, Performance Condition
Stock Awards
Granted (in shares)	27,160
Weighted- Average Grant Date Fair Value Per Share
Percentage of target, capable of being achieved during performance periods, lower	0.00%
Percentage of target, capable of being achieved during performance periods, upper limit	100.00%
Number of performance periods \| performancePeriod	2
Award performance period (in years)	6 months
Percentage of target, capable of being earned and vesting, lower limit	0.00%
Percentage of target, capable of being earned and vesting, upper limit	200.00%
Stock-based award, vesting period (in years)	3 years

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statements of Operations:
Revenue	$ 533,127	$ 500,890	$ 503,877
Cost of revenue	295,990	277,690	281,884
Gross profit	237,137	223,200	221,993
Operating expenses
Marketing and sales	98,315	92,073	87,688
Research and development	42,808	41,298	40,135
General and administrative	69,813	64,333	65,788
Restructuring and transformation costs	749	0	0
Costs related to disposal and exit activities	342	5,585	215
Total operating expenses	212,027	203,289	193,826
Income from operations	25,110	19,911	28,167
Other income (expense), net	5,952	4,761	(215)
Income before income taxes	31,062	24,672	27,952
Provision for income taxes	9,821	8,079	10,732
Net income	$ 21,241	$ 16,593	$ 17,220
Net income per share:
Basic (in dollars per share)	$ 0.89	$ 0.66	$ 0.66
Diluted (in dollars per share)	$ 0.88	$ 0.66	$ 0.66
Shares used to compute net income per share:
Basic (in shares)	23,922,703	25,096,117	26,186,533
Diluted (in shares)	24,245,199	25,212,178	26,223,498
Other Comprehensive Income, net of tax
Foreign currency translation adjustments	$ 6,813	$ (228)	$ 5,365
Net unrealized gains on investments in securities	195	257	977
Comprehensive income	$ 28,249	$ 16,622	$ 23,562

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets other than goodwill for the years ended December 31, 2025 and 2024 were as follows:



	Year Ended December 31, 2025						Year Ended December 31, 2024							Weighted Average Useful Life
(in thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net		Useful Life (in years)	Remaining (in years)

Non-compete agreement	$	850	$	(843)	$	7	$	819	$	(703)	$	116	2.0 - 5.0	0.1
Software technology	13,229		(10,493)		2,736		13,229		(9,123)		4,106		10.0	2.0
Software platform	27,110		(11,241)		15,869		25,657		(8,457)		17,200		12.0	7.1
Total intangible assets	$	41,189	$	(22,577)	$	18,612	$	39,705	$	(18,283)	$	21,422

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows:



(in thousands)	Estimated Amortization Expense
2026	$	3,616
2027	3,609
2028	2,240
2029	2,240
2030	2,240
Thereafter	4,667
Total estimated amortization expense	$	18,612

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

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)	2025		2024		2023

Domestic	$	47,066	$	39,386	$	38,099
Foreign	(16,004)		(14,714)		(10,147)
Total	$	31,062	$	24,672	$	27,952

Schedule of Components of Income Tax Expense (Benefit)

Significant components of the provision for income taxes for the following periods are as follows:



	Year Ended December 31,
(in thousands)	2025		2024		2023

Current:
Federal	$	6,031	$	11,970	$	15,717
State	912		1,451		2,418
Foreign	—		(165)		34
Deferred
Federal	4,161		(4,606)		(8,202)
State	(231)		(1,291)		(385)
Foreign	(2,974)		(3,736)		1,379
Valuation Allowance	1,922		4,456		(229)
Total	$	9,821	$	8,079	$	10,732

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory income tax rate to the effective tax rate for fiscal year 2025, after the prospective adoption of ASU 2023-09 is as follows:



	Year Ended December 31,
	2025

	Amount		Percent
Federal tax statutory rate	$	6,524	21.0	%
State tax (net of federal benefit)1	877		2.8
Foreign tax effects
Germany
Valuation allowance	1,487		4.8
Foreign tax rate differential	(384)		(1.2)
Netherlands
Valuation allowance	1,379		4.4
Other	(256)		(0.8)
Other foreign jurisdictions	(46)		(0.1)
Tax credits
Research and development credit	(547)		(1.8)
Tax reserves	(282)		(0.9)
Nontaxable or nondeductible items
Share based compensation	304		1.0
Executive compensation	733		2.4
Other adjustments	32		—
Total	$	9,821	31.6	%

1 During the year ended December 31, 2025, the tax effect in this category was primarily driven by state taxes in California (greater than 50 percent).

A reconciliation of the federal statutory income tax rate to the effective tax rate for fiscal years 2024 and 2023 prior to the adoption of ASU 2023-09 is as follows:



	Year Ended December 31,
	2024		2023

Federal tax statutory rate	21.0	%	21.0	%
State tax (net of federal benefit)	2.5		3.5
Share based compensation	4.7		6.0
Valuation allowance against deferred tax assets	16.6		(2.4)

Research and development credit	(4.1)		(3.8)
Foreign rate differential	(3.7)		(1.6)
Tax reserves	(0.2)		1.9
Provision to return difference	(0.2)		(0.2)
Unrealized foreign exchange losses	—		2.9
Revaluation of deferred tax liability	(3.2)		1.1
Closure of Japan branch net operating loss reversal	—		11.1
Miscellaneous	(0.7)		(1.1)
Total	32.7	%	38.4	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:



	December 31,
(in thousands)	2025		2024

Deferred tax assets:
Accrued expenses	$	3,339	$	1,658
Section 174 expenses	7,191		15,058
Leases	797		897
Stock options and other equity	3,494		5,402
Inventories	341		216
Research and development credit	2,937		2,760
Other assets	1,455		1,212
Net operating loss	23,037		19,738
Less valuation allowance	(22,296)		(21,782)
Total deferred tax assets	20,295		25,159
Deferred tax liabilities:
Depreciation	(18,030)		(21,505)
Goodwill	(16,495)		(14,449)
Intangible assets	(1,571)		(1,873)
Leases	(797)		(897)
Total deferred tax liabilities	(36,893)		(38,724)
Net deferred tax liability	$	(16,598)	$	(13,565)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	Year Ended December 31,
	2025		2024

Balance at beginning of period	$	3,370	$	3,616
Additions for tax positions of current year	290		533
Additions for tax positions of prior years	20		—
Decrease related to the expiration of statutes of limitations	(623)		(395)
Reduction for tax positions of prior years	—		(384)
Balance at period end	$	3,057	$	3,370

Schedule of Reconciliation of Cash Taxes Paid

A reconciliation of cash taxes paid (net of refunds received). All jurisdictions in which cash taxes paid (net of refunds received) were equal to or greater than five percent of total income taxes paid are included below, after the prospective adoption of ASU 2023-09 is as follows:



	Year Ended December 31,
	2025

Federal	$	5,750
State:
California	675
All states representing less than five percent of total	303
Total State	978
Foreign	16
Total	$	6,744

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of period	$ 3,370	$ 3,616
Additions for tax positions of current year	290	533
Additions for tax positions of prior years	20	0
Decrease related to the expiration of statutes of limitations	(623)	(395)
Reduction for tax positions of prior years	0	(384)
Balance at period end	$ 3,057	$ 3,370

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, period increase (decrease)	$ 0	$ 0
Amortization expense for intangible assets	3,700,000	3,700,000	$ 5,900,000
Foreign currency translation adjustment	$ 500,000	$ 2,200,000	$ 1,300,000

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Provision for income taxes	$ 9,821,000	$ 8,079,000	$ 10,732,000
Effective income tax rate reconciliation (in percent)	31.60%	32.70%	38.40%
Effective income tax rate, increase (decrease) during period (in percent)	(1.10%)
Undistributed earnings	$ 0
Operating loss carryforwards	23,000,000.0
Research and development credit	2,937,000	$ 2,760,000
Deferred tax assets, valuation allowance	22,296,000	21,782,000
Unrecognized tax benefits	$ 3,057,000	$ 3,370,000	$ 3,616,000
United Kingdom
Income Tax Contingency [Line Items]
Operating loss carryforwards, percentage of taxable income (in percent)	50.00%
Germany
Income Tax Contingency [Line Items]
Operating loss carryforwards, percentage of taxable income (in percent)	60.00%
Netherlands
Income Tax Contingency [Line Items]
Operating loss carryforwards, percentage of taxable income (in percent)	50.00%
Minnesota
Income Tax Contingency [Line Items]
Research and development credit	$ 3,700,000
R&D credit expiration period	15 years

Nature of Business

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Business

Organization and business

Proto Labs, Inc. and its subsidiaries (Proto Labs, the Company, we, us, or our) is a digital manufacturer of parts. The Company utilizes injection molding, computer numerical control (CNC) machining, 3D printing and sheet metal fabrication to manufacture custom parts for its customers. The Company's customers conduct nearly all their business over the internet. The Company targets its products to the millions of product developers and engineers who use three-dimensional computer-aided design (3D CAD) software to design products across a diverse range of end-markets, to the procurement and supply chain professionals seeking to easily and efficiently source custom parts on-demand, and to a wide variety of customers seeking to purchase low-volume custom parts. The Company has established operations in the United States and Europe. On October 21, 2024, the Company's board of directors approved a plan related to the Company's manufacturing facilities in Germany. The plan included the closure of the Company's injection molding manufacturing facility in Eschenlohe, Germany, and the discontinuation of Direct Metal Laser Sintering 3D printing services through its 3D printing facility in Putzbrunn, Germany. The Company substantially completed the plan in the fourth quarter of 2025. The Company will continue offering all its manufacturing services to customers across Europe, including injection molding and metal 3D printing. Through the acquisition of Hubs in 2021, the Company provides its customers access to a global network of premium manufacturing partners who reside across North America, Europe and Asia, complementing its in-house manufacturing. Proto Labs, Inc. is headquartered in Maple Plain, Minnesota. The Company’s subsidiaries are:



Name			Location

PL-US International LLC			United States
Hubs Manufacturing Inc.			United States
3D Hubs Manufacturing LLC			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 Hubs B.V.			Netherlands

Property and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total	$ 503,093	$ 489,591
Accumulated depreciation and amortization	(287,832)	(262,328)
Property and equipment, net	215,261	227,263	$ 253,655
Land
Property, Plant and Equipment [Line Items]
Total	16,051	15,596
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total	140,689	137,461
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	235,948	236,675
Computer hardware and software
Property, Plant and Equipment [Line Items]
Total	92,011	89,699
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total	4,727	4,528
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 13,667	$ 5,632

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2025
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company maintains a 401(k) retirement plan that covers employees in the United States. Under the plan, a full-time or regular part-time (over 20 hours/week) employee becomes a participant after completing three months of employment. Employees may elect to contribute up to 50 percent of regular gross pay, subject to federal law limits on the dollar amount that participants may contribute to the plan, each calendar year. The Company matches part of the employee contributions and may make a discretionary contribution to the plan. Total employer contributions were approximately $4.5 million, $4.3 million and $4.6 million for the years ended December 31, 2025, 2024 and 2023, respectively. The Company also sponsors defined contribution retirement plans that covers the employees in the United Kingdom and the Netherlands. Total employer contributions in the United Kingdom were approximately $0.5 million in each of the years ended December 31, 2025, 2024 and 2023, respectively. Total employer contributions in the Netherlands were approximately $0.7 million for the year ended December 31, 2025 and $0.6 million in each of the years December 31, 2024 and 2023 respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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-Subparagraph (d)(i)
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+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 2,668	$ 1,975
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	23,627,422	24,226,088
Common stock, outstanding (in shares)	23,627,422	24,226,088

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consists of the following:



	December 31,
(in thousands)	2025		2024

Land	$	16,051	$	15,596
Buildings and improvements	140,689		137,461
Machinery and equipment	235,948		236,675
Computer hardware and software	92,011		89,699
Leasehold improvements	4,727		4,528
Construction in progress	13,667		5,632
Total	503,093		489,591
Accumulated depreciation and amortization	(287,832)		(262,328)
Property and equipment, net	$	215,261	$	227,263

Marketable Securities

12 Months Ended

Dec. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

The Company invests in short-term and long-term agency, municipal, corporate and other debt securities. As of December 31, 2025 and 2024, the securities are categorized as available-for-sale and are recorded at fair value.

Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2025 and 2024 is as follows:



	December 31, 2025
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. government agency securities	$	7,500	$	9	$	(4)	$	7,505
Corporate debt securities	14,424		9		(7)		14,426
U.S. municipal securities	8,631		39		—		8,670
U.S. treasury bonds	1,000		4		—		1,004
Total marketable securities	$	31,555	$	61	$	(11)	$	31,605



	December 31, 2024
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. government agency securities	$	8,323	$	—	$	(22)	$	8,301
Corporate debt securities	15,852		—		(82)		15,770
U.S. municipal securities	6,762		—		(38)		6,724
U.S. treasury bonds	1,000		—		(3)		997
Total marketable securities	$	31,937	$	—	$	(145)	$	31,792

Fair values for the corporate debt securities are primarily determined based on quoted market prices (Level 1). Fair values for the U.S. government agency securities, U.S. municipal securities, commercial paper and certificates of deposit are primarily determined using dealer quotes or quoted market prices for similar securities (Level 2).

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, 2025 balance of available-for-sale debt securities by contractual maturity is shown in the following table at fair value. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.



(in thousands)	December 31, 2025

Due in one year or less	$	17,297
Due after one year through five years	14,308
Total marketable securities	$	31,605

Financing Obligations	12 Months Ended
Financing Obligations	Dec. 31, 2025
Debt Disclosure [Abstract]
Financing Obligations	Financing ObligationsThe Company had no financing obligations as of December 31, 2025 and 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Revenue (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Revenue from External Customers by Geographic Areas

Revenue by geographic region for the years ended December 31, 2025, 2024 and 2023 was as follows:



	Year Ended December 31,
(in thousands)	2025		2024		2023
Revenue:
United States	$	432,326	$	396,192	$	396,821
Europe	100,801		104,698		107,056
Total revenue	$	533,127	$	500,890	$	503,877

Schedule of Disaggregation of Revenue

Revenue by product line for the years ended December 31, 2025, 2024 and 2023 was as follows:



	Year Ended December 31,
(in thousands)	2025		2024		2023
Revenue:
Injection Molding	$	191,521	$	194,215	$	203,941
CNC Machining	243,327		206,887		198,222
3D Printing	80,298		83,767		84,291
Sheet Metal	17,160		15,265		16,540
Other Revenue	821		756		883
Total revenue	$	533,127	$	500,890	$	503,877

Segment Reporting - Narrative (Details)	12 Months Ended
Segment Reporting - Narrative (Details)	Dec. 31, 2025 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Marketable Securities - Short-Term and Long-Term Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	$ 31,555	$ 31,937
Unrealized Gains	61	0
Unrealized Losses	(11)	(145)
Fair Value	31,605	31,792
U.S. government agency securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	7,500	8,323
Unrealized Gains	9	0
Unrealized Losses	(4)	(22)
Fair Value	7,505	8,301
Corporate debt securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	14,424	15,852
Unrealized Gains	9	0
Unrealized Losses	(7)	(82)
Fair Value	14,426	15,770
U.S. municipal securities
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	8,631	6,762
Unrealized Gains	39	0
Unrealized Losses	0	(38)
Fair Value	8,670	6,724
U.S. treasury bonds
Debt Securities, Available-for-Sale [Line Items]
Amortized Cost	1,000	1,000
Unrealized Gains	4	0
Unrealized Losses	0	(3)
Fair Value	$ 1,004	$ 997

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Revenue - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 12.1	$ 10.1
Unsatisfied performance obligation	$ 9.6	$ 8.7

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The following table summarizes stock-based compensation expense for the years ended December 31, 2025, 2024 and 2023, respectively:



	Year Ended December 31,
(in thousands)	2025		2024		2023

Stock options and other	$	14,376	$	15,691	$	14,550
Employee stock purchase plan	1,353		1,308		1,439
Total stock-based compensation expense	$	15,729	$	16,999	$	15,989

Cost of revenue	$	1,792	$	1,935	$	1,840
Operating expenses:
Marketing and sales	3,317		3,112		3,426
Research and development	2,826		2,721		2,556
General and administrative	7,794		9,231		8,167

Total stock-based compensation expense	$	15,729	$	16,999	$	15,989

Schedule of Assumptions Used in Black-Scholes Option Pricing Model

The following table provides the assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2025, 2024 and 2023:



	Year Ended December 31,
	2025	2024	2023

Risk-free interest rate	3.80 - 4.17%	4.28 - 4.30%	3.55 - 4.55%
Expected life (years)	6.25	6.25	2.00 - 6.25
Expected volatility	52.05 - 52.99%	50.62 - 53.17%	49.23 - 55.92%
Expected dividend yield	0%	0%	0%
Weighted average grant date fair value	$22.01	$18.17	$16.36

Schedule of Summarizes Stock Option Activity and Weighted Average Exercise Price

The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2025, 2024 and 2023:



	Stock Options	Weighted- Average Exercise Price

Options outstanding at January 1, 2023	263,992	$	79.07
Granted	186,804	33.36
Exercised	—	—
Cancelled	(63,635)	62.44
Expired	(15,848)	55.67
Options outstanding at December 31, 2023	371,313	59.92
Granted	140,405	33.44
Exercised	(1,936)	32.13
Cancelled	(59,552)	61.83
Expired	(5,094)	67.78
Options outstanding at December 31, 2024	445,136	51.34
Granted	147,664	39.73
Exercised	(78,783)	34.37
Cancelled	(137,449)	40.09
Expired	(16,354)	87.74
Options outstanding at December 31, 2025	360,214	$	52.94

Exercisable at December 31, 2025	186,198	$	67.55

Schedule of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2025:



	Options Outstanding, Vested and Expected to Vest			Options Exercisable
Range of Exercise Prices	Number Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price ($)	Number Exercisable	Weighted Average Exercise Price ($)

$32.13 to $35.33	134,500	7.27	33.31	63,588	33.41
$35.34 to $43.97	116,018	8.69	39.11	22,952	39.37
$43.98 to $180.46	109,696	2.85	91.62	99,658	95.83

Schedule of Restricted Stock Activity

The following table summarizes restricted stock activity for the years ended December 31, 2025, 2024 and 2023:



	Restricted Stock Awards	Weighted- Average Grant Date Fair Value Per Share

Restricted stock at January 1, 2023	478,596	$	70.36
Granted	410,682	32.46
Restrictions lapsed	(137,053)	79.61
Forfeited	(98,760)	61.25
Restricted stock at December 31, 2023	653,465	45.89
Granted	377,961	33.50
Restrictions lapsed	(195,831)	54.52
Forfeited	(72,334)	38.40
Restricted stock at December 31, 2024	763,261	38.25
Granted	312,953	40.69
Restrictions lapsed	(233,612)	40.19
Forfeited	(146,526)	36.41
Restricted stock at December 31, 2025	696,076	$	39.07

Schedule of Performance Stock Activity

The following table summarizes performance stock activity for the years ended December 31, 2025, 2024 and 2023:



	Performance Stock Awards	Weighted- Average Grant Date Fair Value Per Share

Performance stock at January 1, 2023	35,802	$	77.91
Granted	71,295	57.79
Restrictions lapsed	—	—
Performance change	—	—
Forfeited	—	—
Performance stock at December 31, 2023	107,097	74.08
Granted	79,436	48.20
Restrictions lapsed	—	—
Performance change	(2,772)	227.14
Forfeited	(3,588)	52.18
Performance stock at December 31, 2024	180,173	60.75
Granted 1	160,939	59.61
Restrictions lapsed	(32,977)	96.41
Performance change	—	—
Forfeited	(76,176)	56.74
Performance stock at December 31, 2025	231,959	$	56.21

1 Includes a target number of 54,320 PSUs granted as part of the May 23, 2025, Inducement Awards, 27,160 of which have the same market condition as the PSUs granted under the 2022 Plan as described above, and 27,160 of which also include a performance condition with anywhere between 0 percent and 100 percent of the target number capable of being achieved during two six-month performance periods depending on revenue and then anywhere between 0 percent and 200 percent of such achieved PSUs capable of being earned and vesting during a three-year performance period depending on the Company's three-year cumulative total shareholder return performance relative to an index and the award recipient's continued employment.

Schedule of Assumptions Used to Estimate Fair Value of the ESPP

The following table presents the assumptions used to estimate the fair value of the ESPP during the years ended December 31, 2025, 2024 and 2023:



	Year Ended December 31,
	2025	2024	2023

Risk-free interest rate	3.67 - 4.29%	4.29 - 5.16%	4.60 - 5.16%
Expected life (months)	6.00	6.00	6.00
Expected volatility	39.13 - 65.60%	30.97 - 65.60%	47.38 - 67.84%
Expected dividend yield	0%	0%	0%

Fair Value Measurements - Schedule of Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Financial Assets:
Marketable securities	$ 31,605	$ 31,792
Level 1
Financial Assets:
Marketable securities	18,301	17,261
Total	129,127	106,332
Level 1 \| Cash and cash equivalents, excluding money market mutual fund
Financial Assets:
Cash and cash equivalents	107,462	86,366
Level 1 \| Money market mutual fund
Financial Assets:
Cash and cash equivalents	3,364	2,705
Level 2
Financial Assets:
Marketable securities	13,304	14,531
Total	13,304	14,531
Level 2 \| Cash and cash equivalents, excluding money market mutual fund
Financial Assets:
Cash and cash equivalents	0	0
Level 2 \| Money market mutual fund
Financial Assets:
Cash and cash equivalents	0	0
Level 3
Financial Assets:
Marketable securities	0	0
Total	0	0
Level 3 \| Cash and cash equivalents, excluding money market mutual fund
Financial Assets:
Cash and cash equivalents	0	0
Level 3 \| Money market mutual fund
Financial Assets:
Cash and cash equivalents	$ 0	$ 0

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Segment Reporting - Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 533,127	$ 500,890	$ 503,877
Segment expense	506,926	475,394	475,495
Restructuring and transformation costs	749
Costs related to disposal and exit activities	342	5,585	215
Income from operations	25,110	19,911	28,167
Corporate Unallocated
Segment Reporting Information [Line Items]
Revenue	0	0	0
Segment expense	67,677	62,838	53,772
Restructuring and transformation costs	749
Costs related to disposal and exit activities	0	0	215
Income from operations	(68,426)	(62,838)	(53,987)
United States
Segment Reporting Information [Line Items]
Revenue	432,326	396,192	396,821
United States \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	432,326	396,192	396,821
Segment expense	321,681	297,902	302,139
Restructuring and transformation costs	0
Costs related to disposal and exit activities	0	0	0
Income from operations	110,645	98,290	94,682
Europe
Segment Reporting Information [Line Items]
Revenue	100,801	104,698	107,056
Europe \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	100,801	104,698	107,056
Segment expense	117,568	114,654	119,584
Restructuring and transformation costs	0
Costs related to disposal and exit activities	342	5,585	0
Income from operations	$ (17,109)	$ (15,541)	$ (12,528)

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]
Gross	$ 41,189	$ 39,705
Accumulated Amortization	(22,577)	(18,283)
Net	$ 18,612	21,422
Minimum
Intangible Asset, Acquired, Finite-Lived [Line Items]
Useful Life (in years)	2 years
Maximum
Intangible Asset, Acquired, Finite-Lived [Line Items]
Useful Life (in years)	12 years
Non-compete agreement
Intangible Asset, Acquired, Finite-Lived [Line Items]
Gross	$ 850	819
Accumulated Amortization	(843)	(703)
Net	$ 7	116
Weighted Average Useful Life Remaining (in years)	1 month 6 days
Non-compete agreement \| Minimum
Intangible Asset, Acquired, Finite-Lived [Line Items]
Useful Life (in years)	2 years
Non-compete agreement \| Maximum
Intangible Asset, Acquired, Finite-Lived [Line Items]
Useful Life (in years)	5 years
Software technology
Intangible Asset, Acquired, Finite-Lived [Line Items]
Gross	$ 13,229	13,229
Accumulated Amortization	(10,493)	(9,123)
Net	$ 2,736	4,106
Useful Life (in years)	10 years
Weighted Average Useful Life Remaining (in years)	2 years
Software platform
Intangible Asset, Acquired, Finite-Lived [Line Items]
Gross	$ 27,110	25,657
Accumulated Amortization	(11,241)	(8,457)
Net	$ 15,869	$ 17,200
Useful Life (in years)	12 years
Weighted Average Useful Life Remaining (in years)	7 years 1 month 6 days

Income Taxes - Reconciliation of Cash Taxes Paid (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]
Federal	$ 5,750
Total State	978
Foreign	16
Total	6,744
California
Income Tax Paid, by Individual Jurisdiction [Line Items]
Total State	675
All states representing less than five percent of total
Income Tax Paid, by Individual Jurisdiction [Line Items]
Total State	$ 303

Nature of Business (Tables)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Subsidiaries

The Company’s subsidiaries are:



Name			Location

PL-US International LLC			United States
Hubs Manufacturing Inc.			United States
3D Hubs Manufacturing LLC			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 Hubs B.V.			Netherlands

Stock-Based Compensation - Stock Options Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding, Vested and Expected to Vest, Number Outstanding (in shares)	360,214	445,136	371,313	263,992
Options Outstanding, Vested and Expected to Vest, Weighted Average Exercise Price (in dollars per share)	$ 52.94	$ 51.34	$ 59.92	$ 79.07
Range One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	32.13
Range of Exercise Prices, upper range limit (in dollars per share)	$ 35.33
Options Outstanding, Vested and Expected to Vest, Number Outstanding (in shares)	134,500
Options Outstanding, Vested and Expected to Vest, Weighted Average Remaining Contractual Life (in years)	7 years 3 months 7 days
Options Outstanding, Vested and Expected to Vest, Weighted Average Exercise Price (in dollars per share)	$ 33.31
Options Exercisable, Number Exercisable (in shares)	63,588
Options Exercisable, Weighted Average Exercise Price (in dollar per share)	$ 33.41
Range Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	35.34
Range of Exercise Prices, upper range limit (in dollars per share)	$ 43.97
Options Outstanding, Vested and Expected to Vest, Number Outstanding (in shares)	116,018
Options Outstanding, Vested and Expected to Vest, Weighted Average Remaining Contractual Life (in years)	8 years 8 months 8 days
Options Outstanding, Vested and Expected to Vest, Weighted Average Exercise Price (in dollars per share)	$ 39.11
Options Exercisable, Number Exercisable (in shares)	22,952
Options Exercisable, Weighted Average Exercise Price (in dollar per share)	$ 39.37
Range Three
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	43.98
Range of Exercise Prices, upper range limit (in dollars per share)	$ 180.46
Options Outstanding, Vested and Expected to Vest, Number Outstanding (in shares)	109,696
Options Outstanding, Vested and Expected to Vest, Weighted Average Remaining Contractual Life (in years)	2 years 10 months 6 days
Options Outstanding, Vested and Expected to Vest, Weighted Average Exercise Price (in dollars per share)	$ 91.62
Options Exercisable, Number Exercisable (in shares)	99,658
Options Exercisable, Weighted Average Exercise Price (in dollar per share)	$ 95.83

Segment Reporting - Depreciation And Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 33,814	$ 35,808	$ 37,528
Operating Segments \| United States
Segment Reporting Information [Line Items]
Total depreciation and amortization	27,574	28,767	30,667
Operating Segments \| Europe
Segment Reporting Information [Line Items]
Total depreciation and amortization	5,981	6,878	6,861
Corporate Unallocated
Segment Reporting Information [Line Items]
Total depreciation and amortization	$ 259	$ 163	$ 0

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables summarizes financial assets as of December 31, 2025 and 2024 measured at fair value on a recurring basis:



	December 31, 2025						December 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3

Financial Assets:
Cash and cash equivalents, excluding money market mutual fund	$	107,462	$	—	$	—	$	86,366	$	—	$	—
Money market mutual fund	3,364		—		—		2,705		—		—
Marketable securities	18,301		13,304		—		17,261		14,531		—
Total	$	129,127	$	13,304	$	—	$	106,332	$	14,531	$	—

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have an enterprise-wide information security program designed to identify, protect, detect and respond to and manage reasonably foreseeable cybersecurity risks and threats. To protect our information systems from cybersecurity threats, we use various security tools that help prevent, identify, escalate, investigate, resolve and recover from identified vulnerabilities and security incidents in a timely manner. These include, but are not limited to, internal reporting, and monitoring and detection tools to allow our information security team members to assist us in identifying vulnerabilities in our systems before they are exploited by malicious threat actors. Our information security activities are overseen by our Chief Technology & AI Officer, who has over 25 years of experience in information technology, including security, encryption, system design, programming and compliance, and leaders from Information Technology, Legal and Finance teams, who have an average of 20 years of experience in information technology, security, compliance and auditing. We also maintain a third party security program to identify, prioritize, assess, mitigate and remediate third party risks; however, we rely on the third parties we use to implement security programs commensurate with their risk, and we cannot ensure in all circumstances that their efforts will be successful. As part of our cybersecurity risk management system, our information security team tracks and logs privacy and security incidents across our Company, our vendors, and other third-party service providers to remediate and resolve any such incidents. Significant incidents are reviewed regularly by a cross-functional working group including legal, SEC regulation and information security professionals to determine whether further escalation is appropriate. Any incident assessed as potentially being or potentially becoming material is immediately escalated for further assessment, and then reported to designated members of our senior management. We consult with outside counsel as appropriate, including on materiality analysis and disclosure matters, and our senior management makes the final materiality determinations and disclosure and other compliance decisions.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have an enterprise-wide information security program designed to identify, protect, detect and respond to and manage reasonably foreseeable cybersecurity risks and threats. To protect our information systems from cybersecurity threats, we use various security tools that help prevent, identify, escalate, investigate, resolve and recover from identified vulnerabilities and security incidents in a timely manner.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The board oversees our annual enterprise risk assessment, where we assess key risks within the Company, including security and technology risks and cyber security threats. The audit committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full board for consideration. Our executive leadership team regularly discusses cyber risks and trends and, should they arise, any material incidents with the audit committee.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The audit committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full board for consideration. Our executive leadership team regularly discusses cyber risks and trends and, should they arise, any material incidents with the audit committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The audit committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full board for consideration. Our executive leadership team regularly discusses cyber risks and trends and, should they arise, any material incidents with the audit committee.
Cybersecurity Risk Role of Management [Text Block]	Our information security activities are overseen by our Chief Technology & AI Officer, who has over 25 years of experience in information technology, including security, encryption, system design, programming and compliance, and leaders from Information Technology, Legal and Finance teams, who have an average of 20 years of experience in information technology, security, compliance and auditing. Any incident assessed as potentially being or potentially becoming material is immediately escalated for further assessment, and then reported to designated members of our senior management. We consult with outside counsel as appropriate, including on materiality analysis and disclosure matters, and our senior management makes the final materiality determinations and disclosure and other compliance decisions.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our information security activities are overseen by our Chief Technology & AI Officer, who has over 25 years of experience in information technology, including security, encryption, system design, programming and compliance, and leaders from Information Technology, Legal and Finance teams, who have an average of 20 years of experience in information technology, security, compliance and auditing.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our information security activities are overseen by our Chief Technology & AI Officer, who has over 25 years of experience in information technology, including security, encryption, system design, programming and compliance, and leaders from Information Technology, Legal and Finance teams, who have an average of 20 years of experience in information technology, security, compliance and auditing.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our executive leadership team regularly discusses cyber risks and trends and, should they arise, any material incidents with the audit committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

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, 2025, 2024 and 2023, the Company recorded an income tax provision of $9.8 million, $8.1 million and $10.7 million, respectively. The effective income tax rate for the years ended December 31, 2025, 2024 and 2023 was 31.6 percent, 32.7 percent and 38.4 percent, respectively.

The effective tax rate decreased by 1.1 percent for the year ended December 31, 2025 when compared to 2024, primarily due to a decrease in losses in foreign operations that are not eligible for tax benefits on account of valuation allowances, as well as a decrease in tax expense from the vesting of restricted stock and the exercise of stock options, partially offset by 2024 including a one-time reduction in deferred tax liabilities from being revalued at a lower state tax rate, that did not repeat in 2025.

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)	2025		2024		2023

Domestic	$	47,066	$	39,386	$	38,099
Foreign	(16,004)		(14,714)		(10,147)
Total	$	31,062	$	24,672	$	27,952

Significant components of the provision for income taxes for the following periods are as follows:



	Year Ended December 31,
(in thousands)	2025		2024		2023

Current:
Federal	$	6,031	$	11,970	$	15,717
State	912		1,451		2,418
Foreign	—		(165)		34
Deferred
Federal	4,161		(4,606)		(8,202)
State	(231)		(1,291)		(385)
Foreign	(2,974)		(3,736)		1,379
Valuation Allowance	1,922		4,456		(229)
Total	$	9,821	$	8,079	$	10,732

A reconciliation of the federal statutory income tax rate to the effective tax rate for fiscal year 2025, after the prospective adoption of ASU 2023-09 is as follows:



	Year Ended December 31,
	2025

	Amount		Percent
Federal tax statutory rate	$	6,524	21.0	%
State tax (net of federal benefit)1	877		2.8
Foreign tax effects
Germany
Valuation allowance	1,487		4.8
Foreign tax rate differential	(384)		(1.2)
Netherlands
Valuation allowance	1,379		4.4
Other	(256)		(0.8)
Other foreign jurisdictions	(46)		(0.1)
Tax credits
Research and development credit	(547)		(1.8)
Tax reserves	(282)		(0.9)
Nontaxable or nondeductible items
Share based compensation	304		1.0
Executive compensation	733		2.4
Other adjustments	32		—
Total	$	9,821	31.6	%

1 During the year ended December 31, 2025, the tax effect in this category was primarily driven by state taxes in California (greater than 50 percent).

A reconciliation of the federal statutory income tax rate to the effective tax rate for fiscal years 2024 and 2023 prior to the adoption of ASU 2023-09 is as follows:



	Year Ended December 31,
	2024		2023

Federal tax statutory rate	21.0	%	21.0	%
State tax (net of federal benefit)	2.5		3.5
Share based compensation	4.7		6.0
Valuation allowance against deferred tax assets	16.6		(2.4)

Research and development credit	(4.1)		(3.8)
Foreign rate differential	(3.7)		(1.6)
Tax reserves	(0.2)		1.9
Provision to return difference	(0.2)		(0.2)
Unrealized foreign exchange losses	—		2.9
Revaluation of deferred tax liability	(3.2)		1.1
Closure of Japan branch net operating loss reversal	—		11.1
Miscellaneous	(0.7)		(1.1)
Total	32.7	%	38.4	%

Significant components of deferred tax assets and liabilities are as follows:



	December 31,
(in thousands)	2025		2024

Deferred tax assets:
Accrued expenses	$	3,339	$	1,658
Section 174 expenses	7,191		15,058
Leases	797		897
Stock options and other equity	3,494		5,402
Inventories	341		216
Research and development credit	2,937		2,760
Other assets	1,455		1,212
Net operating loss	23,037		19,738
Less valuation allowance	(22,296)		(21,782)
Total deferred tax assets	20,295		25,159
Deferred tax liabilities:
Depreciation	(18,030)		(21,505)
Goodwill	(16,495)		(14,449)
Intangible assets	(1,571)		(1,873)
Leases	(797)		(897)
Total deferred tax liabilities	(36,893)		(38,724)
Net deferred tax liability	$	(16,598)	$	(13,565)

The Company has recorded no U.S. deferred taxes related to the undistributed earnings of its non-U.S. subsidiaries as of December 31, 2025. Such amounts are intended to be reinvested outside of the United States indefinitely, and it is not practicable to estimate the amount of additional tax that might be payable on the foreign earnings. As of December 31, 2025, the Company had no accumulated undistributed earnings in non-U.S. subsidiaries.

As of December 31, 2025, the Company had estimated net operating loss carry forwards of $23.0 million for tax purposes. The net operating losses relate to operations in the United Kingdom, Germany and Netherlands. The United Kingdom net operating losses may be carried forward without any time limitations, but are limited to £5 million, plus 50 percent of taxable income exceeding £5 million. Germany net operating losses may be carried forward without any time limitations but are limited to €1 million, plus 60 percent of taxable income exceeding €1 million. Netherlands net operating losses may be carried forward without any time limitations, but are limited to €1 million, plus 50 percent of taxable income exceeding €1 million.

As of December 31, 2025, the Company had an estimated Minnesota R&D credit carry forward of $3.7 million available to reduce future income taxes. The Minnesota R&D credit can be carried forward 15 years, with expiration beginning in 2029.

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" that a portion of the deferred tax assets will not be realized. The Company's valuation allowances of $22.3 million and $21.8 million at December 31, 2025 and 2024, respectively, reduce the carrying value of deferred tax assets associated with certain net operating loss carry forwards and other assets with insufficient positive evidence for recognition. The increase in the valuation allowance is primarily attributable to additional net operating losses generated in 2025.

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 longer subject to U.S. federal, state, or foreign income tax examinations by tax authorities for years before 2021.

The Company has liabilities related to unrecognized tax benefits totaling $3.1 million and $3.4 million at December 31, 2025 and 2024, respectively, that if recognized would result in a reduction of the Company’s effective tax rate. The liabilities are classified as other long-term liabilities in the accompanying consolidated balance sheets. The Company recognizes interest and penalties related to income tax matters in income tax expense and reports the liability in current or long-term income taxes payable as appropriate.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	Year Ended December 31,
	2025		2024

Balance at beginning of period	$	3,370	$	3,616
Additions for tax positions of current year	290		533
Additions for tax positions of prior years	20		—
Decrease related to the expiration of statutes of limitations	(623)		(395)
Reduction for tax positions of prior years	—		(384)
Balance at period end	$	3,057	$	3,370



	Year Ended December 31,
	2025

Federal	$	5,750
State:
California	675
All states representing less than five percent of total	303
Total State	978
Foreign	16
Total	$	6,744

On July 4, 2025, the U.S. enacted H.R. 1 "A bill to provide for reconciliation pursuant to Title II of H. Con. Res. 14", commonly referred to as the One Big Beautiful Bill Act. As a result of the enactment of H.R. 1, the impact to the deferred tax liability and the income tax payable related to the provisions for 100% bonus depreciation for assets placed in service after January 19, 2025 and full expensing of domestic research and experimental expenditures is reflected in our results for year ended December 31, 2025. We do not expect any material change to our ongoing tax rate as a result of this legislation. We continue to evaluate the impacts the new legislation may have on the Company's financial statements.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
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-Section 50
-Paragraph 1
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting - Long-Lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total long-lived assets	$ 215,261	$ 227,263	$ 253,655
United States
Segment Reporting Information [Line Items]
Total long-lived assets	170,228	181,291	201,388
Europe
Segment Reporting Information [Line Items]
Total long-lived assets	$ 45,033	$ 45,972	$ 52,267

Segment Reporting - Expenditures For Additions To Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total expenditures for additions to long-lived assets	$ 14,842	$ 9,169	$ 28,116
United States
Segment Reporting Information [Line Items]
Total expenditures for additions to long-lived assets	13,205	6,372	24,553
Europe
Segment Reporting Information [Line Items]
Total expenditures for additions to long-lived assets	$ 1,637	$ 2,797	$ 3,563

Segment Reporting

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

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 CODM's primary profit measure for purposes of resource allocation and performance assessment is income (loss) from operations at the segment level. This measure is used to evaluate current-period performance, develop forecasts and budgets, and make decisions about capital and other resource allocations between segments. The Company’s reportable segments are based upon geographic region, consisting of the United States and Europe. The Corporate Unallocated 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. 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 2025,
(in thousands)
	United States		Europe		Corporate Unallocated		Total
Revenue	$	432,326	$	100,801	$	—	$	533,127
Segment expense1	321,681		117,568		67,677		506,926
Restructuring and transformation costs	—		—		749		749
Costs related to disposal and exit activities	—		342		—		342
Income (loss) from operations	$	110,645	$	(17,109)	$	(68,426)	$	25,110



Year Ended December 31 2024,
(in thousands)
	United States		Europe		Corporate Unallocated		Total
Revenue	$	396,192	$	104,698	$	—	$	500,890
Segment expense1	297,902		114,654		62,838		475,394
Costs related to disposal and exit activities	—		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
Costs related to disposal and exit activities	—		—		215		215
Income (loss) from operations	$	94,682	$	(12,528)	$	(53,987)	$	28,167

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


	December 31,

(in thousands)	2025		2024		2023
Long-lived assets:
United States	$	170,228	$	181,291	$	201,388
Europe	45,033		45,972		52,267

Total long-lived assets	$	215,261	$	227,263	$	253,655



	Year Ended December 31,
(in thousands)	2025		2024		2023
Expenditures for additions to long-lived assets:
United States	$	13,205	$	6,372	$	24,553
Europe	1,637		2,797		3,563

Total expenditures for additions to long-lived assets	$	14,842	$	9,169	$	28,116



	Year Ended December 31,
(in thousands)	2025		2024		2023
Depreciation and Amortization:
United States	$	27,574	$	28,767	$	30,667
Europe	5,981		6,878		6,861
Unallocated Corporate	259		163		—
Total depreciation and amortization	$	33,814	$	35,808	$	37,528

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 21
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		26,888,425
Balance at beginning of period at Dec. 31, 2022	$ 697,648	$ 27	$ 473,740	$ 258,236	$ (34,355)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)		266,453
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	2,399		2,399
Stock-based compensation expense	15,989		15,989
Repurchases of Common Stock (in shares)		(1,432,921)
Repurchases of Common Stock	(44,303)	$ (1)	(25,244)	(19,058)
Net income	17,220			17,220
Other comprehensive income (loss)
Foreign currency translation adjustments	5,365				5,365
Net unrealized gains on investments in securities	977				977
Comprehensive (loss) income	23,562
Ending balance (in shares) at Dec. 31, 2023		25,721,957
Balance at end of period at Dec. 31, 2023	695,295	$ 26	466,884	256,398	(28,013)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)		278,189
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	2,020		2,020
Stock-based compensation expense	16,999		16,999
Repurchases of Common Stock (in shares)		(1,774,058)
Repurchases of Common Stock	(60,785)	$ (2)	(32,198)	(28,585)
Net income	16,593			16,593
Other comprehensive income (loss)
Foreign currency translation adjustments	(228)				(228)
Net unrealized gains on investments in securities	257				257
Comprehensive (loss) income	$ 16,622
Ending balance (in shares) at Dec. 31, 2024	24,226,088	24,226,088
Balance at end of period at Dec. 31, 2024	$ 670,151	$ 24	453,705	244,406	(27,984)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued on exercise of options and other, net of shares withheld for tax obligations (in shares)		375,359
Common shares issued on exercise of options and other, net of shares withheld for tax obligations	2,928	$ 1	2,927
Stock-based compensation expense	15,729		15,729
Repurchases of Common Stock (in shares)		(974,025)
Repurchases of Common Stock	(43,125)	$ (1)	(18,241)	(24,883)
Net income	21,241			21,241
Other comprehensive income (loss)
Foreign currency translation adjustments	6,813				6,813
Net unrealized gains on investments in securities	195				195
Comprehensive (loss) income	$ 28,249
Ending balance (in shares) at Dec. 31, 2025	23,627,422	23,627,422
Balance at end of period at Dec. 31, 2025	$ 673,932	$ 24	$ 454,120	$ 240,764	$ (20,976)

Leases - Weighted Average Remaining Lease Term And Discount (Details)	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Weighted Average Remaining Lease Term - operating leases (years)	2 years 8 months 12 days	3 years
Weighted Average Remaining Lease Term - finance leases (years)	7 months 6 days	1 year 7 months 6 days
Weighted Average Discount Rate - operating leases	3.40%	2.60%
Weighted Average Discount Rate - finance leases	4.40%	4.40%

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 110,826	$ 89,071
Short-term marketable securities	17,297	14,019
Accounts receivable, net of allowance for credit losses of $2,668 and $1,975 as of December 31, 2025 and December 31, 2024, respectively	78,962	66,504
Inventory	14,401	12,305
Prepaid expenses and other current assets	9,590	10,049
Income taxes receivable	2,465	2,906
Total current assets	233,541	194,854
Property and equipment, net	215,261	227,263
Goodwill	273,991	273,991
Other intangible assets, net	18,612	21,422
Long-term marketable securities	14,308	17,773
Operating lease assets	2,836	2,993
Finance lease assets	424	692
Other long-term assets	4,442	4,524
Total assets	763,415	743,512
Current liabilities
Accounts payable	15,104	15,504
Accrued compensation	23,674	16,550
Accrued liabilities and other	26,783	19,621
Current operating lease liabilities	1,155	1,287
Current finance lease liabilities	286	309
Total current liabilities	67,002	53,271
Long-term operating lease liabilities	1,606	1,633
Long-term finance lease liabilities	0	287
Long-term deferred tax liabilities	16,598	13,565
Other long-term liabilities	4,277	4,605
Total liabilities	89,483	73,361
Shareholders' equity
Preferred stock, $0.001 par value, authorized 10,000,000 shares; issued and outstanding 0 shares as of December 31, 2025 and December 31, 2024, respectively	0	0
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 23,627,422 and 24,226,088 shares as of December 31, 2025 and December 31, 2024, respectively	24	24
Additional paid-in capital	454,120	453,705
Retained earnings	240,764	244,406
Accumulated other comprehensive loss	(20,976)	(27,984)
Total shareholders' equity	673,932	670,151
Total liabilities and shareholders' equity	$ 763,415	$ 743,512

Stock-Based Compensation

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

On July 8, 2022, the board of directors approved the Proto Labs, Inc. 2022 Long-Term Incentive Plan, which was approved by the Company's shareholders at a Special Meeting of Shareholders on August 29, 2022, and subsequently amended and restated by the Company's shareholders at the Annual Meeting of Shareholders on May 23, 2024 (as amended and restated, and subsequently further amended, the 2022 Plan) to increase the number of shares available for issuance pursuant to awards under the 2022 Plan by an additional 430,000 shares, add a minimum vesting requirement, and extend the expiration date so that the term of the 2022 Plan runs for ten years from the date of the shareholder approval. On May 20, 2025, the Company's shareholders approved an amendment to the 2022 Plan to increase the number of shares available for issuance pursuant to awards under the 2022 Plan by an additional 296,000 shares. Under the 2022 Plan, the Company has the ability to grant stock options, stock appreciation rights (SARs), restricted stock, restricted stock units, other stock-based awards and cash incentive awards. Awards under the 2022 Plan have a maximum term of ten years from the date of grant. The compensation and talent committee may provide that the vesting or payment of any award will be subject to the attainment of specified performance measures in addition to the satisfaction of any continued service requirements and the compensation and talent committee will determine whether such measures have been achieved. The per-share exercise price of stock options and SARs granted under the 2022 Plan generally may not be less than the fair market value of a share of our common stock on the date of the grant.

The Company also has outstanding awards under the 2012 Long-Term Incentive Plan, as amended (the 2012 Plan), although the plan expired in February 2022 and no additional awards have since been or will be made under the 2012 Plan. The 2012 Plan provided the Company the ability to grant stock options, SARs, restricted stock, restricted stock units, other stock-based awards and cash incentive awards. Awards under the 2012 Plan that subsequently expired, were forfeited or cancelled, or settled in cash after August 29, 2022 became available for awards under the 2022 Plan.

On May 23, 2025, the Company granted one-time inducement awards (the Inducement Awards) within the meaning of the New York Stock Exchange Listed Company Manual Section 303A.08 to the Company's incoming Chief Executive Officer. The Inducement Awards were not granted under the 2022 Plan, but have the same terms and conditions as equity awards granted under the 2022 Plan, except as otherwise provided in the award agreements.

The Company’s 2012 Employee Stock Purchase Plan (ESPP) allows eligible employees to purchase a variable number of shares of the Company’s common stock at a discount through payroll deductions of up to 15 percent of their eligible compensation, subject to plan limitations. The ESPP provides for six-month offering periods with a single purchase period, and at the end of each offering period, employees are able to purchase shares at 85 percent of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the last trading day of the offering period. The Company determines the fair value stock-based compensation related to its ESPP in accordance with ASC 718 using the component measurement approach and the Black-Scholes standard option pricing model.

Employees purchased 111,844 and 141,743 shares of common stock under the ESPP at an average exercise price of $33.30 and $27.91 during 2025 and 2024, respectively. As of December 31, 2025, 490,306 shares remained available for future issuance under the ESPP.

The Company determines its stock-based compensation in accordance with ASC 718, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and non-employee directors based on fair value.

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 anticipate paying, any cash dividends in the foreseeable future and, therefore, the Company uses an expected dividend yield of zero in the option pricing model. The Company accounts for forfeitures as they occur. The Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period.

The following table summarizes stock-based compensation expense for the years ended December 31, 2025, 2024 and 2023, respectively:



	Year Ended December 31,
(in thousands)	2025		2024		2023

Stock options and other	$	14,376	$	15,691	$	14,550
Employee stock purchase plan	1,353		1,308		1,439
Total stock-based compensation expense	$	15,729	$	16,999	$	15,989

Cost of revenue	$	1,792	$	1,935	$	1,840
Operating expenses:
Marketing and sales	3,317		3,112		3,426
Research and development	2,826		2,721		2,556
General and administrative	7,794		9,231		8,167

Total stock-based compensation expense	$	15,729	$	16,999	$	15,989

Stock Options

The following table provides the assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2025, 2024 and 2023:



	Year Ended December 31,
	2025	2024	2023

Risk-free interest rate	3.80 - 4.17%	4.28 - 4.30%	3.55 - 4.55%
Expected life (years)	6.25	6.25	2.00 - 6.25
Expected volatility	52.05 - 52.99%	50.62 - 53.17%	49.23 - 55.92%
Expected dividend yield	0%	0%	0%
Weighted average grant date fair value	$22.01	$18.17	$16.36

The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2025, 2024 and 2023:



	Stock Options	Weighted- Average Exercise Price

Options outstanding at January 1, 2023	263,992	$	79.07
Granted	186,804	33.36
Exercised	—	—
Cancelled	(63,635)	62.44
Expired	(15,848)	55.67
Options outstanding at December 31, 2023	371,313	59.92
Granted	140,405	33.44
Exercised	(1,936)	32.13
Cancelled	(59,552)	61.83
Expired	(5,094)	67.78
Options outstanding at December 31, 2024	445,136	51.34
Granted	147,664	39.73
Exercised	(78,783)	34.37
Cancelled	(137,449)	40.09
Expired	(16,354)	87.74
Options outstanding at December 31, 2025	360,214	$	52.94

Exercisable at December 31, 2025	186,198	$	67.55

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-year period, beginning on the first anniversary of the grant date, subject to the employee’s continuing service to the Company. For directors, options generally become exercisable in full on the first anniversary of the grant date.

The total intrinsic value of options exercised during the years ended December 31, 2025 and 2024, was $1.1 million and less than $0.1 million for each period respectively. There were no options exercised during the year ended December 31, 2023. The aggregate intrinsic value represents the cumulative difference between the fair market value of the underlying common stock and the option exercise prices.

For options outstanding at December 31, 2025, the weighted-average remaining contractual term was 6.4 years and the aggregate intrinsic value was $3.7 million. For options exercisable at December 31, 2025, the weighted-average remaining contractual term was 4.3 years and the aggregate intrinsic value was $1.3 million. Refer to the table below for additional information.

The following table summarizes information about stock options outstanding at December 31, 2025:



	Options Outstanding, Vested and Expected to Vest			Options Exercisable
Range of Exercise Prices	Number Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price ($)	Number Exercisable	Weighted Average Exercise Price ($)

$32.13 to $35.33	134,500	7.27	33.31	63,588	33.41
$35.34 to $43.97	116,018	8.69	39.11	22,952	39.37
$43.98 to $180.46	109,696	2.85	91.62	99,658	95.83

The fair value of share-based payment transactions is recognized in the Consolidated Statements of Comprehensive Income. As of December 31, 2025, there was $2.7 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 2.8 years. The total fair value of options vested was $2.3 million, $2.3 million and $1.8 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Restricted Stock

The 2012 Plan provides for the award of restricted stock or restricted stock units. Restricted stock awards are share settled and restrictions lapse ratably over the vesting period, which is generally a four-year period, beginning on the first anniversary of the grant date, subject to the employee’s continuing service to the Company. For directors, restrictions generally lapse in full on the first anniversary of the grant date.

The following table summarizes restricted stock activity for the years ended December 31, 2025, 2024 and 2023:



	Restricted Stock Awards	Weighted- Average Grant Date Fair Value Per Share

Restricted stock at January 1, 2023	478,596	$	70.36
Granted	410,682	32.46
Restrictions lapsed	(137,053)	79.61
Forfeited	(98,760)	61.25
Restricted stock at December 31, 2023	653,465	45.89
Granted	377,961	33.50
Restrictions lapsed	(195,831)	54.52
Forfeited	(72,334)	38.40
Restricted stock at December 31, 2024	763,261	38.25
Granted	312,953	40.69
Restrictions lapsed	(233,612)	40.19
Forfeited	(146,526)	36.41
Restricted stock at December 31, 2025	696,076	$	39.07

As of December 31, 2025, there was $16.6 million of unrecognized compensation expense related to unvested restricted stock, which is expected to be recognized over a weighted-average period of 2.7 years.

Performance Stock

Performance stock units (PSUs) are expressed in terms of a target number of PSUs, with anywhere between 0 percent and 200 percent of that target number capable of being earned and vesting at the end of a three-year performance period depending on the Company’s performance in the final year of the performance period and the award recipient’s continued employment. The Company’s outstanding PSUs at December 31, 2025 are based on market conditions and the related compensation cost is based on the fair value at grant date calculated using a Monte Carlo pricing model.

The following table summarizes performance stock activity for the years ended December 31, 2025, 2024 and 2023:



	Performance Stock Awards	Weighted- Average Grant Date Fair Value Per Share

Performance stock at January 1, 2023	35,802	$	77.91
Granted	71,295	57.79
Restrictions lapsed	—	—
Performance change	—	—
Forfeited	—	—
Performance stock at December 31, 2023	107,097	74.08
Granted	79,436	48.20
Restrictions lapsed	—	—
Performance change	(2,772)	227.14
Forfeited	(3,588)	52.18
Performance stock at December 31, 2024	180,173	60.75
Granted 1	160,939	59.61
Restrictions lapsed	(32,977)	96.41
Performance change	—	—
Forfeited	(76,176)	56.74
Performance stock at December 31, 2025	231,959	$	56.21

As of December 31, 2025, there was $6.6 million of unrecognized compensation expense related to unvested performance stock, which is expected to be recognized over a weighted-average period of 2.0 years.

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, 2025, 2024 and 2023:



	Year Ended December 31,
	2025	2024	2023

Risk-free interest rate	3.67 - 4.29%	4.29 - 5.16%	4.60 - 5.16%
Expected life (months)	6.00	6.00	6.00
Expected volatility	39.13 - 65.60%	30.97 - 65.60%	47.38 - 67.84%
Expected dividend yield	0%	0%	0%

Property and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following:



	December 31,
(in thousands)	2025		2024

Land	$	16,051	$	15,596
Buildings and improvements	140,689		137,461
Machinery and equipment	235,948		236,675
Computer hardware and software	92,011		89,699
Leasehold improvements	4,727		4,528
Construction in progress	13,667		5,632
Total	503,093		489,591
Accumulated depreciation and amortization	(287,832)		(262,328)
Property and equipment, net	$	215,261	$	227,263

Depreciation expense for the years ended December 31, 2025, 2024 and 2023 was $30.1 million, $32.1 million and $31.6 million, respectively.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Minneapolis, Minnesota

Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	$ 0	$ 0	$ (3,906)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480870/815-30-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480870/815-30-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480870/815-30-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480870/815-30-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-17

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

+ Details

Goodwill and Other Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Estimated Amortization Expense
2026	$ 3,616
2027	3,609
2028	2,240
2029	2,240
2030	2,240
Thereafter	4,667
Net	$ 18,612	$ 21,422

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Total inventory	$ 15,441	$ 12,989
Allowance for obsolescence	(1,040)	(684)
Inventory	$ 14,401	$ 12,305

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets:
Accrued expenses	$ 3,339	$ 1,658
Section 174 expenses	7,191	15,058
Leases	797	897
Stock options and other equity	3,494	5,402
Inventories	341	216
Research and development credit	2,937	2,760
Other assets	1,455	1,212
Net operating loss	23,037	19,738
Less valuation allowance	(22,296)	(21,782)
Total deferred tax assets	20,295	25,159
Deferred tax liabilities:
Depreciation	(18,030)	(21,505)
Goodwill	(16,495)	(14,449)
Intangible assets	(1,571)	(1,873)
Leases	(797)	(897)
Total deferred tax liabilities	(36,893)	(38,724)
Net deferred tax liability	$ (16,598)	$ (13,565)

Net Income Per Common Share - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Anti-dilutive options excluded from calculation of diluted weighted average shares outstanding (in shares)	285,731	451,029	263,992

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

There were no changes in the carrying amount of goodwill for the years ended December 31, 2025 and 2024.

The Euro denominated goodwill had been translated at the end of each period using the current exchange rates resulting in a foreign currency translation adjustment that was recorded as a component of Other Comprehensive Income.

Intangible assets other than goodwill for the years ended December 31, 2025 and 2024 were as follows:



	Year Ended December 31, 2025						Year Ended December 31, 2024							Weighted Average Useful Life
(in thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net		Useful Life (in years)	Remaining (in years)

Non-compete agreement	$	850	$	(843)	$	7	$	819	$	(703)	$	116	2.0 - 5.0	0.1
Software technology	13,229		(10,493)		2,736		13,229		(9,123)		4,106		10.0	2.0
Software platform	27,110		(11,241)		15,869		25,657		(8,457)		17,200		12.0	7.1
Total intangible assets	$	41,189	$	(22,577)	$	18,612	$	39,705	$	(18,283)	$	21,422

Amortization expense for intangible assets for the years ended December 31, 2025, 2024 and 2023 was $3.7 million, $3.7 million and $5.9 million, respectively. The Euro denominated intangible assets are translated at the end of each period using the current exchange rates resulting in a foreign currency translation adjustment that is recorded as a component of

Other Comprehensive Income. For the years ended December 31, 2025, 2024 and 2023 the foreign currency translation adjustment was $0.5 million, $2.2 million and $1.3 million, respectively.

Estimated aggregated amortization expense based on the current carrying value of the amortizable intangible assets is as follows:



(in thousands)	Estimated Amortization Expense
2026	$	3,616
2027	3,609
2028	2,240
2029	2,240
2030	2,240
Thereafter	4,667
Total estimated amortization expense	$	18,612

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2025
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies 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 (loss) Components of comprehensive income (loss) include net income, foreign currency translation adjustments and net unrealized gains and losses on investments in securities. Comprehensive income (loss) 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 months or less at the date of purchase. The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses on such accounts. Marketable securities Marketable securities are categorized as available-for-sale and are recorded at fair value. Management determines the appropriate classification of debt securities at the time of purchase and reevaluates such designation as of each balance sheet date. The classification of marketable securities as current or non-current is dependent upon the security’s maturity date. Securities with maturities of three months or less at the time of purchase are categorized as cash equivalents as described above. Accounts receivable and allowance for credit losses Accounts receivable are reported at the invoiced amount less an allowance for credit losses. As of each balance sheet date, the Company evaluates its accounts receivable and establishes an allowance for credit losses 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 been received within the period agreed upon in the invoice. Accounts receivable are written off after all collection efforts have been exhausted. Recoveries of trade receivables previously written off are recorded when received. Inventory Inventory consists primarily of raw materials, which are recorded at the lower of cost and net realizable value using the standard cost method, which approximates first-in, first-out (FIFO) cost. The Company periodically reviews its inventory for slow-moving, damaged and discontinued items and provides allowances to reduce such items identified to their recoverable amounts. 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 in service are not depreciated until the asset is put into use. The Company follows ASC 350-40, Internal-Use Software, in accounting for internally developed software. Goodwill The Company recognizes goodwill in accordance with ASC 350, Intangibles—Goodwill and Other. Goodwill is the excess of cost of an acquired entity over the amounts assigned to assets acquired and liabilities assumed in a business combination. Goodwill is allocated to the Company's reporting units, which are determined by the discrete financial information available for the component and whether it is regularly reviewed by segment management. The Company's reporting units are the United States and Europe. Goodwill is not amortized. Goodwill is tested for impairment annually as of the first day of the fourth quarter, and is tested for impairment between annual tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired. An impairment charge for goodwill is recognized only when the estimated fair value of a reporting unit, including goodwill, is less than its carrying amount. In performing the goodwill impairment assessment, the Company may assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. Qualitative factors may include, but are not limited to, economic, market and industry conditions, cost factors and overall financial performance of the reporting unit. If after assessing these qualitative factors, the Company determines it is "more-likely-than-not" that the fair value is less than the carrying value, a quantitative assessment of goodwill is required. The quantitative impairment test requires judgment, including the identification of reporting units, the assignment of assets, liabilities and goodwill to reporting units, and the determination of fair value of each reporting unit. The impairment test requires the comparison of the fair value of each reporting unit with its carrying amount, including goodwill. If performing the quantitative impairment test, the Company would determine the fair value of its reporting units through the income approach by using discounted cash flow (DCF) analyses. Determining fair value requires the Company to make judgments about appropriate discount rates, perpetual growth rates and the amount and timing of expected future cash flows. The cash flows employed in the DCF analysis for each reporting unit are based on the reporting unit's budget, long-term business plan and recent operating performance. Discount rate assumptions are based on an assessment of the risk inherent in the future cash flows of the respective reporting unit and market conditions. Given the inherent uncertainty in determining the assumptions underlying a DCF analysis, actual results may differ from those used in the Company's valuations. For the fiscal year 2025 annual impairment assessment, the Company performed a qualitative assessment for the United States reporting unit, since it is the only reporting unit with goodwill, and determined there were no indicators of impairment and it was more likely than not that the fair value of the United States reporting unit exceeded its carrying value. 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 to 12 years on a straight line basis, and are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows generated by the asset. The amount of the impairment loss recorded is calculated by the excess of the asset’s carrying value over its fair value. 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 exist, the Company will prepare a projection of the undiscounted future cash flows of the specific assets to determine if the assets are recoverable. If impairment exists based on these projections, an adjustment will be made to reduce the carrying amount of the specific assets to fair value. During the years ended December 31, 2025 and 2024, the Company recognized $0.2 million and $2.3 million, respectively, related to write-down of fixed assets for certain manufacturing operations in Germany. Revenue recognition The Company recognizes revenue for its internal and outsourced manufacturing operations in accordance with ASC 606, Revenue from Contracts with Customers. The Company manufactures custom parts to specific customer orders that have no alternative use to the Company, and the Company believes there is a legally enforceable right to payment for performance completed to date on internally and outsourced 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 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, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines standalone selling price based on the price charged to customers. Leases The Company accounts for leases in accordance with ASC 842, Leases, which requires the balance sheet recognition of lease assets and lease liabilities by lessees for those leases classified as operating and finance leases. The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets, current operating lease liabilities and long-term operating lease liabilities in the Consolidated Balance Sheets and are recognized based on the present value of lease payments over the lease term at the commencement date. Finance leases are included in finance lease assets, current finance lease liabilities and long-term finance lease liabilities in the Consolidated Balance Sheets and are recognized based on the present value of lease payments over the lease term at commencement date. The majority of the Company’s leases do not provide an implicit rate of return, therefore, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease agreements that contain non-lease components, with the exception of certain real estate leases, are accounted for as a single lease component. The Company has operating leases for office space, manufacturing facilities and certain company vehicles and equipment and finance leases for certain company equipment and manufacturing facilities. The leases have remaining lease terms of less than one year to five years. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. As of December 31, 2025, the operating lease liability does not include any options to extend or terminate leases. Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes (ASC 740). Under this method, the Company determines tax assets and liabilities based upon the differences between the financial statement carrying amounts and the tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to affect taxable income. The tax consequences of most events recognized in the financial statements are included in determining income taxes currently payable. However, because tax laws and financial accounting standards differ in their recognition and measurement of assets, liabilities and equity, revenues, expenses, gains and losses, differences arise between the amount of taxable income and pretax financial income for a year and between the tax basis of assets or liabilities and their reported amounts in the financial statements. Because the Company assumes that the reported amounts of assets and liabilities will be recovered and settled, respectively, a difference between the tax basis of an asset or liability and its reported amount in the balance sheet will result in a taxable or a deductible amount in some future years when the related liabilities are settled or the reported amounts of the assets are recovered, giving rise to a deferred tax asset or liability. The Company establishes a valuation allowance for any portion of its deferred tax assets that are not at a level of "more-likely-than-not" to be recognized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements by requiring that individual tax positions are recorded only when they meet a "more-likely-than-not" criterion. The Company recognizes the effect of income tax positions only if sustaining those positions is "more-likely-than-not". The Company records penalties and interest related to unrecognized tax benefits in income taxes in the Company’s Consolidated Statements of Income. Stock-based compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation (ASC 718). Under the fair value recognition provisions of ASC 718, the Company measures stock-based compensation cost at the grant date fair value and recognizes the compensation expense over the requisite service period, which is the vesting period, using a straight-line attribution method. The amount of stock-based compensation expense recognized during a period is based on the portion of the awards that are ultimately expected to vest. The Company accounts for forfeitures as they occur. Ultimately, the total expense recognized over the vesting period will only be for those awards that vest. The Company’s awards are not eligible to vest early in the event of retirement, however, the awards vest early in the event of a change in control. 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 $15.3 million, $14.3 million and $13.8 million for the years ended December 31, 2025, 2024 and 2023, respectively. 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. Research and development costs were approximately $42.8 million, $41.3 million and $40.1 million for the years ended December 31, 2025, 2024 and 2023, respectively. 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 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures, that enhances the transparency of income tax disclosures by expanding annual disclosure requirements related to the rate reconciliation and income taxes paid. The Company adopted this guidance on a prospective basis for its annual year ending December 31, 2025 and all interim periods thereafter. Prior period disclosures have not been adjusted to reflect the new disclosure requirements. See Note 15 for further detail. Recently issued accounting pronouncements not yet adopted In November 2024, the FASB issued ASU No. 2024-03 ("ASU 2024-03"), Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve disclosures about a public business entity's expenses, primarily through additional disaggregation of income statement expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating ASU 2024-03 to determine the impact on the Company's disclosures. In July 2025, the FASB issued ASU No. 2025-05 ("ASU 2025-05"), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivables and Contract Assets, which introduces a practical expedient for the application of the current expected credit loss model to current accounts receivables and contract assets. ASU 2025-05 is effective for annual and interim periods beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating ASU 2025-05 to determine the impact on the Company's financial statements and disclosures. In September 2025, the FASB issued ASU No. 2025-06 ("ASU 2025-06"), Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which updates the cost capitalization threshold for internal-use software development costs by removing all references to software project development stages and provides new guidance on how to evaluate whether the probable-to-complete recognition threshold has been met. ASU 2025-06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating ASU 2025-06 to determine the impact on the Company's financial statements and disclosures. In December 2025, the FASB issued ASU No. 2025-12 ("ASU 2025-12"), Codification Improvements, to make other incremental improvements to U.S. GAAP. The update represents changes to the Codification that clarify, correct errors in or make other improvements to a variety of topics that are intended to make it easier to understand and apply. The guidance is effective for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years. The Company is currently evaluating ASU 2025-12 to determine the impact on the Company's financial statements and disclosures.

Income Taxes - Reconciliation of Federal Statutory Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
Federal tax statutory rate	$ 6,524
State tax (net of federal benefit)	877
Valuation Allowance	1,922	$ 4,456	$ (229)
Other adjustments	32
Research and development credit	(547)
Tax reserves	(282)
Share based compensation	304
Executive compensation	733
Total	$ 9,821	$ 8,079	$ 10,732
Percent
Federal tax statutory rate	21.00%	21.00%	21.00%
State tax (net of federal benefit)	2.80%	2.50%	3.50%
Valuation allowance against deferred tax assets		16.60%	(2.40%)
Foreign rate differential		(3.70%)	(1.60%)
Other adjustments	0.00%	(0.70%)	(1.10%)
Research and development credit	(1.80%)	(4.10%)	(3.80%)
Tax reserves	(0.90%)	(0.20%)	1.90%
Provision to return difference		(0.20%)	(0.20%)
Unrealized foreign exchange losses		0.00%	2.90%
Revaluation of deferred tax liability		(3.20%)	1.10%
Closure of Japan branch net operating loss reversal		0.00%	11.10%
Share based compensation	1.00%	4.70%	6.00%
Executive compensation	2.40%
Total	31.60%	32.70%	38.40%
Germany
Amount
Valuation Allowance	$ 1,487
Foreign tax rate differential	$ (384)
Percent
Valuation allowance against deferred tax assets	4.80%
Foreign rate differential	(1.20%)
Netherlands
Amount
Valuation Allowance	$ 1,379
Other adjustments	$ (256)
Percent
Valuation allowance against deferred tax assets	4.40%
Other adjustments	(0.80%)
Other
Amount
Foreign tax rate differential	$ (46)
Percent
Foreign rate differential	(0.10%)

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2025

Regulated Operations [Abstract]

Accumulated Other Comprehensive Loss

Other comprehensive loss is comprised of foreign currency translation adjustments and net unrealized gains (losses) on investments in securities. During the year ended December 31, 2023 we recognized a $3.9 million foreign currency translation loss from the completion on the closure of our Japan business.

The following table presents the changes in accumulated other comprehensive loss balances for the years ended December 31, 2025, 2024 and 2023, respectively:



	Year Ended December 31,
(in thousands)	2025		2024		2023

Balance at beginning of period	$	(27,984)	$	(28,013)	$	(34,355)
Foreign currency translation adjustments
Other comprehensive income (loss) before reclassifications	6,813		(228)		1,459
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		3,906
Net current-period other comprehensive income (loss)	6,813		(228)		5,365
Net unrealized gains on investments in securities
Other comprehensive income before reclassifications	195		257		977
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—
Net current-period other comprehensive income	195		257		977
Balance at end of period	$	(20,976)	$	(27,984)	$	(28,013)

Revenue - Schedule of Revenue by Geographic Areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 533,127	$ 500,890	$ 503,877
United States
Disaggregation of Revenue [Line Items]
Total revenue	432,326	396,192	396,821
Europe
Disaggregation of Revenue [Line Items]
Total revenue	$ 100,801	$ 104,698	$ 107,056

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Net Income Per Common Share -Schedule of Computation Of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 21,241	$ 16,593	$ 17,220
Basic - weighted-average shares outstanding (in shares)	23,922,703	25,096,117	26,186,533
Effect of dilutive securities:
Employee stock options and other (in shares)	322,496	116,061	36,965
Diluted - weighted-average shares outstanding (in shares)	24,245,199	25,212,178	26,223,498
Net income per share attributable to common shareholders:
Basic (in dollars per share)	$ 0.89	$ 0.66	$ 0.66
Diluted (in dollars per share)	$ 0.88	$ 0.66	$ 0.66

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Accumulated Other Comprehensive Loss - Changes In Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 670,151	$ 695,295	$ 697,648
Net unrealized gains on investments in securities
Balance at end of period	673,932	670,151	695,295
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(27,984)	(28,013)	(34,355)
Net unrealized gains on investments in securities
Balance at end of period	(20,976)	(27,984)	(28,013)
Foreign currency translation adjustments
Foreign currency translation adjustments
Other comprehensive income (loss) before reclassifications	6,813	(228)	1,459
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	3,906
Net unrealized gains on investments in securities
Other comprehensive income before reclassifications	6,813	(228)	1,459
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	3,906
Net current-period other comprehensive income (loss)	6,813	(228)	5,365
Net unrealized gains on investments in securities
Foreign currency translation adjustments
Other comprehensive income (loss) before reclassifications	195	257	977
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Net unrealized gains on investments in securities
Other comprehensive income before reclassifications	195	257	977
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0
Net current-period other comprehensive income (loss)	$ 195	$ 257	$ 977

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating activities
Net income	$ 21,241	$ 16,593	$ 17,220
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	33,814	35,808	37,528
Stock-based compensation expense	15,729	16,999	15,989
Deferred taxes	2,912	(5,153)	(7,656)
Interest on finance lease obligations	20	33	1,055
Loss on foreign currency translation	0	0	3,906
Loss on impairment of equipment	0	256	0
Impairments related to exit and closure of Germany business	448	2,333	0
Gain on disposal of property and equipment	(4)	(13)	(498)
Other	(223)	1	154
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(12,479)	9,650	2,727
Inventories	(2,113)	1,258	112
Prepaid expenses and other	1,009	(560)	4,203
Income taxes	508	(691)	1,823
Accounts payable	(333)	480	(1,838)
Accrued liabilities and other	13,975	835	(1,451)
Net cash provided by operating activities	74,504	77,829	73,274
Investing activities
Purchases of property, equipment and other capital assets	(14,842)	(9,169)	(28,116)
Proceeds from sales of property, equipment and other capital assets	834	34	699
Purchases of other assets and investments	0	0	(1,000)
Purchases of marketable securities	(17,015)	(25,070)	0
Proceeds from sales of marketable securities	0	1,416	0
Proceeds from maturities of marketable securities	17,613	19,209	23,865
Net cash used in investing activities	(13,410)	(13,580)	(4,552)
Financing activities
Proceeds from issuance of common stock from equity plans	6,340	4,019	3,835
Purchases of shares withheld for tax obligations	(3,434)	(1,995)	(1,436)
Repurchases of common stock and other	(42,963)	(60,278)	(43,951)
Principal repayments of finance lease obligations	(309)	(296)	(306)
Net cash used in financing activities	(40,366)	(58,550)	(41,858)
Effect of exchange rate changes on cash and cash equivalents	1,027	(418)	368
Net increase (decrease) in cash and cash equivalents	21,755	5,281	27,232
Cash and cash equivalents, beginning of period	89,071	83,790	56,558
Cash and cash equivalents, end of period	110,826	89,071	83,790
Supplemental cash flow disclosure
Cash paid for interest	58	136	1,055
Cash paid for taxes	$ 6,744	$ 13,913	$ 15,892

Net Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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)	2025		2024		2023

Net income	$	21,241	$	16,593	$	17,220

Basic - weighted-average shares outstanding:	23,922,703		25,096,117		26,186,533
Effect of dilutive securities:
Employee stock options and other	322,496		116,061		36,965
Diluted - weighted-average shares outstanding:	24,245,199		25,212,178		26,223,498
Net income per share attributable to common shareholders:
Basic	$	0.89	$	0.66	$	0.66
Diluted	$	0.88	$	0.66	$	0.66

Stock-Based Compensation - Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Employee stock purchase plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (years)	6 years	6 years	6 years
Expected dividend yield	0.00%	0.00%	0.00%
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (years)	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)	$ 22.01	$ 18.17	$ 16.36
Minimum \| Employee stock purchase plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	3.67%	4.29%	4.60%
Expected volatility	39.13%	30.97%	47.38%
Minimum \| Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	3.80%	4.28%	3.55%
Expected life (years)			2 years
Expected volatility	52.05%	50.62%	49.23%
Maximum \| Employee stock purchase plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	4.29%	5.16%	5.16%
Expected volatility	65.60%	65.60%	67.84%
Maximum \| Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	4.17%	4.30%	4.55%
Expected life (years)			6 years 3 months
Expected volatility	52.99%	53.17%	55.92%

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
United States
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions per employees (in percent)	50.00%
Contributions by employer	$ 4.5	$ 4.3	$ 4.6
United Kingdom
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	0.5	0.5	0.5
Netherlands
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	$ 0.7	$ 0.6	$ 0.6

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Supplemental balance sheet information related to leases was as follows:



	December 31,
(in thousands)	2025		2024
Operating lease assets	$	2,836	$	2,993

Current operating lease liabilities	$	1,155	$	1,287
Long-term operating lease liabilities	1,606		1,633
Total operating lease liabilities	$	2,761	$	2,920


Finance lease assets	$	424	$	692

Current finance lease liabilities	$	286	$	309
Long-term finance lease liabilities	—		287
Total finance lease liabilities	$	286	$	596

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)	2025		2024
Operating lease cost	$	1,763	$	1,762
Finance lease cost:
Amortization of right-of-use assets	$	329	$	329
Interest on lease obligations	20		33
Variable lease cost	$	534	$	382
Total lease cost	$	2,646	$	2,506

Maturities of operating and finance lease liabilities as of December 31, 2025 were as follows:



(in thousands)	Operating Leases		Finance Leases
Year Ending December 31,
2026	$	1,238	$	292
2027	899		—
2028	634		—
2029	116		—
2030	2		—
After 2030	—		—
Total future minimum lease payments	2,889		292
Less interest	(128)		(6)
Present value of lease liabilities	$	2,761	$	286

As of December 31, 2025, we have no operating or finance leases that have not yet commenced.

Weighted average remaining lease term and discount rate was as follows:



	December 31,
	2025	2024
Weighted Average Remaining Lease Term - operating leases (years)	2.7	3.0
Weighted Average Remaining Lease Term - finance leases (years)	0.6	1.6
Weighted Average Discount Rate - operating leases	3.4%	2.6%
Weighted Average Discount Rate - finance leases	4.4%	4.4%

Supplemental cash flow information related to leases was as follows:



	Twelve Months Ended December 31,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,365	$	2,093
Operating cash flows from finance leases	$	20	$	33
Financing cash flows from finance leases	$	309	$	296

Lease assets obtained in exchange for new operating lease liabilities	$	—	$	—
Lease assets obtained in exchange for new financing lease liabilities	$	—	$	—

Leases

Supplemental balance sheet information related to leases was as follows:



	December 31,
(in thousands)	2025		2024
Operating lease assets	$	2,836	$	2,993

Current operating lease liabilities	$	1,155	$	1,287
Long-term operating lease liabilities	1,606		1,633
Total operating lease liabilities	$	2,761	$	2,920


Finance lease assets	$	424	$	692

Current finance lease liabilities	$	286	$	309
Long-term finance lease liabilities	—		287
Total finance lease liabilities	$	286	$	596



	Twelve Months Ended December 31,
(in thousands)	2025		2024
Operating lease cost	$	1,763	$	1,762
Finance lease cost:
Amortization of right-of-use assets	$	329	$	329
Interest on lease obligations	20		33
Variable lease cost	$	534	$	382
Total lease cost	$	2,646	$	2,506

Maturities of operating and finance lease liabilities as of December 31, 2025 were as follows:



(in thousands)	Operating Leases		Finance Leases
Year Ending December 31,
2026	$	1,238	$	292
2027	899		—
2028	634		—
2029	116		—
2030	2		—
After 2030	—		—
Total future minimum lease payments	2,889		292
Less interest	(128)		(6)
Present value of lease liabilities	$	2,761	$	286

As of December 31, 2025, we have no operating or finance leases that have not yet commenced.

Weighted average remaining lease term and discount rate was as follows:



	December 31,
	2025	2024
Weighted Average Remaining Lease Term - operating leases (years)	2.7	3.0
Weighted Average Remaining Lease Term - finance leases (years)	0.6	1.6
Weighted Average Discount Rate - operating leases	3.4%	2.6%
Weighted Average Discount Rate - finance leases	4.4%	4.4%

Supplemental cash flow information related to leases was as follows:



	Twelve Months Ended December 31,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,365	$	2,093
Operating cash flows from finance leases	$	20	$	33
Financing cash flows from finance leases	$	309	$	296

Lease assets obtained in exchange for new operating lease liabilities	$	—	$	—
Lease assets obtained in exchange for new financing lease liabilities	$	—	$	—

Financing Obligations (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
Financing obligations	$ 0	$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Supplemental Balance Sheet

Supplemental balance sheet information related to leases was as follows:



	December 31,
(in thousands)	2025		2024
Operating lease assets	$	2,836	$	2,993

Current operating lease liabilities	$	1,155	$	1,287
Long-term operating lease liabilities	1,606		1,633
Total operating lease liabilities	$	2,761	$	2,920


Finance lease assets	$	424	$	692

Current finance lease liabilities	$	286	$	309
Long-term finance lease liabilities	—		287
Total finance lease liabilities	$	286	$	596



	Twelve Months Ended December 31,
(in thousands)	2025		2024
Operating lease cost	$	1,763	$	1,762
Finance lease cost:
Amortization of right-of-use assets	$	329	$	329
Interest on lease obligations	20		33
Variable lease cost	$	534	$	382
Total lease cost	$	2,646	$	2,506

Supplemental cash flow information related to leases was as follows:



	Twelve Months Ended December 31,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,365	$	2,093
Operating cash flows from finance leases	$	20	$	33
Financing cash flows from finance leases	$	309	$	296

Lease assets obtained in exchange for new operating lease liabilities	$	—	$	—
Lease assets obtained in exchange for new financing lease liabilities	$	—	$	—

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2025 were as follows:



(in thousands)	Operating Leases		Finance Leases
Year Ending December 31,
2026	$	1,238	$	292
2027	899		—
2028	634		—
2029	116		—
2030	2		—
After 2030	—		—
Total future minimum lease payments	2,889		292
Less interest	(128)		(6)
Present value of lease liabilities	$	2,761	$	286

Schedule of Maturities of Finance Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2025 were as follows:



(in thousands)	Operating Leases		Finance Leases
Year Ending December 31,
2026	$	1,238	$	292
2027	899		—
2028	634		—
2029	116		—
2030	2		—
After 2030	—		—
Total future minimum lease payments	2,889		292
Less interest	(128)		(6)
Present value of lease liabilities	$	2,761	$	286

Schedule of Weighted Average Remaining Lease Term

Weighted average remaining lease term and discount rate was as follows:



	December 31,
	2025	2024
Weighted Average Remaining Lease Term - operating leases (years)	2.7	3.0
Weighted Average Remaining Lease Term - finance leases (years)	0.6	1.6
Weighted Average Discount Rate - operating leases	3.4%	2.6%
Weighted Average Discount Rate - finance leases	4.4%	4.4%

Stock-Based Compensation - Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Stock Options
Beginning balance (in shares)	445,136	371,313	263,992
Granted (in shares)	147,664	140,405	186,804
Exercised (in shares)	(78,783)	(1,936)	0
Cancelled (in shares)	(137,449)	(59,552)	(63,635)
Expired (in shares)	(16,354)	(5,094)	(15,848)
Ending balance (in shares)	360,214	445,136	371,313
Exercisable (in shares)	186,198
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 51.34	$ 59.92	$ 79.07
Granted (in dollars per share)	39.73	33.44	33.36
Exercised (in dollars per share)	34.37	32.13	0
Cancelled (in dollars per share)	40.09	61.83	62.44
Expired (in dollars per share)	87.74	67.78	55.67
Ending balance (in dollars per share)	52.94	$ 51.34	$ 59.92
Exercisable (in dollars per share)	$ 67.55

Leases - Maturities of Operating And Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Operating Leases
2026	$ 1,238
2027	899
2028	634
2029	116
2030	2
After 2030	0
Total future minimum lease payments	2,889
Less interest	(128)
Present value of lease liabilities	2,761	$ 2,920
Finance Leases
2026	292
2027	0
2028	0
2029	0
2030	0
After 2030	0
Total future minimum lease payments	292
Less interest	(6)
Total finance lease liabilities	$ 286	$ 596

Inventory (Tables)

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company’s inventory consists of the following:



	December 31,
(in thousands)	2025		2024

Total inventory	$	15,441	$	12,989
Allowance for obsolescence	(1,040)		(684)
Inventory, net of allowance	$	14,401	$	12,305

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,365	$ 2,093
Operating cash flows from finance leases	20	33
Financing cash flows from finance leases	309	296	$ 306
Lease assets obtained in exchange for new lease liabilities
Lease assets obtained in exchange for new operating lease liabilities	0	0
Lease assets obtained in exchange for new financing lease liabilities	$ 0	$ 0

Income Taxes - Provisions for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 6,031	$ 11,970	$ 15,717
State	912	1,451	2,418
Foreign	0	(165)	34
Deferred
Federal	4,161	(4,606)	(8,202)
State	(231)	(1,291)	(385)
Foreign	(2,974)	(3,736)	1,379
Valuation Allowance	1,922	4,456	(229)
Total	$ 9,821	$ 8,079	$ 10,732

Marketable Securities - Maturities of Available-For-Sale Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Securities, Available-for-Sale, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less	$ 17,297
Due after one year through five years	14,308
Total marketable securities	$ 31,605	$ 31,792

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

+ Details

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-term and Long-term Marketable Securities

Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2025 and 2024 is as follows:



	December 31, 2025
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. government agency securities	$	7,500	$	9	$	(4)	$	7,505
Corporate debt securities	14,424		9		(7)		14,426
U.S. municipal securities	8,631		39		—		8,670
U.S. treasury bonds	1,000		4		—		1,004
Total marketable securities	$	31,555	$	61	$	(11)	$	31,605



	December 31, 2024
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value

U.S. government agency securities	$	8,323	$	—	$	(22)	$	8,301
Corporate debt securities	15,852		—		(82)		15,770
U.S. municipal securities	6,762		—		(38)		6,724
U.S. treasury bonds	1,000		—		(3)		997
Total marketable securities	$	31,937	$	—	$	(145)	$	31,792

Schedule of Available for Sale Debt Securities by Contractual Maturity



(in thousands)	December 31, 2025

Due in one year or less	$	17,297
Due after one year through five years	14,308
Total marketable securities	$	31,605

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 533,127	$ 500,890	$ 503,877
Injection Molding
Disaggregation of Revenue [Line Items]
Total revenue	191,521	194,215	203,941
CNC Machining
Disaggregation of Revenue [Line Items]
Total revenue	243,327	206,887	198,222
3D Printing
Disaggregation of Revenue [Line Items]
Total revenue	80,298	83,767	84,291
Sheet Metal
Disaggregation of Revenue [Line Items]
Total revenue	17,160	15,265	16,540
Other Revenue
Disaggregation of Revenue [Line Items]
Total revenue	$ 821	$ 756	$ 883

- Definition

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+ References

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