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Segment Reporting | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s reportable segments are based on the internal reporting used by the Company’s Chief Executive Officer, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs, that the Company does not allocate directly to its operating segments. Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income from operations and pre-tax income relates to foreign currency-related gains and losses and interest income on cash balances and investments, which are not allocated to business segments. Revenue and income from operations by reportable segment for the three and six months ended June 30, 2024 and 2023 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Revenue: |  |  |  |  |  |  |
United States | $ | 98,541 |  |  | $ | 96,321 |  |  | $ | 200,022 |  |  | $ | 194,067 |
Europe | 27,090 |  |  | 25,944 |  |  | 53,499 |  |  | 54,057 |
Total revenue | $ | 125,631 |  |  | $ | 122,265 |  |  | $ | 253,521 |  |  | $ | 248,124 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Income (Loss) from Operations: |  |  |  |  |  |  |
United States | $ | 24,241 |  |  | $ | 22,053 |  |  | $ | 50,573 |  |  | $ | 42,534 |
Europe | (1,732) |  |  | (3,380) |  |  | (4,176) |  |  | (5,863) |
Corporate Unallocated and Japan | (16,510) |  |  | (13,065) |  |  | (33,571) |  |  | (27,314) |
Total Income from Operations | $ | 5,999 |  |  | $ | 5,608 |  |  | $ | 12,826 |  |  | $ | 9,357 |
Total long-lived assets at June 30, 2024 and December 31, 2023 were as follows:
(in thousands) | June 30, 2024 |  | December 31, 2023
Total long-lived assets: |  |  |
United States | $ | 192,873 |  |  | $ | 201,388 |
Europe | 50,837 |  |  | 52,267 |
Total Long-lived Assets | $ | 243,710 |  |  | $ | 253,655 |
Revenue by product line for the three and six months ended June 30, 2024 and 2023 were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Revenue: |  |  |  |  |  |  |
Injection Molding | $ | 49,080 |  |  | $ | 48,819 |  |  | $ | 101,743 |  |  | $ | 100,767 |
CNC Machining | 51,239 |  |  | 48,297 |  |  | 101,171 |  |  | 96,401 |
3D Printing | 21,281 |  |  | 21,005 |  |  | 42,863 |  |  | 42,330 |
Sheet Metal | 3,922 |  |  | 3,939 |  |  | 7,475 |  |  | 8,187 |
Other Revenue | 109 |  |  | 205 |  |  | 269 |  |  | 439 |
Total Revenue | $ | 125,631 |  |  | $ | 122,265 |  |  | $ | 253,521 |  |  | $ | 248,124 |

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- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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