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Pay vs Performance Disclosure
Unit_pure in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
 
Pay vs Performance
 
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation
S-K,
we are providing the following information about the relationship between executive Compensation Actually Paid (“CAP”) to our named executive officers (“NEOs”) and the Company’s financial performance. The Company does not use CAP as a basis for making compensation decisions, nor does it use the performance measures defined by the SEC for the Pay versus Performance table to measure performance for incentive plan purposes. For further information concerning the Company’s variable
pay-for-performance
philosophy and how the Company aligns executive compensation
with
the Company’s performance, refer
to
“Executive Compensation Matters – Compensation Discussion
and
Analysis.”
Pay Versus Performance Table
 
 
   
 
Summary
Compensation
Table Total for
CEO and Former
CEO
(1)
 
Compensation
Actually Paid to
CEO and Former CEO
(3)
         
Value of Initial Fixed $100
Investment Based On:
       
Year
 
CEO
(1)
 
Former
CEO
(2)
 
CEO
(1)
 
Former
CEO
(2
)
 
Average
Summary
Compensation
Table Total
for Other
NEOs
(2)
 
Average
Compensation
Actually Paid
to Other
NEOs
(3)
 
Total
Shareholder
Return
(4)
 
Peer Group
Total
Shareholder
Return
(4)
 
Net
Income
(in millions)
 
Adj.
EBITDA
(in millions)
(a)
 
(b)
 
(b)
 
(c)
 
(c)
 
(d)
 
(e)
 
(f)
 
(g)
 
(h)
 
(i)
                     
2022
     $ 5,687,163       
 
 
 
     $ (7,091,673 )    
 
 
 
    $ 1,636,419       $ (1,319,015 )     $ 86       $ 160       $ (121.7 )      $ (5.8 )
                     
2021
     $ 8,574,250       
 
 
 
     $ 15,609,540      
 
 
 
    $ 3,081,939       $ 5,899,487       $ 162       $ 227       $ 322.1        $ 56.1  
                     
2020
     $ 5,917,360         $ 849,757         $ 8,175,388       $ (5,217,672 )     $ 1,248,601       $ 616,092       $ 121       $ 240        $ (149.6 )     $ 27.8  
 
 
  (1)
Dr. Jeffrey Graves, who joined the Company in May 2020, is the Company’s principal executive officer (“CEO”) for 2020, 2021, and 2022. Mr. Vyomesh Joshi, who retired in May 2020, is the Company’s former principal executive officer (“Former CEO”) for 2020.
 
  (2)
The names of each of the NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, Michael Turner, Andrew Johnson, Menno Ellis, Reji Puthenveetil, Jagtar Narula, and Wayne Pensky; (ii) for 2021, Andrew Johnson, Menno Ellis, Reji Puthenveetil, and Jagtar Narula; and (iii) for 2020, Andrew Johnson, Menno Ellis, Reji Puthenveetil, Jagtar Narula, Wayne Pensky, Todd Booth, Philip Schultz
, and
Herbert Koeck.
 
  (3)
SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine CAP as reported herein. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the applicable NEO without restriction during the applicable year but rather are a valuation calculated under applicable SEC rules.
 
      
For purposes of the CAP calculation, there was no actuarial change in pension value or pension related adjustments to report. In addition, for purposes of the equity award adjustments shown below, there are no dividends or interest accrued to report.
 
                              
Add Equity Award Adjustments
 
 
                 
  Year
 
Executives
 
Summary
 Compensation 
Table Total
   
Subtract Grant
 Date Fair Value 
of Awards
Granted During
the Year
   
 Add Year-End 
Value of
Awards
Granted in
the Year
   
 Year over Year 
Change in Fair
Value of
Outstanding
and Unvested
Equity Awards
   
 Fair Value as of 
Vesting Date of
Equity Awards
Granted and
Vested in the
Year
   
Year over Year
Change in Fair
Value of Equity
 Awards Granted 
in Prior Years
that Vested in
the Year
   
Value of
Grants
 Forfeited in 
the Year
 
                 
  2022
  CEO   $ 5,687,163     $ (4,765,861   $ 1,882,109     $ (7,695,443   $ —       $ (2,199,640   $ —    
                 
 
 
  Other NEOs   $ 1,636,419     $ (1,269,985   $ 456,106     $ (1,221,213   $ 14,940     $ (116,787)     $ (818,495
                 
  2021
  CEO   $ 8,574,250     $ (6,378,719   $ 5,693,472     $ 5,445,859     $ —       $ 2,274,678     $ —    
                 
 
 
  Other NEOs   $ 3,081,939     $ (2,302,472   $ 2,022,950     $ 1,973,281     $ —       $ 1,224,538     $ (100,749
                 
  2020
  CEO   $ 5,917,360     $ (4,928,697   $ 6,616,383     $ —       $ 570,343     $ —       $ —    
                 
 
 
  Former CEO   $ 849,757     $ —       $ —       $ 94,849     $ —       $ (6,858)     $ (6,209,420
                 
 
 
  Other NEOs   $ 1,248,601     $ (844,436   $ 772,676     $ 60,044     $ 28,603     $ (7,240)     $ (642,155
 
  (4)
TSR is determined based on the value of an initial fixed investment of $100. The peer group TSR represents TSR of the S&P SmallCap 600 Information Technology Index, which is the peer group used by the Company for purposes of Item 201(e) of Regulation
S-K.
 
                 
  (5)
Adjusted EBITDA is the financial measure from
the
tabular list of 2022 Most Important Measures shown below that, in the Company’s assessment, represents for 2022 the most important performance measure used to link compensation actually paid to our CEO and other NEOs to the Company’s performance. The Company selected this measure as the most important because adjusted EBITDA accounted for 50% of target annual bonus award opportunities for our NEOs in 2022. Adjusted EBITDA is defined on page 32 and is a
non-GAAP
financial measure.
   
Company Selected Measure Name Adjusted EBITDA    
Named Executive Officers, Footnote [Text Block]
  (2)
The names of each of the NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022, Michael Turner, Andrew Johnson, Menno Ellis, Reji Puthenveetil, Jagtar Narula, and Wayne Pensky; (ii) for 2021, Andrew Johnson, Menno Ellis, Reji Puthenveetil, and Jagtar Narula; and (iii) for 2020, Andrew Johnson, Menno Ellis, Reji Puthenveetil, Jagtar Narula, Wayne Pensky, Todd Booth, Philip Schultz
, and
Herbert Koeck.
   
Peer Group Issuers, Footnote [Text Block]
  (4)
TSR is determined based on the value of an initial fixed investment of $100. The peer group TSR represents TSR of the S&P SmallCap 600 Information Technology Index, which is the peer group used by the Company for purposes of Item 201(e) of Regulation
S-K.
   
Adjustment To PEO Compensation, Footnote [Text Block]
  (3)
SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine CAP as reported herein. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the applicable NEO without restriction during the applicable year but rather are a valuation calculated under applicable SEC rules.
 
      
For purposes of the CAP calculation, there was no actuarial change in pension value or pension related adjustments to report. In addition, for purposes of the equity award adjustments shown below, there are no dividends or interest accrued to report.
 
                              
Add Equity Award Adjustments
 
 
                 
  Year
 
Executives
 
Summary
 Compensation 
Table Total
   
Subtract Grant
 Date Fair Value 
of Awards
Granted During
the Year
   
 Add Year-End 
Value of
Awards
Granted in
the Year
   
 Year over Year 
Change in Fair
Value of
Outstanding
and Unvested
Equity Awards
   
 Fair Value as of 
Vesting Date of
Equity Awards
Granted and
Vested in the
Year
   
Year over Year
Change in Fair
Value of Equity
 Awards Granted 
in Prior Years
that Vested in
the Year
   
Value of
Grants
 Forfeited in 
the Year
 
                 
  2022
  CEO   $ 5,687,163     $ (4,765,861   $ 1,882,109     $ (7,695,443   $ —       $ (2,199,640   $ —    
                 
 
 
  Other NEOs   $ 1,636,419     $ (1,269,985   $ 456,106     $ (1,221,213   $ 14,940     $ (116,787)     $ (818,495
                 
  2021
  CEO   $ 8,574,250     $ (6,378,719   $ 5,693,472     $ 5,445,859     $ —       $ 2,274,678     $ —    
                 
 
 
  Other NEOs   $ 3,081,939     $ (2,302,472   $ 2,022,950     $ 1,973,281     $ —       $ 1,224,538     $ (100,749
                 
  2020
  CEO   $ 5,917,360     $ (4,928,697   $ 6,616,383     $ —       $ 570,343     $ —       $ —    
                 
 
 
  Former CEO   $ 849,757     $ —       $ —       $ 94,849     $ —       $ (6,858)     $ (6,209,420
                 
 
 
  Other NEOs   $ 1,248,601     $ (844,436   $ 772,676     $ 60,044     $ 28,603     $ (7,240)     $ (642,155
   
Non-PEO NEO Average Total Compensation Amount $ 1,636,419 $ 3,081,939 $ 1,248,601
Non-PEO NEO Average Compensation Actually Paid Amount $ (1,319,015) 5,899,487 616,092
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
  (3)
SEC rules require certain adjustments be made to the Summary Compensation Table totals to determine CAP as reported herein. The dollar amounts do not reflect the actual amount of compensation earned by or paid to the applicable NEO without restriction during the applicable year but rather are a valuation calculated under applicable SEC rules.
 
      
For purposes of the CAP calculation, there was no actuarial change in pension value or pension related adjustments to report. In addition, for purposes of the equity award adjustments shown below, there are no dividends or interest accrued to report.
 
                              
Add Equity Award Adjustments
 
 
                 
  Year
 
Executives
 
Summary
 Compensation 
Table Total
   
Subtract Grant
 Date Fair Value 
of Awards
Granted During
the Year
   
 Add Year-End 
Value of
Awards
Granted in
the Year
   
 Year over Year 
Change in Fair
Value of
Outstanding
and Unvested
Equity Awards
   
 Fair Value as of 
Vesting Date of
Equity Awards
Granted and
Vested in the
Year
   
Year over Year
Change in Fair
Value of Equity
 Awards Granted 
in Prior Years
that Vested in
the Year
   
Value of
Grants
 Forfeited in 
the Year
 
                 
  2022
  CEO   $ 5,687,163     $ (4,765,861   $ 1,882,109     $ (7,695,443   $ —       $ (2,199,640   $ —    
                 
 
 
  Other NEOs   $ 1,636,419     $ (1,269,985   $ 456,106     $ (1,221,213   $ 14,940     $ (116,787)     $ (818,495
                 
  2021
  CEO   $ 8,574,250     $ (6,378,719   $ 5,693,472     $ 5,445,859     $ —       $ 2,274,678     $ —    
                 
 
 
  Other NEOs   $ 3,081,939     $ (2,302,472   $ 2,022,950     $ 1,973,281     $ —       $ 1,224,538     $ (100,749
                 
  2020
  CEO   $ 5,917,360     $ (4,928,697   $ 6,616,383     $ —       $ 570,343     $ —       $ —    
                 
 
 
  Former CEO   $ 849,757     $ —       $ —       $ 94,849     $ —       $ (6,858)     $ (6,209,420
                 
 
 
  Other NEOs   $ 1,248,601     $ (844,436   $ 772,676     $ 60,044     $ 28,603     $ (7,240)     $ (642,155
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block] LOGO    
Compensation Actually Paid vs. Net Income [Text Block] LOGO    
Compensation Actually Paid vs. Company Selected Measure [Text Block] LOGO    
Total Shareholder Return Vs Peer Group [Text Block] LOGO    
Tabular List [Table Text Block]
Financial Performance Measures
 
As described in greater detail in “Executive Compensation Matters – Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable
pay-for-performance
philosophy. The metrics that the Company uses for both our annual and long-term incentive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our stockholders. The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs for the most recently completed fiscal year to the Company’s performance are as follows:
 
 
Revenue
 
 
Adjusted EBITDA
 
 
Relative TSR (the Company’s TSR as compared to the 3DPRNT Index)
   
Total Shareholder Return Amount $ 86 162 121
Peer Group Total Shareholder Return Amount 160 227 240
Net Income (Loss) $ (121,700,000) $ 322,100,000 $ (149,600,000)
Company Selected Measure Amount (5.8) 56.1 27.8
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Revenue    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted EBITDA    
Non-GAAP Measure Description [Text Block] Adjusted EBITDA is defined on page 32 and is a
non-GAAP
financial measure.
   
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Relative TSR (the Company’s TSR as compared to the 3DPRNT Index)    
Dr. Jeffrey Graves [Member]      
Pay vs Performance Disclosure [Table]      
PEO Total Compensation Amount $ 5,687,163 $ 8,574,250 $ 5,917,360
PEO Actually Paid Compensation Amount $ (7,091,673) 15,609,540 8,175,388
PEO Name Dr. Jeffrey Graves    
Mr. Vyomesh Joshi [Member]      
Pay vs Performance Disclosure [Table]      
PEO Total Compensation Amount     849,757
PEO Actually Paid Compensation Amount     (5,217,672)
PEO Name Mr. Vyomesh Joshi    
PEO [Member] | Dr. Jeffrey Graves [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (7,695,443) 5,445,859 0
PEO [Member] | Dr. Jeffrey Graves [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 570,343
PEO [Member] | Dr. Jeffrey Graves [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,199,640) 2,274,678 0
PEO [Member] | Dr. Jeffrey Graves [Member] | Grant Date Fair Value of Awards Granted During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (4,765,861) (6,378,719) (4,928,697)
PEO [Member] | Dr. Jeffrey Graves [Member] | YearEnd Value of Awards Granted in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,882,109 5,693,472 6,616,383
PEO [Member] | Dr. Jeffrey Graves [Member] | Value of Grants Forfeited in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
PEO [Member] | Mr. Vyomesh Joshi [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     94,849
PEO [Member] | Mr. Vyomesh Joshi [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     0
PEO [Member] | Mr. Vyomesh Joshi [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     (6,858)
PEO [Member] | Mr. Vyomesh Joshi [Member] | Grant Date Fair Value of Awards Granted During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     0
PEO [Member] | Mr. Vyomesh Joshi [Member] | YearEnd Value of Awards Granted in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     0
PEO [Member] | Mr. Vyomesh Joshi [Member] | Value of Grants Forfeited in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     (6,209,420)
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,221,213) 1,973,281 60,044
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 14,940 0 28,603
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (116,787) 1,224,538 (7,240)
Non-PEO NEO [Member] | Grant Date Fair Value of Awards Granted During the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (1,269,985) (2,302,472) (844,436)
Non-PEO NEO [Member] | YearEnd Value of Awards Granted in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 456,106 2,022,950 772,676
Non-PEO NEO [Member] | Value of Grants Forfeited in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (818,495) $ (100,749) $ (642,155)