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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2012	Mar. 08, 2013	Jun. 29, 2012
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	PRLB
Entity Registrant Name	Proto Labs Inc
Entity Central Index Key	0001443669
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		25,120,156
Entity Public Float			$ 162,700,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 36,759	$ 8,135
Short-term marketable securities	25,137	250
Accounts receivable, net of allowance for doubtful accounts of $154 and $97 as of December 31, 2012 and December 31, 2011, respectively	15,791	11,533
Inventory	4,619	3,797
Prepaid expenses and other current assets	5,364	3,430
Deferred tax assets	609	932
Income taxes receivable	1,877
Total current assets	90,156	28,077
Property and equipment, net	45,316	34,249
Long-term marketable securities	36,965
Other assets	285
Total assets	172,722	62,326
Current liabilities
Accounts payable	4,758	4,431
Accrued compensation	5,995	4,767
Accrued liabilities and other	513	318
Income taxes payable		33
Current portion of long-term debt obligations	273	390
Total current liabilities	11,539	9,939
Deferred tax liabilities	3,346	4,252
Long-term debt obligations	356	613
Other	782	871
Shareholders' equity (deficit)
Preferred stock, $0.001 par value, authorized 10,000,000 and 0 shares; issued and outstanding 0 shares as of December 31, 2012 and December 31, 2011, respectively
Common stock, $0.001 par value, authorized 150,000,000 shares; issued and outstanding 24,803,640 and 9,706,270 shares as of December 31, 2012 and December 31, 2011, respectively	25	10
Additional paid in capital	147,032	8,229
Accumulated equity (deficit)	10,570	(27,744)
Accumulated other comprehensive income (loss)	(928)	(738)
Total shareholders' equity (deficit)	156,699	(20,243)
Total liabilities, redeemable convertible preferred stock, redeemable common stock and shareholders' equity (deficit)	$ 172,722	62,326
Redeemable Convertible Preferred Stock
Redeemable convertible stock
Redeemable stock		66,075
Redeemable Common Stock
Redeemable convertible stock
Redeemable stock		$ 819

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Allowance for doubtful accounts	$ 154	$ 97
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	24,803,640	9,706,270
Common stock, shares outstanding	24,803,640	9,706,270
Redeemable Convertible Preferred Stock
Redeemable stock, par value	$ 0.001	$ 0.001
Redeemable stock, shares authorized	0	427,985
Redeemable stock, shares issued	0	427,985
Redeemable stock, shares outstanding	0	427,985
Redeemable Common Stock
Redeemable stock, par value	$ 0.001	$ 0.001
Redeemable stock, shares issued	0	3,189,648
Redeemable stock, shares outstanding	0	3,189,648

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue	$ 125,991	$ 98,939	$ 64,919
Cost of revenue	49,853	39,324	25,443
Gross profit	76,138	59,615	39,476
Operating expenses
Marketing and sales	18,098	15,752	10,867
Research and development	9,137	5,222	4,281
General and administrative	13,957	11,772	7,629
Loss on impairment of foreign subsidiary assets			773
Total operating expenses	41,192	32,746	23,550
Income from operations	34,946	26,869	15,926
Other income (expense), net	23	(114)	(213)
Income before income taxes	34,969	26,755	15,713
Provision for income taxes	10,944	8,783	4,762
Net income	24,025	17,972	10,951
Less: dividends on redeemable preferred stock		(4,179)	(4,179)
Less: undistributed earnings allocated to preferred shareholders		(4,507)	(2,377)
Net income attributable to common shareholders	$ 24,025	$ 9,286	$ 4,395
Net income per share:
Basic	$ 1.03	$ 0.75	$ 0.40
Diluted	$ 0.98	$ 0.67	$ 0.34
Shares used to compute net income per share:
Basic	23,373,593	12,352,004	11,079,432
Diluted	24,443,665	13,939,072	13,051,458
Other Comprehensive Income, net of tax
Foreign currency translation adjustments	$ (190)	$ (280)	$ (214)
Comprehensive income	$ 23,835	$ 17,692	$ 10,737

Consolidated Statements of Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Redeemable Common Stock	Common Stock	Common Stock Redeemable Convertible Preferred Stock	Common Stock Redeemable Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Redeemable Convertible Preferred Stock	Additional Paid-In Capital Redeemable Common Stock	Accumulated Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning Balance (in shares) at Dec. 31, 2009				7,397,922
Beginning Balance at Dec. 31, 2009	$ (43,036)			$ 7			$ 5,510			$ (48,309)	$ (244)
Common shares issued on exercise of options (in shares)				615,328
Common shares issued on exercise of options	56			$ 1			55
Preferred stock dividends	(4,179)									(4,179)
Stock-based compensation expense	331						331
Net income	10,951									10,951
Other comprehensive income
Foreign currency translation adjustment	(214)										(214)
Comprehensive income	10,737
Ending Balance (in shares) at Dec. 31, 2010				8,013,250
Ending Balance at Dec. 31, 2010	(36,091)			$ 8			5,896			(41,537)	(458)
Common shares issued on exercise of options (in shares)				166,838
Common shares issued on exercise of options	$ 706						706
Common shares issued on exercise of warrants (in shares)	1,526,182			1,526,182
Excess tax benefit from stock option exercises	$ 657
Common shares issued on exercise of warrants	499			$ 2			497
Preferred stock dividends	(4,179)									(4,179)
Stock-based compensation expense	1,130						1,130
Net income	17,972									17,972
Other comprehensive income
Foreign currency translation adjustment	(280)										(280)
Comprehensive income	$ 17,692
Ending Balance (in shares) at Dec. 31, 2011	9,706,270			9,706,270
Ending Balance at Dec. 31, 2011	$ (20,243)			$ 10			8,229			(27,744)	(738)
Common shares issued upon initial public offering (in shares)				4,945,000
Common shares issued upon initial public offering	71,530			$ 5			71,525
Common shares issued upon follow-on offering (in shares)				100,000
Common shares issued upon follow-on offering	2,451						2,451
Common shares issued upon conversion (in shares)					5,991,790	3,189,648
Common shares issued upon conversion		$ 66,075	$ 819		$ 6	$ 3		$ 66,069	$ 816
Common shares issued on exercise of options (in shares)				870,932
Common shares issued on exercise of options	$ 2,975			$ 1			2,974
Common shares issued on exercise of warrants (in shares)	105,000
Excess tax benefit from stock option exercises	$ 6,218						6,218
Preferred stock dividends							(14,289)			14,289
Stock-based compensation expense	3,039						3,039
Net income	24,025									24,025
Other comprehensive income
Foreign currency translation adjustment	(190)										(190)
Comprehensive income	$ 23,835
Ending Balance (in shares) at Dec. 31, 2012	24,803,640			24,803,640
Ending Balance at Dec. 31, 2012	$ 156,699			$ 25			$ 147,032			$ 10,570	$ (928)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating activities
Net income	$ 24,025	$ 17,972	$ 10,951
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,080	4,264	3,483
Stock-based compensation expense	3,039	1,130	331
Deferred taxes	(583)	2,230	561
Excess tax benefit from stock-based compensation	(6,218)	(657)
Loss on impairment of foreign subsidiary assets			773
Loss (gain) on disposal of property and equipment	154	(10)	26
Changes in operating assets and liabilities:
Accounts receivable	(4,372)	(3,457)	(2,993)
Inventories	(829)	(2,195)	(537)
Prepaid expenses and other	(1,887)	(591)	(801)
Income taxes	4,314	37	(104)
Accounts payable	306	1,545	1,148
Accrued liabilities and other	1,277	3,267	1,174
Net cash provided by operating activities	25,306	23,535	14,012
Investing activities
Proceeds from sale of property and equipment			30
Purchases of property and equipment	(17,397)	(19,003)	(7,069)
Purchases of marketable securities	(84,219)		(1,504)
Proceeds from maturities of marketable securities	22,368	500	2,502
Net cash used in investing activities	(79,248)	(18,503)	(6,041)
Financing activities
Proceeds from initial public offering, net of offering costs	71,530
Proceeds from follow-on offering, net of offering costs	2,451
Proceeds from issuance of debt			417
Payments on debt	(388)	(4,049)	(4,702)
Proceeds from exercises of warrants and stock options	2,975	547	56
Excess tax benefit from stock-based compensation	6,218	657
Net cash provided by (used in) financing activities	82,786	(2,845)	(4,229)
Effect of exchange rate changes on cash and cash equivalents	(220)	(153)	(344)
Net increase in cash and cash equivalents	28,624	2,034	3,398
Cash and cash equivalents, beginning of period	8,135	6,101	2,703
Cash and cash equivalents, end of period	36,759	8,135	6,101
Supplemental cash flow disclosure
Cash paid for interest	63	140	256
Cash paid for taxes	$ 7,990	$ 5,358	$ 4,663

Nature of Business

12 Months Ended

Dec. 31, 2012

Nature of Business

Note 1 – Nature of Business

Organization and business

Proto Labs, Inc. and its subsidiaries (Proto Labs, the Company, we, us, or our) is an online and technology-enabled manufacturer of quick-turn computer numerical control (CNC) machined and injection molded custom parts for prototyping and short-run production. The Company’s customers are product developers worldwide who require a faster and less expensive way to obtain low volumes of parts. The Company’s proprietary technology eliminates most of the time-consuming and expensive skilled labor conventionally required to quote and manufacture parts in low volumes, and its customers conduct nearly all of their business with the Company over the Internet. The Company targets its services to the millions of product developers who use three-dimensional (3D) computer-aided design (CAD) software to design products across a diverse range of end-markets. The Company has established operations in the United States, Europe and Japan, which the Company believes, are three of the largest geographic markets where these product developers are located. The Company’s primary manufacturing services currently include Firstcut, which is a CNC machining service, and Protomold, which is a plastic injection molding service. Proto Labs, Inc. is located in Maple Plain, Minnesota. The Company’s subsidiaries, Proto Labs Limited and Proto Labs G.K. are located in Telford, United Kingdom and Yamato-Shi, Kanagawa, Japan, respectively.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Proto Labs Limited and Proto Labs G.K. All significant intercompany accounts and transactions have been eliminated in consolidation.

Public offerings

In February 2012, the Company issued 4.9 million shares of common stock (including the exercise of the underwriters’ over-allotment shares) in conjunction with its initial public offering (IPO). The public offering price of the shares sold in the offering was $16.00 per share. The total gross proceeds from the IPO to the Company were $79.1 million. After deducting underwriting discounts and commissions and offering expenses payable by the Company, the aggregate net proceeds received by the Company totaled approximately $71.5 million. As of December 31, 2012, all offering costs have been recorded.

Immediately prior to the consummation of the IPO, all outstanding shares of redeemable convertible preferred stock and redeemable common stock were converted into shares of common stock. Shares of redeemable convertible preferred stock were converted into 5,991,790 shares of common stock. All previously accrued dividends on the preferred stock have been released back into retained earnings as of December 31, 2012. Shares of redeemable common stock were converted into 3,189,648 shares of common stock.

In November 2012, the Company issued 100,000 shares of common stock in connection with a follow-on offering. The public offering price of the shares sold in the offering was $31.00 per share. The total gross proceeds from the follow-on offering to the Company were $3.1 million. After deducting underwriting discounts and commissions and offering expenses payable by the Company, the aggregate net proceeds received by the Company totaled approximately $2.5 million. As of December 31, 2012, all offering costs have been recorded.

Stock split

On February 21, 2012, the Company executed a 14-for-1 forward stock split of the Company’s common stock. The consolidated financial statements for all periods and dates presented give retroactive effect to the stock split.

Comprehensive income

Components of comprehensive income include net income and foreign currency translation adjustments. Comprehensive income is disclosed in the accompanying consolidated statements of comprehensive income and consolidated statements of shareholders’ equity (deficit).

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 highly liquid investments with maturities of three months or less at the date of purchase. Cash equivalents are stated at fair value. 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.

Accounts receivable and allowance for doubtful accounts

Accounts receivable are reported at the invoiced amount less an allowance for doubtful accounts. On a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts 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 or market, using the average-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 7 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 related asset is put into use.

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 support the possibility of impairment, 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

The Company recognizes revenue when it is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Revenue is recognized upon transfer of title and risk of loss, which is generally upon the shipment of parts in our Firstcut product line and upon the shipment of the parts made from the mold in our Protomold product line. Freight billed to customers is included in revenues, and all freight expenses paid by the Company are included in cost of revenue. The Company also records a provision for estimated product returns and allowances in the period in which the related revenue is recorded. This provision against current gross revenue is based principally on historical rates of sales returns.

Income taxes

The Company accounts for income taxes in accordance with Accounting Standards Codification (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 current year’s 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.

ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements by defining a criterion that an individual tax position must meet for any part of the benefit of that position to be recognized in an enterprise’s financial statements. Additionally, ASC 740 provides guidance on measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

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 estimates pre-vesting award forfeitures at the time of grant by analyzing historical data and revises those estimates in subsequent periods if actual forfeitures differ from those estimates. 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 $5.9 million, $5.8 million and $3.6 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Research and development

Research and development expenses consist primarily of personnel and outside service costs related to the development of new processes and services, enhancement of existing services, quality assurance, and testing. The Company follows ASC 350-40, Internal Use Software (ASC 350-40), in accounting for internally developed software. At December 31, 2012, 2011 and 2010, all internal use software projects were in the post-implementation/operation stage and therefore, no software development costs were capitalized. Research and development costs were approximately $9.1 million, $5.2 million and $4.3 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Foreign currency translation/transactions

The Company translated the balance sheets of its foreign subsidiaries, Proto Labs Limited and Proto Labs G.K., 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 (deficit). Foreign currency transaction gains and losses are recognized in the consolidated statements of comprehensive income.

Recent accounting pronouncements

In April 2012, President Obama signed into law the Jumpstart Our Business Startups Act (JOBS Act), which establishes a new category of issuer called an emerging growth company. Under the JOBS Act, an emerging growth company is defined as an issuer with total annual gross revenues less than $1 billion during its most recently completed fiscal year. An issuer continues to be eligible for emerging growth company status until the earliest of (1) the last day of the fiscal year during which it had total annual gross revenues of $1 billion or more (as indexed for inflation in the manner set forth in the JOBS Act), (2) the last day of the fiscal year of the issuer following the fifth anniversary of the date of its IPO, (3) the date on which it issued more than $1 billion in non-convertible debt in the previous three-year period, or (4) the date on which it became a large accelerated filer as defined in Rule 12b-2 of the Securities Exchange Act of 1934.

The JOBS Act exempts an emerging growth company from the following requirements during the period of eligibility:

•

Having an independent auditor assess its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act of 2002. However, an emerging growth company would still have to comply with the Section 404(a) requirement that management assess its internal control over financial reporting, generally beginning with its second annual report on Form 10-K.

•

Adopting new or revised accounting standards that are effective for public companies. Instead, the effective dates of such accounting standards for private companies would apply.

•

Complying with “say-on-pay” vote requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act. An emerging growth company would satisfy executive compensation disclosures in a manner consistent with a smaller reporting company.

•

Complying with future changes to Public Company Accounting Oversight Board auditing standards related to mandatory audit firm rotation and an Auditors Discussion & Analysis statement (if adopted). Other new standards would not apply to audits of emerging growth companies unless the SEC decides that they should after considering the protection of investors and whether the action will promote efficiency, competition and capital formation.

With the exception of the treatment for accounting standards, each of these exemptions is voluntary and an emerging growth company may choose to operate as an emerging growth company as it deems appropriate. Section 107(b) of the JOBS Act permits an emerging growth company to “opt out” of the exemption to adopt new or revised accounting standards when they are effective for private companies and instead apply such standards on the same basis as a public company. Under Section 107(b)(3), such decision to opt-out is irrevocable, and the emerging growth company must continue to comply with such standards to the same extent that a public company is required for as long as the company remains an emerging growth company.

Under the JOBS Act, we meet the definition of an emerging growth company. During the period we continue to be eligible for emerging growth company status, we will apply new or revised accounting standards following the effective dates for private companies. In the event a new or revised accounting standard, that we feel provides value to our business, investors or users of our financial statements, becomes effective for public companies prior to private companies and does not permit early adoption, we will invoke the “opt out” under the JOBS act and, from that point forward, adopt new or revised accounting standards on the same basis as a public company.

In May 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS (ASU 2011-04). This accounting update generally aligns the principles for fair value measurements and the related disclosure requirements under U.S. GAAP and International Financial Reporting Standards. From a U.S. GAAP perspective, the amendments are largely clarifications, but some could have a significant effect on certain companies. A number of new disclosures also are required. Except for certain disclosures, the guidance applies to public and nonpublic companies and is to be applied prospectively. For public and nonpublic companies, the amendments are effective during interim and annual periods beginning after December 15, 2011. The Company adopted this accounting guidance effective January 1, 2012. The adoption of ASU 2011-04 did not result in a material impact to the Company’s financial statements.

In June 2011, the FASB issued ASU 2011-05, Presentation of Comprehensive Income (ASU 2011-05). This accounting update requires entities to present items of net income and other comprehensive income either in a single continuous statement, or in separate, but consecutive, statements of net income and other comprehensive income. The new requirements do not change which components of comprehensive income are recognized in net income or other comprehensive income, or when an item of other comprehensive income must be reclassified to net income. However, the current option under existing standards to report other comprehensive income and its components in the statement of changes in equity is eliminated. In December 2011, the FASB issued ASU 2011-12, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05 (ASU 2011-12). The updated guidance defers the requirement in ASU 2011-05 to present on the face of the financial statements the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. The amendments apply to public and nonpublic companies and are to be applied retrospectively. For public entities, the amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company adopted this accounting guidance effective January 1, 2012 and has presented the items of net income and other comprehensive income in a single continuous statement in this report. The adoption of ASU 2011-05 and ASU 2011-12 did not result in a material impact to the Company’s financial statements.

Net Income Per Common Share

12 Months Ended

Dec. 31, 2012

Net Income Per Common Share

Note 3 – Net Income Per Common Share

Basic and diluted net income or loss per common share for 2012 is presented in conformity with the single-class method, and for 2011 and 2010, respectively, is presented in conformity with the two-class method required for participating securities. Prior to the Company’s IPO, the Company had outstanding redeemable convertible preferred stock. The holder of the Company’s redeemable convertible preferred stock was entitled to receive cumulative dividends at the rate of 8% per annum, payable prior and in preference to any dividends on any shares of the Company’s common stock. In addition, in the event a dividend was paid on common stock, the holder of redeemable convertible preferred stock was entitled to a proportionate share of any such dividend as if it was a holder of common stock (on an as-if converted basis). The Company considered its redeemable preferred stock to be participating securities and, in accordance with the two-class method, earnings allocated to preferred stock in 2011 and 2010, respectively, have been excluded from the computation of basic and diluted net income or loss per common share for those years.

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.

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)	2012		2011			2010
Net Income	$	24,025	$	17,972		$	10,951
Less: dividends on redeemable convertible preferred stock		—		(4,179	)		(4,179	)
Less: undistributed earnings allocated to preferred shareholders		—		(4,507	)		(2,377	)

Net income attributable to common shareholders	$	24,025	$	9,286		$	4,395

Basic—weighted-average shares outstanding:		23,373,593		12,352,004			11,079,432
Effect of dilutive securities:
Employee stock options, warrants and other		1,070,072		1,587,068			1,972,026

Diluted—weighted-average shares outstanding:		24,443,665		13,939,072			13,051,458

Net income per share attributable to common shareholders:
Basic	$	1.03	$	0.75		$	0.40

Diluted	$	0.98	$	0.67		$	0.34

Weighted-average diluted shares for the years ended December 31, 2011 and 2010, respectively, excludes redeemable convertible preferred stock as it was anti-dilutive for the period.

The following table sets forth the calculation of unaudited pro forma net income per basic and diluted share which gives effect to the conversion of all outstanding shares of redeemable convertible preferred stock as if the conversion had occurred on January 1, 2010:


	Year Ended December 31,
(in thousands, except share and per share amounts)	2012		2011		2010
Net income attributable to common shareholders, as reported	$	24,025	$	9,286	$	4,395
Dividends on redeemable convertible preferred stock		—		4,179		4,179
Undistributed earnings allocated to preferred shareholders		—		4,507		2,377

Pro forma net income	$	24,025	$	17,972	$	10,951

Basic—weighted-average shares outstanding, as reported		23,373,593		12,352,004		11,079,432
Add: common shares from conversion of redeemable convertible preferred shares		—		5,991,790		5,991,790

Pro forma basic weighted average shares outstanding		23,373,593		18,343,794		17,071,222

Effect of dilutive securities:
Employee stock options, warrants and other		1,070,072		1,587,068		1,972,026

Pro forma diluted—weighted-average shares outstanding:		24,443,665		19,930,862		19,043,248

Pro forma net income per share attributable to common shareholders:
Basic	$	1.03	$	0.98	$	0.64

Diluted	$	0.98	$	0.90	$	0.58

Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Measurements

Note 4 – 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 cash consists of bank deposits. The Company’s cash equivalents measured at fair value as of December 31, 2012 consist of money market mutual funds. The Company’s short-term marketable securities measured at fair value as of December 31, 2011 consisted of domestic certificates of deposits at various banks and treasury notes. The Company determines the fair value of these financial assets using Level I inputs.

A summary of financial assets measured at fair value on a recurring basis is as follows:


	December 31, 2012						December 31, 2011
(in thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents
Money market mutual fund	$	16,164	$	—	$	—	$	—	$	—	$	—
Short-term marketable securities
Certificates of deposit and treasury notes		—		—		—		250		—		—

Total	$	16,164	$	—	$	—	$	250	$	—	$	—

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Marketable Securities

12 Months Ended

Dec. 31, 2012

Marketable Securities

Note 5 – Marketable Securities

The Company invests in short-term and long-term agency, municipal, corporate commercial paper and other debt securities. The securities are categorized as held-to-maturity and are recorded at amortized cost. Categorization as held-to-maturity is based on the Company’s ability and intent to hold these securities to maturity. Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2012 is as follows:


	December 31, 2012
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. government agency securities	$	23,011	$	2	$	(4	)	$	23,009
Corporate debt securities		14,675		18		(14	)		14,679
Commercial paper		1,500		—		—			1,500
U.S. municipal securities		17,971		3		(12	)		17,962
Certificates of deposit/time deposits		4,945		3		(1	)		4,947

Total marketable securities	$	62,102	$	26	$	(31	)	$	62,097

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

The Company tests for other than temporary losses on a quarterly basis and has considered the unrealized losses indicated above to be temporary in nature. The investment policy adopted by the Company dictates that only investments in quality, highly rated debt securities are permitted. Those unrealized losses displayed above are the result of macroeconomic factors and are not indicative of the quality of the underlying security nor the issuer’s ability to pay its debt. The Company intends, and has the ability, to hold the investments to maturity and recover the full principal.

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, 2012 balance of held-to-maturity debt securities by contractual maturity is shown in the following table at amortized cost. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.


	December 31,
(in thousands)	2012
Due in one year or less	$	25,137
Due after one year through five years		36,965

Total marketable securities	$	62,102

Property and Equipment

12 Months Ended

Dec. 31, 2012

Property and Equipment

Note 6 – Property and Equipment

Property and equipment consists of the following:


	December 31,
(in thousands)	2012			2011
Land	$	2,830		$	2,830
Buildings and improvements		13,114			8,794
Machinery and equipment		39,209			28,178
Computer hardware and software		5,019			4,102
Leasehold improvements		2,921			1,811
Construction in progress		1,903			2,521
Capital leases		1,512			1,493

		66,508			49,729
Accumulated depreciation and amortization		(21,192	)		(15,480	)

Property and equipment, net	$	45,316		$	34,249

Depreciation and amortization expense for the years ended December 31, 2012, 2011 and 2010 was $6.1 million, $4.3 million and $3.5 million, respectively.

During 2010, the Company determined that certain equipment held by Proto Labs G.K. was impaired. This resulted in an impairment charge of $0.8 million for the year ended December 31, 2010.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Inventory

12 Months Ended

Dec. 31, 2012

Inventory

Note 7 – Inventory

Inventory consists primarily of raw materials, which are recorded at the lower of cost or market using the average-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)	2012			2011
Raw materials	$	4,174		$	3,463
Work in process		530			418

Total inventory		4,704			3,881
Allowance for obsolescence		(85	)		(84	)

Inventory, net of allowance	$	4,619		$	3,797

Financing Obligations

12 Months Ended

Dec. 31, 2012

Financing Obligations

Note 8 – Financing Obligations

The Company’s debt consists of the following:


	December 31,
(in thousands)	2012		2011
Various obligations under capital leases, with interest rates from 4.5% to 7.4%, due in various monthly installments, including interest, through various dates through January 2016, secured by equipment	$	629	$	1,003
Less current portion		273		390

Long-term obligation	$	356	$	613

Maturities on long-term debt obligations at December 31, 2012 are as follows:

Years Ending December 31,
(in thousands)
2013	$	273
2014		200
2015		146
2016		10

	$	629

The Company has a revolving line of credit expiring September 30, 2013, if not renewed. Under this revolving line of credit, the Company can borrow a maximum amount of $10 million at an interest rate equal to LIBOR plus 1.5% (1.75% on December 31, 2012). The revolving line of credit is secured by substantially all assets of the Company. The revolving line of credit includes a covenant limiting investments in foreign subsidiaries exceeding $10 million and includes certain financial thresholds such as net income and tangible net worth. As of December 31, 2012, there were no advances outstanding under the revolving line of credit and the Company was in compliance with all terms and conditions of the revolving line of credit.

- 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.

+ References + Details

Employee Benefit Plans

12 Months Ended

Dec. 31, 2012

Employee Benefit Plans

Note 9 – Employee Benefit Plans

The Company maintains a 401(k) retirement plan that covers most of its employees. Under the plan, a full-time or regular part-time (over 20 hours/week) employee becomes a participant after completing six 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 $0.5 million for the year ended December 31, 2012, $0.4 million for the year ended December 31, 2011 and $0.3 million for the year ended December 31, 2010.

The Company also sponsors a defined contribution retirement plan that covers the employees of Proto Labs Limited. Total employer contributions were immaterial for the years ended December 31, 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2012

Stock-Based Compensation

Note 10 – Stock-Based Compensation

The Company has two equity incentive plans: the 2000 Stock Option Plan (2000 Plan) and the 2012 Long-Term Incentive Plan (2012 Plan). Upon the adoption of the 2012 Plan on February 21, 2012, all shares that were reserved under the 2000 Plan but not issued were assumed by the 2012 Plan. No additional shares will be issued under the 2000 Plan. Under the 2012 Plan, the Company has the ability to grant stock options, stock appreciation rights (SARs), restricted stock, stock units, other stock-based awards and cash incentive awards. Awards under the 2012 Plan will have a maximum term of ten years from the date of grant. The compensation committee of the Board of Directors 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 committee will determine whether such measures have been achieved. The per share exercise price of stock options and SARs granted under the 2012 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’s 2012 Employee Stock Purchase Plan (ESPP) became effective on February 23, 2012. The ESPP allows eligible employees to purchase 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, 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. Due to the timing of the IPO, the initial offering period under the ESPP was approximately eight-and-a-half months from the offering date of February 23, 2012 ending on November 15, 2012.

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 highly 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, fair value of Company common stock, stock price volatility and forfeiture rates.

The expected term represents the weighted average period that the Company’s stock options are expected to be outstanding. The expected term is based on the observed and expected time to post-vesting exercise of options by employees and non-employee directors and considers the impact of post-vesting award forfeitures. Prior to its IPO, the Company estimated the fair value of its common stock using the assistance of an independent third-party valuation specialist using the income and market approach. As the Company operated as a private company with a limited market for its stock from the Company’s inception to the completion of its IPO on February 29, 2012, the Company based its assumptions on the volatility of stock price using outside valuation services and an estimate of the volatility of its common stock based on volatility of a peer group of comparable publicly traded companies for which historical information is available. 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. In order to properly attribute compensation expense, the Company is required to estimate pre-vesting forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. The Company uses historical data to estimate pre-vesting forfeitures and record stock-based compensation expense for those awards that are expected to vest. If the Company’s actual forfeiture rate is materially different from its estimate, stock-based compensation expense could be significantly different from what has been recorded. The Company allocates 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, 2012, 2011 and 2010, respectively:


	Year Ended December 31,
(in thousands)	2012			2011			2010
Cost of revenue	$	335		$	78		$	39
Operating expenses:
Marketing and sales		418			215			84
Research and development		486			274			73
General and administrative		1,800			563			135

Total stock-based compensation expense		3,039			1,130			331

Income tax benefits		(844	)		(338	)		(56	)

Total stock-based compensation expense, net of tax	$	2,195		$	792		$	275

The following table provides the assumptions used in the Black-Scholes option pricing model for the years ended December 31, 2012, 2011 and 2010:


	Year Ended December 31,
	2012			2011			2010
Risk-free interest rate		0.95 - 1.16	%		3.68	%		3.35	%
Expected life (years)		5.5 - 6.5			5			10
Expected volatility		53.00 - 53.14	%		47.32	%		38.05	%
Expected dividend yield		0	%		0	%		0	%
Weighted average grant date fair value		$ 14.79		$	8.99		$	4.27

The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2012, 2011 and 2010:


				Weighted-
				Average
	Stock Options			Exercise Price
Options outstanding at January 1, 2010		2,080,666		$	1.83
Granted		658,000			7.86
Exercised		(615,328	)		0.09
Cancelled		(84,000	)		4.02

Options outstanding at December 31, 2010		2,039,338			5.25
Granted		224,000			20.07
Exercised		(164,038	)		0.29
Cancelled		—			—

Options outstanding at December 31, 2011		2,099,300			6.18
Granted		259,800			28.67
Exercised		(667,243	)		2.41
Cancelled		(500	)		30.58

Options outstanding at December 31, 2012		1,691,357		$	11.11

Exercisable at December 31, 2012		802,990		$	5.91

The outstanding options generally have a term of 10 years. For employees, options that have been granted become exercisable ratably over the vesting period, which is generally a 5-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, 2012, 2011 and 2010 was $19.6 million, $2.5 million and $3.4 million, respectively. 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, 2012, the weighted-average remaining contractual term was 7.0 years and the aggregate intrinsic value was $47.9 million. For options exercisable at December 31, 2012, the weighted-average remaining contractual term was 5.5 years and the aggregate intrinsic value was $26.9 million. Refer to the table below for additional information.

The following table summarizes information about stock options outstanding at December 31, 2012:


	Options Outstanding, Vested and Expected to Vest						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price ($)		Number Exercisable		Weighted Average Exercise Price ($)
$0.50 to $1.79		162,850		2.17	$	1.12		162,850	$	1.12
$2.66 to $5.00		283,852		4.30		3.53		255,852		3.40
$5.56		127,005		6.34		5.56		62,605		5.56
$7.86		635,750		7.97		7.86		254,950		7.86
$16.00 to $20.07		264,600		8.58		19.42		66,733		20.07
$30.58 to $36.41		217,300		9.40		31.12		—		—

The fair value of share-based payment transactions is recognized in the statements of comprehensive income. As of December 31, 2012, there was $5.6 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 2.7 years. The total fair value of options vested was $1.3 million, $5.6 million and $1.2 million for the years ended December 31, 2012, 2011 and 2010, respectively.

The following table presents the assumptions used to estimate the fair value of the ESPP during the year ended December 31, 2012:


	Year ended December 31, 2012
Risk-free interest rate		0.13 - 0.16	%
Expected life (months)		6 - 8.5
Expected volatility		53.00 - 53.14	%
Expected dividend yield		0	%

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Commitments

12 Months Ended

Dec. 31, 2012

Commitments

Note 11 – Commitments

The Company leases property from third parties. The Company leases a portion of its U.S. facilities, and the lease term expires in July 2017. The Company leases office and manufacturing space in the United Kingdom, and the initial term expires in February 2016. The Company leases an office and manufacturing space in Japan, and the initial term expires in November 2021. The Company has the ability to terminate this lease, with no penalty, upon six months’ notice.

As a condition of the lease of the UK facility, the Company received a rent holiday for the full year of 2011. The expense related to the full term of the lease is being recognized on a straight-line basis in accordance with ASC 840, Leases (ASC 840).

In addition to those property leases described above, the Company has acquired capital equipment under capital leases.

Future minimum commitments under non-cancelable leases at December 31, 2012, are as follows:


Years Ending December 31,	Capital Leases		Operating Leases
(in thousands)
2013	$	311	$	1,289
2014		217		1,262
2015		151		1,255
2016		11		723
2017		—		544
After 2017		—		2,059

Total future minimum lease payments		690	$	7,132

Less interest cost		61

Net present value of minimum lease payments	$	629

Rental expense was approximately $1.3 million, $0.8 million and $0.9 million for the years ended December 31, 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes

Note 12 – 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, 2012, 2011 and 2010 the Company recorded an income tax provision of $10.9 million, $8.8 million, and $4.8 million, respectively. The income tax provision is based on the estimated annual effective tax rate for the year applied to pre-tax income. The effective income tax rate for the years ended December 31, 2012, 2011, and 2010 was 31.3 percent, 32.8 percent, and 30.3 percent, respectively.

The provision for income taxes is based on income (loss) before income taxes reported for financial statement purposes. The components of income (loss) before income taxes are as follows:


	Year Ended December 31,
(in thousands)	2012		2011		2010
United States	$	34,653	$	26,699	$	17,073
International		316		56		(1,360	)

Total	$	34,969	$	26,755	$	15,713

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


	Year Ended December 31,
(in thousands)	2012			2011			2010
Current:
Federal	$	10,288		$	5,561		$	3,493
State		217			291			185
Foreign		761			700			528
Deferred
Federal		(398	)		2,211			627
State		65			9			8
Foreign		(1,060	)		(1,018	)		(1,227	)
Valuation Allowance		1,071			1,029			1,148

Total	$	10,944		$	8,783		$	4,762

A reconciliation of the federal statutory income tax rate to the effective tax rate is as follows:


	Year Ended December 31,
	2012			2011			2010
Federal tax statutory rate		35.0	%		35.0	%		34.0	%
State tax (net of federal benefit)		0.8			0.7			1.0
Qualified subsidiary election		(3.5	)		(3.8	)		(11.0	)
Research and development credit		(0.4	)		(0.3	)		(0.9	)
Valuation allowance against deferred tax assets		3.5			3.8			7.3
Foreign rate differential		(1.1	)		(0.7	)		(1.7	)
Tax reserves		0.0			0.0			2.3
Domestic manufacturing deduction		(2.9	)		(1.7	)		(1.9	)
Provision to return		(0.1	)		(0.1	)		0.5
Miscellaneous		0.0			(0.1	)		0.7

Total		31.3	%		32.8	%		30.3	%

On January 2, 2013, the American Taxpayer Relief Act of 2012 (the Act) was signed into law. Included in the Act was the extension of the research and development credit for years 2012 and 2013. As the Act was enacted during 2013, the impacts of this law are not included in the 2012 financial results; the amount of research and development credit presented in the table above relates to state credits only. The Company anticipates a beneficial impact on the effective tax rate in 2013 for both the 2012 and 2013 research and development credit.

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


	December 31,
(in thousands)	2012			2011
Deferred tax assets:
Accrued expenses	$	251		$	151
Warrants and stock options		963			353
Intangibles		117			110
Inventories		114			127
Net operating loss		4,565			3,270
Less valuation allowance		(4,341	)		(3,270	)

Total deferred tax assets		1,669			741
Deferred tax liabilities:
Depreciation		(4,406	)		(4,061	)

Total deferred tax liabilities		(4,406	)		(4,061	)

Net deferred tax liability	$	(2,737	)	$	(3,320	)

The Company has recorded no U.S. deferred taxes related to the undistributed earnings of its non-U.S. subsidiaries as of December 31, 2012. Such amounts are intended to be reinvested outside of the United States indefinitely. It is not practicable to estimate the amount of additional tax that might be payable on the foreign earnings. At December 31, 2012, 2011 and 2010, the Company had accumulated undistributed earnings in non-U.S. subsidiaries of $6.4 million, $3.6 million and $1.7 million, respectively.

The valuation allowances established for foreign subsidiaries are due to lack of sufficient positive evidence to realize the deferred tax assets associated with the net operating losses. At December 31, 2012, 2011 and 2010, the Company has operating loss carry forwards of $11.2 million, $8.0 million, and $5.5 million, respectively, which expire at various times beginning in 2013 through 2019. The Company has established a valuation allowance against these net operating loss carry forwards as it does not believe they will be realizable before expiration. Of these net operating loss carry forwards, $5.7 million have been recognized as a benefit in the U.S. based on a qualified subsidiary election.

The Company has liabilities related to unrecognized tax benefits totaling $0.4 million at December 31, 2012 and 2011, 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 does not anticipate that total unrecognized tax benefits will materially change in the next twelve months. 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:


	December 31,
	2012		2011
Balance at beginning of period	$	402	$	392
Additions for tax positions of prior years		10		10

Balance at period end	$	412	$	402

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Warrants

12 Months Ended

Dec. 31, 2012

Warrants

13 – Warrants

At December 31, 2010 the Company had issued and outstanding fully vested warrants for the purchase of up to 1,526,182 shares of common stock at an exercise price of $0.33 per share and for the purchase of up to 105,000 shares at an exercise price of $1.79 per share. These warrants were held by two executive officers. During 2011, all of the warrants with an exercise price of $0.33 per share were exercised, resulting in the issuance of 1,526,182 shares of common stock. During 2012, all of the warrants outstanding with an exercise price of $1.79 per share were exercised, resulting in the issuance of 105,000 shares of common stock. No common stock warrants remained outstanding at December 31, 2012.

Redeemable Convertible Preferred Stock and Redeemable Common Stock

12 Months Ended

Dec. 31, 2012

Redeemable Convertible Preferred Stock and Redeemable Common Stock

14 – Redeemable Convertible Preferred Stock and Redeemable Common Stock

In August 2008, the Company sold 427,985 shares of redeemable convertible preferred stock. Upon completion of its IPO in February 2012, these shares were converted to common stock. Refer to Note 2 for additional information.

During 2008, the Company executed an Investors’ Rights Agreement with certain investors that supplements the Stock Purchase Agreement executed in 2005. The Investors’ Rights Agreement provides the investors certain rights, including the right to require the Company to redeem the 3,189,648 shares of common stock owned by the investor at the then current fair market value. Upon completion of its IPO in February 2012, these redemption rights expired and the shares of redeemable common stock were converted into common stock.

Litigation

12 Months Ended

Dec. 31, 2012

Litigation

15 – 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.

Segment and Geographic Information

12 Months Ended

Dec. 31, 2012

Segment and Geographic Information

16 – Segment and Geographic Information

The Company previously reported segments on a geographic basis. In 2012 as the Company’s operations have evolved, the CEO, who is the Company’s chief operating decision maker, began reviewing operating results only at the consolidated level, which is how the CEO makes decisions to operate the business and allocate resources. As a result, the Company has determined that it has only one operating segment, and has revised its historical segment presentation to align with the current year presentation.

The Company’s revenue is derived from two product lines, Protomold injection molding and Firstcut CNC machining. Total revenue by product line is as follows:


	Year Ended December 31,
(in thousands)	2012		2011		2010
Revenue:
Protomold	$	90,371	$	74,090	$	50,690
First Cut		35,620		24,849		14,229

Total revenue	$	125,991	$	98,939	$	64,919

Revenue to external customers based on the billing location of the end user customer and long-lived assets by geography are as follows:


	Year Ended December 31,
(in thousands)	2012		2011		2010
Revenue:
United States	$	94,866	$	73,010	$	48,059
International		31,125		25,929		16,860

Total revenue	$	125,991	$	98,939	$	64,919


	December 31,
(in thousands)	2012		2011
Long-lived assets:
United States	$	37,869	$	28,831
International		7,447		5,418

Total long-lived assets	$	45,316	$	34,249

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

Principles of consolidation

Principles of consolidation

Public offerings

Public offerings

Stock split

Stock split

Comprehensive income

Comprehensive income

Accounting estimates

Accounting estimates

Cash and cash equivalents

Cash and cash equivalents

Accounts receivable and allowance for doubtful accounts

Accounts receivable and allowance for doubtful accounts

Inventory

Inventory

Property, equipment and leasehold improvements

Property, equipment and leasehold improvements

Accounting for long-lived assets

Accounting for long-lived assets

Revenue recognition

Revenue recognition

Income taxes

Income taxes

Stock-based compensation

Stock-based compensation

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 $5.9 million, $5.8 million and $3.6 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Research and development

Research and development

Foreign currency translation/transactions

Foreign currency translation/transactions

Recent accounting pronouncements

Recent accounting pronouncements

The JOBS Act exempts an emerging growth company from the following requirements during the period of eligibility:

•

Adopting new or revised accounting standards that are effective for public companies. Instead, the effective dates of such accounting standards for private companies would apply.

•

Net Income Per Common Share (Tables)

12 Months Ended

Dec. 31, 2012

Calculation of Net Income Per Basic and Diluted Share Attributable to Common Shareholders

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)	2012		2011			2010
Net Income	$	24,025	$	17,972		$	10,951
Less: dividends on redeemable convertible preferred stock		—		(4,179	)		(4,179	)
Less: undistributed earnings allocated to preferred shareholders		—		(4,507	)		(2,377	)

Net income attributable to common shareholders	$	24,025	$	9,286		$	4,395

Basic—weighted-average shares outstanding:		23,373,593		12,352,004			11,079,432
Effect of dilutive securities:
Employee stock options, warrants and other		1,070,072		1,587,068			1,972,026

Diluted—weighted-average shares outstanding:		24,443,665		13,939,072			13,051,458

Net income per share attributable to common shareholders:
Basic	$	1.03	$	0.75		$	0.40

Diluted	$	0.98	$	0.67		$	0.34

Calculation of Unaudited Pro Forma Net Income Per Basic and Diluted Share


	Year Ended December 31,
(in thousands, except share and per share amounts)	2012		2011		2010
Net income attributable to common shareholders, as reported	$	24,025	$	9,286	$	4,395
Dividends on redeemable convertible preferred stock		—		4,179		4,179
Undistributed earnings allocated to preferred shareholders		—		4,507		2,377

Pro forma net income	$	24,025	$	17,972	$	10,951

Basic—weighted-average shares outstanding, as reported		23,373,593		12,352,004		11,079,432
Add: common shares from conversion of redeemable convertible preferred shares		—		5,991,790		5,991,790

Pro forma basic weighted average shares outstanding		23,373,593		18,343,794		17,071,222

Effect of dilutive securities:
Employee stock options, warrants and other		1,070,072		1,587,068		1,972,026

Pro forma diluted—weighted-average shares outstanding:		24,443,665		19,930,862		19,043,248

Pro forma net income per share attributable to common shareholders:
Basic	$	1.03	$	0.98	$	0.64

Diluted	$	0.98	$	0.90	$	0.58

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Financial Assets Measured at Fair Value on Recurring Basis

A summary of financial assets measured at fair value on a recurring basis is as follows:


	December 31, 2012						December 31, 2011
(in thousands)	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents
Money market mutual fund	$	16,164	$	—	$	—	$	—	$	—	$	—
Short-term marketable securities
Certificates of deposit and treasury notes		—		—		—		250		—		—

Total	$	16,164	$	—	$	—	$	250	$	—	$	—

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2012

Information Regarding Short-Term and Long-Term Marketable Securities

Information regarding the Company’s short-term and long-term marketable securities as of December 31, 2012 is as follows:


	December 31, 2012
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
U.S. government agency securities	$	23,011	$	2	$	(4	)	$	23,009
Corporate debt securities		14,675		18		(14	)		14,679
Commercial paper		1,500		—		—			1,500
U.S. municipal securities		17,971		3		(12	)		17,962
Certificates of deposit/time deposits		4,945		3		(1	)		4,947

Total marketable securities	$	62,102	$	26	$	(31	)	$	62,097

Balance of Held-To-Maturity Debt Securities by Contractual Maturity

Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.


	December 31,
(in thousands)	2012
Due in one year or less	$	25,137
Due after one year through five years		36,965

Total marketable securities	$	62,102

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6435544&loc=d3e41834-113960

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5086-111524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property and Equipment

Property and equipment consists of the following:


	December 31,
(in thousands)	2012			2011
Land	$	2,830		$	2,830
Buildings and improvements		13,114			8,794
Machinery and equipment		39,209			28,178
Computer hardware and software		5,019			4,102
Leasehold improvements		2,921			1,811
Construction in progress		1,903			2,521
Capital leases		1,512			1,493

		66,508			49,729
Accumulated depreciation and amortization		(21,192	)		(15,480	)

Property and equipment, net	$	45,316		$	34,249

Inventory (Tables)

12 Months Ended

Dec. 31, 2012

Inventory

The Company’s inventory consists of the following:


	December 31,
(in thousands)	2012			2011
Raw materials	$	4,174		$	3,463
Work in process		530			418

Total inventory		4,704			3,881
Allowance for obsolescence		(85	)		(84	)

Inventory, net of allowance	$	4,619		$	3,797

Financing Obligations (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Debt

The Company’s debt consists of the following:


	December 31,
(in thousands)	2012		2011
Various obligations under capital leases, with interest rates from 4.5% to 7.4%, due in various monthly installments, including interest, through various dates through January 2016, secured by equipment	$	629	$	1,003
Less current portion		273		390

Long-term obligation	$	356	$	613

Maturities on Long-Term Debt Obligations

Maturities on long-term debt obligations at December 31, 2012 are as follows:

Years Ending December 31,
(in thousands)
2013	$	273
2014		200
2015		146
2016		10

	$	629

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for the years ended December 31, 2012, 2011 and 2010, respectively:


	Year Ended December 31,
(in thousands)	2012			2011			2010
Cost of revenue	$	335		$	78		$	39
Operating expenses:
Marketing and sales		418			215			84
Research and development		486			274			73
General and administrative		1,800			563			135

Total stock-based compensation expense		3,039			1,130			331

Income tax benefits		(844	)		(338	)		(56	)

Total stock-based compensation expense, net of tax	$	2,195		$	792		$	275

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, 2012, 2011 and 2010:


	Year Ended December 31,
	2012			2011			2010
Risk-free interest rate		0.95 - 1.16	%		3.68	%		3.35	%
Expected life (years)		5.5 - 6.5			5			10
Expected volatility		53.00 - 53.14	%		47.32	%		38.05	%
Expected dividend yield		0	%		0	%		0	%
Weighted average grant date fair value		$ 14.79		$	8.99		$	4.27

Summary of Stock Option Activity

The following table summarizes stock option activity and the weighted average exercise price for the years ended December 31, 2012, 2011 and 2010:


				Weighted-
				Average
	Stock Options			Exercise Price
Options outstanding at January 1, 2010		2,080,666		$	1.83
Granted		658,000			7.86
Exercised		(615,328	)		0.09
Cancelled		(84,000	)		4.02

Options outstanding at December 31, 2010		2,039,338			5.25
Granted		224,000			20.07
Exercised		(164,038	)		0.29
Cancelled		—			—

Options outstanding at December 31, 2011		2,099,300			6.18
Granted		259,800			28.67
Exercised		(667,243	)		2.41
Cancelled		(500	)		30.58

Options outstanding at December 31, 2012		1,691,357		$	11.11

Exercisable at December 31, 2012		802,990		$	5.91

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2012:


	Options Outstanding, Vested and Expected to Vest						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price ($)		Number Exercisable		Weighted Average Exercise Price ($)
$0.50 to $1.79		162,850		2.17	$	1.12		162,850	$	1.12
$2.66 to $5.00		283,852		4.30		3.53		255,852		3.40
$5.56		127,005		6.34		5.56		62,605		5.56
$7.86		635,750		7.97		7.86		254,950		7.86
$16.00 to $20.07		264,600		8.58		19.42		66,733		20.07
$30.58 to $36.41		217,300		9.40		31.12		—		—

Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan

The following table presents the assumptions used to estimate the fair value of the ESPP during the year ended December 31, 2012:


	Year ended December 31, 2012
Risk-free interest rate		0.13 - 0.16	%
Expected life (months)		6 - 8.5
Expected volatility		53.00 - 53.14	%
Expected dividend yield		0	%

Commitments (Tables)

12 Months Ended

Dec. 31, 2012

Future Minimum Commitments under Non-Cancelable Leases

Future minimum commitments under non-cancelable leases at December 31, 2012, are as follows:


Years Ending December 31,	Capital Leases		Operating Leases
(in thousands)
2013	$	311	$	1,289
2014		217		1,262
2015		151		1,255
2016		11		723
2017		—		544
After 2017		—		2,059

Total future minimum lease payments		690	$	7,132

Less interest cost		61

Net present value of minimum lease payments	$	629

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes are as follows:


	Year Ended December 31,
(in thousands)	2012		2011		2010
United States	$	34,653	$	26,699	$	17,073
International		316		56		(1,360	)

Total	$	34,969	$	26,755	$	15,713

Components of Provision for Income Taxes

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


	Year Ended December 31,
(in thousands)	2012			2011			2010
Current:
Federal	$	10,288		$	5,561		$	3,493
State		217			291			185
Foreign		761			700			528
Deferred
Federal		(398	)		2,211			627
State		65			9			8
Foreign		(1,060	)		(1,018	)		(1,227	)
Valuation Allowance		1,071			1,029			1,148

Total	$	10,944		$	8,783		$	4,762

Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate

A reconciliation of the federal statutory income tax rate to the effective tax rate is as follows:


	Year Ended December 31,
	2012			2011			2010
Federal tax statutory rate		35.0	%		35.0	%		34.0	%
State tax (net of federal benefit)		0.8			0.7			1.0
Qualified subsidiary election		(3.5	)		(3.8	)		(11.0	)
Research and development credit		(0.4	)		(0.3	)		(0.9	)
Valuation allowance against deferred tax assets		3.5			3.8			7.3
Foreign rate differential		(1.1	)		(0.7	)		(1.7	)
Tax reserves		0.0			0.0			2.3
Domestic manufacturing deduction		(2.9	)		(1.7	)		(1.9	)
Provision to return		(0.1	)		(0.1	)		0.5
Miscellaneous		0.0			(0.1	)		0.7

Total		31.3	%		32.8	%		30.3	%

Significant Components of Deferred Tax Assets and Liabilities

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


	December 31,
(in thousands)	2012			2011
Deferred tax assets:
Accrued expenses	$	251		$	151
Warrants and stock options		963			353
Intangibles		117			110
Inventories		114			127
Net operating loss		4,565			3,270
Less valuation allowance		(4,341	)		(3,270	)

Total deferred tax assets		1,669			741
Deferred tax liabilities:
Depreciation		(4,406	)		(4,061	)

Total deferred tax liabilities		(4,406	)		(4,061	)

Net deferred tax liability	$	(2,737	)	$	(3,320	)

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

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


	December 31,
	2012		2011
Balance at beginning of period	$	402	$	392
Additions for tax positions of prior years		10		10

Balance at period end	$	412	$	402

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2012

Revenue by Product Line

Total revenue by product line is as follows:


	Year Ended December 31,
(in thousands)	2012		2011		2010
Revenue:
Protomold	$	90,371	$	74,090	$	50,690
First Cut		35,620		24,849		14,229

Total revenue	$	125,991	$	98,939	$	64,919

Revenue to External Customers Based on Billing Location of End User Customer and Long-Lived Assets by Geography

Revenue to external customers based on the billing location of the end user customer and long-lived assets by geography are as follows:


	Year Ended December 31,
(in thousands)	2012		2011		2010
Revenue:
United States	$	94,866	$	73,010	$	48,059
International		31,125		25,929		16,860

Total revenue	$	125,991	$	98,939	$	64,919


	December 31,
(in thousands)	2012		2011
Long-lived assets:
United States	$	37,869	$	28,831
International		7,447		5,418

Total long-lived assets	$	45,316	$	34,249

Nature of Business - Additional Information (Detail)	12 Months Ended
Nature of Business - Additional Information (Detail)	Dec. 31, 2012 Location
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of geographic markets	3

Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended			12 Months Ended
	Nov. 30, 2012 USD ($) $ / shares shares	Feb. 29, 2012 USD ($) $ / shares shares	Feb. 21, 2012	Dec. 31, 2012 USD ($) shares	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2008 shares
Significant Accounting Policies [Line Items]
Issue of common shares in conjunction with its initial public offer \| shares		4,900,000
Per share value of public offering shares \| $ / shares	$ 31.00	$ 16.00
Gross proceeds from initial public offering		$ 79,100		$ 71,530
Aggregate net proceeds received by the Company		$ 71,500
Shares of redeemable convertible preferred stock and redeemable common stock were converted into common stock \| shares							3,189,648
Common shares issued upon follow-on offering (in shares) \| shares	100,000
Gross proceeds from follow-on offering	$ 3,100
Proceeds from follow-on offering, net of offering costs	$ 2,451			2,451
Forward stock split ratio for common stock			14
Advertising expenses				5,900	$ 5,800	$ 3,600
Research and development				9,137	$ 5,222	$ 4,281
Annual gross revenue				1,000,000
Non-convertible debt				$ 1,000,000
Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives				3 years
Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives				39 years
Equipment \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives				3 years
Equipment \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives				7 years
Office Furniture And Equipment \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives				3 years
Office Furniture And Equipment \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives				7 years
Computer Equipment \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives				3 years
Computer Equipment \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives				5 years
Building
Significant Accounting Policies [Line Items]
Estimated useful lives				39 years
Land, Buildings and Improvements \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives				10 years
Land, Buildings and Improvements \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives				39 years
Redeemable Convertible Preferred Stock
Significant Accounting Policies [Line Items]
Shares of redeemable convertible preferred stock and redeemable common stock were converted into common stock \| shares				5,991,790
Redeemable Common Stock
Significant Accounting Policies [Line Items]
Shares of redeemable convertible preferred stock and redeemable common stock were converted into common stock \| shares				3,189,648

Net Income Per Common Share - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2012
Earnings Loss Per Share [Line Items]
Cumulative dividends	8.00%

Calculation of Net Income Per Basic and Diluted Share Attributable to Common Shareholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Components Of Basic And Diluted Earning Per Share [Line Items]
Net income	$ 24,025	$ 17,972	$ 10,951
Less: dividends on redeemable convertible preferred stock		(4,179)	(4,179)
Less: undistributed earnings allocated to preferred shareholders		(4,507)	(2,377)
Net income attributable to common shareholders	$ 24,025	$ 9,286	$ 4,395
Basic-weighted-average shares outstanding:	23,373,593	12,352,004	11,079,432
Effect of dilutive securities:
Employee stock options, warrants and other	1,070,072	1,587,068	1,972,026
Diluted-weighted-average shares outstanding:	24,443,665	13,939,072	13,051,458
Net income per share attributable to common shareholders:
Basic	$ 1.03	$ 0.75	$ 0.40
Diluted	$ 0.98	$ 0.67	$ 0.34

Calculation of Unaudited Pro Forma Net Income Per Basic and Diluted Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Computation Of Earnings Per Share Line Items
Net income attributable to common shareholders, as reported	$ 24,025	$ 9,286	$ 4,395
Dividends on redeemable convertible preferred stock		4,179	4,179
Undistributed earnings allocated to preferred shareholders		4,507	2,377
Pro forma net income	$ 24,025	$ 17,972	$ 10,951
Basic-weighted-average shares outstanding, as reported	23,373,593	12,352,004	11,079,432
Add: common shares from conversion of redeemable convertible preferred shares		5,991,790	5,991,790
Pro forma basic weighted average shares outstanding	23,373,593	18,343,794	17,071,222
Effect of dilutive securities:
Employee stock options, warrants and other	1,070,072	1,587,068	1,972,026
Pro forma diluted-weighted-average shares outstanding:	24,443,665	19,930,862	19,043,248
Pro forma net income per share attributable to common shareholders:
Basic	$ 1.03	$ 0.98	$ 0.64
Diluted	$ 0.98	$ 0.90	$ 0.58

Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - Level 1 - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, Money market mutual fund	$ 16,164
Short-term marketable securities, Certificates of deposit and treasury notes		$ 250
Total	$ 16,164	$ 250

- Definition

A savings certificate entitling the Entity (that is, bearer) to receive interest at an established maturity date, based upon a fixed interest rate. A certificate of deposit may be issued in any denomination. Certificates of deposit are generally issued by commercial banks and, therefore, insured by the FDIC (up to the prescribed limit). Certificates of deposit generally restrict holders from withdrawing funds on demand without the incurrence of penalties. Generally, only certificates of deposit with original maturities of three months or less qualify as cash equivalents. Original maturity means original maturity to the entity holding the investment. As a related example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.

+ References + Details

Information Regarding Short-Term and Long-Term Marketable Securities (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Marketable securities, Amortized Cost	$ 62,102
Marketable securities, Unrealized Gains	26
Marketable securities, Unrealized Losses	(31)
Marketable securities, Fair Value	62,097
U.S. government agency securities
Schedule of Held-to-maturity Securities [Line Items]
Marketable securities, Amortized Cost	23,011
Marketable securities, Unrealized Gains	2
Marketable securities, Unrealized Losses	(4)
Marketable securities, Fair Value	23,009
Corporate debt securities
Schedule of Held-to-maturity Securities [Line Items]
Marketable securities, Amortized Cost	14,675
Marketable securities, Unrealized Gains	18
Marketable securities, Unrealized Losses	(14)
Marketable securities, Fair Value	14,679
Commercial paper
Schedule of Held-to-maturity Securities [Line Items]
Marketable securities, Amortized Cost	1,500
Marketable securities, Fair Value	1,500
U.S. municipal securities
Schedule of Held-to-maturity Securities [Line Items]
Marketable securities, Amortized Cost	17,971
Marketable securities, Unrealized Gains	3
Marketable securities, Unrealized Losses	(12)
Marketable securities, Fair Value	17,962
Certificates of deposit/time deposits
Schedule of Held-to-maturity Securities [Line Items]
Marketable securities, Amortized Cost	4,945
Marketable securities, Unrealized Gains	3
Marketable securities, Unrealized Losses	(1)
Marketable securities, Fair Value	$ 4,947

Balance of Held-To-Maturity Debt Securities by Contractual Maturity (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Investment Securities [Line Items]
Due in one year or less	$ 25,137
Due after one year through five years	36,965
Total marketable securities	$ 62,102

Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment [Line Items]
Land	$ 2,830	$ 2,830
Buildings and improvements	13,114	8,794
Machinery and equipment	39,209	28,178
Computer hardware and software	5,019	4,102
Leasehold improvements	2,921	1,811
Construction in progress	1,903	2,521
Capital leases	1,512	1,493
Property and equipment, gross	66,508	49,729
Accumulated depreciation and amortization	(21,192)	(15,480)
Property and equipment, net	$ 45,316	$ 34,249

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 6,080	$ 4,264	$ 3,483
Impairment charge			$ 800

- Definition

The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 225
-Section 45
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6743430&loc=d3e92212-112881

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Impairment
-URI http://asc.fasb.org/extlink&oid=6515133

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2420-110228

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 26
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 7, 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Inventories [Line Items]
Raw materials	$ 4,174	$ 3,463
Work in process	530	418
Total inventory	4,704	3,881
Allowance for obsolescence	(85)	(84)
Inventory, net of allowance	$ 4,619	$ 3,797

- Definition

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.BB)
-URI http://asc.fasb.org/extlink&oid=6386940&loc=d3e100047-122729

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-09)
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24092-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 8, 9, 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section A
-Paragraph 9
-Chapter 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

+ Details

Summary of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Various obligations under capital leases, with interest rates from 4.5% to 7.4%, due in various monthly installments, including interest, through various dates through January 2016, secured by equipment	$ 629	$ 1,003
Less current portion	273	390
Long-term obligation	$ 356	$ 613

Summary of Debt (Parenthetical) (Detail)	12 Months Ended
Summary of Debt (Parenthetical) (Detail)	Dec. 31, 2012
Debt Instrument [Line Items]
Interest rates on capital leases, minimum	4.50%
Interest rates on capital leases, maximum	7.40%

Maturities on Long-Term Debt Obligations (Detail) $ in Thousands	Dec. 31, 2011 USD ($)
Long Term Debt Maturities Repayments Of Principal [Line Items]
2013	$ 273
2014	200
2015	146
2016	10
Long-term Debt, Total	$ 629

Financing Obligations - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($)
Debt Instrument [Line Items]
Revolving line of credit expiration date	Sep. 30, 2013
Maximum limit of borrowings under line of credit	$ 10
Interest rate of borrowings	1.75%
Line of credit facility basis spread on variable rate	1.50%
Percentage of interest rate of borrowings	LIBOR plus 1.5%

Employee Benefit Plans - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($) h	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Regular part-time hours per week to participate in 401(k) retirement plan \| h	20
Service period for eligibility of defined benefits plan	6 months
Employees Contribution Under 401 K retirement plan	50.00%
Employer contributions under 401 k retirement plan \| $	$ 0.5	$ 0.4	$ 0.3

Stock-Based Compensation - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($) EquityPlan	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans \| EquityPlan	2
Plan with maximum term from the date of grant	10 years
Percentage of discount on purchase price of share with fair market value	15.00%
ESPP generally provides offering periods	6 months
Percentage of purchase price of share with fair market value	85.00%
Due to the timing of the IPO, the initial offering period under the ESPP period	8 months 15 days
Due to the timing of the IPO, the initial offering period under the ESPP	February 23, 2012 to November 15, 2012
Options granted become exercisable ratably over the vesting period	5 years
Total intrinsic value of options exercised	$ 19.6	$ 2.5	$ 3.4
Option outstanding weighted-average remaining contractual term	7 years
Option outstanding aggregate intrinsic value	$ 47.9
Option exercisable weighted-average remaining contractual term	5 years 6 months
Option exercisable aggregate intrinsic value	$ 26.9
Total unrecognized compensation expense related to unvested stock options	$ 5.6
Total unrecognized compensation expense related to unvested stock options, expected to be recognized over a weighted average period	2 years 8 months 12 days
The total fair value of options vested	$ 1.3	$ 5.6	$ 1.2
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
2012 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan with maximum term from the date of grant	10 years

Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,039	$ 1,130	$ 331
Income tax benefits	(844)	(338)	(56)
Total stock-based compensation expense, net of tax	2,195	792	275
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	335	78	39
Marketing and sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	418	215	84
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	486	274	73
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,800	$ 563	$ 135

Assumptions Used in Black-Scholes Option Pricing Model (Detail) - Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate		3.68%	3.35%
Expected life (years)		5 years	10 years
Expected volatility		47.32%	38.05%
Expected dividend yield	0.00%	0.00%	0.00%
Weighted average grant date fair value	$ 14.79	$ 8.99	$ 4.27
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.95%
Expected life (years)	5 years 6 months
Expected volatility	53.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.16%
Expected life (years)	6 years 6 months
Expected volatility	53.14%

Summary of Stock Option Activity (Detail) - $ / shares	12 Months Ended
Summary of Stock Option Activity (Detail) - $ / shares	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Stock Options
Stock Options, Beginning balance	2,099,300	2,039,338	2,080,666
Stock Options, Granted	259,800	224,000	658,000
Stock Options, Exercised	(667,243)	(164,038)	(615,328)
Stock Options, Cancelled	(500)		(84,000)
Stock Options, Ending balance	1,691,357	2,099,300	2,039,338
Stock Options, Exercisable	802,990
Weighted- Average Exercise Price
Weighted-Average Exercise Price, Beginning balance	$ 6.18	$ 5.25	$ 1.83
Weighted-Average Exercise Price, Granted	28.67	20.07	7.86
Weighted-Average Exercise Price, Exercised	2.41	0.29	0.09
Weighted-Average Exercise Price, Cancelled	30.58		4.02
Weighted-Average Exercise Price, Ending balance	11.11	$ 6.18	$ 5.25
Weighted-Average Exercise Price, Exercisable	$ 5.91

Summary of Stock Options Outstanding (Detail)	12 Months Ended
Summary of Stock Options Outstanding (Detail)	Dec. 31, 2012 $ / shares shares
Exercise Price Range 0.07 - 0.71
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower range	$ 0.50
Range of Exercise Prices, Upper range	$ 1.79
Number Outstanding \| shares	162,850
Weighted Average Remaining Contractual Life	2 years 2 months 1 day
Weighted Average Exercise Price	$ 1.12
Number of Exercisable \| shares	162,850
Weighted Average Exercise Price	$ 1.12
Exercise Price Range 1.79 - 3.37
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower range	2.66
Range of Exercise Prices, Upper range	$ 5.00
Number Outstanding \| shares	283,852
Weighted Average Remaining Contractual Life	4 years 3 months 18 days
Weighted Average Exercise Price	$ 3.53
Number of Exercisable \| shares	255,852
Weighted Average Exercise Price	$ 3.40
Exercise Price Range 3.67 - 4.27
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower range	$ 5.56
Number Outstanding \| shares	127,005
Weighted Average Remaining Contractual Life	6 years 4 months 2 days
Weighted Average Exercise Price	$ 5.56
Number of Exercisable \| shares	62,605
Weighted Average Exercise Price	$ 5.56
Exercise Price Range 4.54 - 5.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower range	$ 7.86
Number Outstanding \| shares	635,750
Weighted Average Remaining Contractual Life	7 years 11 months 19 days
Weighted Average Exercise Price	$ 7.86
Number of Exercisable \| shares	254,950
Weighted Average Exercise Price	$ 7.86
Exercise Price 5.56 - 7.86
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower range	16.00
Range of Exercise Prices, Upper range	$ 20.07
Number Outstanding \| shares	264,600
Weighted Average Remaining Contractual Life	8 years 6 months 29 days
Weighted Average Exercise Price	$ 19.42
Number of Exercisable \| shares	66,733
Weighted Average Exercise Price	$ 20.07
Exercise Price 20.07 - 36.41
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, Lower range	30.58
Range of Exercise Prices, Upper range	$ 36.41
Number Outstanding \| shares	217,300
Weighted Average Remaining Contractual Life	9 years 4 months 24 days
Weighted Average Exercise Price	$ 31.12

Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan (Detail) - ESPP	12 Months Ended
	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.13%
Expected life (months)	6 months
Expected volatility	53.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.16%
Expected life (months)	8 months 15 days
Expected volatility	53.14%

Commitments - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Commitments and Contingencies Disclosure [Line Items]
Lease termination notice period	6 months
Rental expense	$ 1.3	$ 0.8	$ 0.9
U.S. Facilities
Commitments and Contingencies Disclosure [Line Items]
Lease expiration date	2017-07
Office and Manufacturing space in United Kingdom
Commitments and Contingencies Disclosure [Line Items]
Lease expiration date	2016-02
Office and Manufacturing Space in Japan
Commitments and Contingencies Disclosure [Line Items]
Lease expiration date	2021-11

Future Minimum Commitments under Non-Cancelable Leases (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Capital Leases
2013	$ 311
2014	217
2015	151
2016	11
2017
After 2017
Total future minimum lease payments	690
Less interest cost	61
Net present value of minimum lease payments	629
Operating Leases
2013	1,289
2014	1,262
2015	1,255
2016	723
2017	544
After 2017	2,059
Total future minimum lease payments	$ 7,132

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes [Line Items]
Provision for income taxes	$ 10,900	$ 8,800	$ 4,800
Effective income tax rate	31.30%	32.80%	30.30%
Accumulated undistributed earnings	$ 6,400	$ 3,600	$ 1,700
Operating loss carry forwards	$ 11,200	8,000	5,500
Expiration year of operating loss carry forwards beginning	2013
Expiration year of operating loss carry forwards	2019
Net Operating loss carry forwards, which recognized as a benefit	$ 5,700
Unrecognized tax benefits	$ 412	$ 402	$ 392

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=21917399&loc=d3e32247-109318

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 30
-Paragraph 5
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6907311&loc=d3e30536-109315

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 17
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Components of Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Schedule of Components of Income Before Income Tax Expense (Benefit) [Line Items]
United States	$ 34,653	$ 26,699	$ 17,073
International	316	56	(1,360)
Income before income taxes	$ 34,969	$ 26,755	$ 15,713

Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Current:
Federal	$ 10,288	$ 5,561	$ 3,493
State	217	291	185
Foreign	761	700	528
Deferred
Federal	(398)	2,211	627
State	65	9	8
Foreign	(1,060)	(1,018)	(1,227)
Valuation Allowance	1,071	1,029	1,148
Total	$ 10,944	$ 8,783	$ 4,762

Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Reconciliation of Statutory Federal Tax Rate [Line Items]
Federal tax statutory rate	35.00%	35.00%	34.00%
State tax (net of federal benefit)	0.80%	0.70%	1.00%
Qualified subsidiary election	(3.50%)	(3.80%)	(11.00%)
Research and development credit	(0.40%)	(0.30%)	(0.90%)
Valuation allowance against deferred tax assets	3.50%	3.80%	7.30%
Foreign rate differential	(1.10%)	(0.70%)	(1.70%)
Tax reserves	0.00%	0.00%	2.30%
Domestic manufacturing deduction	(2.90%)	(1.70%)	(1.90%)
Provision to return	(0.10%)	(0.10%)	0.50%
Miscellaneous	0.00%	(0.10%)	0.70%
Total	31.30%	32.80%	30.30%

Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Deferred tax assets:
Accrued expenses	$ 251	$ 151
Warrants and stock options	963	353
Intangibles	117	110
Inventories	114	127
Net operating loss	4,565	3,270
Less valuation allowance	(4,341)	(3,270)
Total deferred tax assets	1,669	741
Deferred tax liabilities:
Depreciation	(4,406)	(4,061)
Total deferred tax liabilities	(4,406)	(4,061)
Net deferred tax liability	$ (2,737)	$ (3,320)

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Schedule of Unrecognized Tax Benefits [Line Items]
Balance at beginning of period	$ 402	$ 392
Additions for tax positions of prior years	10	10
Balance at period end	$ 412	$ 402

Warrants - Additional Information (Detail)	12 Months Ended
Warrants - Additional Information (Detail)	Dec. 31, 2012 $ / Warrants shares	Dec. 31, 2011 $ / Warrants shares	Dec. 31, 2010 Person $ / Warrants shares
Class of Warrant or Right [Line Items]
Exercise price of common stock warrants to purchase \| $ / Warrants	1.79	0.33
Number of executive officers who helds warrants \| Person			2
Common shares issued on exercise of warrants \| shares	105,000	1,526,182
Scenario 1
Class of Warrant or Right [Line Items]
Numbers of common stock warrants to purchase \| shares			1,526,182
Exercise price of common stock warrants to purchase \| $ / Warrants			0.33
Scenario 2
Class of Warrant or Right [Line Items]
Numbers of common stock warrants to purchase \| shares			105,000
Exercise price of common stock warrants to purchase \| $ / Warrants			1.79

Redeemable Convertible Preferred Stock and Redeemable Common Stock - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2008	Aug. 31, 2008
Temporary Equity [Line Items]
Number of redeemable convertible preferred stock sold by company		427,985
Number of common stock owned by the investor	3,189,648

Segment and Geographic Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2012 Product
Segment Reporting Disclosure [Line Items]
Number of product lines	2

Revenue by Product Line (Detail) - USD ($) $ in Thousands	12 Months Ended
Revenue by Product Line (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue:
Total revenue	$ 125,991	$ 98,939	$ 64,919
Protomold
Revenue:
Total revenue	90,371	74,090	50,690
First Cut
Revenue:
Total revenue	$ 35,620	$ 24,849	$ 14,229

Revenue to External Customers Based on Billing Location of End User Customer and Long-Lived Assets by Geography (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue:
Revenue from United States	$ 94,866	$ 73,010	$ 48,059
International revenue	31,125	25,929	16,860
Total revenue	125,991	98,939	$ 64,919
Long-lived assets:
Long-lived assets in United States	37,869	28,831
International long-lived assets	7,447	5,418
Property and equipment, net	$ 45,316	$ 34,249