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

Proto Labs Inc 10-K