Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Components of the provision (benefits) for income taxes

	Year Ended December 31,
	2020		2019		2018
Current:
Federal	$	—	$	—	$	—
State		15		27		5
Foreign		2,016		535		933
Total current		2,031		562		938
Deferred:
Federal		—		—		—
State		—		—		—
Total deferred		—		—		—
Total provision for income taxes	$	2,031	$	562	$	938

Reconciliation of the effective income tax rates and the U.S. statutory federal income tax rate

	Year Ended December 31,
	2020		2019		2018
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefits	0.2		(2.1)		—
Valuation allowance	0.8		(173.0)		(2.6)
Stock-based compensation	(1.9)		(21.8)		0.3
Foreign tax rate differential	2.1		137.7		(11.4)
Foreign tax incentives	(3.8)		32.2		(2.9)
Foreign income inclusion	7.8		—		2.6
Tax effect in equity method loss or gain from unconsolidated affiliates	1.1		(47.8)		3.2
Foreign-derived intangible income	—		—		(2.4)
Other	1.4		(1.0)		0.1
Effective tax rate	28.7	%	(54.8)	%	7.9	%

Deferred tax assets and liabilities

Deferred tax assets and liabilities are summarized below (in thousands):

	As of December 31,
	2020		2019
Deferred tax assets:
Net operating loss carryforwards	$	14,328	$	14,979
Accruals, reserves and other		3,756		3,011
Credit carryforwards		1,685		1,685
Operating lease liability		178		209
Gross deferred tax assets		19,947		19,884
Valuation allowance		(19,798)		(19,691)
Total deferred tax assets		149		193
Deferred tax liabilities:
Operating lease right-of-use assets		(149)		(193)
Total net deferred tax assets	$	—	$	—