Income Taxes

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

Our provision for income taxes is comprised of the following:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Current:
Federal	$	—	$	—	$	—	$	—
State		—		—		—		—
Total current		—		—		—		—
Deferred:
Federal		—		42		69		42
State		—		—		—		—
Total deferred		—		42		69		42
Total income tax expense	$	—	$	42	$	69	$	42

The income tax expense recorded in 2020 is a result of the amortization of goodwill over 15 years for tax purposes. Periodically, we perform assessments of the realization of our net deferred tax assets considering all available evidence, both positive and negative. Based on our historical operating losses, combined with our plans to continue to invest in our revenue growth and generate losses through 2020, we have a full valuation allowance on our deferred tax assets. As of June 30, 2020, our net operating loss carryforwards on a gross basis were $103.9 million and $28.0 million for federal and state, respectively.