Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Components of Income Tax Expense (Benefit) Attributable to Current Operations

The significant components of our (provision for) benefit from income taxes attributable to current operations for the periods stated were as follows:


	For the Year Ended December 31,
(Dollars in thousands)	2021		2020		2019

Loss before income taxes	$	(27,332)	$	(21,770)	$	(13,423)

Current:
Federal tax	$	—	$	—	$	—
State tax	48		58		582
Foreign tax	283		(150)		13
Total current	331		(92)		595
Deferred:
Federal tax	(4,178)		20,594		(2,121)
State tax	(1,561)		1,910		(1,239)
Foreign tax	256		43		107
Total deferred	(5,483)		22,547		(3,253)
Benefit from (provision for) income taxes	$	(5,152)	$	22,455	$	(2,658)

Schedule of Effective Income Tax Rate Reconciliation

The following table summarizes the principal elements of the difference between the United States federal statutory rate of 21% and our effective tax rate for the years ended December 31, 2021, 2020 and 2019:


(Dollars in thousands)	2021				2020				2019

Loss before income taxes	$	(27,332)			$	(21,770)			$	(13,423)

Income taxes computed at the federal statutory rate	$	(5,740)	21.0	%	$	(4,572)	21.0	%	$	(2,819)	21.0	%
State income taxes, net of federal benefit	(1,513)		5.5	%	(703)		3.2	%	(567)		4.2	%
Goodwill impairment	—		—	%	6,341		(29.1)	%	2,243		(16.7)	%

Change in valuation allowance	2,070		(7.6)	%	22,108		(101.6)	%	—		—	%
Research and development and other tax credits	(808)		3.0	%	(1,316)		6.0	%	(1,790)		13.3	%
Excess executive compensation	272		(1.0)	%	266		(1.2)	%	322		(2.4)	%
Other	567		(2.1)	%	331		(1.5)	%	(47)		0.4	%
(Benefit from) provision for income taxes	$	(5,152)	18.8	%	$	22,455	(103.1)	%	$	(2,658)	19.8	%

Schedule of Deferred Income Tax Assets

The components of deferred income tax assets at December 31, 2021, and 2020 were as follows:


	December 31,
(Dollars in thousands)	2021		2020

Capitalized research and development costs	$	13,436	$	13,367
Net operating loss carryforward	25,284		18,081
Property and equipment	5,139		5,353
Accrued liabilities, reserves and other expenses	4,726		5,063
Research and development credits	6,342		5,533
Tax credits	495		717
Stock based compensation	2,283		1,917
Other	289		132
Gross deferred income tax assets	57,994		50,163
Deferred income tax liabilities:
Intangible assets	(2,128)		(2,015)
Prepaid and other expenses	(35)		(214)
Gross deferred income tax liabilities	(2,163)		(2,229)
Net deferred income tax assets	55,831		47,934
Valuation allowance	(24,178)		(22,108)
Total deferred income tax assets	$	31,653	$	25,826