Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of 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)	2022		2021		2020

Income (loss) before income taxes	$	997	$	(27,332)	$	(21,770)

Current:
Federal tax	$	—	$	—	$	—
State tax	38		48		58
Foreign tax	50		283		(150)
Total current	88		331		(92)
Deferred:
Federal tax	(20,642)		(4,178)		20,594
State tax	25		(1,561)		1,910
Foreign tax	(330)		256		43
Total deferred	(20,947)		(5,483)		22,547
Benefit from (provision for) income taxes	$	(20,859)	$	(5,152)	$	22,455

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, 2022, 2021 and 2020:


(Dollars in thousands)	2022				2021				2020

Income (loss) before income taxes	$	997			$	(27,332)			$	(21,770)

Income taxes computed at the federal statutory rate	$	209	21.0	%	$	(5,740)	21.0	%	$	(4,572)	21.0	%
State income taxes, net of federal benefit	121		12.1	%	(1,513)		5.5	%	(703)		3.2	%
Goodwill impairment	—		—	%	—		—	%	6,341		(29.1)	%

Change in valuation allowance	(21,850)		(2,191.6)	%	2,070		(7.6)	%	22,108		(101.6)	%
Research and development and other tax credits	(88)		(8.8)	%	(808)		3.0	%	(1,316)		6.0	%
Excess executive compensation	231		23.1	%	272		(1.0)	%	266		(1.2)	%
Other	518		52.0	%	567		(2.1)	%	331		(1.5)	%
(Benefit from) provision for income taxes	$	(20,859)	(2,092.2)	%	$	(5,152)	18.8	%	$	22,455	(103.1)	%

Schedule of Deferred Income Tax Assets

The components of deferred income tax assets at December 31, 2022 and 2021 were as follows:


	December 31,
(Dollars in thousands)	2022		2021

Capitalized research and development costs	$	13,862	$	13,436
Net operating loss carryforward	25,710		25,284
Property and equipment	4,142		5,139
Accrued liabilities, reserves and other expenses	3,877		4,350
Research and development credits	6,430		6,342
Tax credits	717		495
Stock based compensation	1,834		2,283
Operating lease liabilities	3,999		4,427
Other	120		289
Gross deferred income tax assets	60,691		62,045
Deferred income tax liabilities:
Intangible assets	(2,269)		(2,128)
Right-of-use assets	(3,534)		(4,051)
Prepaid and other expenses	(162)		(35)
Gross deferred income tax liabilities	(5,965)		(6,214)
Net deferred income tax assets	54,726		55,831
Valuation allowance	(2,328)		(24,178)
Total deferred income tax assets	$	52,398	$	31,653