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Income taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation
The following table is a reconciliation of the components that caused the Company's provision for income taxes to differ from amounts computed by applying the U.S. federal statutory rate of 21% (in thousands):
Years Ended December 31,
20222021
Statutory U.S. Federal income tax$(8,260)21.0 %$719 21.0 %
State income taxes, net(167)0.4 %(650)(19.0)%
Change in valuation allowance5,384 (13.7)%2,371 69.2 %
Goodwill impairment3,802 (9.7)%— — %
Warrant valuation— — %(4,927)(143.9)%
Tax effect of non-deductible equity instruments— 0.1 %2,340 68.4 %
Return to provision adjustment(5)— %20 0.6 %
Other(772)2.0 %164 4.8 %
Total provision$(18)0.1 %$37 1.1 %
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
December 31,
20222021
Deferred income tax assets:
Net operating loss carryforwards$19,182 $15,049 
ROU assets42 14 
Share-based compensation5,251 4,668 
Inventory157 106 
Other assets2,306 2,021 
Gross deferred tax assets26,938 21,858 
Valuation allowance(24,479)(19,095)
Net deferred tax assets$2,459 $2,763 
Deferred income tax liabilities:
Fixed assets(86)— 
Operating lease liabilities(41)(13)
Intangibles(2,332)(2,774)
Deferred tax liabilities, net of valuation allowance$— $(24)
Summary of Valuation Allowance
Changes in valuation allowance are as follows (in thousands):
Years Ended December 31,
20222021
Valuation allowance, at beginning of year$19,095 $16,724 
Increase in valuation allowance5,384 2,371 
Valuation allowance, at end of year$24,479 $19,095