Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of reconciliations of the statutory federal income tax rate to the effective income tax rate

Reconciliations of the statutory federal income tax rate and the Company’s effective tax rate consist of the following (in thousands):

	Year Ended
	December 31,
	2016		2015		2014
Tax at federal statutory rate	$	(25,797)	$	(19,715)	$	(5,661)
State and local tax		(1,133)		(3,189)		(916)
Non-deductible stock compensation		1,291		688		210
Non-deductible expenses		382		158		87
Benefit due to tax rate change		(89)		—		—
Change in valuation allowance		25,856		22,094		6,668
Income tax provision	$	510	$	36	$	388

Schedule of significant components of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands):

	As of
	December 31,
	2016		2015
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	70,247	$	47,053
Accrued expenses		1,088		926
Stock-based compensation		2,238		451
Amortization of debt restructure cost		2,718		—
Amortization of intangible assets		(6,908)		(3,072)
Depreciation of property and equipment		(28)		(152)
Valuation allowance		(71,202)		(46,477)
Other		153		86
Net deferred tax assets (liabilities)	$	(1,694)	$	(1,185)