Income Taxes (Tables)

9 Months Ended

Sep. 30, 2021

The domestic and foreign components of income before provision for (benefit from) income taxes consisted of the following (in thousands):

The provision for (benefit from) income taxes consisted of the following (in thousands):


	Year Ended December 31,
	2019		2020
Current:
Federal and Foreign	$	270	$	1,113
State	34		90
Total current tax expense	304		1,203
Deferred:
Federal and Foreign	(691)		628
State	2		1
Total deferred tax expense	(689)		629
(Benefit from) provision for income taxes	$	(385)	$	1,832

The following table presents the reconciliation of the statutory federal income tax rate to our effective tax rate:


	Year Ended December 31,
	2019		2020
Tax at federal statutory rate	21.0	%	21.0	%
Foreign and state income taxes	1.9	%	110.3	%
Permanent differences	(11.5)	%	(186.3)	%
Change in valuation allowance	(9.3)	%	(447.8)	%
Research and development tax credit	—	%	192.7	%
Return to provision adjustments	(0.1)	%	(18.5)	%
Other, net	(1.8)	%	22.6	%
Effective tax rate	0.3	%	(306.2)	%

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


	Year Ended December 31,
	2019		2020
Deferred tax assets:
Net operating loss carryforward	$	16,234	$	12,156
Deferred revenue	9,639		16,007
Stock-based compensation	2,843		2,838
Operating lease liabilities	1,729		2,521
Research and development tax credit	—		1,151
Other	514		429
Gross deferred tax assets	30,959		35,102
Less: Valuation allowances	(19,169)		(21,862)
Total deferred tax assets	$	11,790	$	13,240
Deferred tax liabilities:
Deferred commissions	$	(5,642)	$	(7,398)
Property, equipment and intangible assets	(3,598)		(2,918)
Operating lease right of use assets, net	(1,853)		(2,440)
Other	(61)		(361)
Total deferred tax liabilities	(11,154)		(13,117)
Net deferred tax assets	$	636	$	123