Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Reconciliation of Differences between United States Statutory Federal Income Tax Rate and Effective Tax Rate

A reconciliation of the differences between the United States statutory federal income tax rate and the effective tax rate as provided in the statements of operations is as follows:

	Year Ended December 31,
	2019			2018
Tax computed at the federal statutory rate		21.0	%		21.0	%
State income taxes, net of federal benefits		1.9			2.7
Nondeductible expenses		(0.4	)		(2.0	)
Stock-based compensation		(9.5	)		(2.2	)
Change in valuation allowance		(13.0	)		(19.5	)
		—			—

Summary of Federal and State Income Tax Provision

The federal and state income tax provision is summarized as follows (in thousands):

	Year Ended December 31,
	2019		2018
Current
Federal	$	—	$	—
State		15		10
		15		10
Deferred
Federal		—		—
State		—		—
		—		—
Income tax expense	$	15	$	10

Significant Components of Deferred Tax Assets (Liabilities)

The tax effects of significant components of the Company’s deferred tax assets (liabilities) are as follows (in thousands):

	December 31,
	2019			2018
Deferred Tax Assets:
Net operating loss carryforwards	$	16,096		$	6,990
Operating lease liabilities		766			—
Other accruals		61			88
Reserves		301			203
Deferred revenue		850			661
Intangible assets		253			353
Stock-based compensation		4,821			6,464
Total gross deferred tax assets	$	23,148		$	14,759
Deferred Tax Liabilities:
Property and equipment		(1,026	)		(888	)
Operating lease right-of-use assets		(739	)		—
Other		(92	)		—
Total gross deferred tax liabilities	$	(1,857	)	$	(888	)
Valuation allowance		(21,291	)		(13,871	)
Total deferred taxes	$	—		$	—