Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense Attributable to Loss from Continuing Operations

The Company has limited foreign operations and pre-tax loss from its foreign operations has no material impact on Income tax. Income tax expense attributable to loss from continuing operations consists of (in thousands):

	Current		Deferred		Total
Year ended December 31, 2021
U.S. operations	$	—	$	(94,232)	$	(94,232)
Valuation allowance	—		94,232		94,232
	$	—	$	—	$	—
Year ended December 31, 2020
U.S. operations	$	—	$	(8,011)	$	(8,011)
Valuation allowance	—		8,011		8,011
	$	—	$	—	$	—

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s deferred taxes are as follows (in thousands):

	As of December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	104,174	$	13,448
Tax credits	3,842		994
Lease liability	5,085		579
Other	892		120
Total gross deferred income tax assets	113,993		15,141
Deferred tax liabilities:
ROU asset	(5,198)		(579)
Total gross deferred income tax liabilities	(5,198)		(579)
Net deferred income tax assets	108,794		14,562
Valuation allowance	(108,794)		(14,562)
Deferred tax asset, net of allowance	$	—	$	—

Schedule of Valuation Allowance

The changes in the valuation allowance related to current year operating activity was an increase in the amount of $94 million during the year ended December 31, 2021.

	Year Ended December 31,
	2021		2020
Beginning of the year	$	14,562	$	6,551
Increase—income tax benefit	94,232		8,011
End of the year	$	108,794	$	14,562

Schedule of Effective Income Tax Rate Reconciliation Percent

The effective tax rate of the Company’s (provision) benefit for income taxes differs from the federal statutory rate as follows:

	Year Ended December 31,
	2021		2020
Expected federal income tax benefit	21.0	%	21.0	%
State taxes net of federal benefit	3.7	%	-0.7	%
Tax credits	0.8	%	0.1	%
Valuation allowance	-20.0	%	-6.2	%
Fair value of derivatives	-6.2	%	-13.8	%
Other	0.7	%	-0.4	%
Income taxes provision (benefit)	0.0	%	0.0	%

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows (in thousands):

	Year Ended December 31,
	2021		2020
Beginning of the year	$	229	$	100
Increase related to current year tax positions	871		129
Decrease for tax positions of prior years	(129)		—
Decrease due to expiration of statute of limitations	(3)		—
End of the year	$	968	$	229