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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Loss before provision for income taxes for the years ended December 31, 2021 and December 31, 2020 consists of the following:


	Year Ended December 31,
	2021		2020
U.S. loss	$	(137,589)	$	(38,793)
Foreign income	10		98
Total current	$	(137,579)	$	(38,695)

Major components of income tax expense (benefit)

The major components of income tax (expense) benefit attributable to loss from operations consists of:


	Year Ended December 31,
	2021		2020
Current:
Federal	$	50	$	8,217
State	(33)		(176)
Foreign	(160)		(7)
Total current	$	(143)	$	8,034
Deferred:
Federal	—		—
State	—		—
Foreign	—		(20)
Total deferred	—		(20)
Total income tax (expense) benefit	$	(143)	$	8,014

Effective tax rate reconciliation

Income tax (expense) benefit attributable to loss from continuing operations for the years ended December 31, 2021 and 2020 differed from the amounts computed by applying the U.S. federal income tax rates of 21.0%, as a result of the following:


	Year Ended December 31,
	2021	2020
U.S. federal statutory tax rate	21.0%	21.0%
State income taxes, net of federal tax benefit	1.8%	4.7%
Share-based compensation	(0.3)%	7.2%
Change in fair value of financial instruments and other	1.4%	6.1%
Non-deductible transaction costs	—%	(2.1)%
Goodwill impairment(1)	(11.4)%	—%
Changed in valuation allowance(2)	(12.5)%	(18.5)%
Research and development tax credit	0.4%	2.9%
Other, net	(0.5)%	(0.6)%
Effective tax rate	(0.1)%	20.7%

(1)During the year ended December 31, 2021, the Company impaired its goodwill associated with the acquisition of Abacus. A portion of this impairment charge is permanently disallowed for tax purposes.

(2)During the year ended December 31, 2021, the Company maintained a full valuation allowance on its deferred tax assets.

Components of deferred tax assets and liabilities

The components of deferred tax assets and liabilities are as follows:


	December 31,
	2021		2020
Deferred tax assets:
Net operating loss and other carryforwards	$	45,557	$	33,961
Share-based compensation	1,853		1,717
Inventory provision and UNICAP 263A	4,191		4,653
Lease liability	5,586		5,455
Other	385		1,186
Property and equipment	121		—
Intangible assets	514		—
Total deferred tax assets	$	58,207	$	46,972
Valuation allowance	(52,888)		(35,685)
Total deferred tax assets, net	$	5,319	$	11,287

Deferred tax liabilities:
Property and equipment	$	—	$	(851)
Intangibles	—		(5,127)
Right of use assets	(5,110)		(5,103)
Warrants	(209)		(206)
Total deferred tax liabilities	$	(5,319)	$	(11,287)

Net deferred taxes (liabilities)	$	—	$	—

Reconciliation of uncertain tax positions

A reconciliation of the beginning and ending amount of uncertain tax positions as of December 31, 2021 and 2020 is as follows:


Balance at December 31, 2020	$	134
Additions for current year tax positions	52
Additions for prior year tax positions	—
Reductions for prior year tax positions	(7)
Reductions as a result of settlement with tax authority	—
Balance at December 31, 2021	$	179


Balance at December 31, 2019	$	—
Additions for current year tax positions	55
Additions for prior year tax positions	79
Reductions for prior year tax positions	—
Reductions as a result of settlement with tax authority	—
Balance at December 31, 2020	$	134