Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of the Provision for Income Taxes

For the years ended December 31, 2023, and 2022, the components of the provision for income taxes were as follows:


	Year Ended December 31,
(in thousands)	2023		2022


Current:
Federal	$	—	$	—
State and Local	77		(25)
Foreign	429		396
Total current provision	$	506	$	371
Deferred:
Federal	$	—	$	(3)
State and local	—		(1)
Foreign	—		—
Total deferred provision	$	—	$	(4)
Total tax provision	$	506	$	367

Reconciliation of Effective Income Tax Rate

For the years ended December 31, 2023, and 2022, the following table reconciles the Company’s effective income tax rate to the U.S. federal statutory income tax rate:


	Year Ended December 31,
(in thousands)	2023				2022

Loss before income taxes	$	(48,390)			$	(50,550)

U.S. federal statutory income tax provision (benefit)	$	(10,152)	21.0	%	$	(10,615)	21.0	%
Permanent items	212		(0.4	%)	(360)		0.7	%
State and local income taxes, net of federal tax benefit	(1,635)		3.4	%	(1,938)		3.8	%
Change in valuation allowance	11,786		(24.4)	%	12,409		(24.5)	%
Return to provision adjustments	41		(0.1)	%	475		(0.9)	%
Foreign withholding taxes	254		(0.5)	%	396		(0.8)	%
Total tax provision	$	506	(1.0)	%	$	367	(0.7)	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2023, and 2022, the significant components of deferred tax assets and liabilities were as follows:


	December 31,
(in thousands)	2023		2022

Deferred tax assets:
Net operating loss carryforwards	$	54,962	$	49,050
Accrued expenses and reserves	401		526
Intangibles and content assets	7,439		2,837

Lease liability	1,143		1,232
Stock based compensation	3,540		3,046
Other	1,175		275
Total deferred tax asset	68,660		56,966
Valuation allowance	(67,837)		(56,051)
Deferred tax assets, net of valuation allowance	$	823	$	915
Deferred tax liabilities:

ROU asset	(823)		(915)
Deferred tax liabilities, net	$	—	$	—