Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income tax provision

The components of the Company’s federal income tax expense (benefit) are as follows:

	December 31, 2021		December 31, 2020
Current	$	—	$	—
Deferred	—		(84)
Income tax expense (benefit)	$	—	$	(84)

Schedule of federal income tax rate to the Company’s effective tax rate

The following table presents a reconciliation of the tax expense (benefit) based on the statutory rate to the Company's actual tax expense (benefit) in the consolidated statements of operations:

	December 31, 2021		December 31, 2020
Statutory tax expense	$	(45,456)	$	(25,241)
Warrants – mark to market	545		14,552
Research and development tax credit	(1,555)		(1,170)
Change in valuation allowance	43,604		11,435
Other, net	2,862		340
Income tax expense (benefit)	$	—	$	(84)

Schedule of net deferred tax assets or liabilities

The following table summarizes information regarding the Company's deferred tax assets, deferred tax liabilities and valuation allowance (in thousands):

	December 31, 2021		December 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$	125,037	$	73,364
Tax credit carryforwards	7,388		4,780
Unearned premium reserves	662		103
Discounting of unpaid losses	631		167
Stock compensation	2,487		501
Other	324		1,048
Total deferred tax assets	136,529		79,963

Deferred tax liabilities:
Depreciation & Amortization	(6,507)		(3,691)
Total deferred tax liabilities	(6,507)		(3,691)
Net deferred tax assets before valuation allowance	130,022		76,272
Less valuation allowance	(130,022)		(76,272)
Balance end of year	$	—	$	—

Schedule of uncertain tax positions

The following is a reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefit liabilities (in thousands):

	December 31, 2021		December 31, 2020
Gross unrecognized tax benefit, beginning of the year	$	1,754	$	1,364
Increases related to tax positions taken during current year	519		390
Gross unrecognized tax benefit, ending balance	$	2,273	$	1,754