Income Tax (Tables)

12 Months Ended

Dec. 31, 2021

Major Components Of Tax Expense Income [Abstract]

Summary of Current and Deferred Tax (Expenses) Benefits

The following table presents the current and deferred tax (expense) benefits (in USD thousands):

	For the year ended December 31,
	2021			2020			2019
Current income tax expense
Current year	$	—		$	—		$	(86	)
Uncertain tax positions		(110	)		(74	)		(76	)
Total current income tax expense	$	(110	)	$	(74	)	$	(162	)
Deferred income tax (expense) benefit
Origination and reversal of temporary differences	$	(58	)	$	1,960		$	—
Total deferred income tax (expense) benefit	$	(58	)	$	1,960		$	—
Total income tax (expense) benefit	$	(168	)	$	1,886		$	(162	)

Reconciliation of Expected Tax Expense to Tax Expense Report in Statement of Loss

The following table presents the reconciliation of the expected tax expense to the tax expense report in the statement of loss (in USD thousands):

	For the year ended December 31,
	2021			2020			2019
Loss before tax	$	(73,507	)	$	(41,225	)	$	(33,629	)
Tax at Swiss statutory rate		9,907			5,541			4,519
Effect of tax rates in foreign jurisdictions		(218	)		(177	)		568
Tax effect of:
Unrecognized deferred tax assets		(9,077	)		(3,276	)		(5,110	)
Income not subject to tax (expense not deductible for tax purposes)		(805	)		41			(1	)
Uncertain tax positions		(110	)		(74	)		(76	)
Other		135			(169	)		(62	)
Income tax (expense)/benefit	$	(168	)	$	1,886		$	(162	)

Summary of Movement in Deferred Tax Balances

During the year ended December 31, 2020, the Company recognized deferred tax assets for its foreign subsidiaries due to the implementation of intercompany transfer pricing arrangements that will assure realization of their respective deferred tax assets in each country. The following table presents the changes in the Company’s deferred tax assets and deferred tax liabilities (in USD thousands):

	Depreciation & amortization			Bad debt reserves			Accrued pension			ROU asset			Lease liability			Other			Net operating loss carryforward			Total
January 1, 2021	$	288		$	433		$	35		$	(311	)	$	301		$	(10	)	$	1,378		$	2,114
Recognized in profit or loss		(309	)		(65	)		12			(34	)		331			38			(31	)		(58	)
Currency translation differences		(8	)		(27	)		(3	)		(7	)		(2	)		68			(87	)		(66	)
December 31, 2021	$	(29	)	$	341		$	44		$	(352	)	$	630		$	96		$	1,260		$	1,990
Deferred tax assets		—			341			44			—			630			361			1,260			2,636
Deferred tax liabilities		(29	)		—			—			(352	)		—			(265	)		—			(646	)

	Depreciation & amortization		Bad debt reserves		Accrued pension			ROU asset			Lease liability		Other			Net operating loss carryforward		Total
January 1, 2020	$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—
Recognized in profit or loss		268		403		33			(289	)		280		(17	)		1,282		1,960
Recognized in OCI		—		—		7			—			—		—			—		7
Currency translation differences		20		30		(5	)		(22	)		21		7			96		147
December 31, 2020	$	288	$	433	$	35		$	(311	)	$	301	$	(10	)	$	1,378	$	2,114
Deferred tax assets		288		433		35			—			301		—			1,378		2,435
Deferred tax liabilities		—		—		—			(311	)		—		(10	)		—		(321	)

Summary of Unrecognized Deferred Tax Assets

The following table consists of the deferred tax assets that have not been recognized because it is not probable that there will be future taxable profits to use these benefits (in USD thousands):

	December 31,
	2021				2020
	Gross amount		Tax effect		Gross amount		Tax effect
Deductible temporary differences	$	5,101	$	729	$	5,371	$	722
Net operating loss carryforwards		202,394		28,597		141,896		20,616
Total	$	207,495	$	29,326	$	147,267	$	21,338

Summary of Expiring Amounts of Unrecognized Net Operating Loss Carryforwards

As of December 31, 2021 and December 31, 2020, the Company had the following expiring amounts of unrecognized NOL carryforwards (in USD thousands):

	December 31,
	2021		2020
One year	$	7,625		$	3,262
Two years		12,170			7,265
Three years		16,482			12,170
Four years		15,772			16,482
Thereafter and unlimited		150,345			102,717
Net operating loss carryforwards	$	202,394		$	141,896