Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision (Benefit) Reported in Consolidated Statements of Operations

Income tax provision (benefit) reported in the consolidated statements of operations is comprised of the following:

	For the Years Ended
	December 31,
($ in thousands)	2021			2020
Current provision (benefit)
Federal	$	187		$	—
State, net of state tax credits		1,276			564
Total current provision (benefit)		1,463			564
Deferred provision (benefit)
Federal		2,022			(10,193	)
State and local		480			(1,623	)
Valuation allowance		(2,422	)		11,458
Total deferred provision (benefit)		80			(358	)
Total income tax provision (benefit)	$	1,543		$	206

Schedule of Reconciliation of Statutory Federal Income Tax Rate

The following is a reconciliation of the statutory federal income tax rate applied to pre-tax accounting net income (loss), compared to the income tax provision (benefit) in the consolidated statements of operations:

	For the Years Ended
	December 31,
($ in thousands)	2021					2020
Expected federal tax (benefit)	$	3,317		21.0	%	$	(9,795	)	21.0	%
State tax provision, net of federal benefit		1,743		11.0	%		(1,378	)	3.0	%
Prior year true up		331		2.1	%		(7	)	0.0	%
Change in tax rate		—		0.0	%		304		-0.6	%
Effect of increase in valuation allowance		(2,422	)	-15.3	%		11,458		-24.6	%
Change in fair value of warrant liability		661		4.2	%		(518	)	1.1	%
PPP loan forgiveness		(2,651	)	-16.8	%		—		0.0	%
Interest		525		3.3	%		—		0.0	%
Other permanent differences		39		0.2	%		142		-0.3	%
Provision (benefit)	$	1,543		9.8	%	$	206		-0.4	%

Components of Net Deferred Taxes for Federal and State Income Taxes

The following are the components of the Company’s net deferred taxes for federal and state income taxes:

	December 31,
($ in thousands)	2021			2020
Deferred tax assets
Accrued expenses and other	$	2,269		$	2,232
Advancement income		—			1,658
Debt discount		591			2,171
Interest		5,033			3,855
Stock-based compensation		860			708
Lease liabilities		10,018			10,440
Loss carryforwards		11,123			12,408
Total deferred tax assets		29,894			33,472
Valuation allowance		(16,703	)		(19,125	)
Net deferred tax assets		13,191			14,347
Deferred tax liabilities:
Prepaid expenses		(99	)		(148	)
Lease assets		(8,268	)		(10,061	)
Fixed assets and intangible assets		(4,921	)		(4,155	)
Total deferred tax liabilities		(13,288	)		(14,364	)
Net non-current deferred tax liability	$	(97	)	$	(17	)