Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The following are the domestic and foreign components of the Company's loss before income taxes:

	Year Ended December 31,
(In thousands)	2023		2022		2021
Domestic	$	(67,296)	$	(146,091)	$	(28,590)
Foreign	1,038		1,264		(436)
Total	$	(66,258)	$	(144,827)	$	(29,026)

Schedule of Components of Income Tax Expense (Benefit)

consists of the following:

	Year Ended December 31,
(In thousands)	2023		2022		2021
Current:
Federal	$	—	$	—	$	—
State	46		11		—
Foreign	185		205		9
Total current tax provision	231		216		9
Deferred:
Federal	(62)		(2,924)		(17,703)
State	—		(2,314)		(2,424)
Foreign	—		—		—
Total deferred tax benefit	(62)		(5,238)		(20,127)
Income tax expense (benefit)	$	169	$	(5,022)	$	(20,118)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations follows:

	Year Ended December 31,
	2023		2022		2021
Federal statutory tax	21	%	21	%	21	%
State tax, net of federal benefit	4	%	3	%	7	%
Stock compensation	(2	%)	—		36	%
Sec. 162(m) limitation on executive compensation	(2	%)	(1	%)	(11	%)
Fair value change in contingent consideration	1	%	1	%	(2	%)
Transaction costs	—		—		(1	%)
Gain on stock acquisition	—		—		5	%
Tax credits	1	%	1	%	—
Change in valuation allowance	(25	%)	(21	%)	20	%
Expired net operating losses	—		—		(5	%)
Gain on escrow settlement	2	%	—		—	%
Other	—		—		(1	%)
Total	—		4	%	69	%

Schedule of Deferred Tax Assets and Liabilities

The principal components of the Company’s net deferred tax assets are as follows as of December 31, 2023 and 2022:

(In thousands)	2023		2022
Deferred tax assets related to:
Net operating loss carryforwards	$	35,505	$	29,102
Stock-based compensation	3,008		3,207
Accruals and reserves	3,590		3,724
Inventory	1,408		425
Fixed assets	585		—
Lease liabilities	3,950		3,653
Tax credit carryforward	2,226		1,423
Capitalized research and development	4,818		2,405
Other	875		445
Total deferred tax assets	55,965		44,384
Deferred tax liabilities related to:
Intangibles	(3,696)		(6,150)
Right-of-use assets	(2,500)		(3,458)
Fair value change in investments	(440)		(447)
Fixed assets	—		(1,177)
Total deferred tax liabilities	(6,636)		(11,232)
Net deferred tax (liabilities) assets before valuation allowance	49,329		33,152
Less: valuation allowance	(49,517)		(33,402)
Net deferred tax liabilities	$	(188)	$	(250)

Summary of Valuation Allowance

The changes in the valuation allowance for deferred tax assets were as follows:

(In thousands)	2023		2022		2021
Balance at beginning of period	$	33,402	$	2,993	$	8,498
Deferred tax liabilities assumed through acquisitions	—		—		(8,498)
Charged to income tax expense	16,115		30,409		2,993
Balance at end of period	$	49,517	$	33,402	$	2,993

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending balances of uncertain tax positions in the years ended December 31, 2023 and 2022 is as follows:

(In thousands)	2023		2022
Balance at beginning of period	$	610	$	255
Increase related to prior year tax positions	20		170
Increase related to current year tax positions	324		185
Balance at end of period	$	954	$	610