Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Provision for Income Taxes

Income (loss) before provision for income taxes consisted of the following:

	Year Ended December 31,
(U.S. Dollars, in thousands)	2023			2022			2021
U.S.	$	(154,794	)	$	(22,318	)	$	(5,987	)
Non-U.S.		6,115			4,612			(7,508	)
Income (loss) before income taxes	$	(148,679	)	$	(17,706	)	$	(13,495	)

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	Year Ended December 31,
(U.S. Dollars, in thousands)	2023			2022		2021
U.S.
Current	$	17		$	1,151	$	(607	)
Deferred		1,160			67		24,292
		1,177			1,218		23,685
Non-U.S.
Current		2,120			578		1,009
Deferred		(581	)		247		190
		1,539			825		1,199
Income tax expense (benefit)	$	2,716		$	2,043	$	24,884

Schedule of Effective Income Tax Rate Reconciliation for Continuing Operations

The differences between the income tax provision at the U.S. federal statutory tax rate and the Company’s effective tax rate for the years ended December 31, 2023, 2022, and 2021, consist of the following:

	2023						2022						2021
(U.S. Dollars, in thousands, except percentages)	Amount			Percent			Amount			Percent			Amount			Percent
Statutory U.S. federal income tax rate	$	(31,222	)		21.0	%	$	(3,718	)		21.0	%	$	(2,834	)		21.0	%
State taxes, net of U.S. federal benefit		(3,452	)		2.3			(1,312	)		7.4			(24	)		0.2
Foreign rate differential, including withholding taxes		(738	)		0.5			475			(2.7	)		480			(3.6	)
Valuation allowances, net		28,322			(19.0	)		7,638			(43.1	)		27,819			(206.1	)
Foreign income inclusions, net		2,333			(1.6	)		1,018			(5.7	)		—			—
Research credits		(1,219	)		0.8			(750	)		4.2			(537	)		4.0
Unrecognized tax benefits, net of settlements		71			—			(599	)		3.4			(1,363	)		10.1
Equity compensation		4,210			(2.8	)		1,441			(8.1	)		1,091			(8.1	)
Executive compensation		3,030			(2.0	)		697			(3.9	)		456			(3.4	)
Contingent consideration		—			—			(3,316	)		18.7			(640	)		4.7
Other, net		1,381			(0.9	)		469			(2.6	)		436			(3.2	)
Income tax expense (benefit) /effective rate	$	2,716			(1.8	)%	$	2,043			(11.5	)%	$	24,884			(184.4	)%

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred tax assets and liabilities are as follows:

	December 31,
(U.S. Dollars, in thousands)	2023			2022
Intangible assets and goodwill	$	—		$	5,807
Inventories and related reserves		33,122			17,819
Deferred revenue and cost of goods sold		4,409			3,642
Other accruals and reserves		5,382			2,756
Accrued compensation		14,861			8,795
Provision for expected credit losses		1,821			1,253
Accrued interest		1,227			—
Net operating loss and tax credit carryforwards		123,210			40,676
Research and development capitalization		15,174			4,353
Lease liabilities		9,632			6,440
Other, net		5,429			3,767
Total deferred tax assets		214,267			95,308
Valuation allowance		(200,192	)		(83,797	)
Deferred tax asset, net of valuation allowance	$	14,075		$	11,511
Intangible assets and goodwill	$	(1,662	)	$	—
Withholding taxes		(10	)		(10	)
Property, plant, and equipment		(5,737	)		(5,516	)
Right-of-use lease assets		(8,755	)		(5,771	)
Deferred tax liability	$	(16,164	)	$	(11,297	)
Net deferred tax assets (liabilities)	$	(2,089	)	$	214
Reported as:
Deferred income tax assets (classified within other long-term assets)	$	2,081		$	1,470
Deferred income tax liabilities (classified within other long-term liabilities)		(4,170	)		(1,256	)
Net deferred tax assets (liabilities)	$	(2,089	)	$	214

Schedule of Gross Unrecognized Tax Benefits (Excluding Interest and Penalties)

A reconciliation of the gross unrecognized tax benefits (excluding interest and penalties) for the years ended December 31, 2023, and 2022, is shown below:

(U.S. Dollars, in thousands)	2023		2022
Balance as of January 1,	$	1,743	$	3,462
Additions for current year tax positions		416		46
Increases for prior year tax positions		815		16
Settlements of prior year tax positions		—		(144	)
Expiration of statutes		—		(1,637	)
Balance as of December 31,	$	2,974	$	1,743