Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the years ended December 31,
(In thousands)	2023			2022			2021
Current
Federal	$	(487	)	$	—		$	—
State		946			(394	)		(2,536	)
Foreign		(4,750	)		(10,512	)		(2,794	)
		(4,291	)		(10,906	)		(5,330	)
Deferred
Federal		(52	)		40,750			(10,901	)
State		298			12,078			1,280
Foreign		(392	)		21,577			(538	)
		(146	)		74,405			(10,159	)
Total, net	$	(4,437	)	$	63,499		$	(15,489	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(In thousands)	December 31, 2023			December 31, 2022
Deferred income tax assets:
Federal net operating loss	$	70,779		$	68,022
State net operating loss		59,650			55,134
Foreign net operating loss		13,315			16,947
Research and development expense		21,431			14,349
Tax credits		20,827			22,488
Stock options		30,431			33,558
Accruals		4,743			2,724
Equity investments		25,718			17,309
Bad debts		348			265
Lease liability		1,578			1,842
Foreign credits		9,653			9,629
Available-for-sale securities		2,642			2,649
Operating lease asset		17,141			10,919
Fixed assets		318			—
Investment in subsidiaries		—			3,659
Other		3,558			5,263
Deferred income tax assets		282,132			264,757
Deferred income tax liabilities:
Intangible assets		(91,020	)		(94,856	)
Operating lease liability		(16,773	)		(10,675	)
Fixed assets		—			(180	)
Other		(3,067	)		(3,097	)
Deferred income tax liabilities		(110,860	)		(108,808	)
Net deferred income tax assets		171,272			155,949
Valuation allowance		(294,563	)		(279,212	)
Net deferred income tax assets (liabilities)	$	(123,291	)	$	(123,263	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	For the years ended December 31,
(In thousands)	2023			2022
Unrecognized tax benefits at beginning of period	$	14,843		$	11,497
Gross increases – tax positions in current period		3,991			3,713
Gross decreases – tax positions in prior period		(348	)		(271	)
Settlements		(1,360	)		—
Lapse of Statute of Limitations		(195	)		(96	)
Unrecognized tax benefits at end of period	$	16,931		$	14,843

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the years ended December 31,
	2023			2022			2021
Federal statutory rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal benefit		4.7	%		4.0	%		(7.9	)%
Foreign income tax		(2.5	)%		(2.0	)%		21.6	%
Income Tax Refunds		(0.4	)%		—	%		6.1	%
Research and development tax credits		0.7	%		0.2	%		2.3	%
GeneDx Disposition		—	%		0.8	%		—	%
Valuation allowance		(7.0	)%		(6.3	)%		235.4	%
Rate change effect		0.4	%		5.2	%		(40.5	)%
Non-deductible items		(0.6	)%		0.6	%		(67.0	)%
Unrecognized tax benefits		0.7	%		(0.7	)%		11.3	%
GILTI		(14.8	)%		(4.9	)%		—	%
Stock options excess tax benefit, cancellations & expirations		(2.3	)%		(0.3	)%		(3.8	)%
Imputed interest		(0.8	)%		(0.4	)%		(6.3	)%
Investment in subsidiaries		—	%		—	%		(287.6	)%
Tax on deemed dividend		—	%		(1.0	)%		—	%
True-Up to Adjustments		(2.3	)%		—	%		—	%
Other		0.8	%		—	%		9.7	%
Total		(2.4	)%		16.2	%		(105.7	)%

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	For the years ended December 31,
(In thousands)	2023			2022			2021
Pre-tax income (loss):
U.S.	$	(198,394	)	$	(389,439	)	$	(2,965	)
Foreign		13,968			(2,465	)		(11,689	)
Total	$	(184,426	)	$	(391,904	)	$	(14,654	)