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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities were comprised of the following at December 31, 2023 and 2022: 

(In thousands)			2023						2022
Deferred tax assets:
Accounts receivable and financing receivables			$	871					$	877
Stock-based compensation			1,275						1,909
Deferred revenue			367						1,002
Research expenditures			16,496						9,779
Accrued severance			890						490
Right of use asset			952						1,848
Other			2,770						814
Net operating loss			3,656						3,738
Deferred tax assets			27,277						20,457
Less: Valuation allowance			604						604
Total deferred tax assets			$	26,673					$	19,853
Deferred tax liabilities:
Intangible assets			$	14,477					$	20,941
Accrued liabilities and other			12,127						9,259
Fixed assets			254						527
Right of use liability			1,045						$	1,884
Total deferred tax liabilities			$	27,903					$	32,611
Total net deferred tax liability			$	(1,230)					$	(12,758)

Components of Income Tax (benefit) Provision

Significant components of the income tax (benefit) provision for the years ended December 31, 2023, 2022 and 2021 were as follows:

(In thousands)			2023						2022						2021
Current provision:
Federal			$	2,392					$	6,482					$	731
State			322						2,420						413
Deferred provision:
Federal			(8,884)						(4,769)						3,331
State			(2,421)						(1,919)						171
Total income tax (benefit) provision			$	(8,591)					$	2,214					$	4,646

Reconciliation to Federal Statutory Income Tax Rate

The difference between income taxes at the U.S. federal statutory income tax rate of 21% for the years ended December 31, 2023, 2022 and 2021, and those reported in the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021 are as follows:

(In thousands)			2023						2022						2021
Income taxes at U.S. federal statutory rate			$	(11,420)					$	3,797					$	4,846
Provision-to-return adjustments			(999)						(539)						117
State income tax, net of federal tax effect			(2,157)						428						509
Tax credits			(2,481)						(1,254)						(1,274)
Contingent consideration			—						(406)						—
Goodwill impairment			7,542						—						—
Stock-based compensation			65						(112)						(74)
Non-deductible compensation - 162(m)			15						306						510
Other			844						(6)						12
Total income tax (benefit) provision			$	(8,591)					$	2,214					$	4,646

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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