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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Tax, Domestic and Foreign | For the years ended December 31, 2023, 2022 and 2021 income (loss) before income taxes included the following components:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Domestic | $ | 16,501 |  |  | $ | (60,099) |  |  | $ | (59,737) |
Foreign | 1,276 |  |  | 1,463 |  |  | (221) |
Total | $ | 17,777 |  |  | $ | (58,636) |  |  | $ | (59,958) |
Schedule of Effective Income Tax Rate Reconciliation | For the years ended December 31, 2023, 2022 and 2021 the Company recognized the following provision for income taxes:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 895 |  |  | $ | 302 |  |  | $ | — |
State | 607 |  |  | 327 |  |  | 80 |
Foreign | 341 |  |  | 524 |  |  | 97 |
Total | $ | 1,843 |  |  | $ | 1,153 |  |  | $ | 177 |
Deferred: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | — |
State | — |  |  | — |  |  | — |
Foreign | (133) |  |  | (215) |  |  | — |
Total | $ | (133) |  |  | $ | (215) |  |  | $ | — |
Total provision for income taxes | $ | 1,710 |  |  | $ | 938 |  |  | $ | 177 |
The provision for income taxes differs from the amounts computed by applying the federal statutory rate as follows for the years ended December 31, 2023, 2022 and 2021:
| 2023 |  | 2022 |  | 2021
Expected income tax expense at federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, net of Federal income tax effect | (35.1) |  |  | 6.7 |  |  | 6.5 |
Section 162(m) limitation | 56.5 |  |  | (15.2) |  |  | (13.5) |
Equity compensation | (208.4) |  |  | 28.4 |  |  | 53.8 |
Meals and entertainment | 5.6 |  |  | (1.2) |  |  | (0.5) |
Foreign-Derived Intangible Income deduction | (13.4) |  |  | — |  |  | — |
Other permanent adjustments | 2.2 |  |  | 0.3 |  |  | — |
Research and development credit | (76.4) |  |  | 11.7 |  |  | 15.9 |
Valuation allowance | 257.6 |  |  | (53.3) |  |  | (83.5) |
Effective income tax rate | 9.6 | % |  | (1.6) | % |  | (0.3) | %
Schedule of Deferred Tax Assets and Liabilities | The Company has the following deferred tax assets (liabilities) as of December 31, 2023 and 2022:
| 2023 |  | 2022
Net operating loss carryforwards | $ | 15,533 |  |  | $ | 42,861 |
Stock-based compensation | 5,207 |  |  | 3,605 |
Research and development credits | 38,146 |  |  | 22,386 |
Lease liability | 5,739 |  |  | 6,487 |
Section 174 research and development capitalization | 102,055 |  |  | 42,429 |
Marketing and advertising | 766 |  |  | 633 |
Sales tax / Value added tax ("VAT") reserve | 397 |  |  | 210 |
Other deferred tax assets | 65 |  |  | 140 |
Valuation allowance | (156,870) |  |  | (108,504) |
Total deferred tax assets | 11,038 |  |  | 10,247 |
ROU asset | (4,354) |  |  | (5,122) |
Property and equipment | (2,164) |  |  | (2,569) |
Capitalized software | (3,716) |  |  | (1,913) |
Other deferred tax liabilities | (38) |  |  | (10) |
Total deferred tax liabilities | (10,272) |  |  | (9,614) |
Net deferred taxes | $ | 766 |  |  | $ | 633 |
Summary of Valuation Allowance | The following table represents the activity in our valuation allowance for the years ended December 31, 2023 and 2022:
| Year Ended December 31,
| 2023 |  | 2022
Beginning balance—January 1 | $ | (108,504) |  |  | $ | (76,293) |
Valuation allowances established | (48,366) |  |  | (32,211) |
Release of valuation allowances | — |  |  | — |
Ending balance—December 31 | $ | (156,870) |  |  | $ | (108,504) |

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