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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation | Set forth below is a reconciliation of the components that caused our provision for income taxes to differ from amounts computed by applying the United States federal statutory rate for the years ended December 31, 2020, 2019, and 2018:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
U.S. federal statutory income tax rate | 21 | % |  | 21 | % |  | 21 | %
State and local income taxes, net of federal benefit | 3 |  |  | (53) |  |  | (3) |
Stock-based compensation expense | (3) |  |  | (88) |  |  | (7) |
Meals and entertainment | — |  |  | 7 |  |  | 1 |
Change in valuation allowance | — |  |  | (475) |  |  | (1) |
Other permanent differences | 1 |  |  | — |  |  | — |
Research and development tax credits | (2) |  |  | (64) |  |  | (9) |
Provision for (benefit from) income taxes | 20 | % |  | (652) | % |  | 2 | %
Schedule of Components of Income Tax Expense (Benefit) | The provision for (benefit from) income tax consists of the following (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current |  |  |  |  |
Federal | $ | 3,982 |  |  | $ | — |  |  | $ | — |
State and local | 5,444 |  |  | (15) |  |  | 339 |
Total current | 9,426 |  |  | (15) |  |  | 339 |
Deferred |  |  |  |  |
Federal | 27,982 |  |  | (18,761) |  |  | 65 |
State and local | 1,020 |  |  | (12,683) |  |  | 16 |
Total deferred | 29,002 |  |  | (31,444) |  |  | 81 |
Total income tax provision (benefit) | $ | 38,428 |  |  | $ | (31,459) |  |  | $ | 420 |
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets (liabilities) were as follows (in thousands):
| December 31,
| 2020 |  | 2019
Deferred income tax assets: |  |  |
Net operating loss carryforwards | $ | 4,112 |  |  | $ | 22,525 |
Research and development tax credits | 9,467 |  |  | 17,700 |
Stock-based compensation | 2,783 |  |  | 2,895 |
Lease asset | 9,992 |  |  | 8,291 |
Other | 2,196 |  |  | 1,692 |
Total deferred tax assets | 28,550 |  |  | 53,103 |
Deferred tax liabilities: |  |  |
Property, equipment and software | (13,412) |  |  | (7,965) |
Intangible assets | (2,693) |  |  | (3,767) |
Capitalized commissions | (2,708) |  |  | (2,492) |
State taxes | (2,350) |  |  | (2,563) |
Lease liability | (8,064) |  |  | (7,152) |
Other | (751) |  |  | (1,590) |
Total deferred tax liabilities | (29,978) |  |  | (25,529) |
Total net deferred tax (liabilities) assets | $ | (1,428) |  |  | $ | 27,574 |
Summary of Valuation Allowance | The change in the valuation allowance for the years ended December 31, 2020, 2019 and 2018 was as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Valuation allowance, at beginning of year | $ | — |  |  | $ | 23,002 |  |  | $ | 23,827 |
Decrease in valuation allowance | — |  |  | (23,002) |  |  | (825) |
Valuation allowance, at end of year | $ | — |  |  | $ | — |  |  | $ | 23,002 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a reconciliation of the total amounts of reserves for unrecognized tax benefits from uncertain tax positions (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Unrecognized tax benefit beginning of year | $ | 4,421 |  |  | $ | 2,977 |  |  | $ | 2,105 |
Increases-tax positions in current year | 1,720 |  |  | 1,444 |  |  | 872 |
Unrecognized tax benefit end of year | $ | 6,141 |  |  | $ | 4,421 |  |  | $ | 2,977 |

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