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Income taxes (Tables) | 12 Months Ended
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Mar. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income (Loss) Before Income Taxes | The components of income (loss) before provision for income taxes are as follows (in thousands):
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Domestic | $ | 3,715 |  |  | $ | 24,479 |  |  |  |  | $ | (21,673) |  |  | $ | 17,405 |
Foreign | (25) |  |  | (410) |  |  |  |  | 500 |  |  | 551 |
Total | $ | 3,690 |  |  | $ | 24,069 |  |  |  |  | $ | (21,173) |  |  | $ | 17,956 |
Schedule of Components of (Provision) Benefit for Income Taxes | The components of the benefit (provision) for income taxes are as follows (in thousands):
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Current: |  |  |  |  |  |  |  |  |
U.S. federal | $ | (4,772) |  |  | $ | (2,681) |  |  |  |  | $ | (13) |  |  | $ | (2,414) |
State | (1,186) |  |  | (1,066) |  |  |  |  | (139) |  |  | (948) |
Foreign | (84) |  |  | 5 |  |  |  |  | (22) |  |  | (8) |
Total current | (6,042) |  |  | (3,742) |  |  |  |  | (174) |  |  | (3,370) |
Deferred: |  |  |  |  |  |  |  |  |
U.S. federal | 7,159 |  |  | (2,532) |  |  |  |  | 3,096 |  |  | 1,005 |
State | 1,293 |  |  | 99 |  |  |  |  | 368 |  |  | 101 |
Foreign | 132 |  |  | (10) |  |  |  |  | (31) |  |  | (167) |
Total deferred | 8,584 |  |  | (2,443) |  |  |  |  | 3,433 |  |  | 939 |
Total (provision) benefit for income taxes | $ | 2,542 |  |  | $ | (6,185) |  |  |  |  | $ | 3,259 |  |  | $ | (2,431) |
Schedule of Reconciliation of Federal Statutory Rate to Company's Effective Tax Rate | The following table presents a reconciliation of the federal statutory rate to the Company’s effective tax rate:
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Federal statutory rate | 21.0 | % |  | 21.0 | % |  |  |  | 21.0 | % |  | 21.0 | %
State tax, net of federal benefit | (10.6) | % |  | 3.7 | % |  |  |  | 1.2 | % |  | 2.6 | %
State tax deferred rate change, net of federal benefit | (1.6) | % |  | 0.1 | % |  |  |  | — | % |  | 0.9 | %
Nondeductible business expenses | 2.1 | % |  | 0.8 | % |  |  |  | (0.1) | % |  | 1.4 | %
Nondeductible employee compensation | 9.1 | % |  | 0.4 | % |  |  |  | — | % |  | — | %
Provision-to-return adjustment | 1.5 | % |  | — | % |  |  |  | — | % |  | (3.9) | %
Uncertain tax positions | 1.0 | % |  | (0.2) | % |  |  |  | (0.1) | % |  | (1.3) | %
Stock based compensation | (90.7) | % |  | (0.8) | % |  |  |  | (6.1) | % |  | (8.6) | %
Others | (0.7) | % |  | 0.7 | % |  |  |  | (0.5) | % |  | 1.4 | %
Effective tax rate | (68.9) | % |  | 25.7 | % |  |  |  | 15.4 | % |  | 13.5 | %
Schedule of Components of Net Deferred Taxes | The components of net deferred taxes arising from temporary differences are as follows (in thousands):
| March 31, 2021 |  | March 31, 2020
Deferred tax assets: |  |  |
Compensation | $ | 624 |  |  | $ | 760 |
Inventories and receivables | 5,710 |  |  | 3,472 |
Accrued expenses | 2,067 |  |  | 1,996 |
Stock compensation | 7,247 |  |  | 3,706 |
Net operating losses | 272 |  |  | 92 |
Right of use liability | 5,731 |  |  | 3,443 |
Other | 560 |  |  | 558 |
Deferred tax assets | 22,211 |  |  | 14,027 |
Deferred tax liabilities: |  |  |
Goodwill | 4,090 |  |  | 3,468 |
Fixed assets | 2,506 |  |  | 3,294 |
Intangible assets | 23,162 |  |  | 25,287 |
Right of use asset | 5,294 |  |  | 3,292 |
Other | 463 |  |  | 563 |
Deferred tax liabilities | 35,515 |  |  | 35,904 |
Net deferred tax liabilities | $ | 13,304 |  |  | $ | 21,877 |
The deferred tax assets and liabilities are reported in the accompanying balance sheets as follows (in thousands):
| March 31, 2021 |  | March 31, 2020
Deferred tax assets | $ | 175 |  |  | $ | 15 |
Deferred tax liabilities | 13,479 |  |  | 21,892 |
Net deferred tax liabilities | $ | 13,304 |  |  | $ | 21,877 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Balance at beginning of year | $ | 477 |  |  | $ | 581 |  |  |  |  | $ | 571 |  |  | $ | 764 |
Increases for prior year tax positions | 6 |  |  | 32 |  |  |  |  | — |  |  | — |
Increases for current year tax positions | 65 |  |  | 90 |  |  |  |  | 10 |  |  | 173 |
Decreases for prior year tax positions | — |  |  | — |  |  |  |  | — |  |  | (8) |
Decreases due to settlements | (27) |  |  | (29) |  |  |  |  | — |  |  | — |
Decreases due to statutes lapsing | (63) |  |  | (197) |  |  |  |  | — |  |  | (358) |
Balance at end of year | $ | 458 |  |  | $ | 477 |  |  |  |  | $ | 581 |  |  | $ | 571 |

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