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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Schedule of components of net income (loss) before income taxes

​

​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2022			2021			2020
U.S.	​	$	5,827	​	$	5,608	​	$	(107,959)
Foreign	​		(15,957)	​		(9,534)	​		90
Net loss before income taxes	​	$	(10,130)	​	$	(3,926)	​	$	(107,869)

​

Schedule of Income tax benefit (expense)

​

​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2022			2021			2020
Current income taxes:		​			​			​
Federal	​	$	1,696	​	$	—	​	$	—
State and local	​	​	1,068	​	​	155	​	​	617
Foreign	​		577	​		468	​		94
Total current	​		3,341	​		623	​		711
Deferred income taxes:	​			​			​
Federal	​	​	904	​	​	(1,849)	​	​	(27,076)
State and local	​		72	​		(7)	​		(6,491)
Foreign	​		(2,143)	​		(1,214)	​		68
Total deferred	​		(1,167)	​		(3,070)	​		(33,499)
Income tax expense (benefit)	​	$	2,174	​	$	(2,447)	​	$	(32,788)

​

Schedule of reconciliation of the effective tax rate to tax

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​		2022					2021					2020
​	​	Total		​	Tax Rate	​	Total		​	Tax Rate		Total		​	Tax Rate
Pretax net loss	​	$	(10,130)			​	$	(3,926)			​	$	(107,869)			​
Taxes:	​		​			​					​					​
U.S. federal income tax at statutory rate	​	$	(2,128)		21.0	%	$	(825)		21.0	%	$	(22,652)		21.0	%
State income taxes	​	​	441		(4.4)	%	​	678		(17.3)	%	​	(1,811)		1.7	%
Tax effect of S-Corporation status	​	​	—	​	—	%	​	—	​	—	%	​	21,325	​	(19.8)	%
Impact of change in tax status	​	​	—	​	—	%	​	—	​	—	%	​	(25,396)	​	23.5	%
Stock-based compensation expense	​	​	1,787	​	(17.6)	%	​	(4,550)	​	115.9	%	​	(5,809)	​	5.4	%
Impact of foreign operations	​		1,352	​	(13.3)	%		954	​	(24.3)	%		(56)	​	0.1	%
Transaction costs	​	​	176	​	(1.7)	%	​	1,082	​	(27.6)	%	​	—	​	—	%
U.S. taxation of foreign earnings	​	​	(179)	​	1.8	%	​	144	​	(3.7)	%	​	81	​	(0.1)	%
Nondeductible compensation	​	​	485	​	(4.8)	%	​	682	​	(17.4)	%	​	883	​	(0.8)	%
Tax credits	​	​	(341)	​	3.4	%	​	(488)	​	12.4	%	​	(44)	​	0.0	%
Change in valuation allowance	​	​	427	​	(4.2)	%	​	373	​	(9.5)	%	​	109	​	(0.1)	%
Other permanent items, net	​	​	154		(1.7)	%	​	(497)		12.8	%	​	582		(0.5)	%
Taxes and effective tax rate	​	$	2,174		(21.5)	%	$	(2,447)		62.3	%	$	(32,788)		30.4	%

​

Schedule of significant components of the Company's net deferred tax assets (liabilities)

​

​	​	​	​	​	​	​
​	​	As of December 31,
Deferred tax assets:		2022			2021
Deferred revenue	​	$	2,981	​	$	3,788
State operating loss carry forwards	​		2,831	​		3,894
Federal and foreign loss carry forwards	​		11,318	​		21,617
Accrued expenses	​		2,450	​		2,023
Accrued variable compensation	​		—	​		3,110
Deferred and stock-based compensation	​		23,634	​		24,971
Operating lease liabilities	​	​	6,272	​	​	7,204
Tax credits	​	​	—	​	​	532
Other	​		—	​		53
Deferred tax assets	​		49,486	​		67,192
Valuation allowance	​		(2,285)	​		(1,839)
Total deferred tax assets	​		47,201	​		65,353
Deferred tax liabilities:	​			​
Depreciation and amortization	​		(9,337)	​		(26,269)
Prepaid expenses	​	​	(1,256)	​	​	(1,329)
Right of use asset	​		(4,325)	​		(5,120)
Accrued variable compensation	​	​	(1,646)	​	​	—
Other	​	​	(115)	​	​	—
Total deferred tax liabilities	​		(16,679)	​		(32,718)
Net deferred tax asset	​	$	30,522	​	$	32,635
​	​	​	​	​	​	​
Classification in the consolidated balance sheets:	​	​	​	​	​	​
Deferred income tax asset	​	$	30,938	​	$	35,298
Deferred other liabilities	​	​	(416)	​	​	(2,663)
Net deferred tax asset	​	$	30,522	​	$	32,635

​

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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