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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Taxes |
Schedule of income before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, |
​ |  | 2021 |  | 2020 |  | 2019 |
​ | ​ | (in thousands) |
United States | ​ | $ | 116,380 | ​ | $ | 51,934 | ​ | $ | 18,148 | ​
Foreign | ​ |  | 4,048 | ​ |  | 3,952 | ​ |  | 2,774 | ​
Income before income taxes | ​ | $ | 120,428 | ​ | $ | 55,886 | ​ | $ | 20,922 | ​
Schedule of provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, |
​ |  | 2021 |  | 2020 |  | 2019 |
​ | ​ | (in thousands) |
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​
State | ​ |  | 82 | ​ |  | 157 | ​ |  | 5 | ​
Foreign | ​ |  | 1,439 | ​ |  | 1,062 | ​ |  | 579 | ​
Total current | ​ |  | 1,521 | ​ |  | 1,219 | ​ |  | 584 | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 20,521 | ​ | ​ | 4,594 | ​ | ​ | 3,962 | ​
State | ​ | ​ | 406 | ​ | ​ | 295 | ​ | ​ | (855) | ​
Foreign | ​ |  | (670) | ​ |  | (204) | ​ |  | 197 | ​
Total deferred | ​ |  | 20,257 | ​ |  | 4,685 | ​ |  | 3,304 | ​
Income tax provision | ​ | $ | 21,778 | ​ | $ | 5,904 | ​ | $ | 3,888 | ​
Schedule of reconciliation of income taxes at the United States Federal statutory rate to the effective income tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, |
​ |  | 2021 |  | 2020 |  | 2019 |
​ | ​ | (in thousands) |
Income taxes at the United States statutory rate | ​ | $ | 25,290 | ​ | $ | 11,736 | ​ | $ | 4,393 | ​
State income taxes | ​ |  | 387 | ​ |  | 226 | ​ |  | 78 | ​
Unrecognized tax benefits | ​ |  | (222) | ​ |  | — | ​ |  | (251) | ​
Effect of change in valuation allowance | ​ |  | (1,443) | ​ |  | 806 | ​ |  | 1,492 | ​
Foreign income tax rate differentials | ​ |  | 152 | ​ |  | 181 | ​ |  | 129 | ​
Stock based compensation | ​ |  | (3,658) | ​ |  | (2,803) | ​ |  | (1,257) | ​
Credit expirations | ​ | ​ | 2,342 | ​ | ​ | (14) | ​ | ​ | 894 | ​
Rate change | ​ | ​ | 159 | ​ | ​ | 151 | ​ | ​ | 194 | ​
Credit generation | ​ | ​ | (3,096) | ​ | ​ | (2,473) | ​ | ​ | (3,124) | ​
Discrete items, net | ​ | ​ | 72 | ​ | ​ | (147) | ​ | ​ | 18 | ​
Previously unrecognized tax benefit | ​ | ​ | — | ​ | ​ | (4,063) | ​ | ​ | — | ​
GILTI inclusion | ​ | ​ | 301 | ​ | ​ | 732 | ​ | ​ | 566 | ​
Other, net | ​ |  | 1,494 | ​ |  | 1,572 | ​ |  | 756 | ​
Income tax provision | ​ | $ | 21,778 | ​ | $ | 5,904 | ​ | $ | 3,888 | ​
Schedule of significant components of current and long-term deferred income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, |
​ | ​ | 2021 | ​ | 2020 |
​ |  | (in thousands) |
Deferred tax assets: | ​ | ​ |
Federal net operating loss carryforwards | ​ | $ | 5,635 | ​ | $ | 23,193 | ​
State net operating loss carryforwards | ​ |  | 727 | ​ |  | 969 | ​
Foreign net operating loss carryforwards | ​ |  | 371 | ​ |  | 529 | ​
Federal tax credit carryforwards | ​ |  | 18,840 | ​ |  | 19,377 | ​
State tax credit carryforwards | ​ |  | 8,138 | ​ |  | 7,358 | ​
Property, plant and equipment | ​ |  | 8,967 | ​ |  | 9,501 | ​
Operating lease liability | ​ | ​ | 792 | ​ | ​ | 348 | ​
Accrued compensation | ​ | ​ | 280 | ​ | ​ | 16 | ​
Inventories | ​ | ​ | 1,729 | ​ | ​ | 2,271 | ​
Stock compensation | ​ |  | 1,401 | ​ |  | 1,566 | ​
Warranty | ​ |  | 1,471 | ​ |  | 982 | ​
Deferred revenue | ​ | ​ | 836 | ​ | ​ | 1,032 | ​
Capitalized research and development costs | ​ | ​ | — | ​ | ​ | 5,785 | ​
Gross deferred tax assets | ​ | ​ | 49,187 | ​ | ​ | 72,927 | ​
Valuation allowance | ​ |  | (7,689) | ​ |  | (9,133) | ​
Net deferred tax assets | ​ | ​ | 41,498 | ​ | ​ | 63,794 | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Intangible assets | ​ |  | (72) | ​ |  | (80) | ​
Right-of-use asset | ​ | ​ | (4,918) | ​ | ​ | (4,756) | ​
Other | ​ |  | (1,054) | ​ |  | (1,107) | ​
Gross deferred tax liabilities | ​ |  | (6,044) | ​ |  | (5,943) | ​
Deferred taxes, net | ​ | $ | 35,454 | ​ | $ | 57,851 | ​
Schedule of reconciliation of the beginning and ending balance of unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | Year ended December 31, |
​ | ​ | 2021 | ​ | 2020 |  | 2019 |
​ | ​ | (in thousands) | ​
Balance at beginning of year | ​ | $ | 10,044 | ​ | $ | 9,799 | ​ | $ | 9,127 | ​
(Decrease) / increase in unrecognized tax benefits as a result of tax positions taken during a prior period | ​ |  | (546) | ​ |  | (502) | ​ |  | 215 | ​
Reductions to unrecognized tax benefits as a result of a lapse of the applicable statute of limitation | ​ | ​ | (472) | ​ | ​ | — | ​ | ​ | (334) | ​
Increases in unrecognized tax benefits as a result of tax positions taken during the current period | ​ |  | 935 | ​ |  | 747 | ​ |  | 791 | ​
Balance at end of year | ​ | $ | 9,961 | ​ | $ | 10,044 | ​ | $ | 9,799 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recorded as other long-term liability | ​ | $ | — | ​ | $ | 472 | ​ | $ | 409 | ​
Recorded as a decrease in deferred tax assets | ​ |  | 9,961 | ​ |  | 9,572 | ​ |  | 9,390 | ​
Balance at end of year | ​ | $ | 9,961 | ​ | $ | 10,044 | ​ | $ | 9,799 | ​

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