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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of components of net loss before income taxes

The components of net loss before income taxes for each of the years ended December 31, 2020, 2019 and 2018 were as follows:

		Year Ended December 31,
		2020			2019			2018
Net gain (loss) before income taxes:
U.S. Domestic		$	(37,758)		$	(8,013)		$	(13,075)
Foreign			22,475			12,178			8,975
		$	(15,283)		$	4,165		$	(4,100)

Schedule of components of provision for income taxes

The components of provision for income taxes for each of the years ended December 31, 2020, 2019 and 2018 were as follows:

		Year Ended December 31,
		2020			2019			2018
Current tax provision:
Federal		$	—		$	—		$	—
State			367			147			200
Foreign			8,660			5,065			3,305
Deferred tax provision:
Federal			—			—			—
State			—			—			—
Foreign			(707)			(503)			(416)
		$	8,320		$	4,709		$	3,089

Schedule of reconciliation of the statutory U.S. federal income tax rate to the actual tax rate

A reconciliation of the statutory U.S. federal income tax rate of 21% in 2020, 2019 and 2018, respectively, to the actual tax rate is as follows:

		Year Ended December 31,
		2020			2019			2018
Tax computed at the statutory U.S. federal income tax rate		$	(3,209)		$	874		$	(903)
State and local taxes			1,073			487			433
Valuation allowances			8,564			(324)			1,296
Share-based compensation			2,287			2,002			1,453
Differences in foreign tax rate			(822)			(45)			(12)
Uncertain tax positions			684			1,494			771
Other			(257)			221			51
		$	8,320		$	4,709		$	3,089

Schedule of components of the Company's long-term deferred tax assets

		Year Ended December 31,
		2020			2019
Deferred tax assets:
Net operating loss carryforwards		$	24,543		$	4,922
Transaction loss provision			272			1,360
Property, equipment & software			31			32
Employee benefits			3,653			2,931
Gross deferred tax assets			28,499			9,245
Valuation allowance			(14,442)			(2,766)
Total deferred tax assets			14,057			6,479
Deferred tax liabilities:
Internal use software			10,373			3,516
Total deferred tax liabilities			10,373			3,516
Net deferred tax assets		$	3,684		$	2,963

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

Balance at January 1, 2019		$	2,898
Decreases for tax positions in prior years			294
Increases for tax positions related to current year			1,787
Balance at December 31, 2019		$	4,391

Balance at January 1, 2020		$	4,391
Decreases for tax positions in prior years			(1,000)
Increases for tax positions related to current year			1,685
Balance at December 31, 2020		$	5,076

Schedule of change in the Company's valuation allowance

Balance at January 1, 2018		$	1,564
Additions to valuation allowance			820
Deductions to valuation allowance			—
Balance at December 31, 2018		$	2,384

Balance at January 1, 2019		$	2,384
Additions to valuation allowance			382
Deductions to valuation allowance			—
Balance at December 31, 2019		$	2,766

Balance at January 1, 2020		$	2,766
Additions to valuation allowance			11,676
Deductions to valuation allowance			—
Balance at December 31, 2020		$	14,442

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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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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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