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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES

Schedule of taxable income by domestic and foreign subsidiaries

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2023	​	2022	​	2021
Domestic	​	($ 16,522)	​	$ 1,029	​	$ 32,804
Foreign	​	3,087	​	3,559	​	929
Total	​	($ 13,435)	​	$ 4,588	​	$ 33,733

Schedule of Income Tax Expense (Benefit)

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2023	​	2022	​	2021
Current:	​	​	​	​	​	​
Federal	​	$ 305	​	$ -	​	$ -
State	​	795	​	737	​	456
Foreign	​	1,788	​	2,312	​	1,650
Total current income tax provision	​	2,888	​	3,049	​	2,106
Deferred	​	​	​	​	​	​
Federal	​	(4,995)	​	(11,444)	​	(41,599)
State	​	(1,494)	​	(1,674)	​	(6,574)
Foreign	​	(861)	​	(767)	​	(1,420)
Total deferred income tax benefit	​	(7,350)	​	(13,885)	​	(49,593)
Total provision (benefit) for income taxes	​	($ 4,462)	​	($ 10,836)	​	($ 47,487)

Federal Statutory Rate Reconciliation

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2023	​	2022	​	2021
Statutory tax rate	​	21.00%	​	21.00%	​	21.00%
State taxes	​	0.60%	​	17.52%	​	5.22%
Permanent differences	​	1.03%	​	(0.40)%	​	(0.08)%
Research & Development Credit	​	15.48%	​	(49.64)%	​	(6.04)%
Unrecognized tax benefit	​	(3.87)%	​	12.41%	​	1.51%
Share-based compensation	​	24.64%	​	(265.42)%	​	(107.20)%
Sec. 162m compensation limitation	​	(21.23)%	​	47.85%	​	8.12%
Foreign tax rate differential	​	(1.02)%	​	(1.65)%	​	0.27%
Valuation allowance	​	-%	​	-%	​	(65.54)%
Prior year true up items	​	(3.29)%	​	(19.99)%	​	(0.63)%
Other net	​	(0.13)%	​	2.13%	​	2.65%
Total	​	33.21%	​	(236.19)%	​	(140.72)%

Schedule of Deferred Tax Assets

​

​	​	​	​	​
​		December 31, 2023	​	December 31, 2022
Deferred tax assets:	​	​	​	​
Net operating loss carryforward	​	$ 34,028	​	$ 41,192
Accruals and Reserves	​	3,127	​	3,129
Goodwill and Intangibles	​	1,782	​	257
Research and Experimental Costs	​	14,757	​	8,401
Research and Development Credit	​	4,632	​	3,826
Share-based compensation	​	15,872	​	11,871
Total gross deferred tax assets	​	74,198	​	68,676
Deferred tax liabilities:	​	​	​	​
Property and equipment	​	(2,779)	​	(3,467)
Intangibles/Goodwill	​	-	​	(656)
Right of use lease asset	​	(3)	​	(519)
Other	​	(94)	​	(55)
Net deferred tax assets	​	$ 71,322	​	$ 63,979

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

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2023	​	2022	​	2021
Unrecognized tax benefits - beginning of year	​	$ 1,309	​	$ 530	​	$ -
Gross increase for tax positions of prior years	​	63	​	199	​	325
Gross increase for tax positions of current year	​	532	​	580	​	205
Unrecognized tax benefits - end of year	​	$ 1,904	​	$ 1,309	​	$ 530

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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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