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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of income (loss) from continuing operations before income taxes

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2022			2021			2020
​	​	(in thousands)
Domestic	​	$	47,368	​	$	23,561	​	$	(10,292)
Foreign	​		3,617	​		2,119	​		1,828
Total	​	$	50,985	​	$	25,680	​	$	(8,464)

​

Schedule of components of the expense (benefit) for income taxes

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2022			2021			2020
​	​	(in thousands)
Current:	​	​	​	​	​	​	​	​	​
Federal	​	$	—	​	$	—	​	$	—
Foreign	​		1,506	​		183	​		22
State and local	​		577	​		110	​		204
Total current expense (benefit) for income taxes	​		2,083	​		293	​		226
Deferred:	​	​	​	​	​	​	​	​	​
Federal	​		(96,811)	​		119	​		136
Foreign	​		(484)	​		(507)	​		(320)
State and local	​		(20,745)	​		(263)	​		(115)
Total deferred expense (benefit) for income taxes	​		(118,040)	​		(651)	​		(299)
Total expense (benefit) for income taxes	​	$	(115,957)	​	$	(358)	​	$	(73)

​

Schedule of reconciliation of the income tax expense computed using the Federal statutory rate to actual income tax provision

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2022			2021			2020
​	​	(in thousands)
Income tax expense (benefit) at U.S. statutory rates	​	$	10,706	​	$	5,393	​	$	(1,777)
State taxes, net of U.S. federal impact	​		1,101	​		(607)	​		(121)
Effect of international operations	​		(11,149)	​		609	​		(131)
Research and development tax credit	​		(6,470)	​		(3,964)	​		726
Net change in valuation allowance	​		(104,972)	​		(2,389)	​		388
Change in accrual for unrecognized tax benefits	​		3,349	​		398	​		(6)
Share-based compensation	​	​	606	​	​	1,208	​	​	2,248
Asset impairment	​	​	—	​	​	—	​	​	728
Partial extinguishment of 2023 Notes	​	​	—	​	​	(1,090)	​	​	(2,292)
Adoption of new accounting standard	​	​	(9,295)	​	​	—	​	​	—
Other	​		167	​		84	​		164
Total expense (benefit) for income taxes	​	$	(115,957)	​	$	(358)	​	$	(73)

​

Schedule of deferred tax assets and liabilities

​

​	​	​	​	​	​	​
​	​	December 31,
​		2022			2021
​	​	(in thousands)
Deferred tax assets:	​	​	​	​	​	​
Inventory valuation		$	11,931	​	$	11,822
Net operating losses	​	​	5,647	​		38,816
Credit carry forwards	​	​	59,988	​	​	57,810
Warranty and installation accruals	​	​	1,862	​		1,730
Share-based compensation	​	​	5,267	​		4,033
Customer deposits and deferred revenue	​	​	24,504	​	​	9,908
Operating leases	​	​	8,349	​	​	8,464
Research and experimental ("R&E") capitalization	​	​	19,071	​	​	—
Other	​	​	6,553	​		5,880
Total deferred tax assets	​	​	143,172	​		138,463
Valuation allowance	​	​	(11,083)	​		(116,054)
Net deferred tax assets	​	​	132,089	​		22,409
​	​	​	​	​	​	​
Deferred tax liabilities:	​	​	​	​	​	​
Purchased intangible assets	​	​	8,724	​		6,633
Convertible Senior Notes	​	​	(39)	​	​	10,018
Operating leases	​	​	5,994	​	​	6,539
Depreciation	​	​	2,346	​		2,372
Total deferred tax liabilities	​	​	17,025	​		25,562
Net deferred taxes		$	115,064	​	$	(3,153)

​

Schedule of reconciliation of beginning and ending amount of uncertain tax positions

​

​	​	​	​	​	​	​	​	​	​
​	​	December 31,
​		2022			2021			2020
​	​	(in thousands)
Balance at beginning of year	​	$	12,761	​	$	12,363	​	$	12,369
Additions for tax positions related to current year	​		4,180	​		2,642	​		1,217
Additions for tax positions related to prior years	​		—	​		50	​		47
Reductions for tax positions related to prior years	​		(731)	​		(1,196)	​		(1,166)
Reductions due to the lapse of the statute of limitations	​		—	​		—	​		—
Settlements	​		(100)	​		(1,098)	​		(104)
Balance at end of year	​	$	16,110	​	$	12,761	​	$	12,363

​

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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 for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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