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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of Loss Before Income Taxes

The components of loss before income taxes are as follows (in thousands):

		Year Ended December 31,				Six Months Ended December 31,				Year Ended June 30,
		2019				2018				2018				2017
U.S. operations		$	(56,866	)		$	(44,804	)		$	(53,000	)		$	(17,566	)
Non-U.S. operations			73				84				(171	)			(919	)
Loss before income taxes		$	(56,793	)		$	(44,720	)		$	(53,171	)		$	(18,485	)

Difference Between Expected Income Tax Benefit and Actual Income Tax Benefit

The difference between the Company’s expected income tax benefit, as computed by applying the blended statutory U.S. federal tax rate of 21% for the year ended December 31, 2019, 21% for the six months ended December 31, 2018, 27.5% for fiscal 2018 and 34% for fiscal 2017 to loss before income taxes, and actual income tax benefit is reconciled in the following table (in thousands):

		Year Ended December 31,				Six Months Ended December 31,				Year Ended June 30,
		2019				2018				2018				2017
Income tax benefit at statutory rate		$	(11,927	)		$	(9,391	)		$	(14,622	)		$	(6,284	)
State income taxes, net of federal benefit			(3,685	)			(1,657	)			(1,552	)			(928	)
Non-U.S. income tax rate differential			374				186				(66	)			(121	)
Change in fair value of derivative			—				3,900				7,227				—
Change in federal tax rate			—				—				14,673				—
Research and development tax credits			(150	)			(231	)			(284	)			(242	)
Permanent items			55				—				(15	)			(9	)
Changes in valuation allowance			15,608				7,166				(5,385	)			7,489
Other, net			(275	)			27				24				95
Income tax benefit		$	—			$	—			$	—			$	—

Significant Components of Deferred Income Taxes

The significant components of deferred income taxes are as follows (in thousands):

		December 31,				December 31,
		2019				2018
Deferred tax assets:
Net operating loss carryforwards		$	66,400			$	53,259
Deferred revenue			8				70
Lease liability			923				0
Stock-based compensation			5,805				4,788
Tax credits			3,687				3,696
Other			1,473				682
Total deferred tax assets			78,296				62,495
Deferred tax liabilities:
Intangible assets			7,559				8,207
Right-of-use assets			841				—
Total deferred tax liabilities			8,400				8,207
Deferred tax assets, net			69,896				54,288
Valuation allowance			69,896				54,288
Total deferred tax liability		$	—			$	—

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- References

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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