XML 56 R35.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of differences between the carrying amount of assets and liabilities for financial reporting purposes and their respective income tax basis | Deferred income taxes are accounted for using the balance sheet approach, which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as measured by enacted state and federal tax rates. Deferred tax assets and deferred tax liabilities are as follows:
(in thousands) | December 31, 2022 |  | December 31, 2021
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 42,716 |  |  | $ | 47,049 |
Inventory write-down | 503 |  |  | 653 |
Interest limitation | — |  |  | 453 |
Allowance for doubtful accounts | 169 |  |  | 70 |
Lease obligations | 5,643 |  |  | 5,736 |
Stock-based compensation | 5,274 |  |  | 3,985 |
Capitalized research and development costs | 6,357 |  |  | 6 |
Debt derivative liability | 1,174 |  |  | (28) |
Charitable contributions | 203 |  |  | — |
Accrued bonus | 1,010 |  |  | — |
Total deferred tax assets | 63,049 |  |  | 58,934 |
Deferred tax liabilities: |  |  |
Depreciation | (983) |  |  | (692) |
Amortization | (17) |  |  | (116) |
Right-of-use assets | (3,744) |  |  | (3,861) |
Contract liabilities | 4 |  |  | (4) |
Total deferred tax liabilities | (4,740) |  |  | (4,673) |
Net deferred tax assets | 58,309 |  |  | 54,261 |
Valuation allowance | $ | (58,309) |  |  | $ | (53,251) |
Schedule of effective income tax rate reconciliation | The Company’s effective income tax rate differs from the statutory federal income tax rate for the years ended December 31, 2022, 2021, and 2020 as follows:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Federal tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes - net of Federal benefit | 4.1 |  |  | 5.1 |  |  | 7.3 |
Permanent items and other deductions | (7.1) |  |  | (1.6) |  |  | (0.6) |
Other | (0.5) |  |  | 0.2 |  |  | — |
Valuation allowance | (17.5) |  |  | (24.7) |  |  | (27.7) |
Effective income tax rate | — | % |  | — | % |  | — | %

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration