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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Earnings before Income Taxes

U.S. and foreign (loss) earnings before income taxes are as follows:

			Years Ended December 31,
			2021						2020						2019
			(In thousands)
U.S.			$	(54,085)					$	(52,007)					$	(76,052)
Foreign			2,146						2,207						820
Loss before income taxes			$	(51,939)					$	(49,800)					$	(75,232)

Schedule of Components of Income Tax Provision

The components of the income tax provision are as follows:

			December 31,
			2021						2020						2019
			(In thousands)
Current income tax provision:
Federal			$	52					$	—					$	—
State			85						64						39
Foreign			761						561						242
Current income tax provision			898						625						281
Deferred income tax (benefit) provision:
Federal			(20)						270						—
State			(5)						—						—
Foreign			(45)						(67)						64
Deferred income tax (benefit) provision			(70)						203						64
Income tax provision			$	828					$	828					$	345

Schedule of Deferred Tax Assets and Liabilities

The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are as follows:

			December 31,
			2021						2020
			(In thousands)
Deferred tax assets:
Net operating loss carryforwards			$	33,897					$	31,721
Tax credit carryforwards			9,066						6,903
Intangible assets with definite lives			2,247						3,992
Disallowed interest carryforwards			227						3,705
Stock-based compensation			5,467						3,013
Other			8,309						5,477
Total deferred tax assets			59,213						54,811
Less: valuation allowance			(52,023)						(51,689)
Net deferred tax assets			7,190						3,122
Deferred tax liabilities:
Prepaid expenses			(3,835)						(2,345)
Leasehold improvements and equipment			(299)						(415)
Right-of-use assets			(2,561)						(343)
Withholding taxes			(506)						(270)
Total deferred tax liabilities			(7,201)						(3,373)
Net deferred tax liability			$	(11)					$	(251)

Composition of Net Operating Loss Carryforwards

The composition of Vimeo's NOLs as of December 31, 2021 is as follows:

			Federal						State						Foreign						Total
			(In thousands)
Subject to expiration (a)			$	27,324					$	53,867					$	—					$	81,191
Indefinite carryforward (b)			65,765						7,466						46,938						120,169
Total NOLs (c)			$	93,089					$	61,333					$	46,938					$	201,360

____________________

(a)    Federal and state NOLs will expire at various times from 2033 through 2037 and 2022 through 2041, respectively.

(b)    All indefinite carryforward federal NOLs are subject to the Tax Cuts and Jobs Act 80% taxable income limitation.

(C)    Federal and state NOLs of $13.6 million and $12.9 million, respectively, are subject to limitations under IRC Section 382, separate return limitations, and applicable law.

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax provision to the amounts computed by applying the statutory federal income tax rate to loss before income taxes is shown as follows:

			Years Ended December 31,
			2021						2020						2019
			(In thousands)
Income tax benefit at the federal statutory rate of 21%			$	(10,907)					$	(10,458)					$	(15,799)
State income taxes, net of effect of federal tax benefit			(138)						(159)						31
Change in valuation allowance			16,883						14,711						16,464
Stock-based compensation			(4,041)						(2,979)						299
Research credit			(2,163)						(1,439)						(1,049)
Transaction costs			698						573						2
Other, net			496						579						397
Income tax provision			$	828					$	828					$	345

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

			Years Ended December 31,
			2021						2020						2019
			(In thousands)
Balance at beginning of period			$	1,921					$	1,475					$	1,026
Additions based on tax positions related to prior years			—						538						—
Settlements			(329)						(645)						—
Additions based on tax positions related to the current year			927						553						449
Balance at end of period			$	2,519					$	1,921					$	1,475

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