XML 64 R47.htm IDEA: XBRL DOCUMENT
v3.23.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Taxes |
Schedule of U.S. and international components of income (loss) before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(Thousands) |  | 2022 |  | 2021 |  | 2020
U.S. | ​ | ​ | (51,607) | ​ | ​ | (28,573) | ​ | ​ | (147,196)
International | ​ | ​ | (3,743) | ​ | ​ | 3,897 | ​ | ​ | 786
Loss before income taxes | ​ | $ | (55,350) | ​ | $ | (24,676) | ​ | $ | (146,410)
​
Schedule of income tax expense (benefit) component | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(Thousands) |  | 2022 |  | 2021 |  | 2020
Current expense (benefit) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | — | ​ | $ | — | ​ | $ | —
State | ​ | ​ | 529 | ​ | ​ | 179 | ​ | ​ | 201
Foreign | ​ | ​ | 1,619 | ​ | ​ | (99) | ​ | ​ | 510
Total current | ​ | ​ | 2,148 | ​ | ​ | 80 | ​ | ​ | 711
Deferred expense (benefit) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 173 | ​ | ​ | (4,617) | ​ | ​ | (15,230)
State | ​ | ​ | 81 | ​ | ​ | (901) | ​ | ​ | (3,003)
Foreign | ​ | ​ | (2,291) | ​ | ​ | 2,070 | ​ | ​ | (23)
Total deferred | ​ | ​ | (2,037) | ​ | ​ | (3,448) | ​ | ​ | (18,256)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense (benefit) | ​ | $ | 111 | ​ | $ | (3,368) | ​ | $ | (17,545)
​
Schedule of reconciliation of income tax expense benefit | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(Thousands) |  | 2022 |  | 2021 |  | 2020
Income tax expense (benefit) at US statutory income tax rate | ​ | $ | (11,624) | ​ | $ | (5,182) | ​ | $ | (30,746)
State income tax expense (benefit), net of federal benefit | ​ | ​ | (1,507) | ​ | ​ | (773) | ​ | ​ | (2,844)
Foreign rate differential | ​ | ​ | (15) | ​ | ​ | (304) | ​ | ​ | (179)
Change in fair value of warrants | ​ | ​ | 6,232 | ​ | ​ | — | ​ | ​ | —
Goodwill impairment | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 16,624
Global intangible low-taxed income ("GILTI") inclusion | ​ | ​ | — | ​ | ​ | 1,095 | ​ | ​ | 22
Transaction costs | ​ | ​ | — | ​ | ​ | 260 | ​ | ​ | 507
Other permanent differences | ​ | ​ | 323 | ​ | ​ | 78 | ​ | ​ | 136
Step-up on C Corp conversion | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,578)
Change in valuation allowance | ​ | ​ | 7,319 | ​ | ​ | 632 | ​ | ​ | 513
Provision to return adjustments | ​ | ​ | (320) | ​ | ​ | (166) | ​ | ​ | —
Effect of change in foreign tax rates | ​ | ​ | (552) | ​ | ​ | 1,181 | ​ | ​ | —
Other | ​ | ​ | 255 | ​ | ​ | (189) | ​ | ​ | —
Income tax expense (benefit) | ​ | $ | 111 | ​ | $ | (3,368) | ​ | $ | (17,545)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective tax rate | ​ | ​ | (0.20%) | ​ | ​ | 13.6% | ​ | ​ | 12.0%
​
Schedule of deferred income tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Thousands) |  | December 31, 2022 |  | December 31, 2021
Deferred tax assets | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and reserves | ​ | $ | 2,300 | ​ | $ | 3,501
Interest limitation | ​ | ​ | 16,256 | ​ | ​ | 8,884
Net operating losses | ​ | ​ | 13,483 | ​ | ​ | 8,850
Transaction expenses | ​ | ​ | 206 | ​ | ​ | 79
Inventories | ​ | ​ | 1,449 | ​ | ​ | —
Stock compensation | ​ | ​ | 794 | ​ | ​ | —
Derivatives | ​ | ​ | 552 | ​ | ​ | —
Operating lease liabilities | ​ | ​ | 2,430 | ​ | ​ | —
Other | ​ | ​ | 269 | ​ | ​ | 711
Total | ​ | ​ | 37,739 | ​ | ​ | 22,025
Valuation allowance | ​ | ​ | (8,464) | ​ | ​ | (1,145)
Total deferred tax assets, net | ​ | $ | 29,275 | ​ | $ | 20,880
Deferred tax liabilities | ​ | ​ | ​ | ​ | ​ | ​
Property, plant and equipment | ​ | $ | (13,334) | ​ | $ | (10,581)
Intangible assets | ​ | ​ | (27,358) | ​ | ​ | (29,221)
Derivatives | ​ | ​ | — | ​ | ​ | (4,451)
Inventories | ​ | ​ | — | ​ | ​ | (2,035)
Right-of-use assets | ​ | ​ | (2,403) | ​ | ​ | —
Other | ​ | ​ | (535) | ​ | ​ | (107)
Total | ​ | ​ | (43,630) | ​ | ​ | (46,395)
Net deferred tax liability | ​ | $ | (14,355) | ​ | $ | (25,515)
​
Summary of valuation allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Thousands) |  | December 31, 2022 |  | December 31, 2021
Beginning balance | ​ | $ | 1,145 | ​ | $ | 513
Additions | ​ | ​ | 7,319 | ​ | ​ | 632
Ending Balance | ​ | $ | 8,464 | ​ | $ | 1,145

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 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
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

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + 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 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration