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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of income before income tax, domestic and foreign

Income (loss) before provision for income taxes was attributed to the following jurisdictions for the years ended December 31, 2020 and 2019 (in thousands):

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2020			2019
United States	​	$	(32,873)	​	$	(18,321)
Foreign	​		135	​		51
​	​	$	(32,738)	​	$	(18,270)

Schedule of components of provision (benefit) for income taxes

The provision (benefit) for income taxes consists of the following for the years ended December 31, 2020 and 2019 (in thousands):

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2020			2019
Current:		​			​
Federal	​	$	11	​	$	—
State	​		110	​		41
Foreign	​		361	​		—
Total current expense	​		482	​		41
​	​	​	​	​	​	​
Deferred:	​		​	​		​
Federal	​		(8,245)	​		(2,125)
State	​		(832)	​		5
Foreign	​		(738)	​		9
Change in valuation allowance	​		9,288	​		2,132
Total deferred expense	​		(527)	​		21
Total provision (benefit) for income taxes	​	$	(45)	​	$	62

Schedule of provision (benefit) for income taxes differs from that computed using the federal statutory rate applied to loss before provision for income taxes

The provision (benefit) for income taxes differs from that computed using the federal statutory rate applied to loss before provision for income taxes as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	December 31,
​		2020			2019
Computed tax benefit at federal statutory rate	​	$	(6,875)	​	$	(3,837)
State tax, net of federal benefit	​		(1,077)	​		(610)
Stock compensation	​		(2,683)	​		480
Interest expense	​	​	—	​	​	286
Permanent differences and other	​		(375)	​		(126)
Transaction cost	​	​	528	​	​	—
Executive compensation	​	​	609	​	​	985
Rate changes	​	​	408	​	​	—
Contingencies	​		112	​		753
Valuation allowance	​		9,308	​		2,131
​	​	$	(45)	​	$	62

Schedule of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2020 and 2019 are shown below (in thousands):

​

​	​	​	​	​	​	​
​	​	December 31,
​		2020			2019
Deferred tax assets:		​
Net operating loss carryforward	​	$	27,106	​	$	17,031
Expenses recognized for granting of options and warrants	​		4,119	​		3,816
Accrued expenses and reserves	​		913	​		383
Lease liability	​	​	2,740	​	​	1,217
Total deferred tax assets	​	​	34,878	​	​	22,447
Valuation allowance	​		(32,913)	​		(21,220)
​	​	$	1,965	​	$	1,227
Deferred tax liabilities:	​	​	​	​	​	​
Goodwill	​	$	(529)	​	$	(110)
Right-of-use assets	​	​	(2,631)	​	​	(1,138)
Intangibles	​	​	(4,253)	​	​	​
Total deferred tax liability	​	​	(7,413)	​	​	(1,248)
Net deferred tax liability	​	$	(5,448)	​	$	(21)

​

Our net deferred tax liability as presented in our consolidated balance sheet consist of the following items (in thousands):

​	​	​	​	​	​	​
​	​	December 31,
​		2020			2019
Deferred tax assets	​	$	434	​	$	—
Deferred tax liabilities	​		(5,882)	​		(21)
Net deferred tax liability	​	$	(5,448)	​	$	(21)

Schedule of unrecognized tax benefits, excluding amounts pertaining to examined tax returns

A reconciliation of the beginning and ending amounts of unrecognized tax benefits (“UTBs”) are as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	December 31,
​		2020			2019
UTBs, beginning of period	​	$	963	​	$	48
Gross increase – current period tax positions	​		358	​		239
Gross decrease – prior period tax positions	​		(113)	​		—
Gross increase – prior period tax positions	​		64	​		676
Expiration of statute of limitations	​		—	​		—
UTBs, end of period	​	$	1,272	​	$	963

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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 of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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