XML 70 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes

Schedule of loss before income tax, domestic and foreign

Loss before provision for income taxes was attributed to the following jurisdictions for the years ended December 31, 2024, 2023 and 2022 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2024			2023			2022
United States	​	$	(66,278)	​	$	(70,227)	​	$	(34,854)
Foreign	​		(47,202)	​		(29,121)	​		(240)
​	​	$	(113,480)	​	$	(99,348)	​	$	(35,094)

Schedule of components of provision for income taxes

The provision for income taxes consists of the following for the years ended December 31, 2024, 2023 and 2022 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2024			2023			2022
Current:		​			​			​
Federal	​	$	—	​	$	—	​	$	—
State	​		59	​		73	​		70
Foreign	​		1,663	​		2,263	​		2,634
Total current expense	​		1,722	​		2,336	​		2,704
​	​	​	​	​	​	​	​	​	​
Deferred:	​			​			​
Federal	​		(200)	​		(278)	​		(7,712)
State	​		(126)	​		(423)	​		(191)
Foreign	​		(120)	​		(1,396)	​		(1,545)
Change in valuation allowance	​		—	​		—	​		8,983
Total deferred expense	​		(446)	​		(2,097)	​		(465)
Total provision for income taxes	​	$	1,276	​	$	239	​	$	2,239

Schedule of significant components of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2024 and 2023 are shown below (in thousands):

​

​	​	​	​	​	​	​
​	​	December 31,
​		2024			2023
Deferred tax assets:		​			​
Net operating loss carryforward	​	$	57,553	​	$	53,804
Expenses recognized for granting of options and warrants	​		5,550	​		5,654
Interest expense	​		1,588	​		1,850
Unrealized losses	​		5,211	​		3,918
Capitalized research & experimentation	​		7,026	​		5,224
R&D tax credit	​		4,062	​		3,761
Accrued expenses and reserves	​		1,954	​		806
Goodwill	​	​	9,420	​	​	3,526
Lease liability	​		9,155	​		5,076
Total deferred tax assets	​		101,519	​		83,619
Valuation allowance	​		(92,890)	​		(77,194)
​	​	$	8,629	​	$	6,425
Deferred tax liabilities:	​			​
Goodwill	​	$	—	​	$	—
Right-of-use assets	​		(8,698)	​		(4,674)
Intangibles	​		(229)	​		(2,926)
Unremitted foreign earnings	​		(1,365)	​		(985)
Total deferred tax liability	​		(10,292)	​		(8,585)
Net deferred tax liability	​	$	(1,663)	​	$	(2,160)

​

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

​

​	​	​	​	​	​	​
​	​	December 31,
​		2024			2023
Deferred tax assets	​	$	868	​	$	656
Deferred tax liabilities	​		(2,531)	​		(2,816)
Net deferred tax liability	​	$	(1,663)	​	$	(2,160)

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

The provision for (benefit from) 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,
​		2024			2023			2022
Computed tax benefit at federal statutory rate	​	$	(23,831)	​	$	(20,863)	​	$	(7,370)
State tax, net of federal benefit	​		(72)	​		(277)	​		296
Non-deductible loss on debt extinguishment	​		—	​		—	​		—
Stock compensation	​		1,397	​		1,660	​		1,881
Deemed foreign dividend income	​		675	​		1,874	​		—
R&D tax credit	​		(341)	​		(793)	​		(590)
Permanent differences and other	​		2,517	​		(172)	​		352
Transaction cost	​		(366)	​		20	​		160
Executive compensation	​		47	​		40	​		83
Rate changes	​		(1,131)	​		(471)	​		(113)
Impairment of goodwill	​	​	5,179	​	​	3,614	​	​	—
Contingencies	​		146	​		(613)	​		(1,443)
Valuation allowance	​		17,056	​		16,220	​		8,983
​	​	$	1,276	​	$	239	​	$	2,239

Schedule of reconciliation of unrecognized tax positions

A reconciliation of the beginning and ending amounts of unrecognized tax positions are as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	December 31,
​		2024			2023			2022
Unrecognized tax positions, beginning of period	​	$	2,889	​	$	3,474	​	$	4,932
Gross increase – current period tax positions	​		110	​		133	​		214
Gross decrease – prior period tax positions	​		—	​		(718)	​		(1,672)
Gross increase – prior period tax positions	​		479	​		—	​		—
Expiration of statute of limitations	​		—	​		—	​		—
Unrecognized tax positions, end of period	​	$	3,478	​	$	2,889	​	$	3,474

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ 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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ 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
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ 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 the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration