v3.22.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Benefit

Total income tax benefit for the years ended December 31, 2022, 2021 and 2020 was allocated as follows:

						2022						2021						2020
Total tax expense (benefit)						$	(4,947)					$	(1,128)					$	(723)

The components of income tax benefit for the years ended December 31, 2022, 2021 and 2020 are as follows:

			2022						2021						2020
Current:
Federal			$	—					$	—					$	—
State			68						—						—
Foreign			17						—						—
			85						—						—
Deferred:
Federal			$	—					$	—					$	—
State			—						—						—
Foreign			(2,018)						(1,128)						(723)
Decrease in valuation allowance			(3,014)						—						—
Total income tax expense (benefit)			$	(4,947)					$	(1,128)					$	(723)

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, 2022, 2021 and 2020 loss before taxes of the Company consists of the following:

						2022						2021						2020
Domestic						$	6,451					$	(9,232)					$	(28,756)
Foreign						(10,140)						(8,156)						(4,911)
Total						$	(3,689)					$	(17,388)					$	(33,667)

Schedule of Reconciliation Between the Effective Tax Rate and the Statutory Tax Rate

The reconciliation between the effective tax rate and the statutory tax rate is as follows:

			December 31,
			2022						2021						2020
Federal statutory rate			21.0		%				21.0		%				21.0		%
State statutory rate, net of federal benefit			(6.3)		%				2.0		%				1.8		%
Effect of foreign rates different from statutory			6.4		%				(0.1)		%				0.1		%
Change in state rate			0.9		%				(1.3)		%				(2.5)		%
Excess tax benefits from stock plans			9.6		%				7.5		%				0.6		%
Nondeductible/nontaxable or other items			(22.1)		%				11.9		%				0.5		%
Unborn foreign tax deduction			6.8		%				(1.5)		%				4.0		%
US benefit of foreign branches			64.4		%				—		%				—		%
Nondeductible executive compensation			(4.4)		%				—		%				—		%
Change in valuation allowance			57.8		%				(33.1)		%				(23.4)		%
Income tax (expense) benefit			134.1		%				6.3		%				2.1		%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities consisted of the following at December 31, 2022 and 2021:

			2022						2021
Deferred tax assets:
Inventories, net			$	5,804					$	4,206
Stock based compensation			2,534						2,454
Loss carryforwards			38,443						35,421
Credit carryforwards			176						176
Interest carryforward			520						338
Other			787						444
Total deferred tax assets			48,264						43,039
Valuation allowance			(36,778)						(38,911)
Net deferred tax assets			11,486						4,128
Deferred tax liabilities:
Intangibles			(15,737)						(7,518)
Property, plant and equipment			(1,703)						(1,238)
Total deferred tax liabilities			(17,440)						(8,756)
Foreign currency translation impact			—						(143)
Deferred tax assets (liabilities), net			$	(5,954)					$	(4,771)

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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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