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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

		Year Ended
		December 31,
		2023				2022				2021
		(in thousands)
Federal:
Current		$	4			$	(579	)		$	(511	)
Deferred			8				4,667				701
Total Federal			12				4,088				190
State and Local:
Current			(539	)			(762	)			769
Deferred			17				1,602				346
Total State and Local			(522	)			840				1,115
Foreign
Current			848				255				1,051
Deferred			—				(90	)			72
Total Foreign			848				165				1,123
Total		$	338			$	5,093			$	2,428

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the provision (benefit) for income taxes and the expected provision (benefit) for income taxes at the U.S. federal statutory rate is as follows:

		Year Ended
		December 31,
		2023				2022				2021
		(in thousands)
U.S. Operations		$	(20,116	)		$	(53,947	)		$	15,146
Foreign Operations			2,775				(506	)			5,003
Income (loss) before income taxes			(17,341	)			(54,453	)			20,149
Federal statutory rate			21	%			21	%			21	%
Provision (benefit) for income taxes at federal statutory rate			(3,642	)			(11,435	)			4,231
State taxes, net of federal benefit			(385	)			(2,098	)			812
Foreign tax rate differential			135				90				(60	)
Change in valuation allowance			2,850				18,353				—
Excess tax benefit recognized			287				(232	)			(2,159	)
Foreign Derived Intangible Income			—				—				(976	)
Foreign tax credit			(96	)			—				(770	)
Research and development credit			(558	)			(400	)			(878	)
Global intangible low taxed income			858				325				530
Change in unrecognized tax benefits			(330	)			(382	)			673
Section 162(m)			1,237				395				634
Other			(18	)			477				391
Provision for income taxes		$	338			$	5,093			$	2,428

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s deferred tax assets (liabilities) are as follows:

		December 31, 2023				December 31, 2022
		(in thousands)
Allowance for doubtful accounts		$	4			$	4
Fixed assets			(764	)			(897	)
Goodwill			(1,402	)			(1,268	)
Employee benefits			2,789				2,254
Intangible assets			1,614				1,573
Inventories			1,434				2,846
Lease liability			1,977				2,227
Net operating loss			8,372				7,354
Research and development expenses			6,154				3,835
Right of use asset			(1,754	)			(2,010	)
Sales reserves			1,524				1,501
Unrecognized tax benefits			311				470
Other			1,376				852
			21,635				18,741
Valuation allowance			(22,094	)			(19,244	)
Net deferred tax assets (liabilities)		$	(459	)		$	(503	)

Schedule of Unrecognized Tax Benefits

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

		December 31, 2023				December 31, 2022
		(in thousands)
Gross unrecognized tax benefit, beginning of period		$	3,002			$	3,415
Additions based on tax positions related to the current year			128				150
Additions related to tax positions in a prior year			—				158
Settlements related to tax positions in a prior period			(32	)			(321	)
Decreases based on tax positions in a prior period			(814	)			(400	)
Gross unrecognized tax benefit, end of period		$	2,284			$	3,002

Summary of Income Tax Examinations

The Company files U.S., state, and foreign income tax returns in jurisdictions with various statutes of limitations. Below is a summary of the filing jurisdictions and open tax years:

		Open Years
U.S. Federal		2020 - 2022
U.S. State and Local		2019 - 2022
Non-U.S.		2020 - 2022

On August 16, 2022, the Inflation Reduction Act was signed into law. The Inflation Reduction Act includes various tax provisions, which are effective for tax years beginning on or after January 1, 2023. For tax years beginning after December 31, 2021, the Tax Cuts & Jobs Act of 2017 eliminated the option to deduct research and development expenditures as incurred and instead required taxpayers to capitalize and amortize them over five or 15 years beginning in 2022. The Company included the impact of the research and development expenditures in its December 31, 2023 and 2022 tax expense. The Inflation Reduction Act includes a 1% excise tax on publicly traded US corporations for the value of its stock repurchased after December 31, 2022. The Company did not incur excise tax on stock repurchased for the year ended December 31, 2023. The Company will continue to monitor possible future impact of changes in tax legislation.

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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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