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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Components of Income (Loss) Before Provision for Income Taxes | The components of the Company’s income (loss) before provision for income taxes are as follows:
|  | Years ended December 31, |
(amounts in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
United States |  | $ | 7,621 |  |  | $ | (6,464 | ) |  | $ | 22,553 |
Foreign |  |  | 1,038 |  |  |  | 1,184 |  |  |  | 1,719 |
Income (loss) before provision for income taxes |  | $ | 8,659 |  |  | $ | (5,280 | ) |  | $ | 24,272 |
Components of Provisions for Income Taxes | The provision for income taxes consists of the following:
|  | Years ended December 31, |
(amounts in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Current tax expense (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | (74 | ) |  | $ | (330 | )
State |  |  | 271 |  |  |  | 198 |  |  |  | 136 |
Foreign |  |  | 266 |  |  |  | 381 |  |  |  | 560 |
Total current tax expense |  |  | 537 |  |  |  | 505 |  |  |  | 366 |
Deferred tax expense (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 10,263 |  |  |  | 309 |  |  |  | 3,497 |
State |  |  | 4,194 |  |  |  | (193 | ) |  |  | (396 | )
Foreign |  |  | (22 | ) |  |  | (72 | ) |  |  | (145 | )
Total deferred tax expense |  |  | 14,435 |  |  |  | 44 |  |  |  | 2,956 |
Interest and penalties |  |  | 20 |  |  |  | — |  |  |  | — |
Provision for income taxes |  | $ | 14,992 |  |  | $ | 549 |  |  | $ | 3,322 |
Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities consist of the following:
(amounts in thousands) |  | As of December 31, |
Deferred tax assets (liabilities) |  | 2021 |  |  | 2020 |
Accrued expenses |  | $ | 10,575 |  |  | $ | 8,346 |
Net operating loss and credit carryforward |  |  | 21,138 |  |  |  | 20,145 |
Allowance, reserves and other |  |  | 2,668 |  |  |  | 1,381 |
Stock-based compensation |  |  | 2,665 |  |  |  | 3,379 |
Lease liability |  |  | 6,507 |  |  |  | 2,427 |
Deferred tax assets |  |  | 43,553 |  |  |  | 35,678 |
Property, plant, and equipment |  |  | (7,664 | ) |  |  | (4,805 | )
Intangible amortization |  |  | (12,389 | ) |  |  | (14,292 | )
Right-of-use asset |  |  | (6,077 | ) |  |  | (2,139 | )
Deferred tax liabilities |  |  | (26,130 | ) |  |  | (21,236 | )
Valuation allowance |  |  | (17,423 | ) |  |  | — |
Total |  | $ | — |  |  | $ | 14,442 |
Reconciliation of the Federal Statutory Income Tax Rate to the Effective Income Tax Rate | Reconciliation of the federal statutory income tax rate to the effective income tax rate for the years ended December 31, 2021, 2020 and 2019 is as follows:
|  | Years ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
U.S. Statutory rate |  |  | 21.00 | % |  |  | 21.00 | % |  |  | 21.00 | %
State income taxes, net of federal benefit |  |  | -1.39 | % |  |  | -3.86 | % |  |  | 3.70 | %
Stock-based compensation |  |  | -21.72 | % |  |  | -16.80 | % |  |  | -0.81 | %
R&D credit, net of reserve |  |  | -5.95 | % |  |  | -8.11 | % |  |  | -8.97 | %
Change in fair value |  |  | -28.19 | % |  |  | -4.19 | % |  |  | 0.70 | %
Nondeductible compensation |  |  | 7.04 | % |  |  | — |  |  |  | — |
Valuation allowance |  |  | 201.69 | % |  |  | — |  |  |  | — |
Other |  |  | 0.63 | % |  |  | 1.57 | % |  |  | -1.94 | %
Effective income tax rate |  |  | 173.11 | % |  |  | -10.39 | % |  |  | 13.68 | %
Summary of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:
(amounts in thousands) |  | December 31, |
Reconciliation of liability for unrecognized tax benefits |  | 2021 |  |  | 2020 |  |  | 2019 |
Balance at beginning of period |  | $ | 1,932 |  |  | $ | 1,889 |  |  | $ | 1,294 |
Additions based on tax positions related to current year |  |  | 146 |  |  |  | 70 |  |  |  | 595 |
Reductions based on tax positions related to prior year |  |  | — |  |  |  | (181 | ) |  |  | — |
Additions based on tax positions related to prior year |  |  | — |  |  |  | 154 |  |  |  | — |
Balance at end of period |  | $ | 2,078 |  |  | $ | 1,932 |  |  | $ | 1,889 |

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