XML 62 R35.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes are as follows for the years ended December 31, 2020, 2019, and 2018 (in thousands):
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State and local |  |  | 84 |  |  |  | 168 |  |  |  | 229 |
Total current tax expense |  |  | 84 |  |  |  | 168 |  |  |  | 229 |
Deferred tax (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | — |  |  |  | — |
State and local |  |  | — |  |  |  | — |  |  |  | — |
Total deferred tax (benefit) |  |  | — |  |  |  | — |  |  |  | — |
Provision for income taxes |  | $ | 84 |  |  | $ | 168 |  |  | $ | 229 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the provision for income taxes at the statutory rate to the amount reflected in the consolidated statements of operations is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Income taxes at statutory rate |  | $ | (42,570 | ) |  | $ | (29,990 | ) |  | $ | (17,839 | )
State income taxes, net of federal benefit |  |  | (5,417 | ) |  |  | (1,096 | ) |  |  | 180 |
Permanent differences |  |  | 1,264 |  |  |  | 772 |  |  |  | 229 |
Change in valuation allowance |  |  | 46,901 |  |  |  | 30,051 |  |  |  | 17,756 |
Other |  |  | (94 | ) |  |  | 431 |  |  |  | (97 | )
Provision for income taxes |  | $ | 84 |  |  | $ | 168 |  |  | $ | 229 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 102,252 |  |  | $ | 66,879 |
Inventory reserves |  |  | 12,409 |  |  |  | 5,911 |
Stock-based compensation |  |  | 3,119 |  |  |  | 840 |
Accrued Expense |  |  | 1,456 |  |  |  | 867 |
Depreciation |  |  | — |  |  |  | 114 |
Right of Use Asset |  |  | 4,175 |  |  |  | — |
Allowance for Doubtful Accounts |  |  | 1,809 |  |  |  | 173 |
Other |  |  | 836 |  |  |  | 423 |
Total deferred tax assets |  |  | 126,056 |  |  |  | 75,207 |
Less: valuation allowance |  |  | (121,859 | ) |  |  | (74,959 | )
Net deferred tax assets |  |  | 4,197 |  |  |  | 248 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible amortization |  |  | (225 | ) |  |  | (248 | )
Depreciation |  |  | (29 | ) |  |  | — |
Lease Liability |  |  | (3,943 | ) |  |  | — |
Net deferred tax liabilities |  |  | (4,197 | ) |  |  | (248 | )
Net deferred income taxes |  | $ | — |  |  | $ | — |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration