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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of components of income before income taxes | The components of income before income taxes were as follows:
|  | Year ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
United States |  | $ | (106,467 | ) |  | $ | (16,269 | ) |  | $ | (13,534 | )
Foreign |  |  | 47 |  |  |  | 262 |  |  |  | — |
Total loss before income taxes |  | $ | (106,420 | ) |  | $ | (16,007 | ) |  | $ | (13,534 | )
Schedule of provisions (benefits) for income taxes | The provisions (benefits) for income taxes and the reasons for the differences between the provisions (benefits) for income taxes and income tax provisions (benefits) using the U.S. federal income tax rate were as follows:
|  | Year ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Current - |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | (159 | ) |  | $ | — |
State |  |  | 196 |  |  |  | 1 |  |  |  | (36 | )
Foreign |  |  | (27 | ) |  |  | 78 |  |  |  | — |
|  |  | 169 |  |  |  | (80 | ) |  |  | (36 | )
Deferred - |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | (3 | ) |  |  | (3 | )
State |  |  | — |  |  |  | — |  |  |  | — |
|  |  | — |  |  |  | (3 | ) |  |  | (3 | )
Provision (benefit) for income taxes |  | $ | 169 |  |  | $ | (83 | ) |  | $ | (39 | )
Federal income tax provision (benefit) at statutory rate |  | $ | (22,348 | ) |  | $ | (3,362 | ) |  | $ | (2,842 | )
State taxes, net of federal |  |  | (1,744 | ) |  |  | (215 | ) |  |  | (551 | )
Research and experimentation tax credit |  |  | (342 | ) |  |  | (179 | ) |  |  | (118 | )
Change in valuation allowance |  |  | 28,361 |  |  |  | 3,523 |  |  |  | 3,184 |
Stock compensation |  |  | (6,863 | ) |  |  | 406 |  |  |  | 225 |
Dividends received deduction |  |  | — |  |  |  | (308 | ) |  |  | — |
Section 162m limitation on executive compensation |  |  | 2,467 |  |  |  | — |  |  |  | — |
Permanent differences and other |  |  | 638 |  |  |  | 52 |  |  |  | 63 |
Provision (benefit) for income taxes |  | $ | 169 |  |  | $ | (83 | ) |  | $ | (39 | )
Schedule of components of deferred tax assets and liabilities | The components of deferred tax assets and liabilities were as follows:
(in thousands) |  | December 31, 2021 |  |  | December 31, 2020 |
Deferred tax assets: |  |  |  |  |  |
Fixed assets and intangibles |  | $ | 17 |  |  | $ | 135 |
Leases |  |  | 378 |  |  |  | 106 |
Accrued expenses |  |  | 2,741 |  |  |  | 2,066 |
Net operating loss carryforward |  |  | 31,868 |  |  |  | 6,679 |
Stock options |  |  | 5,508 |  |  |  | — |
Investment difference |  |  | — |  |  |  | 148 |
R&D credit carryforward |  |  | 616 |  |  |  | 325 |
Other |  |  | 402 |  |  |  | — |
Subtotal |  |  | 41,530 |  |  |  | 9,459 |
Less: valuation allowance |  |  | (40,760 | ) |  |  | (9,297 | )
Total deferred tax assets |  |  | 770 |  |  |  | 162 |
Deferred tax liabilities: |  |  |  |  |  |
Leases |  |  | (370 | ) |  |  | (101 | )
Prepaid expenses |  |  | (400 | ) |  |  | (61 | )
Total deferred tax liability |  |  | (770 | ) |  |  | (162 | )
Net deferred tax asset (liability) |  | $ | — |  |  | $ | — |
Schedule of changes in our accruals for unrecognized tax benefits | We account for uncertainty in taxes in accordance with authoritative guidance. Changes in our accruals for unrecognized tax benefits were as follows:
|  | Year ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |
Balance at beginning of period |  | $ | 81 |  |  | $ | 45 |
Increase for tax positions related to the current year |  |  | 636 |  |  |  | 36 |
Decrease for tax positions related to prior years |  |  | — |  |  |  | — |
Balance at end of period |  | $ | 717 |  |  | $ | 81 |

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