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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Loss from Continuing Operations Before Provision for Income Taxes | The components of loss from continuing operations before provision for income taxes consist of the following (in thousands):
|  | Years Ended December 31, |
(In Thousands) |  | 2020 |  |  | 2021 |
United States |  | $ | (38,891 | ) |  | $ | (1,173 | )
Foreign |  |  | (5,044 | ) |  |  | (2,985 | )
Loss from continuing operations before provision for income taxes |  | $ | (43,935 | ) |  | $ | (4,158 | )
Provision for Income Taxes | The provision for income taxes for the Company’s continuing operations consists of the following (in thousands):
|  | Years Ended December 31, |
(In Thousands) |  | 2020 |  | 2021 |
Current federal provision |  |  |  |  |  |  |
State |  | $ | 21 |  | $ | 204 |
Deferred provision (benefit) |  |  |  |  |  |  |
Federal |  |  | (901 | ) |  | 20 |
State |  |  | (153 | ) |  | 106 |
Foreign |  |  | (884 | ) |  | (98 | )
Total income tax expense (benefit) |  | $ | (1,917 | ) | $ | 232 |
Computation of Income Tax Benefit from Continuing Operations Using Federal Statutory Rate | The Company’s income tax benefit from continuing operations differed from the amounts computed by applying the U.S. federal statutory rate to loss before provision for income taxes as a result of the following:
| Years Ended December 31, |
(In Thousands) | 2020 |  | 2021 |
Income tax benefit at U.S. statutory rate | $ | (9,226 | ) | $ | (873 | )
State taxes, net of valuation allowance |  | (103 | ) |  | (448 | )
Stock-based compensation (1) |  | 154 |  |  | 434 |
Valuation allowance |  | 7,427 |  |  | 3,334 |
Foreign tax differential |  | (1,124 | ) |  | (747 | )
Tax credits |  | (368 | ) |  | (544 | )
Impairment |  | 1,533 |  |  | — |
Acquisition/accretion benefits |  | (250 | ) |  | (1 | )
Gain on CARES Act loan |  | — |  |  | (1,089 | )
Meals and entertainment |  | 1 |  |  | 68 |
Other expenses |  | 39 |  |  | 98 |
Total income tax expense (benefit) | $ | (1,917 | ) | $ | 232 |
(1) Includes non-deductible stock-based compensation and excess tax benefits and shortfalls from stock-based compensation.
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below and reflects the 21% U.S. federal statutory rate for 2020 and 2021 (in thousands):
|  | Years Ended December 31, |
(In Thousands) |  | 2020 |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |
Accrued liabilities not currently deductible |  | $ | 651 |  | $ | 476 |
Intangible assets- excess of financial statement over tax amortization |  |  | 982 |  |  | 5,985 |
Goodwill recognized on financial statements in excess of tax amortization |  |  | (18 | ) |  | — |
Stock-based compensation |  |  | 2,524 |  |  | 2,405 |
Federal net operating and capital losses |  |  | 21,531 |  |  | 35,052 |
State, local and foreign net operating and capital loss carryforwards |  |  | 12,325 |  |  | 3,353 |
Research & experimental tax and other credit carryforwards |  |  | 4,640 |  |  | 5,184 |
Lease liability |  |  | 1,250 |  |  | 866 |
Other |  |  | 735 |  |  | 547 |
Gross deferred tax assets |  |  | 44,620 |  |  | 53,868 |
Valuation allowance |  |  | (43,314 | ) |  | (53,066 | )
Net deferred tax assets |  | $ | 1,306 |  | $ | 802 |
Deferred tax liabilities: |  |  |  |  |  |  |
Intangible assets-excess of tax over financial statement amortization |  |  | (532 | ) |  | (393 | )
Right-of-use lease asset |  |  | (930 | ) |  | (595 | )
Net deferred tax liabilities |  | $ | (156 | ) | $ | (186 | )
Summary of Activity Related to Tax Contingencies Recorded As an Offset to Deferred Tax Assets | The following table summarizes activity related to tax contingencies from January 1, 2020 to December 31, 2021 which are recorded as an offset to deferred tax assets (in thousands):
(In Thousands) |  |  |  |
Gross tax contingencies—January 1, 2020 |  | $ | 1,268 |
Gross increases to tax positions associated with prior periods |  |  | — |
Gross increases to current period tax positions |  |  | 97 |
Gross decreases to tax positions associated with prior periods |  |  | — |
Settlements |  |  | — |
Lapse of statute of limitations |  |  | — |
Gross tax contingencies—December 31, 2020 |  |  | 1,365 |
Gross increases to tax positions associated with prior periods |  |  | — |
Gross increases to current period tax positions |  |  | 72 |
Gross decreases to tax positions associated with prior periods |  |  | (55 | )
Settlements |  |  | — |
Lapse of statute of limitations |  |  | — |
Gross tax contingencies—December 31, 2021 |  | $ | 1,382 |

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