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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Summary of Loss Before Provision for Income Taxes | Loss before the provision for income taxes consisted of the following:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in thousands) |
Canada |  | $ | (110,433 | ) |  | $ | (55,446 | ) |  | $ | (27,355 | )
Foreign |  | $ | 1,847 |  |  | $ | 704 |  |  | $ | 334 |
Loss before provision for income taxes |  | $ | (108,586 | ) |  | $ | (54,742 | ) |  | $ | (27,021 | )
Summary of provision for income taxes | The components of the provision for income taxes are as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in thousands) |
Current income tax provision - foreign |  | $ | 530 |  |  | $ | (45 | ) |  | $ | 327 |
Deferred income tax benefit - foreign |  |  | (2,208 | ) |  |  | (1,280 | ) |  |  | (132 | )
Total provision for income taxes |  | $ | (1,678 | ) |  | $ | (1,325 | ) |  | $ | 195 |
Summary of Reconciliation of Provision for Income Taxes | A reconciliation between tax expense and the product of accounting income multiplied by the statutory income tax rate is as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in thousands) |
Loss before income taxes |  | $ | (108,586 | ) |  | $ | (54,742 | ) |  | $ | (27,021 | )
Income tax at statutory rate |  |  | 26.5 | % |  |  | 26.5 | % |  |  | 26.5 | %
Computed income tax recovery |  |  | (28,775 | ) |  |  | (14,507 | ) |  |  | (7,160 | )
Effect on income tax resulting from: |  |  |  |  |  |  |  |  |
Federal investment tax credit |  |  | (4,093 | ) |  |  | (2,347 | ) |  |  | (985 | )
Accounting charges not deductible for tax purposes |  |  | 1,078 |  |  |  | 1,088 |  |  |  | 143 |
Equity compensation |  |  | 2,220 |  |  |  | (742 | ) |  |  | 134 |
Other |  |  | 644 |  |  |  | (306 | ) |  |  | (16 | )
Change in valuation allowance |  |  | 27,248 |  |  |  | 15,489 |  |  |  | 8,079 |
Tax (benefit) expense |  | $ | (1,678 | ) |  | $ | (1,325 | ) |  | $ | 195 |
Summary of Losses Expire | The Company has not recognized the tax benefit of these losses. These losses expire as follows:
|  | (in thousands) |
2041 |  | $ | 94,231 |
2040 |  |  | — |
2039 |  |  | 11,394 |
2038 |  |  | 7,052 |
2037 |  |  | 883 |
Total |  | $ | 113,560 |
Summary of Investment Tax Credits Expire | The Company has not recognized the tax benefits related to the non-refundable investment tax credits. The investment tax credits
|  | (in thousands) |
2041 |  | $ | 2,217 |
2040 |  |  | 1,702 |
2039 |  |  | 1,362 |
2038 |  |  | 776 |
2037 |  |  | 455 |
2036 |  |  | 24 |
Total |  | $ | 6,536 |
Summary of Deferred Tax Assets | The Company’s deferred tax assets as of December 31, 2021 and 2020 consisted of the following:
|  | 2021 |  |  | 2020 |
|  | (in thousands) |
Net operating loss carryforwards |  | $ | 30,093 |  |  | $ | 5,087 |
Net research and development expenditures |  |  | 10,656 |  |  |  | 7,478 |
Share issuance costs |  |  | 3,538 |  |  |  | 4,506 |
Net federal investment tax credits |  |  | 4,805 |  |  |  | 3,181 |
U.S. research and development tax credits |  |  | 1,775 |  |  |  | 961 |
Tax basis of property and equipment in excess of carrying values |  |  | — |  |  |  | (86 | )
Operating lease right-of-use assets |  |  | (1,995 | ) |  |  | (1,240 | )
Operating lease liability |  |  | 1,950 |  |  |  | 1,063 |
Accrued expense and other liabilities |  |  | 760 |  |  |  | 345 |
Deferred revenue |  |  | 13,656 |  |  |  | 15,372 |
Share-based compensation |  |  | 988 |  |  |  | 103 |
Total deferred tax assets |  |  | 66,226 |  |  |  | 36,770 |
Valuation allowance |  |  | (62,606 | ) |  |  | (35,358 | )
Net deferred tax assets |  | $ | 3,620 |  |  | $ | 1,412 |

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- 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=121826272&loc=d3e32639-109319 + Details
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- 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=121826272&loc=d3e32537-109319 + Details
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- 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=121826272&loc=d3e32687-109319 + Details
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