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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Pre-Tax Income (Loss) by Jurisdiction

In 2023, 2022 and 2021, pre-tax income (loss) was attributed to the following jurisdictions: 

			Year Ended December 31,
(In thousands)			2023						2022						2021
Domestic operations			$	(95,876)					$	(69,058)					$	(38,024)
Foreign operations			3,622						80,451						54,104
Total pre-tax income (loss)			$	(92,254)					$	11,393					$	16,080

Provision for Income Taxes

The provision for income taxes charged to operations was as follows: 

			Year Ended December 31,
(In thousands)			2023						2022						2021
Current tax expense:
U.S. federal			$	23					$	573					$	2
State and local			44						73						75
Foreign			7,193						8,523						12,386
Total current			7,260						9,169						12,463
Deferred tax (benefit) expense:
U.S. federal			(813)						230						584
State and local			(126)						36						90
Foreign			(337)						1,551						(2,358)
Total deferred			(1,276)						1,817						(1,684)
Total provision for income taxes			$	5,984					$	10,986					$	10,779

Net Deferred Tax Assets

Net deferred tax assets were comprised of the following: 

			December 31,
(In thousands)			2023						2022
Deferred tax assets:
Accrued liabilities			$	3,958					$	—
Accounts receivable			—						5,657
Amortization of intangible assets			9,999						5,977
Capitalized inventory costs			3,369						5,060
Capitalized research & development costs			8,035						4,632
Depreciation			4,058						5,067
Income tax credits			19,615						17,234
Inventory reserves			2,154						2,258
Net operating losses			12,053						3,770
Operating lease obligations			4,112						4,212
Stock-based compensation			4,453						4,288
Total deferred tax assets			71,806						58,155
Deferred tax liabilities:
Accrued liabilities			—						(5,273)
Accounts receivable			(20)						—
Right of use assets			(4,385)						(4,407)
Other			(2,920)						(361)
Total deferred tax liabilities			(7,325)						(10,041)
Net deferred tax assets before valuation allowance			64,481						48,114
Less: Valuation allowance			(59,686)						(44,596)
Net deferred tax assets			$	4,795					$	3,518

Reconciliation of Tax Provision at Statutory U.S. Rate to Provision for Income Taxes

The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to pre-tax income from operations as a result of the following: 

			Year Ended December 31,
(In thousands)			2023						2022						2021
Tax provision at statutory U.S. rate			$	(19,373)					$	2,392					$	3,377
Increase (decrease) in tax provision resulting from:
Distribution of previously taxed foreign earnings and profits			(9,450)						(16,776)						—
Federal research and development credits			(1,043)						(715)						(1,391)
Foreign permanent benefit			(1,426)						(1,620)						(1,137)
Foreign tax rate differential			21,794						15,133						(2,647)
Foreign undistributed earnings, net of credits			7,198						6,486						6,902
Foreign participation exemption			(12,571)						—						—
Goodwill impairment			5,383						—						—
Liquidation of Cayman subsidiary			—						—						745
Non-deductible items			594						601						1,198
Non-territorial income			(945)						(2,323)						(2,993)
Provision to return			(19)						(435)						(533)
Sale of Argentina subsidiary			—						—						2,084
Sale of intangible asset			—						(3,385)						—
State and local taxes, net			(2,629)						(2,408)						(1,435)
Stock-based compensation			980						693						(616)
Tax rate change			1,648						(640)						—
Valuation allowance			15,090						12,058						4,632
Withholding tax			1,229						2,188						2,333
Other			(476)						(263)						260
Tax provision			$	5,984					$	10,986					$	10,779

Changes to Gross Unrecognized Tax Benefits

Changes to our gross unrecognized tax benefits were as follows: 

			Year Ended December 31,
(In thousands)			2023						2022						2021
Balance at beginning of period			$	3,150					$	3,001					$	3,020
Additions as a result of tax positions taken during the current year			165						149						226
Foreign currency translation			—						—						(13)
Settlements			—						—						(232)
Balance at end of period			$	3,315					$	3,150					$	3,001

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