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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Summary of Change in Valuation Allowance | The following table summarizes the change in the valuation allowance during 2021 and 2022, (in thousands):
Balance as of December 31, 2020 |  | $ | 13,097 |
Change during 2021 |  |  | (855 | )
Balance as of December 31, 2021 |  |  | 12,242 |
Change during 2022 |  |  | (7,813 | )
Balance as of December 31, 2022 |  | $ | 4,429 |
Schedule of Components of Income Tax Expense (Benefit) | The reported tax expense varies from the amount that would be provided by applying the statutory U.S. Federal income tax rate to the income before income tax expense for the following reasons in each of the years ended December 31, (in thousands):
|  | 2022 |  |  | 2021 |
Expected federal statutory tax expense |  | $ | 2,311 |  |  | $ | 628 |
Increase (reduction) in taxes resulting from: |  |  |  |  |  |
State income taxes |  |  | 470 |  |  |  | 43 |
Non-deductible expenses (permanent differences) |  |  | (179 | ) |  |  | (707 | )
Change in valuation allowance |  |  | (7,813 | ) |  |  | (855 | )
Other |  |  | 725 |  |  |  | 830 |
Income tax benefit |  | $ | (4,486 | ) |  | $ | (61 | )
Schedule of Deferred Tax Assets and Liabilities | The components of the net deferred tax assets as of December 31, 2022 and 2021 are as follows in (thousands):
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carry forwards |  | $ | 14,097 |  |  | $ | 16,824 |
Stock based compensation |  |  | 317 |  |  |  | 1,095 |
Operating lease liabilities |  |  | 742 |  |  |  | 719 |
Other |  |  | 280 |  |  |  | 262 |
Total gross deferred tax assets |  |  | 15,436 |  |  |  | 18,900 |
Deferred tax liabilities: |  |  |  |  |  |
Trade names |  |  | (686 | ) |  |  | (734 | )
Customer relationships |  |  | (27 | ) |  |  | (7 | )
Equity method investments |  |  | — |  |  |  | (479 | )
Operating lease right-of-use assets |  |  | (718 | ) |  |  | (704 | )
Other |  |  | (127 | ) |  |  | (246 | )
Total gross deferred tax liabilities |  |  | (1,558 | ) |  |  | (2,170 | )
Total deferred tax assets |  |  | 13,878 |  |  |  | 16,730 |
Less: valuation allowance |  |  | (4,429 | ) |  |  | (12,242 | )
Deferred tax assets, net of valuation allowance |  | $ | 9,449 |  |  | $ | 4,488 |
The Inflation Reduction Act (“IRA”) was enacted on August 16, 2022. The company does not expect the IRA will have a material impact to the Company’s financial statements when it becomes effective for the tax years after December 31, 2022.

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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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