XML 81 R64.htm IDEA: XBRL DOCUMENT
v3.23.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Taxes [Abstract] |
Schedule of Income Before Income Tax, Domestic and Foreign | The domestic and foreign components of loss before income taxes for the years ended December 31, 2022 and 2021 are as follows (in thousands):
|  | For the Years Ended December 31,
|  | 2022 |  | 2021
Domestic |  | $ | (31,474 | ) |  | $ | (22,632 | )
Foreign |  |  | (7,004 | ) |  |  | (5,989 | )
Net Loss, before tax, continuing operations |  | $ | (38,478 | ) |  | $ | (28,621 | )
Schedule of Components of Income Tax Expense (Benefit) | The income tax provision (benefit) for the years ended December 31, 2022 and 2021 consists of the following (in thousands):
|  | For the Years Ended December 31,
|  | 2022 |  | 2021
Foreign |  |  |  |  |  |  |  |
Current |  | $ | 33 |  |  | $ | (5 | )
Deferred |  |  | (1,657 | ) |  |  | (37 | )
U.S. federal |  |  |  |  |  |  |  |
Current |  |  | (268 | ) |  |  | 5,815 |
Deferred |  |  | (5,690 | ) |  |  | — |
State and local |  |  |  |  |  |  |  |
Current |  |  | 91 |  |  |  | 607 |
Deferred |  |  | (646 | ) |  |  | — |
|  |  | (8,137 | ) |  |  | 6,380 |
Change in valuation allowance |  |  | 7,888 |  |  |  | (2,591 | )
Income Tax (Benefit)/Expense, continuing operations |  | $ | (249 | ) |  | $ | 3,789 |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation between the U.S. statutory federal income tax rate and the Company’s effective rate for the years ended December 31, 2022 and 2021 is as follows:
|  | For the Years Ended December 31,
|  | 2022 |  | 2021
U.S. federal statutory rate |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit |  | 2.0 | % |  | 1.3 | %
Incentive stock options |  | (0.2 | )% |  | (0.3 | )%
162(m) Compensation Limit |  | — | % |  | (0.7 | )%
Goodwill impairment loss |  | (1.0 | )% |  | (2.8 | )%
US-Foreign income tax rate difference |  | 1.0 | % |  | 1.6 | %
Other permanent items |  | (0.3 | )% |  | (0.6 | )%
Provision to return adjustments |  | 0.5 | % |  | (6.6 | )%
Deferred only adjustment |  | (1.9 | )% |  | (10.5 | )%
Change in valuation allowance |  | (20.5 | )% |  | (15.6 | )%
Effective Rate |  | 0.6 | % |  | (13.2 | )%
Schedule of Deferred Tax Assets and Liabilities | As of December 31, 2022 and 2021, the Company’s deferred tax assets consisted of the effects of temporary differences attributable to the following:
(in 000s) |  | As of December 31,
Deferred Tax Asset |  | 2022 |  | 2021
Net operating loss carryovers |  | $ | 39,642 |  |  | $ | 35,033 |
Stock based compensation |  |  | 2,073 |  |  |  | 2,540 |
Research credits |  |  | 123 |  |  |  | 131 |
Accrued compensation |  |  | 87 |  |  |  | 96 |
Reserves |  |  | 306 |  |  |  | 345 |
Intangibles |  |  | 199 |  |  |  | — |
Fixed assets |  |  | 356 |  |  |  | 393 |
Unrealized gain |  |  | 14,557 |  |  |  | 12,876 |
Capital Research |  |  | 1,587 |  |  |  | — |
Other |  |  | 803 |  |  |  | 260 |
Total Deferred Tax Asset |  |  | 59,733 |  |  |  | 51,674 |
Less: valuation allowance |  |  | (57,255 | ) |  |  | (46,071 | )
Deferred Tax Asset, Net of Valuation Allowance |  | $ | 2,478 |  |  | $ | 5,603 |
|  | As of December 31,
Deferred Tax Liabilities |  | 2022 |  | 2021
Intangible assets |  | $ | (1,878 | ) |  | $ | (4,613 | )
Fixed assets |  |  | (149 | ) |  |  | (239 | )
Other |  |  | (448 | ) |  |  | (381 | )
Capitalized research |  |  | — |  |  |  | (370 | )
Total deferred tax liabilities |  |  | (2,475 | ) |  |  | (5,603 | )
Net Deferred Tax Asset (Liability) |  | $ | 3 |  |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration