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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			$	—

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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