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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) before Income Tax, Domestic and Foreign

Income (loss) before provision for income taxes for the years ended December 31, 2021 and 2020 consisted of the following (in thousands):

						December 31, 2021						December 31, 2020
U.S.						$	23,403					$	(16,667)
Foreign						—						—
Income (loss) before provision for income taxes						$	23,403					$	(16,667)

Schedule of Components of Income Tax Expense (Benefit)

The income tax (benefit)/expense for the years ended December 31, 2021 and 2020 consisted of the following (in thousands):

						December 31, 2021						December 31, 2020
Current:
Federal						$	—					$	—
State						2						—
Foreign						—						—
Total current income tax (benefit) expense						$	2					$	—
Deferred:
Federal						$	—					$	—
State						—						—
Foreign						—						—
Total deferred income tax expense (benefit)						—						—
Income tax expense (benefit)						$	2					$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the provision for income tax expense and the amount of income tax computed by applying the U.S. federal statutory rate to income before provision for income taxes as shown in the accompanying consolidated statements of operations and other comprehensive loss for the years ended December 31, 2021 and 2020 consisted of the following:

						December 31, 2021						December 31, 2020
Tax provision at U.S. federal statutory rate						21.00		%				—		%
Nondeductible expenses						0.11						—
Fair value adjustments on earnout interests liability						(65.06)						—
Fair value adjustments on derivative liability						(16.60)						—
Fair value adjustments on convertible notes						12.66						—
Transaction costs						(21.91)						—
R&D credit						(3.18)						—
State taxes, net of federal benefit						(20.33)						—
Change in valuation allowance adjustment						92.00						—
Other						1.32						—
Effective tax rate						0.01		%				—		%

Schedule of Deferred Tax Assets and Liabilities

The Company's components of deferred tax assets and liabilities for the years ended December 31, 2021 and 2020 consisted of the following (in thousands):

						December 31, 2021						December 31, 2020
Deferred tax assets:
Net operating loss carryover						$	18,649					$	—
General business and other tax credits						1,180						—
Intangible assets						2,376						—
Other non-current deferred tax assets						603						—
Subtotal						22,808						—
Valuation allowance						(21,530)						—
Total						$	1,278					$	—
Deferred tax liabilities:
Fixed assets						$	(1,278)					$	—
Total						$	(1,278)					$	—
Net deferred tax asset						$	—					$	—

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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
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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.

+ 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
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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.

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

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
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