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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of (Loss) Income before Provision for Income Taxes | (Loss) income before provision for income taxes was generated from the following sources (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Domestic |  | $ | (31,301 | ) |  | $ | 4,213 |
Foreign |  |  | 473 |  |  |  | 112 |
Total (loss) income before provision for income taxes |  | $ | (30,828 | ) |  | $ | 4,325 |
F-18
Summary of Income Tax Expense (Benefit) | A summary of the income tax expense (benefit) is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | (133 | )
State |  |  | 5 |  |  |  | 6 |
Foreign |  |  | 152 |  |  |  | 134 |
Total current |  |  | 157 |  |  |  | 7 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 24 |  |  |  | 155 |
State |  |  | 35 |  |  |  | 24 |
Foreign |  |  | (1 | ) |  |  | (26 | )
Total deferred |  |  | 58 |  |  |  | 153 |
Total income tax expense |  | $ | 215 |  |  | $ | 160 |
Federal Statutory Rate to Loss Before Income Taxes | A reconciliation of the provision for income taxes to the amount of income tax expense (benefit) that would result from applying the federal statutory rate to the loss before income taxes is as follows:
|  | Year Ended December 31, |  |
|  | 2021 |  |  | 2020 |  |
Federal statutory rate |  |  | 21.0 |  | % |  | 21.0 |  | %
State tax, net of federal benefit |  |  | 4.3 |  |  |  | 2.7 |  |
Equity compensation |  |  | 0.4 |  |  |  | (1.8 | ) |
International tax items |  |  | 0.1 |  |  |  | (0.1 | ) |
Foreign taxes |  |  | (0.5 | ) |  |  | 2.5 |  |
State NOL true-up |  |  | 1.2 |  |  |  | 2.5 |  |
Miscellaneous |  |  | (0.4 | ) |  |  | 1.3 |  |
Effect of change in rate |  |  | 0.8 |  |  |  | 3.5 |  |
Change in valuation allowance |  |  | (27.6 | ) |  |  | (27.9 | ) |
|  |  | (0.7 | ) | % |  | 3.7 |  | %
F-19
Components of Deferred Tax Assets and Liabilities | The major components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Deferred income tax assets |  |  |  |  |  |  |  |
Net operating loss carry forwards |  | $ | 47,204 |  |  | $ | 42,127 |
Credit carry forwards |  |  | 3,027 |  |  |  | 3,027 |
Fixed assets |  |  | 84 |  |  |  | 116 |
Intangibles |  |  | 6,259 |  |  |  | 3,346 |
Equity-based compensation |  |  | 208 |  |  |  | 343 |
Nondeductible accruals |  |  | 532 |  |  |  | 365 |
Various reserves |  |  | - |  |  |  | 23 |
Deferred rent |  |  | 33 |  |  |  | 94 |
Other |  |  | 7 |  |  |  | 2 |
Valuation allowance |  |  | (57,346 | ) |  |  | (49,405 | )
Total deferred income taxes - net |  |  | 8 |  |  |  | 38 |
Deferred income tax liabilities |  |  |  |  |  |  |  |
Foreign intangibles |  |  | - |  |  |  | (1 | )
Unrealized translation gain/loss |  |  | (45 | ) |  |  | 3 |
Prepaid expenses |  |  | (80 | ) |  |  | (99 | )
Total deferred income liabilities |  |  | (125 | ) |  |  | (97 | )
Net deferred income tax (liabilities) |  | $ | (117 | ) |  | $ | (59 | )
Gross Unrecognized Tax Benefits Changes in Balances | The Company’s gross unrecognized tax benefits as of December 31, 2021 and 2020 and the changes in those balances are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Beginning balance |  | $ | 428 |  |  | $ | 428 |
Other |  |  | (16 | ) |  |  | — |
Gross unrecognized tax benefits, ending balance |  | $ | 412 |  |  | $ | 428 |

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