v3.22.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes Income (loss) before income taxes and the related tax (benefit) expense is as follows (in thousands):
Year Ended December 31,
202220212020
Income (loss) before income taxes:
   Domestic$21,068 $64,751 $17,000 
   Foreign(7,766)(8,347)3,089 
      Total income before income taxes$13,302 $56,404 $20,089 
Current taxes:
   Federal$— $— $(6)
   State5,309 3,533 1,185 
   Foreign29 19 — 
      Total current taxes$5,338 $3,552 $1,179 
Deferred taxes:
   Federal$(2,781)$12,554 $(99,164)
   State(5,164)(1,682)(27,449)
      Total deferred taxes$(7,945)$10,872 $(126,613)
      Total income tax (benefit) expense$(2,607)$14,424 $(125,434)
Schedule of Reconciliation of Income Taxes (Benefit) Expense at the U.S. Federal Statutory Rate to the Provision for Income Taxes A reconciliation of income tax (benefit) expense at the U.S. federal statutory rate to the provision for income taxes is as follows (dollars in thousands):
 Year Ended December 31,
 202220212020
AmountTax RateAmountTax RateAmountTax Rate
U.S. statutory rate applied to income before taxes$2,793 21.00 %$11,845 21.00 %$4,219 21.00 %
State taxes(448)(3.37)%2,154 3.82 %632 3.15 %
Foreign taxes248 1.86 %(651)(1.15)%639 3.18 %
Executive compensation1,267 9.53 %719 1.27 %765 3.81 %
Change in valuation allowance2,871 21.58 %3,695 6.55 %(130,150)(647.87)%
Stock-based compensation(1,795)(13.49)%(2,144)(3.80)%(216)(1.08)%
Tax credits(2,542)(19.11)%(1,690)(3.00)%(1,591)(7.92)%
Interest expense(3,477)(26.14)%— — %— — %
Contingent consideration(3,841)(28.88)%247 0.44 %— — %
Nondeductible expenses1,164 8.75 %1,929 3.42 %149 0.74 %
Reserves984 7.40 %(738)(1.31)%1,539 7.66 %
Convertible debt— — %— — %(1,048)(5.22)%
Other169 1.27 %(942)(1.67)%(372)(1.84)%
Income tax (benefit) expense and effective tax rate$(2,607)(19.60)%$14,424 25.57 %$(125,434)(624.39)%
Schedule of Significant Components of the Company's Deferred Tax Assets and Liabilities Significant components of the Company’s deferred tax assets and liabilities at December 31, 2022 and 2021 are as follows (in thousands):
 December 31,
 20222021
Deferred tax assets:  
Net operating loss carryforwards$151,495 $174,203 
Federal and state credits23,098 35,414 
Accruals and reserves19,979 29,691 
Stock based compensation27,473 24,545 
Deferred revenue— 2,430 
Inventory reserves4,889 572 
Other11,036 2,441 
Total deferred tax assets237,970 269,296 
Deferred tax liabilities:
Depreciation and amortization(54,743)(81,418)
Discount on convertible senior notes13 (15,521)
Total deferred tax liabilities(54,730)(96,939)
Deferred tax assets, net of deferred tax liabilities183,240 172,357 
Less: valuation allowance(22,931)(18,993)
Net deferred tax assets$160,309 $153,364 
Schedule of Unrecognized Tax Benefits Rollforward The change in the Company’s UTBs for the year ended December 31, 2022 is summarized as follows (in thousands):
Unrecognized
Tax Benefit
Balance as December 31, 2020$6,076 
Reduction for prior year positions(1,355)
Additions for current year positions4,300 
Balance at December 31, 20219,021 
Reduction for prior year positions(3,526)
Additions for current year positions827 
Balance at December 31, 2022$6,322