Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.21.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Domestic and Foreign Components of Net Income (Loss) Before Income Tax Expense

The domestic and foreign components of net income (loss) before income tax expense were as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Domestic

 

$

1,562

 

 

$

1,743

 

 

$

(3,083

)

Foreign

 

 

(427

)

 

 

14

 

 

 

345

 

Net income (loss) before income tax

 

$

1,135

 

 

$

1,757

 

 

$

(2,738

)

Schedule of Provision (Benefit) for Income Tax

The provision (benefit) for income tax consists of the following (in thousands):

 

 

 

Year Ended December 31,

 

 

2020

 

 

2019

 

 

2018

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

$

 

 

$

 

 

$

 

State

 

 

 

 

 

 

 

 

 

Foreign

 

 

(7

)

 

 

7

 

 

 

(13

)

Total

 

 

(7

)

 

 

7

 

 

 

(13

)

Deferred:

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

 

 

 

 

 

 

 

 

State

 

 

 

 

 

 

 

 

 

Foreign

 

 

(83

)

 

 

(48

)

 

 

 

Total

 

 

(83

)

 

 

(48

)

 

 

 

Total tax expense (benefit)

 

$

(90

)

 

$

(41

)

 

$

(13

)

Schedule of Reconciliation of Statutory Federal Income Tax Rate to Net Income (Loss) Taxes

 

A reconciliation of income taxes at the statutory federal income tax rate to net income (loss) taxes included in the accompanying consolidated statements of operations is as follows (in thousands):

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Income tax at statutory rate

 

$

240

 

 

$

369

 

 

$

(575

)

Change in valuation allowance

 

 

(165

)

 

 

(17

)

 

 

1,595

 

Change in deferreds

 

 

8

 

 

 

100

 

 

 

7

 

State tax

 

 

(37

)

 

 

(133

)

 

 

(309

)

Stock-based compensation

 

 

(11

)

 

 

(420

)

 

 

(615

)

Research and development credit

 

 

(103

)

 

 

(82

)

 

 

(220

)

Foreign rate differential

 

 

(40

)

 

 

(43

)

 

 

(86

)

Other

 

 

18

 

 

 

185

 

 

 

190

 

Total

 

$

(90

)

 

$

(41

)

 

$

(13

)

Schedule of Company's Deferred Tax Assets and Liabilities

Temporary differences that gave rise to significant portions of the Company’s deferred tax assets and liabilities as of December 31, 2020 and 2019 were as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

Deferred tax assets:

 

 

 

 

 

 

 

 

Net operating losses

 

$

20,265

 

 

$

21,556

 

Credits

 

 

2,292

 

 

 

2,055

 

Accruals and reserves

 

 

1,648

 

 

 

767

 

Deferred revenue and contract costs

 

 

296

 

 

 

116

 

Gross deferred tax assets

 

 

24,501

 

 

 

24,494

 

Valuation allowance

 

 

(23,667

)

 

 

(23,693

)

Net deferred tax assets

 

 

834

 

 

 

801

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

Fixed assets and intangibles

 

 

(785

)

 

 

(836

)

Total deferred tax assets (liabilities), net

 

$

49

 

 

$

(35

)

Schedule of Unrecognized Uncertain Tax Positions

A reconciliation of the beginning and ending amounts of unrecognized uncertain tax positions is as follows (in thousands):

 

Balance as of December 31, 2018

 

$

734

 

Increases for current year tax positions

 

 

75

 

Decrease for prior year tax positions

 

 

(37

)

Balance as of December 31, 2019

 

 

772

 

Increases for current year tax positions

 

 

70

 

Increases for prior year tax positions

 

 

17

 

Balance as of December 31, 2020

 

$

859