Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Loss Before Income Taxes

Loss before income taxes consists of the following:

 

    Year Ended December 31,  
    2017     2018     2019  
                   
U.S. operations   $ (4,425 )   $ (5,066 )   $ (10,888 )
Foreign operations     (244 )     (746 )     (168 )
                         
    $ (4,181 )   $ (5,812 )   $ (11,056 )

Schedule of Statutory Federal Income Tax Rate

The difference between income taxes at the statutory federal income tax rate and income taxes reported in the Consolidated Statements of Operations is attributable to the following:

 

    Year Ended December 31,  
    2017     2018     2019  
                   
Income tax benefit at the federal statutory rate   $ (1,316 )   $ (1,221 )   $ (2,317 )
State and local income taxes, net of effect on federal taxes     (441 )     (800 )     (213 )
Increase (decrease) in valuation allowance     (8,509 )     (1,861 )     402  
Remeasurement of deferred tax assets     -       -       1,032  
Incentive stock options/forfeitures     (11 )     (22 )     -  
Permanent differences and other     508       182       1,066  
Other     -       -       (45 )
Change in Federal tax rate     10,848       -       -  
Research and development tax credits     (1,390 )     -       -  
                         
    $ (311 )   $ -     $ (75 )

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2018 and 2019 are presented below:

 

    December 31,  
    2018     2019  
             
Deferred tax assets:                
Net operating loss carryforwards   $ 22,988     $ 35,871  
Capital loss carryforwards     -       10,292  
Deferred revenue     1,564       1,167  
Stock-based compensation     732       534  
Federal research and development tax credits     1,058       1,058  
Intangibles, amortization     861       -  
Inventories     149       124  
Other deductible temporary differences     549       847  
                 
Total gross deferred tax assets     27,901       49,893  
Less: Valuation allowance     (27,568 )     (42,117 )
                 
      333       7,776  
Deferred tax liabilities:                
Goodwill amortization     -       (11,276 )
Fixed assets, depreciation     (333 )     (222 )
                 
      (333 )     (11,498 )
                 
Net deferred tax liabilities   $ -     $ (3,722 )

Schedule of Unrecognized Tax Positions

A reconciliation of the beginning and ending amount of unrecognized tax positions is as follows:

 

    December 31,  
    2018     2019  
             
Balance at the beginning of the year   $ -     $ 271  
                 
Pointer uncertain tax positions assumed             112  
                 
Additions based on tax positions taken related to the current year     -       7  
                 
Balance at the end of the year   $ -     $ 390