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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Taxes  
Schedule of United States and foreign loss before income taxes

United States and foreign (loss) income before income taxes was as follows (in thousands):

Year ended December 31,

 

2019

2018

2017

 

United States

    

$

(50,339)

    

$

(14,776)

    

$

12,543

Foreign

 

303

 

2,408

 

(12,542)

Total

$

(50,036)

$

(12,368)

$

1

Schedule of the provision for income taxes

The income tax (benefit) provision was as follows (in thousands):

December 31,

 

2019

2018

2017

 

Current:

    

    

    

    

    

    

Federal

$

237

$

$

235

State

 

122

 

274

 

93

Foreign

 

487

 

309

 

 

846

 

583

 

328

Deferred:

Federal

 

(58,368)

 

 

(235)

State

 

(7,938)

 

 

Foreign

 

 

 

 

(66,306)

 

 

(235)

Income tax (benefit) provision

$

(65,460)

$

583

$

93

Schedule of reconciliations of the U.S. federal statutory tax rate to the combined effective tax rate

Year ended

 

December 31,

 

(amounts in thousands)

2019

2018

2017

 

Statutory rate of tax benefit

$

(10,508)

$

(2,597)

$

-

State income taxes, net of federal benefit

 

(2,418)

(1,518)

(17)

Permanent and other items

 

4,371

1,349

279

Stock-based compensation

 

(5,006)

(6,007)

(5,478)

Research credits

 

(3,594)

(2,556)

(2,215)

Uncertain tax positions

 

1,780

6,143

1,108

Change in tax rate

 

419

(250)

1,013

Tax Cuts and Jobs Act

-

-

25,216

ASU 2016-09 Implementation & ASC 842 Adoption in 2019

(104)

-

-

Valuation allowance

 

(50,400)

6,019

(19,813)

Income tax (benefit) provision

$

(65,460)

$

583

$

93

Schedule of significant components of the Company's deferred tax assets

Significant components of the Company’s net deferred tax assets at December 31, 2019 and December 31, 2018 are as follows (in thousands):

December 31,

 

2019

2018

 

Deferred tax assets:

    

 

    

    

    

Net operating loss carryforwards

 

$

69,571

$

40,041

Tax credits

11,590

 

7,754

Depreciation and amortization

 

9,356

Stock-based compensation

19,268

9,838

Reserves and accruals

7,996

5,030

Lease liability

18,422

Other, net

147

$

(65)

Total deferred tax assets

126,994

 

71,954

Deferred tax liabilities:

Depreciation and amortization

(81,174)

ROU Lease Asset

(17,333)

Inventory

(6,030)

Total deferred tax liabilities

$

(104,537)

Valuation allowance

 

(32,089)

 

(71,954)

Net deferred tax liability

$

(9,632)

$

Schedule of reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for the years ended December 31, 2019, December 31, 2018 and December 31, 2017, excluding interest and penalties, is as follows (in thousands):

December 31,

2019

2018

2017

Balance at beginning of the year

    

$

13,486

    

$

7,227

    

$

5,947

Net addition for tax positions - prior years

230

4,558

Net additions for tax positions - current year

2,339

 

1,701

 

1,280

Subtractions from tax positions - prior years

(537)

Subtractions from tax positions - current year

(442)

Balance at end of the year

$

15,076

$

13,486

$

7,227