Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2016			2015
Deferred tax assets and liabilities:
Accruals and prepaids	$	4,992		$	4,606
Intangible assets	(5,130		)	146
Property and equipment	(1,338		)	(1,396		)
R&D and other tax credits	1,219			3,293
Stock Compensation	7,417			7,063
Net operating loss	2,395			1,763
Other	113			145
Net deferred tax assets	$	9,668		$	15,620
Valuation allowance	(554		)	(782		)
	$	9,114		$	14,838

Reconciliation of the Federal statutory income tax

The reconciliation of the Federal statutory income tax rate of 35% to the effective rate is as follows:

	December 31,
	2016		2015
Federal statutory rate	35.00	%	34.00	%
State taxes, net of federal benefit	4.78	%	3.33	%
Non deductible compensation	0.04	%	0.63	%
Meals & entertainment	3.82	%	2.27	%
Equity Compensation	5.51	%	6.39	%
Domestic Production Activities Deduction	(4.71	)%	—	%
Tax Credits	(8.79	)%	(2.84	)%
Prior Period Adjustments	(3.79	)%	—	%
Other	3.27	%	(1.74	)%
Valuation allowance	(1.26	)%	(63.33	)%
	33.87	%	(21.29	)%

Schedule of current and deferred income tax expense (benefit)

Current and deferred income tax expense (benefit) is as follows (in thousands):

	December 31, 2016			December 31, 2015
Current:
Federal	$	4,700		$	8,452
State	1,423			1,218
Total current	6,123			9,670
Deferred:
Federal	26			(13,070		)
State	(16		)	(1,768		)
Total deferred	10			(14,838		)
Total expense	$	6,133		$	(5,168	)

Reconciliation of unrecognized tax benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):

	December 31, 2016		December 31, 2015
Unrecognized tax benefits - January 1	$	170	$	—
Gross increases - tax positions in current period	111		170
Unrecognized tax benefits - December 31	$	281	$	170