INCOME TAX PROVISION

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAX PROVISION

10.        INCOME TAX PROVISION

The effective tax rate (income tax provision as a percentage of loss before income tax provision) was (0.6%) for the three months ended March 31, 2022, as compared to (0.1%) for the three months ended March 31, 2021. The effective tax rate for the three months ended March 31, 2022 varies from the three months ended March 31, 2021 primarily as a result of the full valuation on our deferred tax asset in both the current and prior period and the tax benefit related to our stock-based compensation and a pretax loss in the prior year period. As of March 31, 2022, management believes that its more-likely-than-not that the Company’s net deferred tax assets would not be realized in the near future, thus a full valuation allowance on its deferred tax assets remains in place.