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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense

The components of the income tax expense are as follows:

    

Year Ended December 31, 

(in thousands)

    

2021

    

2020

    

2019

Current:

 

  

 

  

 

  

Federal

$

$

$

State

 

 

 

$

$

$

Deferred:

 

  

 

  

 

  

Federal

$

17,417

$

$

State

 

1,115

 

(147)

 

(122)

Income tax expense (benefit)

$

18,532

$

(147)

$

(122)

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rate (as a percentage of net loss before income taxes) is reconciled to the U.S. federal statutory rate as follows:

    

Year Ended December 31, 

 

(in thousands)

    

2021

    

2020

    

2019

 

Income tax benefit at the statutory federal rate (21%)

$

(10,128)

$

(20,285)

$

(12,791)

Nondeductible expenses

 

147

 

103

 

360

PPP Loan Forgiveness

(2,127)

Valuation allowance

 

29,268

 

19,800

 

12,626

State taxes, net of federal benefit

 

882

 

(116)

 

(396)

Stock-based compensation and other

 

490

 

351

 

79

Income tax expense (benefit)

$

18,532

$

(147)

$

(122)

Effective tax rate

 

(38.5)

%  

 

0.2

%  

 

0.2

%

Schedule of Deferred Tax Assets and Liabilities

    

December 31, 

(in thousands)

2021

2020

Deferred income tax assets

 

  

  

Merger-related expenses

$

960

$

1,130

Bad debts

 

 

119

Stock-based compensation

 

1,247

 

1,168

Accrued liabilities and other

 

292

 

44

Deferred revenue

 

119

 

28

Interest limitation

 

3,281

 

3,298

ROU Asset

 

379

 

769

Net operating losses

 

93,733

 

79,373

Total net deferred tax assets

$

100,011

$

85,929

Deferred income tax liabilities

 

  

 

  

Prepaids

$

(740)

$

(769)

Property, plant and equipment

 

(38,000)

 

(35,086)

Intangible assets

 

 

ROU Liability

 

(315)

 

(738)

Other

 

 

(194)

Total net deferred tax liabilities

$

(39,055)

$

(36,787)

Valuation allowance

$

(79,993)

$

(49,647)

Net deferred tax liability

$

(19,037)

$

(505)