XML 45 R31.htm IDEA: XBRL DOCUMENT v3.22.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign The geographical breakdown of income (loss) before income taxes is as follows (in thousands):
Years Ended December 31,
202220212020
Domestic income$52,231 $29,088 $15,455 
Foreign income485 2,554 3,684 
Income before income taxes$52,716 $31,642 $19,139 
Schedule of Components of Income Tax Expense (Benefit) The provision for (benefit from) income taxes consisted of the following (in thousands):
Years Ended December 31,
202220212020
Current provision for income taxes:
  State$1,107 $18 $40 
  Foreign1,917 1,565 1,057 
Total current3,024 1,583 1,097 
Deferred tax expense (benefit):
  Federal2,206 (58,103)
  State656 (6,880)— 
  Foreign(78)155 224 
Total deferred2,784 (64,828)226 
Provision for (benefit from) income taxes$5,808 $(63,245)$1,323 
Schedule of Effective Income Tax Rate Reconciliation The reconciliation of the statutory federal income taxes and the provision for (benefit from) income taxes is as follows (in thousands, except percentages):
Years Ended December 31,
202220212020
AmountPercentageAmountPercentageAmountPercentage
Tax at statutory rate$11,070 21.0 %$6,645 21.0 %$4,019 21.0 %
State tax - net of federal benefits1,531 2.9 (6,866)(21.7)31 0.2 
Foreign rate differential1,737 3.3 1,184 3.7 507 2.6 
Changes in federal valuation allowance— — (63,153)(199.6)(3,281)(17.1)
Stock-based compensation(1,992)(3.8)(908)(2.9)781 4.1 
Non-deductible meals and entertainment expenses252 0.5 67 0.2 219 1.2 
Other permanent items73 0.1 653 2.1 364 1.9 
Federal tax credits - net of uncertain tax positions(3,844)(7.3)(480)(1.5)(1,035)(5.4)
Amended return true-up(4,176)(7.9)— — — — 
Other1,157 2.2 (387)(1.2)(282)(1.5)
$5,808 11.0 %$(63,245)(199.9)%$1,323 7.0 %
Schedule of Deferred Tax Assets and Liabilities Deferred tax balances are comprised of the following (in thousands):
December 31,
2022
December 31,
2021
Deferred tax assets:
Net operating loss carryforwards$11,954 $35,395 
Research and development credits, net of uncertain tax positions32,837 28,867 
Accruals, reserves and other22,041 14,239 
Stock-based compensation1,912 2,389 
Depreciation and amortization229 1,353 
Operating lease liability4,459 5,400 
Capitalized R&D expenses12,075 — 
Gross deferred tax assets85,507 87,643 
Valuation allowance(15,581)(13,750)
Total deferred tax assets69,926 73,893 
Deferred tax liabilities:
Deferred contract acquisition costs(2,341)(2,787)
Operating lease right-of-use asset(4,336)(5,303)
Other(66)(30)
Total deferred tax liabilities(6,743)(8,120)
Net deferred tax assets$63,183 $65,773 
Summary of Income Tax Contingencies The activity related to the unrecognized tax benefits is as follows (in thousands):
Years Ended December 31,
202220212020
Gross unrecognized tax benefits—beginning balance$6,841 $4,585 $4,441 
Increases (decreases) related to tax positions from prior years(226)1,793 (268)
Increases related to tax positions taken during current year462 463 412 
Decreases related to tax positions taken during the current year— — — 
Gross unrecognized tax benefits—ending balance$7,077 $6,841 $4,585