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Income tax expense (Tables)
12 Months Ended
Dec. 31, 2020
Income tax expense  
Schedule of loss before income taxes attributable to domestic and international operations

Year ended December 31

(in thousands)

    

2018

    

2019

    

2020

Domestic

$

(113,699)

$

(78,761)

$

(71,344)

Foreign

 

(1,032)

 

(3,902)

 

1,999

Loss before income taxes

$

(114,731)

$

(82,663)

$

(69,345)

Schedule of income tax expense

Year ended December 31

(in thousands)

    

2018

    

2019

    

2020

Current tax

Domestic

$

$

$

Foreign

 

(49)

 

(101)

 

(139)

Deferred tax

Domestic

 

 

 

Foreign

 

 

 

Total income tax expense

$

(49)

$

(101)

$

(139)

Schedule of effective income tax rate reconciliation

Year ended December 31

(% of pre-tax income)

    

2018

    

2019

    

2020

Statutory income tax rate

 

12.5

%

12.5

%

12.5

%

Non-deductible expenses

 

(0.1)

(0.1)

Income not subject to tax

 

0.3

0.3

0.2

Tax credits

 

0.1

0.4

0.6

Foreign rate differential

 

(3.1)

0.6

3.0

In-process research and development

(3.5)

Tax audit assessments

 

(11.8)

Other

0.2

0.8

2.3

Valuation allowance

 

(6.5)

(2.8)

(18.8)

Effective income tax rate

 

(0.1)

%

(0.1)

%

(0.2)

%

Summary of the components of deferred income tax balances

As of December 31, 

(in thousands)

    

2019

    

2020

Deferred tax assets:

 

 

Net operating loss carryforwards

$

94,014

$

108,095

Tax loss on liquidation of subsidiary 

5,024

4,029

Equity compensation

 

4,182

 

4,449

Non-deductible reserves

 

395

 

447

Total deferred tax assets

103,615

117,020

Valuation allowance

 

(103,185)

 

(116,200)

Net deferred tax assets

430

820

Deferred tax liabilities:

Financial liabilities

48

 

757

Property, plant and equipment

 

382

 

63

Total deferred tax liability

430

820

Deferred tax, net

$

$

Summary of changes in the deferred tax valuation allowance

Year ended December 31, 

(in thousands)

    

2018

    

2019

    

2020

Balance at beginning of year

 

$

(80,087)

 

$

(100,832)

 

$

(103,185)

Tax benefit

 

(7,301)

 

(2,353)

 

(13,015)

Acquired tax attributes

(13,444)

Balance at end of year

$

(100,832)

 

$

(103,185)

 

$

(116,200)

Summary of carryforwards of net operating losses

(in thousands)

    

Amount

    

Expiration

Ireland

$

251,775

 

Indefinite

Austria

$

248,563

 

Indefinite

United States

$

10,401

Indefinite

United States

$

35,516

 

2033