Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Schedule of components of the income tax (benefit) provision

	2021		2020		2019
Current:
Federal	$	1,065	$	—	$	—
State		(205)		(71)		(67)
Total current		860		(71)		(67)
Deferred
Federal		8,561		1,433		(21)
State		852		327		(8)
Total deferred		9,413		1,760		(29)
Income tax benefit (expense)	$	10,273	$	1,689	$	(96)

Schedule of significant deferred tax assets and deferred tax liabilities

	December 31,		December 31,
	2021		2020
Deferred tax assets
Accrued expenses	$	1,070	$	1,114
Stock-based compensation		1,753		2,469
Deferred revenue		37,108		2,036
Property and equipment		—		229
Intangibles		—		452
Goodwill		357		1,444
Operating lease liabilities		1,126		—
Loss and loss adjustment reserves		11,971		—
Other		10		8
Net operating losses		87,802		50,119
Disallowed interest		5,098		6,385
Valuation allowance		(88,613)		(63,317)
Total deferred tax assets		57,682		939
Deferred tax liabilities
Property and equipment		(50)		—
Intangibles		(10,660)		—
Operating lease right-of-use assets		(1,091)		—
Deferred policy acquisition costs		(857)		—
Reinsurance balance due		(44,197)		—
Internally developed software		(1,180)		(943)
Total deferred tax liabilities		(58,035)		(943)
Net deferred tax liabilities	$	(353)	$	(4)

Schedule of reconciliation of the income tax (benefit) provision

	2021		2020		2019
Tax computed at federal statutory rate	$	24,492	$	11,702	$	21,677
State tax, net of federal tax benefit		5,531		2,097		1,475
Other		347		(803)		(515)
Loss on disposition		—		—		(1,049)
Compensation		12,821		1,148		(6,507)
Officer compensation		(5,306)		(176)		—
Debt transactions		(1,791)		824		(2,145)
Enacted tax rate changes		123		159		119
Return to provision		(648)		502		991
Valuation allowance		(25,296)		(13,764)		(14,142)
Income tax benefit (expense)	$	10,273	$	1,689	$	(96)