Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Change in Valuation Allowance

The following table summarizes the change in the valuation allowance during 2020 and 2021 (in thousands):

Balance at December 31, 2019	$	17,639
Change during 2020		(4,542	)
Balance at December 31, 2020		13,097
Change during 2021		(855	)
Balance at December 31, 2021	$	12,242

Schedule of Components of Income Tax Expense (Benefit)

The reported tax expense varies from the amount that would be provided by applying the statutory U.S. Federal income tax rate to the income before income tax expense for the following reasons in each of the years ended December 31 (in thousands):

	2021			2020
Expected federal statutory tax expense	$	628		$	1,263
Increase (reduction) in taxes resulting from:
State income taxes recoverable		43			388
Non-deductible expenses (permanent differences)		(707	)		(193	)
Change in valuation allowance		(855	)		(4,542	)
Tax rate changes		876			(599	)
Other		(46	)		39
Income tax benefit	$	(61	)	$	(3,644	)

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred tax assets as of December 31, 2021 and 2020 are as follows in (thousands):

	2021			2020
Net operating loss carry forwards	$	16,824		$	17,623
Stock based compensation		1,095			1,007
Trade names and customer relationships		(741	)		(805	)
Equity method investments		(477	)		(478	)
Other		29			152
Gross deferred tax assets		16,730			17,499
Less: valuation allowance		(12,242	)		(13,097	)
Deferred tax assets, net of valuation allowance	$	4,488		$	4,402