Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Components of Loss Before Income Taxes |
The components of loss before income taxes are as follows (in thousands):
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December 31, |
|
2021 |
|
2020 |
|
2019 |
Domestic |
$ |
(25,163) |
|
|
$ |
(29,166) |
|
|
$ |
(19,548) |
|
International |
(21,721) |
|
|
(12,063) |
|
|
(19,345) |
|
Total loss before income taxes |
$ |
(46,884) |
|
|
$ |
(41,229) |
|
|
$ |
(38,893) |
|
|
| Schedule of Components of Income Tax Provision (Benefit) |
The provision for (benefit from) income taxes consisted of the following (in thousands):
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December 31, |
|
2021 |
|
2020 |
|
2019 |
| Current: |
|
|
|
|
|
| Federal |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| State |
56 |
|
|
27 |
|
|
26 |
|
| Foreign |
828 |
|
|
538 |
|
|
(2,011) |
|
| Total |
884 |
|
|
565 |
|
|
(1,985) |
|
| Deferred: |
|
|
|
|
|
| Federal |
— |
|
|
— |
|
|
— |
|
| State |
— |
|
|
— |
|
|
— |
|
| Foreign |
— |
|
|
— |
|
|
— |
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| Total |
— |
|
|
— |
|
|
— |
|
Provision for (benefit from) income taxes
|
$ |
884 |
|
|
$ |
565 |
|
|
$ |
(1,985) |
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate (in thousands):
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December 31, |
|
2021 |
|
2020 |
|
2019 |
| Pre-tax loss |
$ |
(46,884) |
|
|
$ |
(41,229) |
|
|
$ |
(38,893) |
|
|
|
|
|
|
|
| Federal tax at statutory rate |
(9,846) |
|
|
(8,658) |
|
|
(8,168) |
|
| Stock-based compensation |
(3,102) |
|
|
24 |
|
|
172 |
|
| Revaluation of preferred warrants and option |
2,110 |
|
|
1,542 |
|
|
— |
|
| Foreign rate difference |
(5,382) |
|
|
(670) |
|
|
1,110 |
|
| Change in valuation allowance |
18,389 |
|
|
8,936 |
|
|
5,085 |
|
| State taxes |
(1,343) |
|
|
(785) |
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|
(414) |
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| Other |
58 |
|
|
176 |
|
|
230 |
|
| Tax expense (benefit) |
$ |
884 |
|
|
$ |
565 |
|
|
$ |
(1,985) |
|
|
| Schedule of Deferred Tax Assets and Liabilities |
Significant components of the Company’s net deferred tax assets and liabilities were as follows (in thousands):
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December 31, |
|
2021 |
|
2020 |
| Deferred tax assets: |
|
|
|
| Stock-based compensation |
$ |
2,756 |
|
|
$ |
1,380 |
|
| Accruals and reserves |
3,693 |
|
|
2,746 |
|
| Deferred revenue |
228 |
|
|
447 |
|
| Net operating loss carryforwards – domestic |
30,221 |
|
|
20,508 |
|
| Net operating loss carryforwards – foreign |
28,245 |
|
|
20,733 |
|
| Property and equipment |
307 |
|
|
291 |
|
| Operating lease liabilities |
2,529 |
|
|
— |
|
| Tax basis intangible assets |
3,202 |
|
|
2,921 |
|
|
71,181 |
|
|
49,026 |
|
| Valuation allowance |
(65,404) |
|
|
(47,015) |
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| Deferred tax assets, net of valuation allowance |
5,777 |
|
|
2,011 |
|
| Deferred tax liabilities: |
|
|
|
| Operating lease right-of-use assets |
(2,489) |
|
|
— |
|
| Deferred costs |
(3,074) |
|
|
(1,771) |
|
| Other |
(214) |
|
|
(240) |
|
|
(5,777) |
|
|
(2,011) |
|
| Net deferred tax assets/(liabilities) |
$ |
— |
|
|
$ |
— |
|
|
| Schedule of Unrecognized Tax Benefits |
A reconciliation of beginning and ending amount of unrecognized tax benefit was as follows (in thousands):
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December 31, |
|
2021 |
|
2020 |
|
2019 |
| Gross amount of unrecognized tax benefits as of the beginning of the year |
$ |
2,811 |
|
|
$ |
2,184 |
|
|
$ |
1,794 |
|
| Additions based on tax positions related to a prior year |
853 |
|
|
— |
|
|
61 |
|
| Additions based on tax positions related to the current year |
2,154 |
|
|
627 |
|
|
329 |
|
| Reductions based on tax positions related to a prior year |
(32) |
|
|
— |
|
|
— |
|
| Gross amount of unrecognized tax benefits as of the end of the year |
$ |
5,786 |
|
|
$ |
2,811 |
|
|
$ |
2,184 |
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