Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Income (Loss) Before Income Taxes and Components of Provision (Benefit) for Income Taxes |
The following table presents the income (loss) before income taxes for domestic and foreign operations, and the components of the provision (benefit) for income taxes for the years ended December 31:
|
|
2020
|
|
|
2019
|
|
|
Domestic loss
|
$
|
(31,390
|
)
|
|
$
|
(26,964
|
)
|
|
Foreign subsidiaries income
|
|
937
|
|
|
|
2,518
|
|
|
Income (loss) before income taxes
|
$
|
(30,453
|
)
|
|
$
|
(24,446
|
)
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Current income tax expense:
|
|
|
|
|
|
|
|
|
Federal
|
$
|
(53
|
)
|
|
$
|
—
|
|
|
State
|
|
5
|
|
|
|
(3
|
)
|
|
Foreign
|
|
(494
|
)
|
|
|
1,282
|
|
|
Total Current
|
|
(542
|
)
|
|
|
1,279
|
|
|
|
|
|
|
|
|
|
|
|
Deferred income tax expense:
|
|
|
|
|
|
|
|
|
Federal
|
|
54
|
|
|
|
—
|
|
|
State
|
|
—
|
|
|
|
—
|
|
|
Foreign
|
|
(33
|
)
|
|
|
109
|
|
|
Total Deferred
|
|
21
|
|
|
|
109
|
|
|
Total provision (benefit) for income taxes
|
$
|
(521
|
)
|
|
$
|
1,388
|
|
|
| Schedule of Effective Tax Rate Differs from Federal Statutory Rate |
The Company’s effective tax rate differs from the federal statutory rate due to the following for the years ended December 31:
|
|
2020
|
|
|
2019
|
|
|
Statutory federal income tax rate
|
|
21
|
%
|
|
|
21
|
%
|
|
State income taxes, net of federal tax benefits
|
|
-0.54
|
%
|
|
|
0.61
|
%
|
|
Stock compensation
|
|
-0.74
|
%
|
|
|
-1.27
|
%
|
|
Foreign rate differential
|
|
2.38
|
%
|
|
|
-3.53
|
%
|
|
Tax credits
|
|
0.00
|
%
|
|
|
0.68
|
%
|
|
GILTI Inclusion
|
|
-0.81
|
%
|
|
|
-0.76
|
%
|
|
Section 382 limits
|
|
-27.71
|
%
|
|
|
0.00
|
%
|
|
Non-deductible expenses
|
|
-0.17
|
%
|
|
|
-4.58
|
%
|
|
Valuation allowance
|
|
8.30
|
%
|
|
|
-14.58
|
%
|
|
Other, net
|
|
0.00
|
%
|
|
|
-3.25
|
%
|
|
Effective tax rate
|
|
1.71
|
%
|
|
|
-5.68
|
%
|
|
| Schedule of Significant Components of Deferred Tax Assets and Liabilities |
The following table presents the significant components of the Company’s deferred tax assets and liabilities at December 31:
|
|
2020
|
|
|
2019
|
|
|
Gross deferred tax assets:
|
|
|
|
|
|
|
|
|
Net operating loss carryforward
|
$
|
12,684
|
|
|
$
|
9,587
|
|
|
Tax credits
|
|
92
|
|
|
|
725
|
|
|
Accruals and reserves
|
|
2,113
|
|
|
|
2,461
|
|
|
Property and equipment
|
|
83
|
|
|
|
—
|
|
|
Alternative minimum tax credits
|
|
21
|
|
|
|
89
|
|
|
Total gross deferred tax assets
|
|
14,993
|
|
|
|
12,862
|
|
|
Less: valuation allowance
|
|
(14,281
|
)
|
|
|
(11,814
|
)
|
|
Total deferred tax assets net of valuation allowance
|
|
712
|
|
|
|
1,048
|
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
Property and equipment
|
|
—
|
|
|
|
(37
|
)
|
|
Accrual and reserves
|
|
(678
|
)
|
|
|
(1,025
|
)
|
|
Net deferred tax assets (liabilities)
|
$
|
34
|
|
|
$
|
(14
|
)
|
|
| Schedule of Estimate of Cumulative Foreign Earnings |
Estimate of cumulative foreign earnings is as follows as of December 31:
|
|
2020
|
|
|
2019
|
|
|
China
|
$
|
4,195
|
|
|
$
|
5,818
|
|
|
India
|
|
4,961
|
|
|
|
4,580
|
|
|
Total
|
$
|
9,156
|
|
|
$
|
10,398
|
|
|
| Schedule of Net Operating Loss Carryovers |
The Company had net operating loss carryovers (NOL) for federal and state income tax purposes of approximately $56,805 and $12,418, respectively, as of December 31, 2020. Approximately $9,938 of federal NOLs will expire beginning in 2037, while approximately $46,866 generated beginning in 2018 have an indefinite life. The state NOLs will expire if unused in years 2026 through 2040:
|
|
2020
|
|
|
2019
|
|
|
Federal NOL
|
$
|
56,805
|
|
|
$
|
42,415
|
|
|
State NOL
|
$
|
12,418
|
|
|
$
|
11,492
|
|
|
| Schedule of Research and Development Credit Carryforwards |
The Company had research and development (“R&D”) credit carryforwards as follows as of December 31:
|
|
2020
|
|
|
2019
|
|
|
Federal R&D credits
|
$
|
—
|
|
|
$
|
632
|
|
|
California R&D credits
|
$
|
117
|
|
|
$
|
117
|
|
|
| Summary of Activity Related to Unrecognized Tax Benefits |
The following table summarizes the activity related to unrecognized tax benefits as follows as of December 31:
|
In thousands
|
2020
|
|
|
2019
|
|
|
Unrecognized benefit-beginning of period
|
$
|
6.900
|
|
|
$
|
5,957
|
|
|
Gross increases-prior period tax positions
|
|
96
|
|
|
|
400
|
|
|
Gross (decreases)-prior period tax positions
|
|
(5,818
|
)
|
|
|
—
|
|
|
Settlements prior period tax positions
|
|
(95
|
)
|
|
|
—
|
|
|
Gross increases -current period tax positions
|
|
107
|
|
|
|
543
|
|
|
Unrecognized benefit-end of period
|
$
|
1,190
|
|
|
$
|
6,900
|
|
|