Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.19.3.a.u2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of loss before income taxes, domestic and foreign
Our loss before provision (benefit for) income taxes was as follows (in thousands): 
  Year Ended December 31,
  2019 2018 2017
United States $ (11,751)   $ (10,653)   $ (22,994)  
Foreign (167)   (262)   79   
Loss before provision for income taxes $ (11,918)   $ (10,915)   $ (22,915)  
Components of provision for income taxes The components of the provision for income taxes are as follows (in thousands): 
  Year Ended December 31,
  2019 2018 2017
Current provision (benefit):
Federal $ —    $ —    $ —   
State      
Foreign 18    (13)   64   
Total current provision (benefit) 23    (8)   69   
Deferred provision (benefit):
Federal —    —    —   
State —    —    —   
Foreign (6)   (29)   12   
Total deferred provision (benefit) (6)   (29)   12   
Provision for (benefit from) income taxes $ 17    $ (37)   $ 81   
Reconciliation of provision for income taxes calculated at the statutory rate to provision for income taxes
Reconciliation of the provision for income taxes calculated at the statutory rate to our provision for (benefit from) income taxes is as follows (in thousands): 

  Year Ended December 31,
  2019 2018 2017
Tax benefit at federal statutory rate $ (2,503)   $ (2,292)   $ (7,791)  
State taxes (1,120)   222    48   
Research and development credits (693)   (499)   (399)  
Foreign operations taxed at different rates   (17)   (2)  
Stock-based compensation (3,606)   (2,587)   (216)  
Other nondeductible items 505    (3)   326   
Executive compensation 872    838    73   
Change in valuation allowance 6,561    4,301    (26,058)  
Change in statutory tax rate —    —    34,100   
Provision for (benefit from) income taxes $ 17    $ (37)   $ 81   
Significant components of our deferred tax assets and liabilities
Significant components of our deferred tax assets and liabilities are as follows (in thousands): 

  December 31,
  2019 2018
Deferred tax assets:
Net operating losses $ 68,422    $ 60,455   
Credits 8,494    7,174   
Deferred revenues 468    1,879   
Stock-based compensation 2,338    2,967   
Reserves and accruals 1,545    1,876   
Depreciation 1,358    1,376   
Intangible assets 2,159    2,557   
Capital losses 26    576   
Unrealized gain/loss 406    297   
Lease liability 5,974    —   
Other assets 92    83   
Total deferred tax assets: 91,282    79,240   
Valuation allowance (85,768)   (79,222)  
Deferred tax liabilities:
Right-of-use assets (5,514)   —   
Other (40)   (64)  
Total deferred tax liabilities: (5,554)   (64)  
Net deferred tax liabilities $ (40)   $ (46)  
Summary of federal, state and foreign NOL carryforwards and federal research and development tax credits
The following table sets forth our federal, state and foreign NOL carryforwards and federal research and development tax credits as of December 31, 2019 (in thousands): 
  December 31, 2019
  Amount
Expiration
Years
Net operating losses, federal $ 224,476    2022-2037
Net operating losses, federal $ 64,371    Do not expire
Net operating losses, state $ 124,881    2028-2039
Tax credits, federal $ 9,031    2022-2039
Tax credits, state $ 10,436    Do not expire
Net operating losses, foreign $ 536    Various
Reconciliation of the beginning and ending amount of unrecognized tax benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): 
  December 31,
  2019 2018 2017
Balance at beginning of year $ 9,980    $ 9,422    $ 8,566   
Additions based on tax positions related to current year 1,362    1,087    880   
Reductions to tax provision of prior years (12)   (529)   (24)  
Balance at end of year $ 11,330    $ 9,980    $ 9,422