INCOME TAXES (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| INCOME TAXES |
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| Schedule of components of our income tax benefit for the periods |
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Year Ended December 31,
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2020
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2019
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2018
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Current income tax expense:
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Federal
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$
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—
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$
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—
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$
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—
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State
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63
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252
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377
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Total current income tax expense
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63
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252
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377
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Deferred income tax benefit:
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Federal
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—
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—
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—
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State
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—
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—
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—
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Total deferred income tax benefit
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—
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—
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—
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Income Tax Provision
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$
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63
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$
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252
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$
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377
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| Schedule of a reconciliation of the federal statutory rates to our effective tax rates |
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Year Ended December 31,
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2020
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2019
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2018
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U.S. Federal tax benefit at statutory rate
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21.0
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%
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21.0
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%
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21.0
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%
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State income taxes, net of federal benefit
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3.0
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3.2
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2.6
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Non-deductible expenses and other
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0.3
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(0.1)
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(0.9)
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Non-deductible warrant expenses
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—
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0.4
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(1.6)
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Loss on convertible note exchange
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(2.0)
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—
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—
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Share-based compensation
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0.3
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(0.4)
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0.4
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Deduction limitation on executive compensation
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(1.8)
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—
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—
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Change in valuation allowance, net
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(21.0)
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(25.2)
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(22.6)
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Research and development credits
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0.1
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1.0
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0.9
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Effective tax rate
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(0.1)
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%
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(0.1)
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%
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(0.2)
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%
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| Schedule of components of our deferred tax assets and liabilities |
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December 31,
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December 31,
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2020
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2019
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Deferred tax assets:
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Accrued and reserves
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$
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4,008
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$
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4,231
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Inventory
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10,554
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15,181
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Tax credits
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12,953
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10,880
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Lease Liabilities
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16,262
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14,800
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Net operating loss
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205,995
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149,141
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Total gross deferred tax assets
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249,772
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194,233
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Depreciation and amortization
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(2,746)
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(4,749)
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Goodwill
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(290)
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(114)
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Right-of-use assets
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(11,562)
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(14,507)
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Valuation allowance
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(235,174)
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(174,863)
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Net deferred tax assets
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$
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—
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$
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—
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| Schedule of tabular reconciliation of the total amounts of unrecognized tax benefits. |
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Year Ended December 31,
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2020
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2019
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2018
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Unrecognized tax benefits as of the beginning of the year
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$
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5,033
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$
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2,433
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$
|
862
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Increases related to prior year tax provisions
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182
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383
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197
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Decrease related to prior year tax provisions
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(888)
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(247)
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—
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Increase related to current year tax provisions
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1,812
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2,464
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1,374
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Unrecognized tax benefits as of the end of the year
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$
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6,139
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$
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5,033
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$
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2,433
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