Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.10.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Significant components of the provision for income taxes for the years ended December 31, 2018, 2017 and 2016 are as follows (in thousands):
  2018 2017
(as adjusted)
2016
(as adjusted)
Current:      
Federal $ (448) $ (91) $ (8)
State 126  14  39 
Total Current Provision (Benefit) $ (322) $ (77) $ 31 
Deferred:
Federal $ 1,070  $ (2,359) $ (1,451)
State 321  297  (281)
Foreign 115  (115) — 
Total Deferred Provision (Benefit) $ 1,506  $ (2,177) $ (1,732)
Total Tax Provision  $ 1,184  $ (2,254) $ (1,701)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the differences between the effective tax rate and the federal statutory tax rate for the years ended December 31, 2018, 2017 and 2016 is as follows:
  2018 2017
(as adjusted)
2016
Federal statutory tax rate 21.00  % 34.00  % 34.00  %
State income taxes, net of federal income tax benefit 11.01  % (4.96) % 3.43  %
Non-deductible expenses 3.80  % (17.57) % (1.88) %
Compensation expense (12.52) % (25.95) % (13.37) %
Transaction expenses 7.09  % —  % —  %
Deferred revaluation for Tax Cuts and Jobs Act —  % 116.24  % —  %
Adjustment due to adoption of Accounting Standards (13.84) % —  % —  %
Foreign Tax Rate Differential 7.20  % (12.99) % —  %
Other, net (1.21) % (3.72) % 0.73  %
Valuation allowance 8.44  % —  % —  %
Effective tax rate 30.97  % 85.05  % 22.91  %
Schedule of Deferred Tax Assets and Liabilities
At December 31, 2018 and 2017, our current and non-current deferred income tax assets and liabilities consisted of the following (in thousands):
  2018 2017
(as adjusted)
Net non-current deferred income tax liability:    
Allowance for doubtful accounts $ 634  $ 170 
Accrued compensation 1,935  943 
Other accruals 156  84 
Other 502  (274)
Net operating loss carry-forwards 17,825  12,282 
Nonqualified stock options and warrants 1,613  1,342 
Accumulated depreciation and amortization (44,799) (21,235)
Net deferred income tax liabilities (22,134) (6,688)
Less: Valuation allowance (323) — 
Total Non-Current Deferred Income Tax Liability $ (22,457) $ (6,688)
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible
The following is our unrecognized tax benefits as of December 31, 2018 (in thousands):
Year Ended December 31, 
2018
Unrecognized tax benefits - December 31, 2017  $ — 
Increases from acquisitions  632 
Settled positions  — 
Statute expirations  — 
Unrecognized tax benefits - December 31, 2018  $ 632