| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Components of (Loss) Income before Provision (Benefit) for Income Taxes |
The components of income before (benefit) provision for income taxes are as follows (in thousands):
|
|
|
Year Ended December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
United States |
|
$ |
4,305 |
|
|
$ |
38,719 |
|
|
$ |
16,517 |
|
|
Foreign |
|
|
110,316 |
|
|
|
1,086 |
|
|
|
(64 |
) |
|
Total |
|
$ |
114,621 |
|
|
$ |
39,805 |
|
|
$ |
16,453 |
|
|
Components of Provision (Benefit) for Income Taxes |
The components of the (benefit) provision for income taxes are as follows (in thousands):
|
|
|
Year Ended December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Current income tax (benefit) provision |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
(8,090 |
) |
|
$ |
10,074 |
|
|
$ |
2,797 |
|
|
State |
|
|
53 |
|
|
|
265 |
|
|
|
129 |
|
|
Foreign |
|
|
3,414 |
|
|
|
135 |
|
|
|
— |
|
|
Total current income tax (benefit) provision |
|
|
(4,623 |
) |
|
|
10,474 |
|
|
|
2,926 |
|
|
Deferred income tax (benefit) provision |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
(5,797 |
) |
|
|
(5,861 |
) |
|
|
— |
|
|
State |
|
|
(6,168 |
) |
|
|
(5,328 |
) |
|
|
— |
|
|
Foreign |
|
|
(368 |
) |
|
|
— |
|
|
|
7 |
|
|
Total deferred income tax (benefit) provision |
|
|
(12,333 |
) |
|
|
(11,189 |
) |
|
|
7 |
|
|
Total income tax (benefit) provision |
|
$ |
(16,956 |
) |
|
$ |
(715 |
) |
|
$ |
2,933 |
|
|
Provision for Income Taxes Computed at Statutory Federal Income Tax Rate to (Benefit) Provision for Income Taxes |
A reconciliation of the provision for income taxes computed at the statutory federal income tax rate to the (benefit) provision for income taxes as reflected in the consolidated financial statements is as follows:
|
|
|
Year Ended December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Provision for income taxes at statutory rate |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
(Decreases) increases resulting from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal tax credits |
|
|
(4.1 |
) |
|
|
(9.5 |
) |
|
|
(3.3 |
) |
|
Change in valuation allowance |
|
|
0.2 |
|
|
|
(24.9 |
) |
|
|
(14.9 |
) |
|
State tax expense, net of federal benefit |
|
|
(3.8 |
) |
|
|
(5.3 |
) |
|
|
0.9 |
|
|
Meals and entertainment |
|
|
0.1 |
|
|
|
0.2 |
|
|
|
0.1 |
|
|
Stock-based compensation expense |
|
|
(18.0 |
) |
|
|
0.6 |
|
|
|
3.5 |
|
|
Change in fair value of preferred stock warrants |
|
|
1.0 |
|
|
|
1.9 |
|
|
|
1.0 |
|
|
Non-deductible interest |
|
|
— |
|
|
|
0.1 |
|
|
|
0.1 |
|
|
Domestic production activity deduction |
|
|
— |
|
|
|
(2.2 |
) |
|
|
(2.3 |
) |
|
Change in uncertain tax positions |
|
|
1.9 |
|
|
|
2.4 |
|
|
|
— |
|
|
Foreign rate differential |
|
|
(31.8 |
) |
|
|
0.6 |
|
|
|
— |
|
|
Foreign rate inclusion |
|
|
4.5 |
|
|
|
0.2 |
|
|
|
— |
|
|
Other |
|
|
0.2 |
|
|
|
(0.9 |
) |
|
|
(2.3 |
) |
|
Effective income tax rate |
|
|
(14.8 |
)% |
|
|
(1.8 |
)% |
|
|
17.8 |
% |
|
Net Deferred Tax Assets |
Significant components of the Company’s net deferred tax assets at December 31, 2016 and 2015, are as follows (in thousands):
|
|
|
December 31, |
|
|
|
|
2016 |
|
|
2015 |
|
|
Deferred tax assets: |
|
|
|
|
|
|
|
|
|
Accrued expenses |
|
$ |
3,726 |
|
|
$ |
2,433 |
|
|
Net operating loss carryforwards |
|
|
5,472 |
|
|
|
4,955 |
|
|
Credit carryforwards |
|
|
11,461 |
|
|
|
5,032 |
|
|
Stock-based compensation |
|
|
3,950 |
|
|
|
— |
|
|
Other |
|
|
880 |
|
|
|
605 |
|
|
Total deferred tax assets |
|
$ |
25,489 |
|
|
$ |
13,025 |
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
(1,142 |
) |
|
|
(990 |
) |
|
Stock-based compensation |
|
|
— |
|
|
|
(97 |
) |
|
Other |
|
|
(80 |
) |
|
|
(195 |
) |
|
Total deferred tax liabilities |
|
|
(1,222 |
) |
|
|
(1,282 |
) |
|
Valuation allowance |
|
|
(734 |
) |
|
|
(554 |
) |
|
Net deferred tax assets |
|
$ |
23,533 |
|
|
$ |
11,189 |
|
|
Summarizes Changes in Deferred Tax Asset Valuation Allowance |
The table below summarizes changes in the deferred tax asset valuation allowance (in thousands):
|
Year Ended December 31, |
|
Beginning
Balance |
|
|
Additions |
|
|
Reductions |
|
|
Ending
Balance |
|
|
2014 |
|
$ |
12,946 |
|
|
|
— |
|
|
|
(2,485 |
) |
|
$ |
10,461 |
|
|
2015 |
|
$ |
10,461 |
|
|
|
— |
|
|
|
(9,907 |
) |
|
$ |
554 |
|
|
2016 |
|
$ |
554 |
|
|
|
180 |
|
|
|
— |
|
|
$ |
734 |
|
|
Changes in Gross Unrecognized Tax Benefits |
The aggregate changes in gross unrecognized tax benefits during the years ended December 31, 2016 and 2015 were as follows (in thousands):
|
Balance at December 31, 2014 |
|
$ |
— |
|
|
Increases for the tax positions taken during the year |
|
|
940 |
|
|
Balance at December 31, 2015 |
|
$ |
940 |
|
|
Increases for the tax positions taken during the year |
|
|
2,138 |
|
|
Balance at December 31, 2016 |
|
$ |
3,078 |
|
|