Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

The provision for income taxes consists of the following components:

Income taxes have been based on the following components of income (loss) before provision for income taxes:

The Irish federal statutory rate is reconciled to the effective tax rate as follows:

	Year ended December 31, 2020		Year ended December 31, 2019		Year ended December 31, 2018
Statutory rate	12.50%	$(6,408)	12.50%	$(12,836)	12.50%	$(9,573)
Impact of U.S. tax rate	(0.20)%	105	(0.07)%	72	(0.11)%	81
Impact of valuation allowance	(6.47)%	3,319	(12.91)%	13,258	(11.42)%	8,749
Research and development tax credit	0.14%	(71)	0.23%	(232)	0.45%	(341)
Adjustments for current tax of prior periods	(1.94)%	995	(0.24)%	241	0.00%	—
Fair value movements on derivative financial instruments	(4.34)%	2,227	0.00%	—	0.00%	—
Other, net	(1.13)%	577	0.06%	(59)	(2.03)%	1,557
Effective tax rate	(1.44)%	$743	(0.43)%	$444	(0.61)%	$472

The significant components of the Company’s deferred tax assets and liabilities are as follows:

	Year ended December 31,
	2020			2019			2018
Deferred tax assets
Share-based compensation	$	650		$	679		$	27
Depreciation		31			(24	)		(49	)
Net operating loss carryforwards		30,261			26,195			13,648
163(j) interest expense limitation		—			730			115
Other		41			84			665
Valuation allowance		(30,983	)		(27,664	)		(14,406	)
Total deferred tax assets	$	—		$	—		$	—

Deferred tax liabilities
		—			—			—
Total deferred tax assets	$	—		$	—		$	—

Net deferred tax asset	$	—		$	—		$	—

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows: