Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.24.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Taxes  
Schedule of domestic and foreign components of loss before provision for income taxes

(in thousands)

    

2023

    

2022

Domestic

$

(18,562)

$

(16,149)

Foreign

 

(155)

 

Total

$

(18,717)

$

(16,149)

Schedule of components of the income tax expense

Year Ended

Year Ended

December 31, 

December 31, 

(in thousands)

    

2023

    

2022

Current:

 

  

 

  

Federal

$

$

State

 

4

 

2

Foreign

 

 

Total current provision for income taxes

$

4

$

2

Deferred:

 

 

Federal

 

 

State

 

 

Foreign

 

 

Total deferred provision for income taxes

 

 

Total

$

4

$

2

Schedule of deferred tax assets

    

Year Ended

    

Year Ended

December 31, 

December 31, 

2023

2022

Deferred tax assets:

Net operating loss

$

20,268

$

17,664

Accruals and reserves

 

840

 

201

Amortization of intangible assets

 

3,457

 

2,196

Stock based compensation

821

758

Lease liability

167

53

Other

 

3

 

Gross deferred tax assets

 

25,556

 

20,872

Valuation allowance

 

(25,335)

 

(20,762)

Total deferred tax assets

 

221

 

110

Deferred tax liabilities:

 

 

Prepaid expenses

 

(59)

 

(62)

Right-of-use assets

(162)

(33)

Other

(15)

Total deferred tax liabilities

 

(221)

 

(110)

Net deferred tax assets

$

$

Schedule of provision for income taxes

Year Ended December 31, 

 

    

2023

    

2022

 

Effective tax rate reconciliation:

 

  

 

  

Income tax provision at statutory rate

 

21.0

%  

21.0

%

State taxes, net of federal benefit

 

 

Other permanent differences

 

1.3

 

3.5

Change in valuation allowance

 

(22.3)

 

(24.5)

Provision for income taxes

 

%  

%