XML 60 R30.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The tax provision for income taxes consisted of the following (in thousands):
| December 31,
| 2023 |  | 2022 |  |
Current tax provision: |  |  |  |  |
Federal | $ | 393 |  |  | $ | 248 |  |  |
State | 50 |  |  | 24 |  |  |
Total current tax provision | 443 |  |  | 272 |  |  |
Deferred tax provision: |  |  |  |  |
Federal | — |  |  | — |  |  |
State | — |  |  | — |  |  |
Total deferred tax provision | — |  |  | — |  |  |
Total tax provision | $ | 443 |  |  | $ | 272 |  |  |
Schedule of Reconciliation Between Federal Statutory and Provision For Income Taxes | The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  |
|  |  | (As Restated) |  |
Federal income taxes at 21% for 2023 and 2022 | $ | (4,723) |  |  | $ | (7,029) |  |  |
State income tax, net of federal benefit | (186) |  |  | (247) |  |  |
Nondeductible expenses | 260 |  |  | 415 |  |  |
Tax credits | (2,076) |  |  | (1,877) |  |  |
Rate change | (54) |  |  | 491 |  |  |
Change in valuation allowance | 6,373 |  |  | (19,684) |  |  |
Reserve for uncertain tax positions | 519 |  |  | (10,423) |  |  |
162m deferred tax asset limitation | 128 |  |  | 82 |  |  |
382 NOL and tax credit limitation | — |  |  | 37,513 |  |  |
Expired stock awards | 174 |  |  | 1,052 |  |  |
Other | 28 |  |  | (21) |  |  |
Income tax expense | $ | 443 |  |  | $ | 272 |  |  |
Schedule of Components of Net Deferred Tax Assets | Significant components of the Company’s net deferred tax assets are as follows (in thousands):
| December 31,
| 2023 |  | 2022
|  |  | (As Restated)
Deferred tax assets: |  |  |
Net operating losses | $ | 35,506 |  |  | $ | 42,043 |
Tax credits | 9,747 |  |  | 9,327 |
Intangibles | 136 |  |  | 160 |
Capitalized R&D | 25,871 |  |  | 14,706 |
Stock compensation | 1,424 |  |  | 1,385 |
Lease liabilities | 1,112 |  |  | 275 |
Deferred revenue | 5,951 |  |  | 5,620 |
Accrued indirect tax liabilities | 4,114 |  |  | 2,617 |
Other | 725 |  |  | 1,018 |
Total deferred tax assets | 84,586 |  |  | 77,151 |
Less valuation allowance | (83,086) |  |  | (76,713) |
Deferred tax assets, net of valuation allowance | 1,500 |  |  | 438 |
Deferred tax liabilities: |  |  |
Prepaid expenses | (214) |  |  | (189) |
Capitalized inventory costs | (244) |  |  | — |
Right-of-use assets | (1,042) |  |  | (249) |
Total deferred tax liabilities | (1,500) |  |  | (438) |
Net deferred tax assets | $ | — |  |  | $ | — |
Schedule of Reconciliation Amount of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for 2023 and 2022 is as follows (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  |
|  |  | (As Restated) |  |
Balance as of the beginning of the year | $ | 11,015 |  |  | $ | 23,990 |  |  |
Increases related to current year tax positions | 552 |  |  | 497 |  |  |
Decreases related to prior year tax positions | (47) |  |  | (13,472) |  |  |
Balance as of the end of the year | $ | 11,520 |  |  | $ | 11,015 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration