Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation between the tax provision computed at the federal statutory income tax rate and the Company's actual effective income tax rate are as follows:


	Year Ended December 31,
	2023		2022		2021
Federal statutory tax rate	21	%	21	%	21	%
R&D tax credit	1		2		2
Stock-based compensation and other permanent differences	(1)		2		—
Change in valuation allowance	(21)		(25)		(23)
Total	—	%	—	%	—	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of net deferred tax assets are as follows (in thousands):


	December 31,
	2023		2022
Deferred tax assets:
Net operating losses	$	80,273	$	65,197
Property and equipment	203		847
R&D tax credit	9,224		7,346
Stock-based compensation	3,829		2,082
Capitalized R&D expenses	20,644		12,971
Inventory	2,708		2,279
Lease liability	6,824		6,404
Accruals and reserves	2,713		2,758
Total deferred tax assets	126,418		99,884
Valuation allowance	(121,461)		(94,056)
Net deferred tax assets	4,957		5,828
Deferred tax liabilities:
Right-of-use assets	(4,957)		(5,828)
Total deferred tax liabilities	(4,957)		(5,828)
Net deferred tax assets	$	—	$	—

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the unrecognized tax benefit during the year is as follows (in thousands):


	December 31,
	2023		2022		2021
Beginning of year	$	2,700	$	1,917	$	1,407
Additions for tax positions related to:
Current year	842		783		510
Prior years	(150)		—		—
End of year	$	3,392	$	2,700	$	1,917