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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of differences between the carrying amount of assets and liabilities for financial reporting purposes and their respective income tax basis | Deferred income taxes are accounted for using the balance sheet approach, which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as measured by enacted state and federal tax rates. Deferred tax assets and deferred tax liabilities are as follows:
(in thousands) | December 31, 2024 |  | December 31, 2023
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 37,323 |  |  | $ | 41,454 |
Inventory write-down | 423 |  |  | 347 |
Allowance for doubtful accounts | 204 |  |  | 87 |
Lease obligations | 5,489 |  |  | 5,867 |
Stock-based compensation | 7,371 |  |  | 6,084 |
Capitalized research and development costs | 14,785 |  |  | 11,530 |
Debt derivative liabilities | 622 |  |  | 772 |
Charitable contributions | 31 |  |  | 3 |
Accrued compensation | 49 |  |  | 56 |
Total deferred tax assets | 66,297 |  |  | 66,200 |
Deferred tax liabilities: |  |  |
Depreciation | (949) |  |  | (978) |
Amortization | (99) |  |  | (51) |
Right-of-use assets | (3,708) |  |  | (4,031) |
Contract liabilities | (86) |  |  | — |
Total deferred tax liabilities | (4,842) |  |  | (5,060) |
Net deferred tax assets | 61,455 |  |  | 61,140 |
Valuation allowance | $ | (61,455) |  |  | $ | (61,140) |
Schedule of effective income tax rate reconciliation | The Company’s effective income tax rate differs from the statutory federal income tax rate as follows:
| December 31,
| 2024 |  | 2023 |  | 2022
Federal tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes - net of Federal benefit | 1.0 |  |  | 1.5 |  |  | 4.1 |
Permanent items and other deductions | (16.1) |  |  | (8.7) |  |  | (7.1) |
Other | (2.7) |  |  | (0.8) |  |  | (0.5) |
Valuation allowance | (3.2) |  |  | (13.0) |  |  | (17.5) |
Effective income tax rate | — | % |  | — | % |  | — | %

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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