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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Net Loss before Income Taxes

The following table presents the components of net loss before income taxes (in thousands):

			For the Years Ended December 31,
			2024						2023
United States			$	(48,656)					$	(59,713)
Non-U.S.			131						—
Loss before provision for income taxes			$	(48,525)					$	(59,713)

Schedule of Provision for Income Taxes

The provision for income taxes included in the consolidated statements of operations and comprehensive loss is comprised of the following (in thousands):

			For the Years Ended December 31,
			2024						2023
Current
Federal			$	—					$	—
State			6						—
Non-U.S.			—						—
Total current			6						—
Deferred:
Federal			—						—
State			—						—
Non-U.S.			—						—
Total deferred			$	—					$	—
Total provision			$	6					$	—

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the statutory federal rate and the Company’s effective tax rate, using a federal statutory rate of 21%:

			For the Years Ended December 31,
			2024						2023
Statutory federal income (benefit) rate			(21)		%				(21)		%
Increase (decrease) resulting from:
State income tax rate			(4)		%				(4)		%
Change in valuation allowance			37		%				29		%
Stock-based compensation			(4)		%				2		%
Tax credits			(7)		%				(6)		%
Other			—		%				—		%
Effective tax rate			—		%				—		%

Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and liabilities consisted of (in thousands):

			December 31,
			2024						2023
Deferred tax assets:
Net operating loss (“NOL”) carryforwards			$	31,417					$	23,111
R&D credit carryforwards			13,829						10,502
Stock-based compensation			2,646						2,083
Research and experimental expenditures under IRC Section 174			19,382						14,063
Lease liabilities			4,189						2,507
Disallowed interest expense			3,438						2,767
Accruals and other			1,335						1,064
			76,236						56,097
Valuation allowance			(62,492)						(44,606)
Total deferred tax assets			13,744						11,491
Deferred tax liabilities:
Property and equipment, net			(1,024)						(1,967)
Right of use assets, net			(3,936)						(2,496)
Capitalized internal-use software			(8,784)						(7,028)
Total deferred tax liabilities			$	(13,744)					$	(11,491)
Net deferred tax liabilities			$	—					$	—

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):

			For the Years Ended December 31,
			2024						2023
Balance at beginning of year			$	1,889					$	1,239
Tax positions related to the current year:
Additions			628						649
Reductions			—						—
Tax positions related to the prior year:
Additions			—						1
Reductions			(50)						—
Balance at end of year			$	2,467					$	1,889

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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

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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