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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Loss Before Income Taxes, Domestic and Foreign | Our loss before provision for income taxes were as follows (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
United States | $ | (76,169) |  |  | $ | (33,269) |  |  | $ | (21,037) |
Foreign | (2) |  |  | (47) |  |  | (53) |
Loss before provision for income taxes | $ | (76,171) |  |  | $ | (33,316) |  |  | $ | (21,090) |
Components of Provision for Income Taxes | The components of the provision for income taxes are as follows (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current provision: |  |  |  |  |
State | $ | 27 |  |  | $ | 141 |  |  | $ | — |
Foreign | 42 |  |  | 142 |  |  | 198 |
Total current provision | 69 |  |  | 283 |  |  | 198 |
Deferred benefit: |  |  |  |  |
Foreign | — |  |  | (7) |  |  | (9) |
Total deferred benefit | — |  |  | (7) |  |  | (9) |
Provision for income taxes | $ | 69 |  |  | $ | 276 |  |  | $ | 189 |
Reconciliation of Provision for Income Taxes Calculated at the Statutory Rate to Provision for Income Taxes | Reconciliation of the provision for income taxes calculated at the statutory rate to our provision for income taxes is as follows (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Tax benefit at federal statutory rate | $ | (15,995) |  |  | $ | (6,996) |  |  | $ | (4,429) |
State taxes | (2,208) |  |  | (494) |  |  | (2,235) |
Research and development credits | (925) |  |  | (1,793) |  |  | (1,132) |
Foreign operations taxed at different rates | — |  |  | 78 |  |  | 80 |
Stock-based compensation | 1,967 |  |  | 239 |  |  | (2,698) |
Other nondeductible items | 438 |  |  | (238) |  |  | 711 |
Executive compensation | 152 |  |  | 80 |  |  | 257 |
Change in valuation allowance | 16,640 |  |  | 9,400 |  |  | 9,635 |
Provision for income taxes | $ | 69 |  |  | $ | 276 |  |  | $ | 189 |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2023 |  | 2022
Deferred tax assets: |  |  |
Net operating losses | $ | 72,586 |  |  | $ | 69,915 |
Credits | 16,412 |  |  | 14,806 |
Deferred revenues | 176 |  |  | 1,123 |
Stock-based compensation | 4,445 |  |  | 4,967 |
Reserves and accruals | 2,774 |  |  | 2,487 |
Property and Equipment | 457 |  |  | — |
Intangible assets | 532 |  |  | 866 |
Capital losses | 424 |  |  | 413 |
R&D Capitalization | 26,821 |  |  | 16,502 |
Lease liability | 3,608 |  |  | 9,586 |
Other assets | 2,542 |  |  | 125 |
Total deferred tax assets: | 130,777 |  |  | 120,790 |
Valuation allowance | (127,835) |  |  | (111,183) |
Deferred tax liabilities: |  |  |
Right-of-use assets | (2,958) |  |  | (8,624) |
Property and Equipment | — |  |  | (736) |
Other | — |  |  | (263) |
Total deferred tax liabilities: | (2,958) |  |  | (9,623) |
Net deferred tax liabilities | $ | (16) |  |  | $ | (16) |
Summary of Federal, State and Foreign NOL Carryforwards and Federal Research and Development Tax Credits | The following table sets forth our federal, state and foreign NOL carryforwards and federal research and development tax credits as of December 31, 2023 (in thousands):
| December 31, 2023
| Amount |  | Expiration Years
Net operating losses, federal | $ | 182,918 |  |  | 2026-2037
Net operating losses, federal | $ | 118,569 |  |  | Do not expire
Net operating losses, state | $ | 147,481 |  |  | 2028-2041
Tax credits, federal | $ | 17,815 |  |  | 2023-2041
Tax credits, state | $ | 19,223 |  |  | Do not expire
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| December 31,
| 2023 |  | 2022 |  | 2021
Balance at beginning of year | $ | 18,571 |  |  | $ | 15,261 |  |  | $ | 12,683 |
Additions based on tax positions related to current year | 2,164 |  |  | 3,553 |  |  | 2,206 |
Additions to tax position of prior years | — |  |  | — |  |  | 372 |
Reductions to tax position of prior years | (531) |  |  | (243) |  |  | — |
Balance at end of year | $ | 20,204 |  |  | $ | 18,571 |  |  | $ | 15,261 |

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