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Income Taxes (Tables)

12 Months Ended

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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