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Note 11 - Income Taxes
 3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

Note 11 — Income Taxes

 

The Company recorded a net income tax expense of $7 thousand for the three months ended March 31, 2024 and April 2, 2023. The difference between the estimated annual effective tax rate of 0.80% and the U.S. federal statutory tax rate of 21% is primarily due to the Company's valuation allowance movement in each period presented. It is more likely than not that the Company will not realize the federal, state, and certain foreign deferred tax assets as of March 31, 2024. As such, the Company continues to maintain a full valuation allowance against all of its US and certain foreign net deferred tax assets as of March 31, 2024.