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Note 11 - Income Taxes
 9 Months Ended
Sep. 29, 2024
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

Note 11 — Income Taxes

 

The Company recorded a net income tax expense of $13 thousand and $4 thousand for the three months ended September 29, 2024 and October 1, 2023, respectively. Additionally, the Company recorded a net income tax expense of $14 thousand and $4 thousand for the nine months ended September 29, 2024 and October 1, 2023, respectively. The difference between the estimated annual effective tax expense of 0% 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 September 29, 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 September 29, 2024.