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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Loss from Continuing Operations Before Provision for Income Taxes | The components of loss before provision for income taxes consist of the following (in thousands):
|  | Years Ended December 31, |
(In Thousands) |  | 2022 |  |  | 2023 |
United States |  | $ | (7,525 | ) |  | $ | (9,829 | )
Foreign |  |  | (536 | ) |  |  | 13 |
Loss before provision for income taxes |  | $ | (8,061 | ) |  | $ | (9,816 | )
Provision for Income Taxes | The provision for income taxes consists of the following (in thousands):
|  | Years Ended December 31, |
(In Thousands) |  | 2022 |  |  | 2023 |
Current federal provision |  |  |  |  |  |
State |  | $ | 58 |  |  | $ | 78 |
Foreign |  |  | 39 |  |  |  | — |
Deferred provision (benefit) |  |  |  |  |  |
Federal |  |  | 67 |  |  |  | 25 |
State |  |  | 20 |  |  |  | (9 | )
Total income tax expense |  | $ | 184 |  |  | $ | 94 |
Computation of Income Tax Expense (Benefit) from Continuing Operations Using Federal Statutory Rate | The Company’s income tax expense differed from the amounts computed by applying the U.S. federal statutory rate to loss before provision for income taxes as a result of the following:
|  | Years Ended December 31, |
(In Thousands) |  | 2022 |  |  | 2023 |
. |  |  |  |  |  |
Income tax benefit at U.S. statutory rate |  | $ | (1,693 | ) |  | $ | (2,061 | )
State taxes, net of valuation allowance |  |  | 79 |  |  |  | (339 | )
Foreign tax differential |  |  | (150 | ) |  |  | 3 |
Non-deductible transaction costs |  |  | 16 |  |  |  | (29 | )
Stock-based compensation (1) |  |  | 190 |  |  |  | 101 |
Gain on CARES Act loan |  |  | 32 |  |  |  | — |
Valuation allowance |  |  | 1,815 |  |  |  | 2,307 |
Tax credits |  |  | (237 | ) |  |  | (282 | )
Other expenses |  |  | 132 |  |  |  | 394 |
Total income tax expense |  | $ | 184 |  |  | $ | 94 |
(1) Includes non-deductible stock-based compensation and excess tax benefits and shortfalls from stock-based compensation.
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below and reflects the 21% U.S. federal statutory rate for 2022 and 2023 (in thousands):
|  | Years Ended December 31, |
(In Thousands) |  | 2022 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Accrued liabilities not currently deductible |  | $ | 434 |  |  | $ | 559 |
Intangible assets- excess of financial statement over tax amortization |  |  | 3,341 |  |  |  | 2,096 |
Stock-based compensation |  |  | 675 |  |  |  | 741 |
Federal net operating and capital losses |  |  | 35,724 |  |  |  | 42,774 |
State, local and foreign net operating and capital loss carryforwards |  |  | 5,326 |  |  |  | — |
Research & experimental tax and other credit carryforwards |  |  | 5,421 |  |  |  | 5,612 |
Lease liability |  |  | 426 |  |  |  | 416 |
Capitalized research and development |  |  | 1,054 |  |  |  | 1,764 |
Other |  |  | 460 |  |  |  | 337 |
Gross deferred tax assets |  |  | 52,861 |  |  |  | 54,299 |
Valuation allowance |  |  | (51,795 | ) |  |  | (54,105 | )
Net deferred tax assets |  | $ | 1,066 |  |  | $ | 194 |
Deferred tax liabilities: |  |  |  |  |  |
Intangible assets-excess of tax over financial statement amortization |  |  | (1,107 | ) |  |  | — |
Right-of-use lease asset |  |  | (192 | ) |  |  | (404 | )
Other |  |  | — |  |  |  | (39 | )
Net deferred tax liabilities |  | $ | (233 | ) |  | $ | (249 | )
Summary of Activity Related to Tax Contingencies Recorded As an Offset to Deferred Tax Assets | The following table summarizes activity related to tax contingencies from January 1, 2022 to December 31, 2023 which are recorded as an offset to deferred tax assets (in thousands):
(In Thousands) |  |  |
Gross tax contingencies—January 1, 2022 |  | $ | 1,382 |
Gross increases to current period tax positions |  |  | 2 |
Gross decreases to tax positions associated with prior periods |  |  | — |
Gross tax contingencies—December 31, 2022 |  |  | 1,384 |
Gross increases to current period tax positions |  |  | 25 |
Gross tax contingencies—December 31, 2023 |  | $ | 1,409 |

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