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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Domestic and Foreign Components of Net Loss Before Income Taxes

The components of net loss before income taxes are as follows (in thousands):

		Year Ended December 31,
		2023				2022
U.S.		$	(81,259	)		$	(38,267	)
Foreign			916				666
Loss before income taxes		$	(80,343	)		$	(37,601	)

Reconciliation of Effective Tax Rate and Statutory Federal Income Tax Rate

The reconciliation between the effective tax rate and the statutory federal income tax rate for the years ended December 31, 2023 and 2022 is as follows:

		Year Ended December 31,
		2023				2022
U.S. statutory federal income tax rate			21.0	%			21.0	%
State income taxes, net of federal income tax benefit			7.1	%			6.9	%
Change in fair value of financial instruments			3.0	%			0.0	%
Tax credits			0.4	%			1.0	%
Valuation allowance			(30.5	)%			(29.0	)%
Non-deductible expenses			(0.9	)%			0.0	%
Other			(0.4	)%			(0.2	)%
Effective tax rate			(0.3	)%			(0.3	)%

Schedule of Deferred Tax Assets

Significant components of the Company’s deferred tax assets are as follows (in thousands):

		December 31,
		2023				2022
U.S. federal and state net operating loss carryforwards		$	36,092			$	25,051
Capitalized start-up and research and development expenses			10,868				5,377
Research and development tax credits			2,275				1,780
Interest expense			3,918				—
Lease liability			659				838
Depreciation			203				236
Bad debt reserve			3,461				—
Other temporary differences			2,145				994
Total deferred tax assets			59,621				34,276
Valuation allowance			(57,985	)			(33,484	)
Net deferred tax assets			1,636				792
Right of use asset			(623	)			(792	)
Other deferred tax liability			(1,013	)			—
Total deferred tax liabilities			(1,636	)			(792	)
Net deferred tax asset		$	—			$	—

Summary of Valuation Allowance

Changes to the Company’s valuation allowance are as follows (in thousands):

		Year Ended December 31,
		2023				2022
Beginning balances		$	33,484			$	22,579
Additions charged to net loss			24,501				10,905
Ending balances		$	57,985			$	33,484

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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