Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Income Tax Provision (Benefit)

The income tax provision (benefit) is comprised of the following:

	Year Ended December 31, 2023			Year Ended December 31, 2022
Current:
Federal	$	—		$	—
State		2			3
Foreign		—			—
		2			3
Deferred:
Federal		(79	)		15,920
State		(2	)		109
		(81	)		16,029
Total income tax (benefit) provision	$	(79	)	$	16,032

Effective Income Tax Rate Reconciliation

A reconciliation of the United States federal statutory income tax rate to our effective income tax rate is as follows:

	Year Ended December 31, 2023			Year Ended December 31, 2022
United States federal statutory rate		21.00	%		21.00	%
State taxes, net of federal benefit		(0.01	)%		(0.55	)%
Valuation allowance		(20.31	)%		(91.21	)%
Stock based compensation		(0.58	)%		(9.44	)%
R&D Credit		2.20	%		1.22	%
Other		(2.03	)%		(0.29	)%
Effective income tax rate		0.28	%		(79.27	)%

Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) consist of the following:

	As of December 31, 2023			As of December 31, 2022
Deferred tax assets:
Reserves and accruals	$	65		$	147
Research and development credits and other credits		1,110			430
Net operating loss carry forward		15,262			11,988
Stock based compensation		4,360			5,018
Other		2,382			970
Total deferred tax assets	$	23,179		$	18,553
Valuation allowance		(23,179	)		(18,553	)
Deferred tax assets after valuation allowance		—			—
Total deferred tax liability – depreciation and amortization		—			—
Net deferred tax assets	$	—		$	—