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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Taxes  
Schedule of Components of Income Tax Expense (Benefit)

    

December 31,

2024

    

2023

Current provision (benefit):

  

  

Federal

$

$

State

Total current provision

Deferred tax provision (benefit):

Federal

(7,368)

(8,752)

State

(1,860)

(3,542)

Change in valuation allowance

9,228

12,294

Total deferred provision

Total provision (benefit) for income taxes

$

$

Schedule of Net deferred tax assets

    

December 31,

2024

    

2023

Deferred tax assets:

 

  

 

  

Net operating loss carryforwards

$

27,812

$

22,472

Research and development credits

 

10,950

 

8,144

Stock-based compensation

 

10,534

 

9,158

Deferred revenue

 

1,527

 

1,517

Lease liability

 

4,985

 

5,313

Tenant incentive

1,359

1,528

Accruals and other

 

1,912

 

2,092

Deferred tax liabilities:

 

 

  

ROU asset

 

(2,976)

 

(3,187)

Depreciation and other

 

(1,234)

 

(1,396)

 

54,869

 

45,641

Valuation allowance

 

(54,869)

 

(45,641)

Net deferred tax assets

$

$

Schedule of Income tax expense reconciled to the tax computed at statutory rates

    

Year Ended December 31,

2024

    

2023

    

Federal income taxes (benefit) at 21% statutory rate

$

(8,583)

$

(7,964)

State income taxes (benefit), net of Federal benefit

 

(2,561)

 

(2,901)

Stock compensation

 

550

 

(610)

Other permanent differences

299

Rate changes and other

 

1,067

 

(819)

Change in valuation allowance

 

9,228

 

12,294

Total Income Tax Expense

$

$