Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2022

Other Long-Term Liabilities

Other Long-Term Liabilities

9. Other Long-Term Liabilities

The Company’s other long-term liabilities are summarized as follows (in thousands):

	December 31,
	2022		2021
Research and development incentive credit	$	3,599	$	—
Lease obligation, long-term portion (see Note 6)		672		1,124
Conditional economic incentive grants		250		250
Other		60		80
Total other long-term liabilities	$	4,581	$	1,454

R&D incentive credit Program

During the year ended December 31, 2022, the Company received a total of $3.6 million in cash for research and development (“R&D”) incentive credit related to R&D costs that the Company incurred during the fiscal years 2021 and 2020 through the participation in the Australian research and development incentive credit program administered through the Australian Tax Office. The Company recorded the receipt as long-term liability until there is reasonable assurance that the Company will comply with the conditions attached to the incentive credit.

Economic Incentive Grants

The Company has two conditional economic incentive grants for a total of $250,000 from Montgomery County, Maryland and the State of Maryland. The Montgomery County grant was received in May 2018, with a term expiring on February 28, 2028. The State of Maryland grant was received in October 2019, with a 10-year term expiring on December 31, 2029. These grants are conditional primarily based on the Company maintaining its current headquarter locations in addition to employing a required number of employees at different reporting dates through the term of the

grants. The Company is accruing 3% interest on both grants and has recorded approximately $8,000 in interest expense for each of the years ended December 31, 2022 and 2021.