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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Summary of reconciliation of income taxes computed using the U.S. federal statutory rate

A reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

U.S.

 

$

(3,060

)

 

$

(5,181

)

International

 

 

3

 

 

 

(82

)

Loss before benefit from income taxes

 

$

(3,057

)

 

$

(5,263

)

Income tax benefit using U.S. federal statutory rate

 

$

(642

)

 

$

(1,105

)

State income taxes, net of federal benefit

 

 

(155

)

 

 

(5

)

Non-deductible share-based compensation

 

 

22

 

 

 

(9

)

Share-based compensation - shortfalls/(windfalls)

 

 

70

 

 

 

1,196

 

Permanent differences

 

 

(4

)

 

 

1

 

Tax credits

 

 

(11

)

 

 

(500

)

Other

 

 

0

 

 

 

17

 

Change in valuation allowance

 

 

720

 

 

 

405

 

 

$

 

 

$

 

Summary of deferred tax assets (liabilities)

Deferred tax assets (liabilities) consist of the following as of December 31, 2024 and 2023 (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Deferred tax assets:

 

 

 

 

 

 

Net operating loss carryforwards

 

$

53,281

 

 

$

48,535

 

Tax credit carryforwards

 

 

10,383

 

 

 

10,388

 

Share-based compensation

 

 

7,122

 

 

 

7,071

 

Capitalized research and development

 

 

12,370

 

 

 

16,440

 

Accruals and reserves

 

 

 

 

 

2

 

Total deferred tax assets

 

$

83,156

 

 

$

82,436

 

 

 

 

 

 

 

Valuation allowance

 

 

(83,156

)

 

 

(82,436

)

Net deferred tax assets

 

$

 

 

$