Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.23.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Domestic and Foreign Components of Pre-tax Loss
The domestic and foreign components of pre-tax loss for the years ended December 31, 2022 and 2021 were as follows:
Years Ended December 31,
2022 2021
Domestic $ (13,749) $ (9,069)
Foreign (1,331) (695)
Loss before income taxes $ (15,080) $ (9,764)
Schedule of Income Tax Expense (Benefit) Differed from Amounts Computed by Applying Statutory Federal Income Tax Rate to Pretax Income (Loss)
Income tax expense (benefit) for the years ended December 31, 2022 and 2021 differed from the amounts computed by applying the statutory federal income tax rate of 21% to pretax loss as a result of the following:

Years Ended December 31,
2022 2021
Federal tax at statutory rate 21.0  % 21.0  %
State tax, net of federal tax effect —  — 
R&D credit 0.7  0.4 
Change in valuation allowance (15.1) (31.3)
Unrealized gain on warrant 1.8  8.5 
PPP Loan Forgiveness —  2.4 
Stock-based compensation (7.7) (2.8)
Other (1.8) 0.9 
Foreign exchange 1.1  0.9 
Total tax expense (benefit) —  % —  %
Schedule of Tax Effects of Temporary Differences and Related Deferred Tax Assets and Liabilities
The tax effects of temporary differences and related deferred tax assets and liabilities as of December 31, 2022 and 2021 were as follows:
December 31,
2022 2021
Deferred tax assets:
Depreciation and other $ 249  $ 257 
Net operating loss carryforwards 48,829  47,579 
Research and development tax credits 2,034  1,899 
Accruals and reserves 356  395 
Capitalized research and development costs 640  — 
Deferred revenue 213  377 
Stock compensation expense 1,670  2,763 
Lease assets 236  30 
Other 22  20 
Deferred tax liabilities:
Lease liabilities (208) (28)
Prepaid expenses (41) (32)
Less: Valuation allowance (54,000) (53,260)
Net deferred tax asset (liability) $ —  $ — 
Schedule of Reconciliation of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2022 and 2021, were as follows:
Years Ended December 31,
2022 2021
Beginning balances as of January 1, 2022 and 2021 $ 668  $ 645 
Increase of unrecognized tax benefits taken in prior years —  1 
Increase of unrecognized tax benefits related to current year 48  22 
Ending balances as of December 31, 2022 and 2021 $ 716  $ 668