v3.24.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) before Provision for Income Taxes
Income (loss) before provision for income taxes consisted of the following:
Year Ended December 31,
202320222021
(In thousands)
United States$(26,266)$(60,374)$(59,370)
International5,405 4,723 4,018 
Total$(20,861)$(55,651)$(55,352)
Summary of Income Tax Expense
Provision for income taxes consisted of the following:
Year Ended December 31,
202320222021
(In thousands)
Current:
U.S. Federal$88 $166 $— 
State273 87 21 
Foreign697 601 989 
1,058 854 1,010 
Deferred:
U.S. Federal— — — 
State— — — 
Foreign117 121 (333)
117 121 (333)
Total$1,175 $975 $677 
Schedule of Effective Income Tax Rate Reconciliation
The effective tax rate differed from the U.S. federal income tax rate as follows:
Year Ended December 31,
202320222021
Tax benefit at U.S. federal income tax rate21.0 %21.0 %21.0 %
State tax benefit, net of federal benefit(1.0)%1.9 %2.9 %
Impact of international operations3.1 %1.3 %1.3 %
FDII deduction
1.8 %— %— %
U.S. taxes on foreign entities— %— %(3.9)%
Stock-based compensation(22.5)%(7.3)%(3.0)%
U.S. federal tax credits13.8 %3.7 %1.6 %
Change in valuation allowance(21.7)%(21.8)%(20.3)%
Non-deductible transaction costs(0.6)%(0.1)%(0.6)%
Other0.5 %(0.5)%(0.2)%
Provision for income taxes(5.6)%(1.8)%(1.2)%
Schedule of Deferred Tax Assets and Liabilities
The significant components of net deferred tax assets consisted of the following:
As of December 31,
20232022
(In thousands)
Deferred Tax Assets:
Accruals and allowances$9,377 $11,330 
Net operating loss carryforwards18,940 22,622 
Stock-based compensation3,165 3,527 
Lease liabilities4,965 5,706 
Deferred revenue100 409 
Tax credit carryforwards15,775 11,510 
Depreciation and amortization3,231 3,307 
Capitalized research and development expenses50,519 40,016 
Total deferred tax assets106,072 98,427 
Deferred Tax Liabilities:
Operating lease right-of-use assets(2,823)(3,174)
Total deferred tax liabilities(2,823)(3,174)
Valuation Allowance(101,977)(93,869)
Net deferred tax assets$1,272 $1,384 
Schedule of Valuation Allowance for Deferred Income Tax Assets
Changes in valuation allowance for deferred tax assets were as follows:
 Year Ended December 31,
 202320222021
(In thousands)
Balance at the beginning of the period$93,869 $81,742 $70,496 
Additions (1)
13,892 16,798 11,246 
Deductions (2)
(5,784)(4,671)— 
Balance at the end of the period$101,977 $93,869 $81,742 
________________________
(1)    Additions are primarily increases in tax attribute carryforwards and capitalized expenditures for income tax purposes.

(2)     Deductions present the utilization of U.S. federal and state net operating losses and tax credit attributes.
Summary of Operating Loss Carryforwards
As of December 31, 2023, net operating loss carryforwards consisted of the following:
AmountBeginning Year of Expiration
(in thousands)
U.S. federal (1)
$7,736 2031
U.S. federal (1)(2)
62,798 Indefinite
California36,888 2028
Other states35,489 2024
_________________________
(1)All of the losses are subject to annual usage limitations under Internal Revenue Code Section 382.

(2)All of the losses are subject to usage limitation of 80% of taxable income in a year when the losses will be utilized.
Summary of Tax Credit Carryforwards
As of December 31, 2023, tax credit carryforwards consisted of the following:
AmountBeginning Year of Expiration
(in thousands)
U.S. federal$9,249 2039
California8,662 Indefinite
Foreign2,766 2041
Reconciliation of Gross Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits was as follows:
Year Ended December 31,
202320222021
(In thousands)
Balance at the beginning of the period$2,763 $1,736 $1,355 
Additions for tax positions taken during the current year679 765 444 
Additions (reductions) for tax positions taken during a prior year133 275 (58)
Reductions as a result of a lapse of the applicable statute of limitations(21)(13)(5)
Balance at the end of the period$3,554 $2,763 $1,736