v3.26.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Net Income Loss Before Income Tax Expense
The components of net income (loss) before income tax expense are as follows (in thousands):
 
    
Year Ended December 31,
  
    
2025
     
2024
  
Domestic
    $ (3,528 )     $ (3,061 ) 
Foreign
      —         3  
  
 
 
     
 
 
  
Total
    $ (3,528 )     $ (3,058 ) 
  
 
 
     
 
 
  
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 after adoption of ASU
2023-09
on a retrospective basis (in thousands):
 
    
Year Ended December 31,
  
    
2025
    
2024
  
    
Amount
     
Percent
    
Amount
     
Percent
  
Pretax loss
    $ (3,528 )       $ (3,058 )    
US Federal Statutory Tax Rate
      (741 )       21.0 %      (642 )       21.0 % 
Foreign tax effects
      —         —        (1 )       0.0 % 
Non-deductible
items
      571        -16.2 %      88        -2.9 % 
Tax credits
      —         —        (11 )       0.4 % 
Change in valuation allowance
      170        -4.8 %      566        -18.5 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
   $ —         0.0 %    $ —         0.0 % 
  
 
 
     
 
 
    
 
 
     
 
 
  
Summary of deferred tax assets (liabilities)
Deferred tax assets (liabilities) consist of the following as of December 31, 2025 and 2024 (in thousands):
 
    
Year Ended December 31,
  
    
2025
     
2024
  
Deferred tax assets:
      
Net operating loss carryforwards
    $ 57,618      $ 53,281  
Tax credit carryforwards
      10,385        10,383  
Share-based compensation
      6,500        7,122  
Capitalized research and development
      8,867        12,370  
Intangibles
      20        —   
  
 
 
     
 
 
  
Total deferred tax assets
    $ 83,390      $ 83,156  
  
 
 
     
 
 
  
Valuation allowance
      (83,390 )       (83,156 ) 
  
 
 
     
 
 
  
Net deferred tax assets
    $ —       $ —