Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.24.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 30, 2023
Income Taxes  
Components of Loss Before Income Taxes

 

Fiscal Year Ended

    

December 30, 2023

    

December 31, 2022

    

January 1, 2022

Domestic operations

$

(8,888)

$

(965)

$

(10,460)

Foreign operations

 

810

 

646

 

472

Total loss before income taxes

$

(8,078)

$

(319)

$

(9,988)

Summary of Income Tax (Benefit) Provision

 

Fiscal Year Ended

    

December 30, 2023

    

December 31, 2022

    

January 1, 2022

Current:

 

  

 

  

State tax

$

(87)

$

395

$

68

Foreign tax

 

232

237

 

283

Total current taxes

 

145

 

632

 

351

Deferred:

 

  

 

  

Federal tax

 

(737)

307

 

(6,628)

State tax

 

(128)

(195)

 

(407)

Total deferred taxes

 

(865)

 

112

 

(7,035)

Valuation allowance

 

865

 

(112)

 

7,035

Income tax provision

$

145

$

632

$

351

Summary of Differences Between Income Tax Provision (Benefit) and Applied Federal Statutory Rate

    

Fiscal Year Ended

December 30, 2023

    

December 31, 2022

    

January 1, 2022

Income tax at U.S. federal statutory rate

$

(1,643)

$

(67)

$

(2,098)

Share-based compensation

 

817

397

 

(4,602)

State income tax, net of federal tax effect

 

(170)

158

 

(269)

Foreign tax

 

173

194

 

243

Other

 

103

62

 

42

Change in valuation allowance

 

865

(112)

 

7,035

Effective tax provision

$

145

$

632

$

351

Summary of Deferred Tax Assets and Deferred Tax Liabilities

December 30, 2023

    

December 31, 2022

Deferred tax assets:

 

  

 

  

Inventory and inventory related allowance

$

1,605

$

2,440

Lease liabilities

8,609

11,226

Share-based compensation

 

4,024

 

4,337

Book over tax depreciation

1,043

Intangibles

 

90

 

137

Sales and bad debt allowances

 

1,130

 

1,099

Accrued compensation

 

127

 

444

Net operating loss

 

29,632

 

28,728

Other

 

47

 

151

Total deferred tax assets

 

46,307

 

48,562

Valuation allowance

 

(38,458)

 

(37,565)

Net deferred tax assets

 

7,849

 

10,997

Deferred tax liabilities:

 

  

 

  

Right-of-use assets

7,847

10,506

Tax over book depreciation

 

 

489

Other

 

2

 

2

Total deferred tax liabilities

 

7,849

 

10,997

Net deferred tax assets

$

$

Summary of State NOL Carryforwards Expiration Year

2029

    

$

1,814

2030

 

9,555

2031

 

14,611

2032

 

24,202

2033

 

24,832

Thereafter

 

9,766

$

84,780