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 |
|