Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Components of Loss Before Income Taxes

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​

 

Fiscal Year Ended

​

    

December 31, 2022

    

January 1, 2022

​

January 2, 2021

Domestic operations

​

$

(965)

​

$

(10,460)

​

$

(1,738)

Foreign operations

​

 

646

​

 

472

​

 

532

Total loss before income taxes

​

$

(319)

​

$

(9,988)

​

$

(1,206)

​

Summary of Income Tax (Benefit) Provision

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Fiscal Year Ended

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December 31, 2022

    

January 1, 2022

​

January 2, 2021

Current:

 

​

  

 

​

​

​

​

  

Federal tax

​

$

—

​

$

—

​

$

50

State tax

​

​

395

​

​

68

​

​

80

Foreign tax

​

 

237

​

​

283

​

 

177

Total current taxes

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632

​

 

351

​

 

307

Deferred:

​

 

  

​

​

​

​

 

  

Federal tax

​

 

307

​

​

(6,628)

​

 

(453)

State tax

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(195)

​

​

(407)

​

 

(225)

Total deferred taxes

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112

​

 

(7,035)

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(678)

Valuation allowance

​

 

(112)

​

 

7,035

​

 

678

Income tax provision

​

$

632

​

$

351

​

$

307

​

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

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December 31, 2022

    

January 1, 2022

​

January 2, 2021

Income tax at U.S. federal statutory rate

​

$

(67)

​

$

(2,098)

​

$

(253)

Tax attributes written off

​

 

—

​

​

—

​

 

50

Share-based compensation

​

 

397

​

​

(4,602)

​

 

(318)

State income tax, net of federal tax effect

​

 

158

​

​

(269)

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(115)

Foreign tax

​

 

194

​

​

243

​

 

144

Other

​

 

62

​

​

42

​

 

121

Change in valuation allowance

​

 

(112)

​

​

7,035

​

 

678

Effective tax provision

​

$

632

​

​

351

​

$

307

​

Summary of Deferred Tax Assets and Deferred Tax Liabilities

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​

​

​

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​

​

​

​

    

December 31, 2022

    

January 1, 2022

Deferred tax assets:

 

​

  

 

​

  

Inventory and inventory related allowance

​

$

2,440

​

$

1,373

Lease liabilities

​

​

11,226

​

​

10,830

Share-based compensation

​

 

4,337

​

 

3,108

Intangibles

​

 

137

​

 

161

Sales and bad debt allowances

​

 

1,099

​

 

1,021

Accrued compensation

​

 

444

​

 

445

Net operating loss

​

 

28,728

​

 

32,102

Other

​

 

151

​

 

210

Total deferred tax assets

​

 

48,562

​

 

49,250

Valuation allowance

​

 

(37,565)

​

 

(37,637)

Net deferred tax assets

​

 

10,997

​

 

11,613

Deferred tax liabilities:

​

 

  

​

 

  

Right-of-use assets

​

​

10,506

​

​

10,203

Tax over book depreciation

​

 

489

​

 

1,410

Other

​

 

2

​

 

—

Total deferred tax liabilities

​

 

10,997

​

 

11,613

Net deferred tax assets

​

$

—

​

$

—

​

Summary of State NOL Carryforwards Expiration Year

​

​

​

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​

2023

    

$

3,013

2024

​

 

2,355

2025

​

 

3,296

2026

​

 

2,982

2027

​

 

4,855

Thereafter

​

 

63,779

​

​

$

80,280

​