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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes by Jurisdiction

Income (loss) before taxes by jurisdiction consisted of the following at December 31, 2024, 2023, and 2022:

(In thousands)						2024						2023						2022
U.S.						$	(11,046)					$	(57,860)					$	18,081
Foreign						842						—						—
Total						$	(10,204)					$	(57,860)					$	18,081

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities were comprised of the following at December 31, 2024 and 2023: 

(In thousands)			2024						2023
Deferred tax assets:
Accounts receivable and financing receivables			$	1,589					$	871
Stock-based compensation			1,003						1,275
Deferred revenue			660						367
Research expenditures			26,449						16,496
Accrued severance			236						890
Right of use asset			561						952
Capital loss on sale of AHT stock			3,323						—
Credits			891						—
Other			2,893						2,770
Net operating loss			1,835						3,656
Deferred tax assets			39,440						27,277
Less: Valuation allowance			13,280						604
Total deferred tax assets			$	26,160					$	26,673
Deferred tax liabilities:
Intangible assets			$	15,118					$	14,477
Accrued liabilities and other			11,880						12,127
Fixed assets			237						254
Right of use liability			796						$	1,045
Total deferred tax liabilities			$	28,031					$	27,903
Total net deferred tax liability			$	(1,871)					$	(1,230)

Schedule of Components of Income Tax (benefit) Provision

Significant components of the income tax (benefit) provision for the years ended December 31, 2024, 2023 and 2022 were as follows:

(In thousands)			2024						2023						2022
Current provision:
Federal			$	5,016					$	1,661					$	6,482
State			3,099						218						2,420
Foreign			261						—						—
Deferred provision:
Federal			(2,082)						(8,884)						(4,769)
State			3,941						(2,421)						(1,919)
Total income tax (benefit) provision			$	10,235					$	(9,426)					$	2,214

Schedule of Reconciliation to Federal Statutory Income Tax Rate

The difference between income taxes at the U.S. federal statutory income tax rate of 21% for the years ended December 31, 2024, 2023 and 2022, and those reported in the consolidated statements of operations for such years is as follows:

(In thousands)			2024						2023						2022
Income taxes at U.S. federal statutory rate			$	(2,145)					$	(12,151)					$	3,797
State income tax, net of federal tax effect			6,419						(2,261)						428
Foreign rate differential on pretax book income			75						—						—
Provision-to-return adjustments			(152)						(999)						(539)
Tax credits			(1,084)						(2,481)						(1,254)
Capital loss on sale of AHT stock			(3,175)						—						—
Contingent consideration			—						—						(406)
Goodwill impairment			—						7,542						—
Stock-based compensation			772						65						(112)
Change in valuation allowance			9,209						—						—
Non-deductible compensation - section 162(m)			97						15						306
Other			219						844						(6)
Total income tax provision (benefit)			$	10,235					$	(9,426)					$	2,214

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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