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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Benefit | For the years ended December 31, 2024, 2023, and 2022, the Company has the following income before income tax from continuing operations (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | (25,855) |  |  | $ | 62,140 |  |  | $ | 33,339 |
Foreign | 28,373 |  |  | 1,520 |  |  | 2,672 |
Income before income tax from continuing operations | 2,518 |  |  | 63,660 |  |  | 36,011 |
The components of the income tax expense (benefit) for continuing operations are as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Current expense (benefit): |  |  |  |  |
Federal | $ | 18,277 |  |  | $ | (1,186) |  |  | $ | 10,097 |
State | 718 |  |  | 218 |  |  | 193 |
Foreign | 3,355 |  |  | 780 |  |  | 452 |
| 22,350 |  |  | (188) |  |  | 10,742 |
Deferred expense (benefit): |  |  |  |  |
Federal | (17,767) |  |  | 9,374 |  |  | (3,656) |
State | 77 |  |  | 655 |  |  | 34,144 |
Foreign | 1,890 |  |  | — |  |  | — |
| (15,800) |  |  | 10,029 |  |  | 30,488 |
Total income tax expense (benefit) | $ | 6,550 |  |  | $ | 9,841 |  |  | $ | 41,230 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense (benefit) from continuing operations to the amount computed by applying the statutory federal income tax rate to the net income (loss) from continuing operations is summarized as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Tax at federal statutory rate | $ | 529 |  |  | $ | 13,448 |  |  | $ | 7,562 |
Subpart F income | 5,649 |  |  | 479 |  |  | 853 |
Officer compensation | 3,921 |  |  | 844 |  |  | 5,869 |
Foreign tax differential on income/loss of foreign subsidiaries | 1,115 |  |  | (38) |  |  | 103 |
Share-based compensation | 602 |  |  | 1,241 |  |  | 1,279 |
Provision to return adjustments | 293 |  |  | 2,200 |  |  | 2,232 |
Rate change for changes in federal, foreign or state law | 111 |  |  | 342 |  |  | (535) |
Contingent liabilities | 88 |  |  | (116) |  |  | 15 |
Change in uncertain tax positions | 94 |  |  | (7,206) |  |  | (158) |
Debt repurchases | — |  |  | — |  |  | 626 |
State, net of federal benefit | (85) |  |  | 397 |  |  | 264 |
Research and development credits | (324) |  |  | (405) |  |  | 256 |
FDII | (832) |  |  | (1,037) |  |  | (2,395) |
Change in valuation allowance | (1,638) |  |  | (1,184) |  |  | 24,799 |
Foreign tax credits | (3,232) |  |  | — |  |  | — |
Other | 259 |  |  | 876 |  |  | 460 |
| $ | 6,550 |  |  | $ | 9,841 |  |  | $ | 41,230 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets (liabilities) are comprised of the following (in thousands):
| December 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 40,385 |  |  | $ | 45,702 |
Research credit carryforwards | 24,404 |  |  | 26,611 |
Capitalized R&D | 7,090 |  |  | 4,550 |
Stock compensation | 10,726 |  |  | 11,886 |
Other | 13,733 |  |  | 15,012 |
| 96,338 |  |  | 103,761 |
Valuation allowance for deferred tax assets | (55,649) |  |  | (57,699) |
Net deferred tax assets | 40,689 |  |  | 46,062 |
Deferred tax liabilities: |  |  |
Identified intangibles | (69,150) |  |  | (66,966) |
Other | (3,991) |  |  | (10,504) |
Net deferred tax liabilities | (73,141) |  |  | (77,470) |
Deferred income taxes, net | $ | (32,452) |  |  | $ | (31,408) |
Schedule of Unrecognized Tax Benefits | A reconciliation of the amount of unrecognized tax benefits at December 31, 2024, 2023 and 2022 is as follows (in thousands):
| December 31,
| 2024 |  | 2023 |  | 2022
Balance at beginning of year | $ | 22,363 |  |  | $ | 29,096 |  |  | $ | 29,550 |
Additions based on tax positions related to the current year | 27 |  |  | 47 |  |  | 58 |
Additions for tax positions of prior years | 477 |  |  | 3 |  |  | — |
Reductions for tax positions of prior years | (396) |  |  | (6,783) |  |  | (512) |
Balance at end of year | $ | 22,471 |  |  | $ | 22,363 |  |  | $ | 29,096 |

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