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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Domestic and International Components of Income (Loss) Before Income Taxes | The domestic and international components of income (loss) before income taxes are presented for the years ended December 31, 2024, 2023, and 2022 (in thousands):
|  | For the year ended |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Domestic |  | $ | (3,917 | ) |  | $ | 6,993 |  |  | $ | 20,546 |
Foreign |  |  | (486 | ) |  |  | 2,058 |  |  |  | 568 |
Income (loss) before income taxes |  | $ | (4,403 | ) |  | $ | 9,051 |  |  | $ | 21,114 |
Summary of the Company's Income Tax Expense (Benefit) | The following is a summary of our income tax expense (benefit) for the years ended December 31, 2024, 2023, and 2022 (in thousands):
|  | For the year ended December 31, 2024 |
|  | Federal |  |  | State |  |  | Canadian |  |  | Total |
Current |  | $ | 18 |  |  | $ | 41 |  |  | $ | 580 |  |  | $ | 639 |
Deferred |  |  | 258 |  |  |  | 4 |  |  |  | 583 |  |  |  | 845 |
Total |  | $ | 276 |  |  | $ | 45 |  |  | $ | 1,163 |  |  | $ | 1,484 |
|  | For the year ended December 31, 2023 |
|  | Federal |  |  | State |  |  | Canadian |  |  | Total |
Current |  | $ | 191 |  |  | $ | 33 |  |  | $ | 480 |  |  | $ | 704 |
Deferred |  |  | (10 | ) |  |  | (2 | ) |  |  | (3,288 | ) |  |  | (3,300 | )
Total |  | $ | 181 |  |  | $ | 31 |  |  | $ | (2,808 | ) |  | $ | (2,596 | )
|  | For the year ended December 31, 2022 |
|  | Federal |  |  | State |  |  | Canadian |  |  | Total |
Current |  | $ | 171 |  |  | $ | 27 |  |  | $ | 321 |  |  | $ | 519 |
Deferred |  |  | (499 | ) |  |  | (76 | ) |  |  | (499 | ) |  |  | (1,074 | )
Total |  | $ | (328 | ) |  | $ | (49 | ) |  | $ | (178 | ) |  | $ | (555 | )
Schedule of Income Tax Expense (Benefit) Reconciled to the Hypothetical Amounts Computed at the U.S. Federal Statutory Income Tax Rate | Income tax expense (benefit) is reconciled to the hypothetical amounts computed at the U.S. federal statutory income tax rate for the years ended December 31, 2024, 2023, and 2022 (in thousands):
|  | Year Ended December 31, 2024 |  |  | Rate |
Expected tax (benefit) at statutory rate |  | $ | (925 | ) |  |  | 21.0 | %
Non-taxable REIT (income) loss |  |  | 1,134 |  |  |  | -25.7 | %
State and local income tax expense - net of federal benefit |  |  | 36 |  |  |  | -0.8 | %
Foreign income taxed at different rates |  |  | (12 | ) |  |  | 0.3 | %
Change in valuation allowance |  |  | 1,223 |  |  |  | -27.8 | %
Other |  |  | 28 |  |  |  | -0.7 | %
Total income tax expense (benefit) |  | $ | 1,484 |  |  |  | -33.7 | %
|  | Year Ended December 31, 2023 |  |  | Rate |
Expected tax at statutory rate |  | $ | 1,901 |  |  |  | 21.0 | %
Non-taxable REIT (income) loss |  |  | (1,243 | ) |  |  | -13.7 | %
State and local income tax expense—net of federal benefit |  |  | 25 |  |  |  | 0.3 | %
Foreign income taxed at different rates |  |  | 131 |  |  |  | 1.5 | %
Change in valuation allowance |  |  | (3,410 | ) |  |  | -37.7 | %
Total income tax expense (benefit) |  | $ | (2,596 | ) |  |  | -28.7 | %
|  | Year Ended December 31, 2022 |  |  | Rate |
Expected tax at statutory rate |  | $ | 4,434 |  |  |  | 21.0 | %
Non-taxable REIT (income) loss |  |  | (4,611 | ) |  |  | -21.8 | %
State and local income tax expense—net of federal benefit |  |  | (39 | ) |  |  | -0.2 | %
Foreign income taxed at different rates |  |  | 48 |  |  |  | 0.2 | %
Change in valuation allowance |  |  | (417 | ) |  |  | -2.0 | %
Other |  |  | 30 |  |  |  | 0.1 | %
Total income tax expense (benefit) |  | $ | (555 | ) |  |  | -2.6 | %
Schedule of Deferred Tax Assets and Liabilities | The major sources of temporary differences that give rise to the deferred tax effects are shown below (in thousands):
|  | December 31, 2024 |  |  | December 31, 2023 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible contract assets |  | $ | (6 | ) |  | $ | (18 | )
Canadian real estate |  |  | (9,163 | ) |  |  | (9,887 | )
Total deferred tax liability |  |  | (9,169 | ) |  |  | (9,905 | )
Deferred tax assets: |  |  |  |  |  |  |  |
Other |  |  | 1,687 |  |  |  | 1,267 |
Canadian real estate and non-capital losses |  |  | 7,729 |  |  |  | 7,561 |
Total deferred tax assets |  |  | 9,416 |  |  |  | 8,828 |
Valuation allowance |  |  | (1,891 | ) |  |  | (667 | )
Net deferred tax liabilities |  | $ | (1,644 | ) |  | $ | (1,744 | )

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