Schedule of Components of Current and Deferred Income Tax Expense

The components of current and deferred income tax expense included in the Consolidated Statement of Operations for years ended December 31, 2024, 2023 and 2022 are as follows:

	Years Ended December 31,
	2024			2023			2022
Current:
Federal	$	13,377		$	6,957		$	4,685
State and local		3,547			1,883			1,415
Foreign		12,183			8,103			(15,538	)
	$	29,107		$	16,943		$	(9,438	)
Deferred:
Federal	$	(581	)	$	(494	)	$	(6	)
State and local		(120	)		(102	)		(1	)
Foreign		303			115			(1,289	)
		(398	)		(481	)		(1,296	)
Income tax expense/(benefit)	$	28,709		$	16,462		$	(10,734	)

Schedule of Reconciliation of Statutory Federal Income Tax Rate and Company's Effective Rate

Below is a reconciliation of the statutory federal income tax expense and the Company’s total income tax expense for the years ended December 31, 2023 and 2022:

	Years Ended December 31,
	2023			2022
U.S. federal statutory income tax	$	24,992		$	8,386
Gain on revaluation/termination of deferred consideration⁽¹⁾		(13,007	)		(5,842	)
Non-deductible loss on extinguishment of convertible notes		2,263			—
Foreign operations		(1,868	)		(2,919	)
Non-deductible executive compensation		1,833			789
Decrease in unrecognized tax benefits, net		(1,386	)		(19,871	)
Change in valuation allowance – Capital losses		1,340			4,761
Expiration of capital losses		796			—
Stock-based compensation tax shortfalls		373			507
Change in tax-related indemnification assets, net		291			4,173
Change in foreign net operating losses (“NOLs”)		174			—
State income tax rate, net of federal benefit		153			(134	)
Change in valuation allowance—Foreign NOLs and interest carryforwards		—			(1,609	)
GILTI		—			499
Other differences, net		508			526
Income tax expense/(benefit)	$	16,462		$	(10,734	)

⁽¹⁾

The gain on revaluation of deferred consideration is not adjusted for income taxes as the obligation was assumed by a wholly-owned subsidiary that is based in Jersey, a jurisdiction where the Company is subject to a zero percent tax rate.

Schedule of Deferred Tax Assets

A summary of the components of the Company’s deferred tax assets at December 31, 2024 and 2023 is as follows:

	2024			2023
Deferred tax assets:
Capital losses	$	21,984		$	22,489
Accrued expenses		6,465			6,000
Stock-based compensation		2,843			2,468
NOLs—Foreign		1,024			1,502
Goodwill and intangible assets		705			895
Foreign currency translation adjustment		427			146
Software capitalization		199			—
Operating lease liabilities		95			96
NOLs—U.S.		—			127
Unrealized losses		—			335
Other		332			401
Deferred tax assets		34,073			34,459

Deferred tax liabilities:
Fixed assets and prepaid assets		246			296
Right of use assets—operating leases		95			96
Unremitted earnings—European subsidiaries		92			186
Unrealized gains		76			—
Deferred tax liabilities		509			578
Total deferred tax assets less deferred tax liabilities		33,564			33,881
Less: Valuation allowance		(21,908	)		(22,824	)
Deferred tax assets, net	$	11,656		$	11,057