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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Taxes | Income before income taxes was generated in the United States and globally as follows:
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Domestic |  | $ | 8,222 |  |  | $ | 7,444 |  |  | $ | 11,971 |
Foreign |  |  | 9,469 |  |  |  | 14,081 |  |  |  | 11,718 |
Total income before income taxes |  | $ | 17,691 |  |  | $ | 21,525 |  |  | $ | 23,689 |
Schedule of Income Tax Provision | Income tax expense consisted of the following for the years ended December 31:
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,829 |  |  | $ | 3,939 |  |  | $ | 5,009 |
State |  |  | 754 |  |  |  | 1,100 |  |  |  | 836 |
Foreign |  |  | 3,359 |  |  |  | 2,107 |  |  |  | 1,755 |
Total current tax expense |  |  | 6,942 |  |  |  | 7,147 |  |  |  | 7,600 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  | $ | (1,905 | ) |  |  | (495 | ) |  |  | (3,001 | )
State |  |  | (295 | ) |  |  | (208 | ) |  |  | (231 | )
Foreign |  |  | (1,472 | ) |  |  | 580 |  |  |  | 1,058 |
Total deferred tax expense |  |  | (3,672 | ) |  |  | (123 | ) |  |  | (2,174 | )
Total tax expense |  | $ | 3,270 |  |  | $ | 7,024 |  |  | $ | 5,426 |
The income tax expense differs from the statutory rate due to the following:
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Tax expense at statutory rate |  | $ | 3,715 |  |  | $ | 4,488 |  |  | $ | 4,975 |
Increase (decrease) in tax resulting from: |  |  |  |  |  |  |  |  |
State income tax, net of federal benefit |  |  | 296 |  |  |  | 541 |  |  |  | 340 |
Capital loss carryforward |  |  | (618 | ) |  |  | — |  |  |  | — |
Other permanent differences |  |  | 961 |  |  |  | 290 |  |  |  | 383 |
Impact of rate differences and adjustments |  |  | 1,438 |  |  |  | (1,046 | ) |  |  | 565 |
United States tax credits and incentives |  |  | (534 | ) |  |  | (532 | ) |  |  | (626 | )
Foreign tax credits and incentives |  |  | (3,142 | ) |  |  | (812 | ) |  |  | (895 | )
Change in valuation allowance |  |  | (1,508 | ) |  |  | 1,782 |  |  |  | (526 | )
Foreign withholding taxes on repatriation of foreign earnings |  |  | 253 |  |  |  | (592 | ) |  |  | 139 |
Earnout expense (income) |  |  | 28 |  |  |  | 85 |  |  |  | (48 | )
Equity compensation |  |  | (82 | ) |  |  | 460 |  |  |  | 339 |
Excess compensation |  |  | 859 |  |  |  | 360 |  |  |  | 11 |
Provision-to-return adjustments |  |  | (468 | ) |  |  | 528 |  |  |  | (189 | )
Investment in joint venture |  |  | (371 | ) |  |  | (155 | ) |  |  | 375 |
Net effect GILTI and FDII |  |  | 2,871 |  |  |  | 1,400 |  |  |  | 565 |
Other |  |  | (428 | ) |  |  | 227 |  |  |  | 18 |
Total tax expense |  | $ | 3,270 |  |  | $ | 7,024 |  |  | $ | 5,426 |
Schedule of Net Deferred Tax Assets and Liabilities | Deferred income taxes reflect the future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and tax credit carry forwards. The net deferred tax liabilities consisted of the following at December 31:
(in thousands) |  | 2024 |  |  | 2023 |
Gross deferred tax assets: |  |  |  |  |  |
Accrued expenses |  | $ | 3,135 |  |  | $ | 729 |
Reserves on assets |  |  | 2,370 |  |  |  | 2,769 |
Share-based compensation awards |  |  | 731 |  |  |  | 372 |
Minimum pension |  |  | - |  |  |  | 920 |
Net operating loss carry-forwards |  |  | 3,437 |  |  |  | 3,785 |
Tax credit carry-forwards |  |  | 2,461 |  |  |  | 2,302 |
Investment in joint venture |  |  | 1,333 |  |  |  | 926 |
Leases |  |  | 6,020 |  |  |  | 3,699 |
Research and development costs |  |  | 4,549 |  |  |  | 3,857 |
Total gross deferred tax assets |  |  | 24,036 |  |  |  | 19,359 |
Valuation allowances |  |  | (5,415 | ) |  |  | (6,545 | )
|  | $ | 18,621 |  |  | $ | 12,814 |
Gross deferred tax liabilities: |  |  |  |  |  |
Depreciation |  |  | (2,099 | ) |  |  | (1,809 | )
Goodwill and intangibles |  |  | (19,652 | ) |  |  | (14,299 | )
Prepaid expenses and inventory |  |  | (45 | ) |  |  | (95 | )
Withholding tax on unremitted foreign earnings |  |  | (915 | ) |  |  | (662 | )
Leases |  |  | (5,883 | ) |  |  | (3,571 | )
Revenue recognition |  |  | (407 | ) |  |  | (694 | )
Minimum pension |  |  | (106 | ) |  |  | — |
Other |  |  | 130 |  |  |  | (218 | )
Total gross deferred tax liabilities |  |  | (28,977 | ) |  |  | (21,348 | )
Net deferred tax liabilities |  | $ | (10,356 | ) |  | $ | (8,534 | )
Schedule of Reconciliation of Uncertain Tax Position | A reconciliation of the beginning and ending amount of uncertain tax position reserves included in Other liabilities on the Consolidated Balance Sheets is as follows:
(in thousands) |  | 2024 |  |  | 2023 |
Balance as of January 1, |  | $ | 151 |  |  | $ | 144 |
Additions for tax positions of acquired companies |  |  | 927 |  |  |  | — |
Additions for tax positions taken in prior years |  |  | 6 |  |  |  | 7 |
Balance as of December 31, |  | $ | 1,084 |  |  | $ | 151 |

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