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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Taxes

U.S. and international components of income before income taxes were as follows:

			Year Ended December 31,
			2025						2024						2023
			(in thousands)
U.S.			$	(55,495)					$	(37,160)					$	(26,289)
International			57,886						91,430						70,615
Income before income taxes			$	2,391					$	54,270					$	44,326

Schedule of Income Tax Expense

Income tax expense was composed of the following:

			Year Ended December 31,
			2025						2024						2023
			(in thousands)
Current:
Federal			$	—					$	682					$	—
State			375						250						250
International			22,636						24,958						21,152
			23,011						25,890						21,402
Deferred:
Federal			—						(1,561)						—
State			(3)						—						—
International			(3,585)						(1,017)						(488)
			(3,588)						(2,578)						(488)
Income tax expense			$	19,423					$	23,312					$	20,914

Schedule of Effective Income Tax Rate Reconciliation

The difference between the income tax expense (benefit) derived by applying the federal statutory income tax rate to our income before income taxes and the amount recognized in our Consolidated Financial Statements is as follows for the year ended December 31, 2025:

						Year Ended December 31, 2025
						(in thousands, except percentages)
Income before income taxes						$	2,391
						Income Tax Expense						As a Percentage of Income Before Taxes
U.S. - Federal:						$	502					21.0		%
Nontaxable and Nondeductible Items:
Nondeductible executive compensation						2,154						90.1		%
Nondeductible legal and transaction costs						2,317						96.9		%
Prior period adjustments						125						5.2		%
Other nondeductible expense						220						9.2		%
Share-Based Payment Awards:						1,019						42.6		%
Cross-Border Tax Laws:
Global intangible low-taxed income						405						16.9		%
Changes in Valuation Allowance:						5,485						229.4		%
U.S. - State and Local Income Taxes, Net of Federal Effect (1):						250						10.5		%
Foreign Tax Effects:
Canada
Statutory income tax rate differential						632						26.4		%
Nondeductible share-based payment awards						2,014						84.2		%
Research credits						(550)						(23.0)		%
Prior period adjustments						321						13.4		%
Other						73						3.1		%
Netherlands
Statutory income tax rate differential						1,270						53.1		%
Nondeductible share-based payment awards						337						14.1		%
Prior period adjustments						(1,324)						(55.4)		%
Changes in valuation allowance						500						20.9		%
Other						18						0.8		%
United Kingdom
Statutory income tax rate differential						537						22.5		%
Nondeductible share-based payment awards						408						17.1		%
Nondeductible license fee						657						27.5		%
Prior period adjustments						861						36.0		%
Other						249						10.4		%
Other Foreign Jurisdictions
Statutory income tax rate differential						160						6.7		%
Nondeductible share-based payment awards						179						7.5		%
Prior period adjustments						360						15.1		%
Other						244						10.2		%
Income Tax Expense						$	19,423					812.3		%

_____________________

(1) State taxes in Massachusetts, New Jersey, and California made up the majority (greater than 50 percent) of the tax effect in this category in 2025.

The difference between the income tax expense (benefit) derived by applying the federal statutory income tax rate to our income before income taxes and the amount recognized in our Consolidated Financial Statements is as follows for the years ended December 31, 2024 and 2023:

									Year Ended December 31,
									2024						2023
									(in thousands)
Expense derived by applying the federal statutory income tax rate to income before income taxes									$	11,396					$	9,308
State taxes, net of federal benefit									250						250
Research and experimentation tax credits									(550)						—
Global intangible low-taxed income									—						(49)
Withholding tax									—						79
Transaction costs									1,024						399
Non-taxable change in contingent consideration liability									(1,480)						—
Non-deductible executive compensation									3,155						2,099
Valuation allowance for deferred tax assets									3,737						2,867
Stock-based compensation									1,301						2,569
Meals and entertainment									328						224
Effect of foreign operations									4,317						2,328
Other									(166)						840
Income tax expense									$	23,312					$	20,914

Schedule of Components of Net Deferred Tax Amounts

The components of the net deferred tax amounts recognized in the accompanying Consolidated Balance Sheets were:

			December 31,
			2025						2024
			(in thousands)
Deferred tax assets:
Allowance for doubtful accounts			$	1,187					$	392
Accrued expenses			76						17
Net operating loss			18,159						14,763
Stock-based compensation			4,206						3,876
Interest expense			9,046						4,292
Deferred revenue			162						635
Capitalized research and development expense			30						2,599
Leases			788						782
Other credits			240						22
Total deferred tax assets			33,894						27,378
Valuation allowance			(14,049)						(7,764)
Deferred tax assets, net of valuation allowance			19,845						19,614
Deferred tax liabilities:
Property and equipment			1,880						1,578
Prepaid expenses			1,161						983
Leases			1,461						1,271
Unrealized exchange loss			12						36
Intangibles			12,766						17,168
Total deferred tax liabilities			17,280						21,036
Net deferred tax asset (liability)			$	2,565					$	(1,422)

Schedule of Income Tax Paid

Total cash paid for income taxes, net of refunds, is as follows for the year ended December 31, 2025:

						Year Ended December 31, 2025
						(in thousands, except percentages)
Payments						$	19,455					108		%
Refunds						(1,391)
Total payments, net of refunds						$	18,064
												As a Percentage of Total Payments, Net of Refunds
U.S. payments, net of refunds						$	74					0.4		%
Foreign payments, net of refunds
Canada						$	2,498					13.8		%
Netherlands						6,605						36.6		%
United Kingdom						7,650						42.3		%
Other						1,237						6.8		%
						$	17,990					99.6		%
Total payments, net of refunds						$	18,064					100.0		%

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