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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Geographical Breakdown of Income (Loss) before the Provision for Income Taxes | The following is a geographical breakdown of income (loss) before income taxes:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (In thousands)
Domestic | $ | 10,154 |  |  | $ | 19,757 |  |  | $ | (28,105) |
Foreign | 1,171 |  |  | 5,836 |  |  | 7,997 |
Income (loss) before income taxes | $ | 11,325 |  |  | $ | 25,593 |  |  | $ | (20,108) |
Provision for (Benefit from) Income Taxes | The provision for income taxes consisted of the following:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (In thousands)
Current: |  |  |  |  |
Federal | $ | 3,309 |  |  | $ | 21,805 |  |  | $ | 8,556 |
State | 5,490 |  |  | 4,964 |  |  | 1,471 |
Foreign | 982 |  |  | 846 |  |  | 840 |
Total current income taxes | 9,781 |  |  | 27,615 |  |  | 10,867 |
Deferred: |  |  |  |  |
Federal | 2,215 |  |  | (14,416) |  |  | (8,002) |
State | (2,023) |  |  | 115 |  |  | (2,261) |
Foreign | (700) |  |  | (252) |  |  | (341) |
Total deferred income taxes | (508) |  |  | (14,553) |  |  | (10,604) |
Total provision for income taxes | $ | 9,273 |  |  | $ | 13,062 |  |  | $ | 263 |
Difference Between the Provision for (Benefit from) Income Taxes Compared to Income Taxes Computed at the Statutory Federal Tax Rate | The provision for income taxes differs from the amount computed by applying the statutory federal tax rate as follows:
| Year Ended December 31,
| 2025
| (In thousands) |  | %
U.S. federal tax provision at statutory rate | $ | 2,378 |  |  | 21 | %
State income taxes, net of federal benefit (1) | 2,313 |  |  | 20 | %
Foreign rate differential: |  |  |
Germany |  |  |
Statutory rate difference between Germany and U.S. | 22 |  |  | — | %
Effect of changes in tax laws or rates enacted in the current period | 850 |  |  | 8 | %
Net operating loss (“NOL”) adjustment due to audit settlement | (1,083) |  |  | (10) | %
Other | 218 |  |  | 2 | %
Other | (229) |  |  | (2) | %
Effect of cross-border tax laws: |  |  |
Global intangible low-taxed income | 1,499 |  |  | 13 | %
Foreign derived intangible income (“FDII”) | (1,146) |  |  | (10) | %
Other | 105 |  |  | 1 | %
Tax credits: |  |  |
Research and development (“R&D”) credits | (3,795) |  |  | (34) | %
Non-taxable or non-deductible items: |  |  |
Share-based compensation expense | 4,520 |  |  | 41 | %
Non-deductible officer compensation (Section 162(m)) | 2,320 |  |  | 20 | %
Meals and entertainment | 567 |  |  | 5 | %
Other adjustments | (13) |  |  | — | %
Changes in unrecognized tax benefits | 747 |  |  | 7 | %
Total provision for income taxes | $ | 9,273 |  |  | 82 | %
_________________________________________________ (1) State taxes in New York, Texas, Pennsylvania, Florida and Minnesota made up the majority (greater than 50%) of the tax effect in this category. As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the provision for income taxes differs from the amount computed by applying the statutory federal tax rate as follows:
| Year Ended December 31,
| 2024 |  | 2023
| (In thousands)
U.S. federal tax provision at statutory rate | $ | 5,375 |  |  | $ | (4,223) |
State taxes | 4,037 |  |  | (624) |
Section 162(m) limitation | 531 |  |  | 1,286 |
Non-deductible expenses | 510 |  |  | 531 |
Uncertain tax positions | (881) |  |  | (620) |
Share-based compensation tax expense | 6,078 |  |  | 7,384 |
Research tax credits | (3,531) |  |  | (4,587) |
Gain on extinguishment of debt | 477 |  |  | — |
Foreign-derived intangible income deduction | (229) |  |  | (325) |
Global intangible low-taxed income inclusion | 826 |  |  | — |
Foreign rate differential | 122 |  |  | 219 |
Foreign branch taxes | (7) |  |  | 6 |
Transaction cost | — |  |  | — |
Provision to return true up | (244) |  |  | 697 |
State rate true up | — |  |  | 528 |
Other | (2) |  |  | (9) |
Total provision for income taxes | $ | 13,062 |  |  | $ | 263 |
Schedule of Income Taxes Paid | The amount of cash income taxes paid, net of refunds received, consisted of the following:
| Year Ended December 31,
| 2025
| (In thousands)
U.S. Federal (1) | $ | 11,500 |
U.S. State and Local | 6,279 |
Foreign | 631 |
Total cash paid for income taxes, net of refunds received | $ | 18,410 |
_________________________________________________ (1) Individual jurisdictions equaling 5% or more of the total income taxes paid, net of refunds received, for the year ended December 31, 2025 include U.S. Federal of $11.5 million.
Significant Components of Deferred Tax Assets (Liabilities) | Significant components of the Company’s deferred tax assets (liabilities) were as follows:
| December 31,
| 2025 |  | 2024
| (In thousands)
Deferred tax assets: |  |  |
Deferred revenues | $ | 40,549 |  |  | $ | 23,550 |
Share-based compensation | 8,992 |  |  | 9,915 |
Inventory-related items | 6,424 |  |  | 6,055 |
Tax credit carryforwards | 12,531 |  |  | 12,843 |
Reserves and accruals | 10,575 |  |  | 8,384 |
Loss carryforwards | 6,802 |  |  | 6,493 |
Lease liability | 9,111 |  |  | 10,615 |
Convertible debt | 8,318 |  |  | 11,276 |
Capitalized research and development | 40,788 |  |  | 49,380 |
Other, net | 1,139 |  |  | 1,580 |
Gross deferred tax assets | 145,229 |  |  | 140,091 |
Valuation allowance | — |  |  | — |
Total net deferred tax assets | 145,229 |  |  | 140,091 |
Deferred tax liabilities: |  |  |
Intangibles | (23,837) |  |  | (27,057) |
Depreciation and amortization | (43,388) |  |  | (35,759) |
Prepaid expenses | (14,224) |  |  | (14,466) |
Right-of-use assets | (6,126) |  |  | (6,448) |
Total deferred tax liabilities | (87,575) |  |  | (83,730) |
Net deferred tax assets | $ | 57,654 |  |  | $ | 56,361 |
Change in the Balance of Gross Unrecognized Tax Benefits | The following table summarizes the aggregate change in the balance of gross unrecognized tax benefit, which excludes interest and penalties:
| (In thousands)
Balance as of December 31, 2022 | $ | 9,296 |
Increases related to tax positions taken during a prior period | 750 |
Decreases related to tax positions taken during the prior period | (161) |
Increases related to tax positions taken during the current period | 1,566 |
Decreases related to expiration of statute of limitations | (703) |
Balance as of December 31, 2023 | 10,748 |
Increases related to tax positions taken during a prior period | 4 |
Decreases related to tax positions taken during the prior period | (138) |
Increases related to tax positions taken during the current period | 1,163 |
Decreases related to settlements | (333) |
Decreases related to expiration of statute of limitations | (952) |
Balance as of December 31, 2024 | 10,492 |
Increases related to tax positions taken during a prior period | 4 |
Decreases related to tax positions taken during the prior period | (32) |
Increases related to tax positions taken during the current period | 997 |
Decreases related to expiration of statute of limitations | (197) |
Balance as of December 31, 2025 | $ | 11,264 |

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