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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Before Provision for Income Taxes

The Company’s breakdown of its income before provision for income taxes for the years ended December 31, 2024, 2023 and 2022 was as follows:

			December 31, 2024						December 31, 2023						December 31, 2022
U.S.			$	26,719					$	76,580					$	305,192
Foreign			193						140						49
Total income before taxes			$	26,912					$	76,720					$	305,241

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes were as follows:

			December 31, 2024						December 31, 2023						December 31, 2022
Current provision:
Federal			$	3,895					$	10,701					$	44,063
State & Local			623						2,618						7,918
Foreign			77						40						9
Total current provision			4,595						13,359						51,990
Deferred provision:
Federal			2,091						1,395						8,172
State & Local			738						379						1,007
Foreign			(34)						—						—
Total deferred provision			2,795						1,774						9,179
Total provision for income taxes			$	7,390					$	15,133					$	61,169

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities were as follows:

Deferred tax assets:			December 31, 2024						December 31, 2023
Inventory adjustments			$	4,057					$	4,248
Capitalized transaction costs			2,006						2,301
Deferred revenue			94						150
Accrued expenses and other current liabilities			5,470						4,264
Capitalized research & development expense			3,518						2,249
Interest expense limitation			8,837						3,297
Lease liability			557						473
Share-based compensation			2,100						2,307
Other			624						176
Total deferred tax assets			$	27,263					$	19,465
Deferred tax liabilities:
Intangible assets			$	17,780					$	10,128
Goodwill			11,563						9,128
Prepaid expenses and other current assets			1,005						1,175
Fixed assets			1,535						1,169
Right-of-use asset			544						473
Unrealized gain on derivatives			—						408
Total deferred tax liabilities			32,427						22,481
Net deferred tax liabilities			$	(5,164)					$	(3,016)

Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation between the U.S. federal statutory rate and the Company’s effective tax rates for the years ended December 31, 2024, 2023 and 2022:

			December 31, 2024						December 31, 2023						December 31, 2022
U.S. federal statutory income tax rate			21.0		%				21.0		%				21.0		%
Foreign derived intangible income deduction			(4.3)		%				(3.9)		%				(2.9)		%
Changes in prior year estimates			(4.4)		%				(0.4)		%				(0.2)		%
State and local income taxes, net of federal benefit			4.9		%				4.0		%				2.3		%
Share-based compensation			6.6		%				(0.1)		%				(0.4)		%
Tax Receivable Agreement			3.1		%				(2.0)		%				(0.2)		%
Other			0.6		%				1.1		%				0.4		%
Effective Tax Rate			27.5		%				19.7		%				20.0		%

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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