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Note 9 - Income Taxes
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

NOTE 9—INCOME TAXES

 

As of June 30, 2025 and December 31, 2024, the Company had no unrecognized tax benefits recorded. The Company's effective tax rate for the three and six months ended June 30, 2025 was an expense of 8.5% and a benefit of 13.6%, respectively, versus an expense of 22.8% and 20.0%, for the three and six months ended June 30, 2024, respectively. In both periods, the

 

effective tax rate differs from the statutory rate because of the mix of jurisdictions generating income and the valuation allowance against certain loss and interest carryforwards in the United States. 

 

On July 4, 2025, the One Big Beautiful Bill Act (“OBBB”) was enacted in the U.S. The OBBB includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, restoration of favorable tax treatment for certain business provisions including the treatment of the deductibility of interest. The Company is currently assessing the impact on its consolidated financial statements.