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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision (Benefit)

Income tax provision is summarized as follows:

			Year Ended December 31,
(In thousands)			2024						2023						2022
Current:
Federal			$	(24,499)					$	87,840					$	13,877
State			(3,861)						6,106						274
Total current tax (benefit) provision			$	(28,360)					$	93,946					$	14,151
Deferred:
Federal			$	50,423					$	(17,846)					$	(13,462)
State			—						107						(168)
Total deferred tax provision (benefit)			50,423						(17,739)						(13,630)
Income tax provision			$	22,063					$	76,207					$	521

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the statutory federal income tax rate to the Company’s actual rate based on income before income tax provision is summarized below:

			Year Ended December 31,
			2024						2023						2022
Statutory federal tax rate			21.00		%				21.00		%				21.00		%
State income taxes, net of federal income taxes			(5.03)						2.53						0.62
Permanent tax differences – stock compensation			1.62						(2.12)						(6.31)
Permanent tax differences – business meals			0.70						0.17						0.44
Permanent tax differences – executive compensation and other			0.64						2.60						9.27
Permanent tax differences – goodwill			16.69						—						—
Change in valuation allowance			—						(1.71)						(23.99)
FICA credit generated			(1.27)						(0.28)						(1.09)
WOTC credit generated			(0.14)						—						—
Tax benefit due to settlement of uncertain tax positions			(9.38)						—						—
Additional tax due to amending tax returns from prior years			5.01						—						—
Change in tax rate and apportionment			—						0.43						(0.26)
Deferred only adjustment to beginning deferred balances			0.47						0.34						0.95
Effective tax rate			30.31		%				22.96		%				0.63		%

Schedule of Deferred Tax Assets and Liabilities

The Company’s current and non-current deferred tax assets (liabilities) are comprised of the following:

			December 31,
(In thousands)			2024						2023
Deferred tax assets:
Accruals and reserves			$	3,895					$	5,128
Share-based compensation expense			1,997						2,137
Operating lease obligation			19,626						27,092
Depreciation of fixed assets			—						18,631
Uncertain tax position			—						6,245
Other			—						1,553
Gross deferred tax assets			25,518						60,786
Valuation allowance			—						—
Deferred tax assets, net of valuation allowance			$	25,518					$	60,786
Deferred tax liabilities:
Prepaid services			$	(1,744)					$	(1,771)
Amortization of intangible assets			(787)						(5,778)
Depreciation of fixed assets			(26,050)						—
Right-of-use assets			(16,478)						(23,729)
Debt basis			(1,359)						—
Other			(15)						—
Gross deferred tax liabilities			(46,433)						(31,278)
Deferred tax (liabilities) assets, net			$	(20,915)					$	29,508
Non-current deferred tax assets, net			$	—					$	29,508
Non-current deferred tax liabilities, net			(20,915)						—
Deferred tax (liabilities) assets, net			$	(20,915)					$	29,508

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the Company’s reconciliation of the beginning and ending unrecognized tax benefits:

			December 31,
(In thousands)			2024						2023
Balance – beginning of period			$	7,165					$	—
Tax positions related to current year additions			—						884
Additions for tax positions of prior years			—						6,281
Settlements			(7,165)						—
Balance – end of period			$	—					$	7,165

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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.

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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 the change in unrecognized tax benefits.

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