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INCOME TAXES
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
For the three months ended September 30, 2025 and 2024, the Company recorded a provision for income taxes of $4,692,686 and $(250,368), respectively. The effective tax rate is 39.9% for the three months ended September 30, 2025 primarily driven by the increase in net income. The effective rate for the three months ended September 30, 2024 was 4.5% primarily driven by the portion of the stock-based compensation expense deduction limited by the Internal Revenue Code (IRC) Section 162(m).
For the nine months ended September 30, 2025 and 2024, the Company recorded a provision for income taxes of $11,096,742 and $2,680,855, respectively. The effective tax rate is 26.9% for the nine months ended September 30, 2025 primarily driven by the increase in net income. The effective rate for the nine months ended September 30, 2024 was (83.1)% primarily driven by the portion of the stock-based compensation expense deduction limited by the Internal Revenue Code (IRC) Section 162(m).
The Company did not have any unrecognized tax benefits relating to uncertain tax positions at September 30, 2025 and December 31, 2024, and did not recognize any interest or penalties related to uncertain tax positions at September 30, 2025, and December 31, 2024. The Company does not anticipate that changes in its unrecognized tax benefits will have a material impact on the consolidated statements of operations and comprehensive income (loss) during 2025.