XML 53 R39.htm IDEA: XBRL DOCUMENT
v3.25.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Domestic and Foreign Components of (Loss) Income Before Income Taxes | The following table presents domestic and foreign components of loss before income taxes for the tax years ended December 31, 2025, 2024 and 2023:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (In thousands)
United States | $ | (3,486) |  |  | $ | 7,670 |  |  | $ | 759 |
International | (13,105) |  |  | (16,623) |  |  | (20,062) |
Loss before income taxes | $ | (16,591) |  |  | $ | (8,953) |  |  | $ | (19,303) |
Schedule of Benefit for Income Taxes from Operations | Benefit for income taxes from operations consists of the following:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
| (In thousands)
Current: |  |  |  |  |
Federal | $ | 39 |  |  | $ | (342) |  |  | $ | (653) |
State | (388) |  |  | (1,581) |  |  | (1,309) |
Foreign | (1,070) |  |  | (1,053) |  |  | (2,219) |
Total | (1,419) |  |  | (2,976) |  |  | (4,181) |
Deferred: |  |  |  |  |
Federal | (23) |  |  | 29 |  |  | (75) |
Foreign | 5,121 |  |  | 5,376 |  |  | 7,216 |
Total | 5,098 |  |  | 5,405 |  |  | 7,141 |
Income tax benefit | $ | 3,679 |  |  | $ | 2,429 |  |  | $ | 2,960 |
Schedule of Reconciliation ofStatutory Federal Tax Rate and Effective Tax Rate | The table below provides the updated requirements of ASU 2023-09 for 2025, as previously referred to in Note 1, “Description of Business and Summary of Significant Accounting Policies—Recently Adopted Accounting Standards,” to the consolidated financial statements. The effective income tax rate for the year ended December 31, 2025 differs from the statutory federal income tax rate as follows:
| Year Ended December 31, 2025
| Amount |  | Percent
| (In thousands) |  |
United States statutory tax rate | $ | 3,484 |  |  | 21.0 | %
State and local income taxes, net of federal income tax effect (1) | (307) |  |  | (1.8) |
Foreign tax effects: |  |  |
Belgium: |  |  |
Effect of rates different than statutory | 297 |  |  | 1.8 |
Innovation income deduction | 702 |  |  | 4.2 |
Other | (28) |  |  | (0.2) |
Ireland: |  |  |
Other | (40) |  |  | (0.2) |
United Kingdom: |  |  |
Effect of rates different than statutory | 323 |  |  | 1.9 |
Other | (69) |  |  | (0.4) |
Other foreign jurisdictions | 115 |  |  | 0.7 |
Tax credits: |  |  |
Federal research credits | 4,247 |  |  | 25.6 |
Other | 150 |  |  | 0.9 |
Changes in valuation allowances | (1,901) |  |  | (11.5) |
Nontaxable or nondeductible items: |  |  |
Meals and entertainment | (195) |  |  | (1.2) |
Stock-based compensation | (1,700) |  |  | (10.2) |
Non-deductible executive compensation | (824) |  |  | (5.0) |
Income from branch | (288) |  |  | (1.7) |
Other | (125) |  |  | (0.8) |
Changes in unrecognized tax benefits | (284) |  |  | (1.7) |
Other adjustments: |  |  |
Other | 122 |  |  | 0.8 |
Effective tax rate | $ | 3,679 |  |  | 22.2 | %
________________________ (1) State taxes in Washington, D.C. and Virginia made up 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 effective income tax rate differs from the statutory federal income tax rate as follows:
|  |  | Year Ended December 31,
|  |  | 2024 |  | 2023
Federal tax rate |  |  | 21.0 | % |  | 21.0 | %
State tax rate - statutory blended rate |  |  | 4.2 |  |  | 4.3 |
Other effective state tax adjustments |  |  | (8.5) |  |  | (5.2) |
Non-deductible expenses |  |  | (4.6) |  |  | (4.1) |
Non-deductible executive compensation |  |  | (12.4) |  |  | — |
Research tax benefits |  |  | 49.4 |  |  | 24.4 |
Stock-based compensation |  |  | 1.2 |  |  | (18.0) |
Change in valuation allowance |  |  | (22.8) |  |  | (11.7) |
Deferred tax rate change |  |  | 0.1 |  |  | 0.6 |
Intangibles and deferred adjustments |  |  | (7.3) |  |  | — |
Foreign rate differential |  |  | 5.4 |  |  | 2.8 |
Other |  |  | 1.4 |  |  | 1.2 |
Total |  |  | 27.1 | % |  | 15.3 | %
Schedule of Significant Components of Net Deferred Tax Liability | The following table presents the significant components of the Company’s net deferred tax liability:
| As of December 31,
| 2025 |  | 2024
| (In thousands)
Deferred tax assets: |  |  |
Allowance for doubtful accounts | $ | 146 |  |  | $ | 276 |
Accrued liabilities | 3,497 |  |  | 3,256 |
Operating lease liabilities | 56,758 |  |  | 56,788 |
Deferred revenue | 1,828 |  |  | 1,913 |
Stock-based compensation | 2,322 |  |  | 2,826 |
Capitalized research and development expenses | 32,193 |  |  | 44,716 |
Tax credits | 19,807 |  |  | 15,694 |
Net operating losses | 20,632 |  |  | 12,761 |
Other deferred tax assets | 1,641 |  |  | 1,859 |
Gross deferred tax assets | 138,824 |  |  | 140,089 |
Less: valuation allowance | (71,324) |  |  | (70,008) |
Total deferred tax assets | 67,500 |  |  | 70,081 |
Deferred tax liabilities: |  |  |
Property, plant and equipment | 18,781 |  |  | 22,436 |
Goodwill | 1,699 |  |  | 1,554 |
Intangibles | 33,058 |  |  | 34,305 |
Operating lease assets | 38,441 |  |  | 39,090 |
Total deferred tax liabilities | 91,979 |  |  | 97,385 |
Net deferred tax liability | $ | 24,479 |  |  | $ | 27,304 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| Year Ended December 31,
| 2025 |  | 2024
| (In thousands)
Unrecognized tax benefits—January 1, | $ | 7,438 |  |  | $ | 6,170 |
Gross increases—tax positions in prior period | 284 |  |  | 91 |
Gross increases—tax positions in current period | 1,056 |  |  | 1,177 |
Unrecognized tax benefits—December 31, | $ | 8,778 |  |  | $ | 7,438 |
Schedule of Cash Flow, Supplemental Disclosures | A summary of income taxes paid (refunded) by jurisdiction is as follows:
| As of December 31, |  |
| 2025 |  |
| (In thousands)
US Federal | $ | (280) |  |  |
State: |  |  |
California | 674 |  |  |
Washington, D.C. | 206 |  |  |
Delaware | 95 |  |  |
New Jersey | 94 |  |  |
Pennsylvania | (157) |  |  |
Other State | (36) |  |  |
Foreign: |  |  |
Belgium | (821) |  |  |
Ireland | 94 |  |  |
Other Foreign | 76 |  |  |
Net Refund | $ | (55) |  |  |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration