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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The domestic and foreign components of income before provision for (benefit from) income taxes were as follows (in thousands):

			December 31,
			2025						2024						2023
Domestic			$	(21,895)					$	9,737					$	5,371
Foreign			5,941						8,037						5,134
Income before provision for (benefit from) income taxes			$	(15,954)					$	17,774					$	10,505

Schedule of Components of Income Tax Expense (Benefit)

The provision for (benefit from) income taxes consisted of the following (in thousands):

			December 31,
			2025						2024						2023
Current provisions for income taxes:
Federal			$	730					$	10,561					$	11,059
State			1,292						3,199						2,026
Foreign			2,608						2,494						1,947
Total current tax expense			4,630						16,254						15,032
Deferred tax expense (benefit):
Federal			(4,693)						(8,731)						(11,825)
State			(1,300)						(1,960)						(1,391)
Foreign			(129)						(293)						(192)
Total deferred tax benefit			(6,122)						(10,984)						(13,408)
Total provision for (benefit from) income taxes			$	(1,492)					$	5,270					$	1,624

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 (in thousands, except percentages):

						Year Ended December 31, 2025
						Amount						Percentage
U.S. federal statutory rate						$	(3,340)					21.0		%
State and local income taxes, net of federal effect1						(279)						1.8
Foreign tax effects
India						562						(3.5)
Singapore						445						(2.8)
Other foreign jurisdictions						115						(0.7)
Changes in tax laws or rates in the current period						—						—
Cross border tax laws
Foreign derived intangible income						(404)						2.5
Tax credits
Research and development credits						(2,993)						18.8
Changes in valuation allowance						—						—
Nontaxable or nondeductible Items
Tax effects of share-based compensation2						1,896						(11.9)
Non-deductible officer compensation						705						(4.4)
Acquisition related cost						826						(5.2)
Other						282						(1.8)
Changes in unrecognized tax benefits						693						(4.4)
Effective Tax Rate						$	(1,492)					9.4		%

_______________

(1)During the year ended December 31, 2025, New York state and city made up the majority (greater than 50 percent) of the tax effect in this category.

(2)Includes amounts related to non-taxable and non-deductible share-based compensation, in addition to excess tax benefits or shortfalls from share-based compensation. Our income tax benefit includes $0.7 million of tax shortfalls from share-based compensation for 2025.

The following table presents a reconciliation of the provision for income taxes to the amount computed by applying the 21% U.S. federal statutory income tax rate to the income before taxes prior to the adoption of ASU 2023-09 for the periods presented (in percentages):

									December 31,
									2024						2023
Federal statutory income tax rate									21.00		%				21.00		%
State after-tax rate									3.60						2.82
Stock options									1.23						19.25
Research credit									(6.33)						(10.20)
Transfer pricing reserve									(0.77)						1.54
Foreign rate differential									1.32						4.64
GILTI									—						(11.62)
Foreign derived intangible income									(11.52)						(22.57)
Section 162(m) limitation									14.15						7.18
Acquisition-related costs									5.56						1.22
Change in valuation allowance									0.61						—
Other									0.79						2.18
Effective tax rate									29.64		%				15.44		%

Schedule of Deferred Tax Assets and Liabilities

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

			December 31,
			2025						2024
Deferred tax assets:
Accruals and allowances			6,740						3,244
Tax credits			2,664						1,987
Stock-based compensation			11,441						9,155
Intangibles assets			451						583
Lease obligation			9,039						9,658
R&D capitalization			22,502						21,950
Other			1,203						1,283
Total deferred tax assets			54,040						47,860
Valuation allowance			(2,675)						(2,118)
Total deferred tax assets, net of valuation allowance			51,365						45,742
Deferred tax liabilities:
Property, equipment, and software			(8,988)						(8,569)
Goodwill			(1,037)						(945)
Prepaid expense			(1,508)						(832)
Right-of-use asset			(8,160)						(9,445)
Acquired intangibles			(686)						(1,087)
Total deferred tax liabilities			(20,379)						(20,878)
Net deferred income tax asset (liabilities)			$	30,986					$	24,864

Schedule of Unrecognized Tax Benefits Roll Forward

The activity related to the unrecognized income tax benefits is as follows (in thousands):

			Year Ended December 31,
			2025						2024						2023
Gross unrecognized income tax benefits — beginning balance			$	4,695					$	4,381					$	4,303
Increases related to tax positions taken during the current year			1,475						1,091						1,104
Increases related to tax positions taken during the prior years			324						10						—
Decreases related to tax positions taken during the prior years			(783)						(787)						(1,026)
Gross unrecognized income tax benefits — ending balance			$	5,711					$	4,695					$	4,381

Schedule of Income Taxes Paid Net Of Refunds

Income taxes paid (net of refunds) are as follows (in thousands):

						Year Ended December 31,
						2025						2024						2023
Federal						$	4,554
State and Local
New York state						710
New York City						905
Other						417
Foreign
India						1,391
Other						633
Total income taxes paid (net of refunds)						$	8,610
Total cash paid for income taxes (prior to ASU 2023-09 adoption)												$	14,176					$15,631

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