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INCOME TAXES
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES
NOTE 8 - INCOME TAXES

We maintain the exception under ASC 740-270-30-36(b), “Accounting for Income Taxes,” for jurisdictions that do not have reliable estimates of ordinary income. Accordingly, we have used a year-to-date methodology in determining the effective tax rate for the three and six months ended June 30, 2025 and 2024.
For the three and six months ended June 30, 2025, the Company's effective tax rate was 9.4% and 14.4%, respectively. For the three and six months ended June 30, 2024 the Company’s effective tax rate was (1.8)% and (4.6)%, respectively. The differences between the U.S. statutory tax rate and the effective tax rates for the three and six months ended June 30, 2025 and 2024 were primarily driven by the recognition of a full deferred tax asset valuation allowance in various jurisdictions in both years. Additionally, the three and six months ended June 30, 2025 were impacted by the gain recognized in connection with the divestiture of Geomagic.
On July 4, 2025, the U.S. enacted H.R. 1, commonly referred to as the One Big Beautiful Bill Act (OBBBA). The Company is continuing to evaluate the impacts of the new legislation on the Consolidated Financial Statements.