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Note 7 - Income Taxes
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

7.

Income Taxes

 

Income tax expense was $0.1 million and zero for the three months ended June 30, 2026 and 2025, respectively, and $0.1 million and zero for the six months ended June 30, 2026 and 2025, respectively.

 

The Company’s TRS is subject to federal and state income taxes. As of each reporting date, the Company's management considers new evidence, both positive and negative, that could impact management's view with regard to future realization of deferred tax assets. The Company's TRS continues to have cumulative three-year taxable losses. As of June 30, 2026, the Company's TRS continues to recognize a full valuation allowance equal to 100% of the net deferred tax assets. Management will continue to monitor the need for a valuation allowance.