v3.25.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF INCOME TAX PROVISION (BENEFIT)

The income tax provision (benefit) for the years ended December 31, 2024, 2023, and 2022 consisted of the following:

 SCHEDULE OF INCOME TAX PROVISION (BENEFIT)

		For the Years Ended
		December 31,
		2024				2023				2022
Federal:
Current		$	-			$	-			$	-
Deferred			(9,133	)			(7,129	)			(22,605	)
State:
Current			177				-				-
Deferred			(2,564	)			426				(1,430	)
Foreign:
Current			538				1,493				317
Deferred			(3,513	)			(7,995	)			(4,120	)
			(14,495	)			(13,205	)			(27,837	)
Change in valuation allowance			15,209				14,699				28,145
Provision for income taxes		$	714			$	1,494			$	308

SUMMARY OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX RATE AND EFFECTIVE INCOME TAX RATE

A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:

 SUMMARY OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX RATE AND EFFECTIVE INCOME TAX RATE

		2024				2023				2022
		For the Years Ended
		December 31,
		2024				2023				2022
Tax benefit at federal statutory rate			(21.0	)%			(21.0	)%			(21.0	)%
State income taxes, net of federal benefit			(1.2	)%			0.2	%			(1.3	)%
Permanent differences:
Stock compensation			0.2	%			1.5	%			0.6	%
Impairment of intangibles and goodwill			13.5	%			9.8	%			0.0	%
Section 162(m)			0.0	%			1.9	%			1.7	%
Other permanent differences			0.0	%			0.2	%			0.7	%
Tax credits			0.0	%			0.0	%			0.0	%
Income from non-includable foreign entities			2.0	%			1.8	%			4.3	%
Deferred adjustments and true-up			0.6	%			2.3	%			(11.2	)%
Change in valuation allowance			7.7	%			7.3	%			30.8	%
Foreign tax			(1.5	)%			(3.2	)%			(4.2	)%
Effective income tax rate			0.4	%			0.7	%			0.3	%

SCHEDULE OF DISAGGREGATION OF DOMESTIC AND FOREIGN PRE-TAX LOSS

The disaggregation of the Company’s domestic and foreign pre-tax loss for the years ended December 31, 2024, 2023, and 2022, is as follows:

 SCHEDULE OF DISAGGREGATION OF DOMESTIC AND FOREIGN PRE-TAX LOSS

		2024				2023				2022
		For the Year Ended December 31,
		2024				2023				2022
U.S.		$	(178,810	)		$	(151,883	)		$	(76,528	)
Foreign			(18,608	)			(50,316	)			(14,724	)
Total		$	(197,418	)		$	(202,199	)		$	(91,252	)

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The tax effects of temporary differences that give rise to deferred tax assets and liabilities are presented below:

 SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

		2024				2023
		December 31
		2024				2023
Deferred Tax Assets:
Net operating loss carryforwards-federal		$	71,205			$	64,075
Net operating loss carryforwards-states			12,160				9,837
Net operating loss carryforwards-UK			6,560				4,759
Net operating loss carryforwards-Belgium			10,523				8,454
Tax credits			686				656
Stock-based compensation			560				1,542
Accruals			958				513
Deferred revenue			1,763				2,052
Allowance for doubtful accounts			1,536				1,180
Goodwill			682				714
Capitalized Sec.174 R&D			2,148				1,154
Lease liability			1,945				1,781
Other			1,956				497
Deferred tax assets, gross			112,682				97,214
Deferred Tax Liabilities:
Intangible assets			(2,197	)			(3,743	)
Fixed assets			(3,453	)			(2,226	)
Unrealized gain/loss			(175	)			(80	)
Lease Asset			(1,685	)			(1,644	)
Other			(257	)			(81	)
Deferred tax liabilities, gross			(7,767	)			(7,774	)
Net deferred tax assets			104,915				89,440
Valuation allowance			(104,889	)			(89,414	)
Deferred tax assets, net of valuation allowance			26				26
Change in valuation allowance		$	15,475			$	21,024

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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