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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Provisions for Income Taxes

The provision for income taxes are:

		2024				2023				2022
Current:
Federal		$	(1,131	)		$	8,038			$	7,439
State			(271	)			1,211				2,173
Foreign			5,629				3,238				3,943
			4,227				12,487				13,555
Deferred:			—
Federal			783				(6,263	)			(2,763	)
State			1,208				(1,029	)			(1,243	)
Foreign			(336	)			(2,417	)			(988	)
			1,655				(9,709	)			(4,994	)
Total		$	5,882			$	2,778			$	8,561

Total Income Tax Expense Applying U.S. Federal Income Tax Rate

Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21.0% to income before income tax expense, as a result of the following:

		2024				2023				2022
Computed tax expense at statutory federal rates		$	(25,296	)		$	2,162			$	7,553
Increase (decrease) in taxes resulting from:
State taxes, net of federal income tax benefit			(3,117	)			756				1,493
Unrecognized tax benefits			(191	)			(585	)			(1,441	)
Income tax credits			(288	)			(720	)			(1,342	)
Foreign tax rate differential			2,710				1,025				785
Stock based compensation			685				219				55
Global intangible low-taxed income			—				685				—
Change in valuation allowance			29,730				1,376				379
Return to provision			(1,189	)			158				(693	)
Nondeductible expenses / (tax deductions)			2,161				(327	)			989
Gross receipts taxes			398				425				602
IP migration			—				(2,455	)			—
Other			279				59				181
Total		$	5,882			$	2,778			$	8,561

Components of Income before Provision

(Loss) income before provision for income taxes and losses on equity investments are:

		2024				2023				2022
Domestic		$	(103,918	)		$	6,672			$	28,739
International			(16,540	)			3,625				7,226
Total		$	(120,458	)		$	10,297			$	35,965

Deferred Tax Assets and Liability

Temporary differences between the consolidated financial statements’ carrying amounts and tax bases of assets and liabilities that give rise to significant portions of the net deferred tax liability at December 31, 2024 and 2023 relate to the following:

		2024				2023
Deferred tax assets
Inventories		$	9,322			$	2,764
Program accrual			10,486				9,742
Vacation pay accrual			682				864
Accrued bonuses and severance			882				37
Bad debt expense			2,550				2,143
Stock compensation			1,047				1,536
Domestic NOL carryforward			4,604				543
Foreign NOL carryforward			6,297				6,322
Tax credits			1,794				1,582
Lease liability			5,078				5,812
Accrued expenses			678				696
Unrealized foreign exchange loss			2,521				(1,182	)
Capitalized R&D costs			7,587				7,140
Other			2,970				—
Deferred tax assets			56,498				37,999
Less valuation allowance			(33,855	)			(3,317	)
Deferred tax assets, net		$	22,643			$	34,682
Deferred tax liabilities
Plant and equipment		$	(22,686	)		$	(32,336	)
Lease assets			(4,895	)			(5,617	)
Prepaid expenses			(1,809	)			(1,406	)
Other			—				(366	)
Deferred tax liabilities		$	(29,390	)		$	(39,725	)
Total net deferred tax assets (liabilities)		$	(6,747	)		$	(5,043	)

Gross Unrecognized Tax Benefits

The following is a roll-forward of the Company’s total gross unrecognized tax benefits, not including interest and penalties, for the years ended December 31, 2024 and 2023 included in other liabilities on the Company’s consolidated balance sheets:

		2024				2023
Balance at beginning of year		$	1,796			$	2,006
Additions for tax positions related to the current year			63				230
Additions for tax positions related to the prior years			—				302
Reduction for tax positions related to the prior years			(995	)			(799	)
Effect of exchange rate changes			39				57
Balance at end of year		$	903			$	1,796

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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 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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