XML 67 R34.htm IDEA: XBRL DOCUMENT
v3.25.1

Income Tax (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Provision for Continuing Operations | The following table summarizes the components of the provision for (benefit from) income tax (in thousands):
| Year Ended December 31,
| 2024 |  | 2023
Current: |  |  |
Federal | $ | — |  |  | $ | — |
State | — |  |  | (102) |
Total current taxes | — |  |  | (102) |
Deferred: |  |  |
Federal | 2,313 |  |  | 1,839 |
State | 358 |  |  | 178 |
Total deferred taxes | 2,671 |  |  | 2,017 |
Other: |  |  |
Valuation allowance | (6,506) |  |  | (1,547) |
Provision for (benefit from) income taxes | $ | (3,835) |  |  | $ | 368 |
Reconciliation of Statutory Federal Income Tax Rate | The following table presents a reconciliation the statutory federal income tax rate to the Company's effective income tax rate:
| Year Ended December 31,
| 2024 |  | 2023
Federal statutory rate | 21.00 | % |  | 21.00 | %
State income taxes, net of federal benefit | 4.74 | % |  | 4.64 | %
Permanent differences | 0.55 | % |  | 0.50 | %
Return to provision | 0.01 | % |  | (0.99) | %
Change in valuation allowance | (60.66) | % |  | (18.99) | %
Change in state tax rate | (0.14) | % |  | (0.21) | %
Other | (1.26) | % |  | (1.44) | %
Effective tax rate | (35.76) | % |  | 4.51 | %
Components of Deferred Tax Assets and Liabilities | The following table summarizes the components of the Company's deferred tax assets and liabilities (in thousands):
| December 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Net operating loss and tax credit carryforwards | $ | 28,589 |  |  | $ | 31,465 |
Stock-based compensation | 538 |  |  | 471 |
Investments in affiliates | 1,420 |  |  | 1,395 |
Right of use lease liability | 1,615 |  |  | 1,825 |
Bonus accrual | 1,277 |  |  | 1,172 |
Valuation allowance | (17,146) |  |  | (23,666) |
Total deferred tax assets | 16,293 |  |  | 12,662 |
Deferred tax liabilities: |  |  |
Right of use lease asset | (1,523) |  |  | (1,739) |
Depreciation and amortization | (50) |  |  | (38) |
Total deferred tax liabilities | (1,573) |  |  | (1,777) |
Net deferred income tax assets (liabilities) | $ | 14,720 |  |  | $ | 10,885 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration