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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income tax expense for the years ended December 31, 2024, 2023, and 2022 consisted of the following (in thousands):

			2024						2023						2022
Current
Federal			$	7,059					$	25,170					$	35,857
State			2,040						3,001						5,558
Total current			9,099						28,171						41,415
Deferred
Federal			(6,325)						1,523						(738)
State			(1,078)						(312)						(186)
Total deferred			(7,403)						1,211						(924)
Provision for income taxes			$	1,696					$	29,382					$	40,491

Schedule of Components of Total Income Tax Provision

Those amounts have been allocated to the following financial statement items (in thousands):

			2024						2023						2022
Provision for income taxes			$	1,696					$	29,382					$	40,491
Stockholders' equity, unrealized (losses) gains on investment securities & foreign currency			(52)						112						(27)
Total provision for income taxes			$	1,644					$	29,494					$	40,464

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the United States federal statutory tax provision to the Company’s provision for income taxes for the years ended December 31, 2024, 2023, and 2022 (in thousands, except percentages):

			2024												2023												2022
Statutory federal tax			$	795					21.0		%				$	27,048					21.0		%				$	38,621					21.0		%
State income taxes, net of federal benefit			759						20.0		%				2,124						1.7		%				4,635						2.5		%
Foreign taxes
Hong Kong			(5)						(0.1)		%				63						0.0		%				75						0.0		%
Singapore			(1)						0.0		%				(199)						(0.2)		%				28						0.0		%
Share-based compensation			889						23.4		%				143						0.1		%				(26)						—		%
Research and development and jobs credits			(713)						(18.9)		%				(1,258)						(1.0)		%				(819)						(0.4)		%
Executive compensation			52						1.2		%				1,895						1.5		%				1,470						0.8		%
Charitable donations			(236)						(6.2)		%				(1,094)						(0.8)		%				(4,316)						(2.3)		%
Valuation allowance			(20)						(0.5)		%				(613)						(0.5)		%				396						0.2		%
Intercompany loan restructuring			—						—		%				1,167						0.9		%				—						—		%
Other permanent differences			176						4.9		%				106						0.1		%				427						0.2		%
Provision for income taxes			$	1,696					44.8		%				$	29,382					22.8		%				$	40,491					22.0		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets (liabilities) consisted of the following (in thousands):

			December 31, 2024						December 31, 2023
Reserves on inventory and sales			$	472					$	721
Credit and loss carryforwards			2,730						2,881
Stock compensation			2,055						1,784
Accrued expenses and deferred costs			2,235						2,986
Inventory capitalization			708						587
Lease obligations			4,047						5,542
Capitalized research costs			7,028						5,841
Charitable donations			83						114
State taxes			1,594						1,520
Unrealized loss on investment			967						—
Other			183						164
Valuation allowance			(1,624)						(1,680)
Total deferred tax assets			20,478						20,460
Right-of-use assets			(2,800)						(3,938)
Prepaid expenses			(1,590)						(2,084)
Depreciation			(4,628)						(10,321)
Total deferred tax liabilities			(9,018)						(16,343)
Net deferred tax assets			$	11,460					$	4,117

Schedule of Unrecognized Tax Benefits Roll Forward

The amounts of unrecognized tax benefits were as follows (in thousands):

			December 31, 2024						December 31, 2023
Unrecognized tax benefit at the beginning of the period			$	7,502					$	6,011
Increase for current year tax positions			71						1,744
(Decrease) increase for prior period tax positions			(5)						38
Reduction due to lapse in statute of limitations			(135)						(291)
Unrecognized tax benefit at the end of the period			$	7,433					$	7,502

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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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