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Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Taxes [Abstract]  
Income Taxes

Note 15 – Income Taxes

 

The income tax provision for the three months ended March 31, 2026 is $1.2 million, all included in results from discontinued operations. The income tax provision for the three months ended March 31, 2025 was immaterial.

 

The effective tax rate, inclusive of discrete items, was 0% and (0.12)%, respectively, which was driven by a combination of permanent adjustments related to partnership income, 162(m) compensation limitations, and acquisition costs and a valuation allowance.

 

The Company evaluated and considered all available evidence, both positive and negative, to determine whether, based on the weight of that evidence, a valuation allowance for its deferred tax assets was needed. The deferred tax assets are composed primarily of net operating loss carryforwards. The Company determine that a full valuation allowance against all deferred tax assets was appropriate for the three months period ended March 31, 2026 and March 31, 2025.