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INCOME TAX (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
SCHEDULE OF PRETAX INCOME (LOSS) | Pretax income (loss) resulting from domestic and foreign operations is as follows (in thousands):
| 2024 |  | 2023
United States | $ | (19,382) |  |  | $ | (30,393) |
Foreign | (11,185) |  |  | (11,779) |
Other Foreign Jurisdictions | 323 |  |  | 4,882 |
Total pretax book loss | $ | (30,244) |  |  | $ | (37,290) |
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE | The components of income tax (benefit) expense at December 31, 2024 and December 31, 2023, are as follows (in thousands):
| 2024 |  | 2023
Current: |  |  |
Federal | $ | (23) |  |  | $ | 855 |
State | 55 |  |  | 93 |
Foreign | 875 |  |  | 1,589 |
Total Current | $ | 907 |  |  | $ | 2,537 |
Deferred: |  |  |
Federal | $ | — |  |  | $ | 81 |
State | — |  |  | — |
Foreign | (2,816) |  |  | (752) |
Total Deferred | $ | (2,816) |  |  | $ | (671) |
Total | $ | (1,909) |  |  | $ | 1,866 |
SCHEDULE OF RECONCILIATION FOR PROVISION FOR INCOME TAXES | The reconciliation of the provision for income taxes at the United States Federal statutory rate compared to the Company’s income tax expense (benefit) as reported is as follows (in thousands):
| 2024 |  | 2023
Loss before income taxes | $ | (30,244) |  |  | $ | (37,290) |
Income tax benefit computed at the statutory rate | (6,351) |  |  | (7,831) |
State income taxes-net of federal tax benefit | 35 |  |  | 74 |
Foreign tax rate differential | (474) |  |  | (273) |
Section 162(m) compensation | — |  |  | 61 |
Foreign currency adjustment | 1 |  |  | (90) |
GILTI inclusion | 404 |  |  | 693 |
Meals | 43 |  |  | 75 |
Stock compensation | 146 |  |  | 141 |
Amortization | — |  |  | 4,845 |
Other book-tax differences | 286 |  |  | (865) |
Adjustments to prior periods – temporary differences | 693 |  |  | 1,000 |
Rate changes and differentials | (750) |  |  | (53) |
Change in valuation allowance | 4,058 |  |  | 4,089 |
Income tax (benefit) expense | $ | (1,909) |  |  | $ | 1,866 |
SCHEDULE OF TAX EFFECTS OF TEMPORARY DIFFERENCES | Tax effects of temporary differences at December 31, 2024 and December 31, 2023 are as follows (in thousands):
Deferred tax assets: | 2024 |  | 2023
Fixed assets | $ | 51 |  |  | $ | 15 |
Allowance for bad debts | 1,022 |  |  | 926 |
Inventory | 408 |  |  | 432 |
R&D amortization | 1,650 |  |  | 1,172 |
Accrued expenses | 48 |  |  | — |
Deferred revenue | 5,960 |  |  | 6,143 |
Stock compensation | 108 |  |  | 291 |
Right of use liability | 327 |  |  | 501 |
Other | 97 |  |  | — |
Interest expense limitation | 8,770 |  |  | 6,051 |
Net operating loss carry-forwards | 6,736 |  |  | 6,635 |
Deferred tax assets | $ | 25,177 |  |  | $ | 22,166 |
Valuation allowance | (22,231) |  |  | (18,173) |
Deferred tax assets, net | $ | 2,946 |  |  | $ | 3,993 |
Deferred tax liabilities: | 2024 |  | 2023
Intangible assets | (2,019) |  |  | (6,671) |
Accrued expenses | (1,277) |  |  | (982) |
Prepaid expenses | (47) |  |  | (48) |
Right of use asset | (353) |  |  | (492) |
Other | (151) |  |  | (116) |
Deferred tax liabilities | $ | (3,847) |  |  | $ | (8,309) |
Deferred tax liabilities, net | $ | (901) |  |  | $ | (4,316) |

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- 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
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