XML 37 R19.htm IDEA: XBRL DOCUMENT
v3.25.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Taxes |
Income Taxes | 13. Income Taxes. Income tax (benefit) expense from continuing operations consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ended December 31 |  | 2024 |  | 2023
State | ​ | $ | 21,000 | ​ | $ | 20,000
Foreign | ​ | ​ | 730,000 | ​ | ​ | —
Total current tax expense | ​ | ​ | 751,000 | ​ | ​ | 20,000
Federal | ​ | ​ | (2,731,000) | ​ | ​ | —
State | ​ | ​ | (193,000) | ​ | ​ | —
Foreign | ​ | ​ | (156,000) | ​ | ​ | ​
Total deferred tax benefit | ​ | ​ | (3,080,000) | ​ | ​ | —
Total income tax (benefit) expense | ​ | $ | (2,329,000) | ​ | $ | 20,000
​ For the year ended December 31, 2024, the income tax benefit attributable to noncontrolling interest was $298,000. Income tax (benefit) expense differs from the expected tax (benefit) expense computed by applying the U.S. federal corporate income tax rate of 21% to loss from continuing operations before income taxes as a result of the following: ​
​ | ​ | ​ | ​ | ​ | ​
Year Ended December 31 |  | 2024 |  | 2023 | ​
Federal statutory rate |  | 21.0 | % | 21.0 | %
Stock-based awards |  | — |  | (0.5) | ​
State income taxes |  | 1.0 |  | 3.1 | ​
Foreign income taxes | ​ | (0.6) | ​ | — | ​
Permanent differences | ​ | (0.7) | ​ | — | ​
Change in valuation allowance |  | 5.4 |  | (24.6) | ​
Other |  | (0.9) |  | 0.3 | ​
Effective income tax rate |  | 25.2 | % | (0.7) | %
​ Components of resulting noncurrent deferred tax assets (liabilities) are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
As of December 31 |  | 2024 |  | 2023
Deferred tax assets | ​ | ​ | ​ | ​ | ​ | ​
Accrued expenses | ​ | $ | 57,000 | ​ | $ | 117,000
Stock-based awards | ​ |  | — | ​ |  | 9,000
Reserve for bad debts | ​ |  | — | ​ |  | 2,000
Net operating loss and credit carryforwards | ​ |  | 1,968,000 | ​ |  | 529,000
Right of use liability | ​ | ​ | 8,458,000 | ​ | ​ | ​
Other | ​ |  | 665,000 | ​ |  | 2,000
Total deferred tax assets | ​ | $ | 11,148,000 | ​ | $ | 659,000
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities | ​ |  |  | ​ |  |
Depreciation | ​ | $ | (2,207,000) | ​ | $ | (5,000)
Accrued expenses | ​ | ​ | (1,530,000) | ​ | ​ | —
Intangible assets | ​ | ​ | (6,581,000) | ​ | ​ | —
Right of use asset | ​ | ​ | (8,321,000) | ​ | ​ | —
Prepaid expenses | ​ |  | — | ​ |  | (9,000)
Other | ​ | ​ | (7,000) | ​ | ​ | —
Total deferred tax liabilities | ​ |  | (18,646,000) | ​ |  | (14,000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax liabilities | ​ | ​ | (7,498,000) | ​ | ​ | 645,000
Valuation allowance | ​ | ​ | (144,000) | ​ | ​ | (645,000)
Net deferred tax liabilities after valuation allowance | ​ | $ | (7,642,000) | ​ | $ | —
​ As of December 31, 2024, the Company had a Federal pre-tax net operating loss (NOL) to carry forward of approximately $8,110,000 and state pre-tax NOLs of approximately $7,185,000 to carry forward. The Federal NOLs can be carried forward indefinitely. The expiration of state NOLs carried forward varies by taxing jurisdiction. Future utilization of NOLs carried forward may be subject to certain limitations under Section 382 of the Internal Revenue Code. The Company evaluates all significant available positive and negative evidence, including the existence of losses in prior years and its forecast of future taxable income, in assessing the need for a valuation allowance. The underlying assumptions the Company uses in forecasting future taxable income require significant judgment and take into consideration the Company’s recent performance. The change in the valuation allowance for the year ended December 31, 2024 was a decrease of $501,000. The decrease in the valuation allowance in 2024 related to the reversal of the valuation allowance on federal deferred tax assets due to the Company being in an overall deferred tax liability position. The Company’s valuation allowance as of December 31, 2024 was related to state NOLs that are not expected to be utilized. The Company has recorded a liability of $35,000 and $42,000 for uncertain tax positions taken on tax returns in previous years as of December 31, 2024 and 2023, respectively. This liability is reflected as accrued expenses and other current liabilities on the Company’s balance sheet. The amount of the unrecognized tax benefits, if recognized, that would affect the effective income tax rates of future periods is $35,000. The Company files income tax returns in the United States and numerous state and local tax jurisdictions. Tax years 2021 and forward are open for examination and assessment by the Internal Revenue Service. With limited exceptions, tax years prior to 2021 are no longer open in major state and local tax jurisdictions. The Company has recorded a decrease of approximately $8,000 in unrecognized tax benefits related to state exposure in the year ended 2024, which reduced accrued income taxes and increased the current income tax benefit. The Company determined it was no longer more likely than not that the Company would realize the tax expense. A reconciliation of the beginning and ending amount of the liability for uncertain tax positions is as follows: ​
​ | ​ | ​ | ​
Balance at December 31, 2022 |  | $ | 53,000
Decrease due to state tax expense | ​ |  | (16,000)
Increases due to interest and state tax | ​ |  | 5,000
Balance at December 31, 2023 | ​ | $ | 42,000
​ | ​ | ​ | ​
Decrease due to state tax expense | ​ | ​ | (8,000)
Increases due to interest and state tax | ​ |  | 1,000
Balance at December 31, 2024 | ​ | $ | 35,000
​

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 The entire disclosure for income tax. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/740/tableOfContent Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration