INCOME TAXES (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
INCOME TAXES |
|
Components Of Consolidated Loss From Continuing Operations Before Income Taxes |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2024 |
|
2023 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
U.S. operations |
|
$ |
(34,575) |
|
$ |
(19,929) |
|
$ |
(24,318) |
Foreign operations |
|
|
(36,010) |
|
|
(150) |
|
|
(83,200) |
Loss from continuing operations before income tax |
|
$ |
(70,585) |
|
$ |
(20,079) |
|
$ |
(107,518) |
|
Components Of Benefit For Income Taxes |
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2024 |
|
2023 |
|
2022 |
|
|
|
|
|
|
|
|
|
Current: |
|
|
|
|
|
|
|
|
Federal |
$ |
- |
|
$ |
- |
|
$ |
- |
State and local |
|
26 |
|
|
90 |
|
|
150 |
Foreign |
|
2,642 |
|
|
833 |
|
|
1,575 |
|
|
2,668 |
|
|
923 |
|
|
1,725 |
Deferred: |
|
|
|
|
|
|
|
|
Federal |
|
25,835 |
|
|
(4,972) |
|
|
(1,338) |
State and local |
|
(1,271) |
|
|
300 |
|
|
(451) |
Foreign |
|
(9,380) |
|
|
(542) |
|
|
(14,652) |
|
|
15,184 |
|
|
(5,214) |
|
|
(16,441) |
|
|
|
|
|
|
|
|
|
Income tax expense (benefit) |
$ |
17,852 |
|
$ |
(4,291) |
|
$ |
(14,716) |
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2024 |
|
2023 |
|
2022 |
|
|
|
|
|
|
|
|
|
Continuing operations |
$ |
17,852 |
|
$ |
(4,291) |
|
$ |
(14,716) |
Discontinued operations |
|
479 |
|
|
2,024 |
|
|
7,365 |
|
$ |
18,331 |
|
$ |
(2,267) |
|
$ |
(7,351) |
|
Schedule Of Effective Income Tax Rate Reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2024 |
|
2023 |
|
2022 |
|
|
|
|
|
|
|
|
|
|
Statutory income tax benefit |
|
(21.0) |
% |
|
(21.0) |
% |
|
(21.0) |
% |
Increase (decrease) in income taxes resulting from: |
|
|
|
|
|
|
|
|
|
Foreign taxes |
|
(1.6) |
|
|
0.6 |
|
|
(3.5) |
|
State income taxes, net of federal income taxes |
|
(0.2) |
|
|
(1.9) |
|
|
1.0 |
|
Income tax credits |
|
(5.0) |
|
|
(6.6) |
|
|
(1.3) |
|
Stock options |
|
1.1 |
|
|
1.2 |
|
|
(0.9) |
|
Change in effective state rate |
|
(1.8) |
|
|
- |
|
|
0.1 |
|
Deferred tax asset write-offs |
|
- |
|
|
13.0 |
|
|
- |
|
Executive compensation limitation |
|
1.4 |
|
|
4.4 |
|
|
2.2 |
|
Change in valuation allowance |
|
41.7 |
|
|
(13.0) |
|
|
(1.0) |
|
Impairment of goodwill |
|
10.8 |
|
|
- |
|
|
10.3 |
|
Research and development expenditure |
|
0.6 |
|
|
1.9 |
|
|
0.4 |
|
Other |
|
(0.7) |
|
|
- |
|
|
- |
|
Income tax expense (benefit) |
|
25.3 |
% |
|
(21.4) |
% |
|
(13.7) |
% |
|
Schedule Of Deferred Tax Assets And Liabilities |
|
|
|
|
|
|
|
December 31, |
|
2024 |
|
2023 |
|
|
|
|
|
|
Deferred tax assets: |
|
|
|
|
|
Net operating loss, capital loss and research & experimentation credit carryforwards |
$ |
6,358 |
|
$ |
6,752 |
Capitalized research and development costs |
|
9,221 |
|
|
8,937 |
Capitalized costs to self-constructed property |
|
5,411 |
|
|
10,593 |
Non-cash compensation |
|
2,064 |
|
|
2,360 |
Accrued liabilities |
|
1,878 |
|
|
1,655 |
Reserves and other |
|
6,493 |
|
|
4,624 |
Lease liabilities |
|
3,472 |
|
|
3,902 |
Intangibles |
|
- |
|
|
1,070 |
Business Interest Limitation |
|
761 |
|
|
- |
|
|
35,658 |
|
|
39,893 |
Valuation allowance |
|
(23,344) |
|
|
(714) |
Net deferred tax assets |
|
12,314 |
|
|
39,179 |
Deferred tax liabilities: |
|
|
|
|
|
Depreciation |
|
(1,155) |
|
|
(1,712) |
Intangibles |
|
(18,983) |
|
|
(28,470) |
Right-of-use assets |
|
(3,046) |
|
|
(3,647) |
Other |
|
(1,304) |
|
|
(605) |
|
|
(24,488) |
|
|
(34,434) |
|
|
|
|
|
|
Total |
$ |
(12,174) |
|
$ |
4,745 |
|
Schedule Of Roll Forward Of Valuation Allowance For Deferred Income Tax Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at Beginning of Year |
|
Charged to Costs and Expenses |
|
Other Adjustments |
|
Balance at End of Year |
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
$ |
4,378 |
|
$ |
51 |
|
$ |
(1,106) |
|
$ |
3,323 |
2023 |
$ |
3,323 |
|
$ |
26 |
|
$ |
(2,635) |
|
$ |
714 |
2024 |
$ |
714 |
|
$ |
21,038 |
|
$ |
1,592 |
|
$ |
23,344 |
|
Schedule Of Unrecognized Tax Benefits |
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2024 |
|
2023 |
|
2022 |
|
|
|
|
|
|
|
|
|
Balance, beginning of year |
$ |
890 |
|
$ |
813 |
|
$ |
696 |
Additions for current year tax positions |
|
1,815 |
|
|
98 |
|
|
159 |
Additions for prior year tax positions |
|
310 |
|
|
8 |
|
|
- |
Reductions for prior year tax positions |
|
(16) |
|
|
- |
|
|
(42) |
Reductions due to statute expirations |
|
(136) |
|
|
(29) |
|
|
- |
Balance, end of year |
$ |
2,863 |
|
$ |
890 |
|
$ |
813 |
|