INCOME TAXES (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| INCOME TAXES |
|
| Components Of Consolidated Loss From Continuing Operations Before Income Taxes |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2025 |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
|
|
U.S. operations |
|
$ |
(26,711) |
|
$ |
(34,575) |
|
$ |
(19,929) |
Foreign operations |
|
|
(30,378) |
|
|
(36,010) |
|
|
(150) |
Loss from continuing operations before income tax |
|
$ |
(57,089) |
|
$ |
(70,585) |
|
$ |
(20,079) |
|
| Components Of Benefit For Income Taxes |
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2025 |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
|
Current: |
|
|
|
|
|
|
|
|
Federal |
$ |
79 |
|
$ |
- |
|
$ |
- |
State and local |
|
234 |
|
|
26 |
|
|
90 |
Foreign |
|
460 |
|
|
2,642 |
|
|
833 |
|
|
773 |
|
|
2,668 |
|
|
923 |
Deferred: |
|
|
|
|
|
|
|
|
Federal |
|
372 |
|
|
25,835 |
|
|
(4,972) |
State and local |
|
(48) |
|
|
(1,271) |
|
|
300 |
Foreign |
|
(11,630) |
|
|
(9,380) |
|
|
(542) |
|
|
(11,306) |
|
|
15,184 |
|
|
(5,214) |
|
|
|
|
|
|
|
|
|
Income tax (benefit) expense |
$ |
(10,533) |
|
$ |
17,852 |
|
$ |
(4,291) |
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2025 |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
|
Continuing operations |
$ |
(10,533) |
|
$ |
17,852 |
|
$ |
(4,291) |
Discontinued operations |
|
- |
|
|
479 |
|
|
2,024 |
|
$ |
(10,533) |
|
$ |
18,331 |
|
$ |
(2,267) |
|
| Schedule Of Effective Income Tax Rate Reconciliation |
|
|
|
|
|
|
|
Year Ended December 31, |
|
2025 |
|
|
|
|
|
|
U.S. Federal statutory income tax benefit |
$ |
(11,990) |
|
(21.0) |
% |
Increase (decrease) in income taxes resulting from: |
|
|
|
|
|
State and local tax effects |
|
|
|
|
|
State and local income taxes, before federal income tax effect (a) |
|
(211) |
|
(0.4) |
|
Foreign tax effects |
|
|
|
|
|
Australia |
|
|
|
|
|
Statutory tax rate difference between Australia and U.S. |
|
(2,844) |
|
(5.0) |
|
Changes in valuation allowances |
|
1,328 |
|
2.3 |
|
Other |
|
(223) |
|
(0.4) |
|
Austria |
|
|
|
|
|
Sales Gain/Loss |
|
(1,376) |
|
(2.4) |
|
Other |
|
322 |
|
0.6 |
|
Other foreign jurisdictions |
|
60 |
|
0.1 |
|
Tax Credit |
|
|
|
|
|
Research and development tax credits |
|
(448) |
|
(0.8) |
|
Changes in valuation allowances |
|
4,109 |
|
7.2 |
|
Nontaxable or nondeductible items |
|
|
|
|
|
Executive compensation limitation |
|
927 |
|
1.6 |
|
Other |
|
236 |
|
0.4 |
|
Changes in unrecognized tax benefits |
|
(157) |
|
(0.3) |
|
Other adjustments |
|
(266) |
|
(0.4) |
|
Income tax benefit |
$ |
(10,533) |
|
(18.5) |
% |
|
(a) |
For the year ended December 31, 2025, a majority (greater than 50 percent) of the Company’s state income tax expense related to Utah.
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2024 |
|
2023 |
|
|
|
|
|
|
|
Statutory income tax benefit |
|
(21.0) |
% |
|
(21.0) |
% |
Increase (decrease) in income taxes resulting from: |
|
|
|
|
|
|
Foreign taxes |
|
(1.6) |
|
|
0.6 |
|
State income taxes, net of federal income taxes |
|
(0.2) |
|
|
(1.9) |
|
Income tax credits |
|
(5.0) |
|
|
(6.6) |
|
Stock options |
|
1.1 |
|
|
1.2 |
|
Change in effective state rate |
|
(1.8) |
|
|
- |
|
Deferred tax asset write-offs |
|
- |
|
|
13.0 |
|
Executive compensation limitation |
|
1.4 |
|
|
4.4 |
|
Change in valuation allowance |
|
41.7 |
|
|
(13.0) |
|
Impairment of goodwill |
|
10.8 |
|
|
- |
|
Research and development expenditure |
|
0.6 |
|
|
1.9 |
|
Other |
|
(0.7) |
|
|
- |
|
Income tax expense (benefit) |
|
25.3 |
% |
|
(21.4) |
% |
|
| Schedule Of Deferred Tax Assets And Liabilities |
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
|
|
|
|
|
|
Deferred tax assets: |
|
|
|
|
|
Net operating loss, capital loss and research & experimentation credit carryforwards |
$ |
16,493 |
|
$ |
6,358 |
Capitalized research and development costs |
|
8,950 |
|
|
9,221 |
Capitalized costs to self-constructed property |
|
790 |
|
|
5,411 |
Non-cash compensation |
|
2,233 |
|
|
2,064 |
Accrued liabilities |
|
1,629 |
|
|
1,878 |
Reserves and other |
|
4,898 |
|
|
6,493 |
Depreciation |
|
231 |
|
|
- |
Lease liabilities |
|
2,832 |
|
|
3,472 |
Business Interest Limitation |
|
2,244 |
|
|
761 |
|
|
40,300 |
|
|
35,658 |
Valuation allowance |
|
(29,315) |
|
|
(23,344) |
Net deferred tax assets |
|
10,985 |
|
|
12,314 |
Deferred tax liabilities: |
|
|
|
|
|
Depreciation |
|
- |
|
|
(1,155) |
Intangibles |
|
(9,253) |
|
|
(18,983) |
Right-of-use assets |
|
(2,485) |
|
|
(3,046) |
Other |
|
(610) |
|
|
(1,304) |
|
|
(12,348) |
|
|
(24,488) |
|
|
|
|
|
|
Total |
$ |
(1,363) |
|
$ |
(12,174) |
|
| 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 |
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
$ |
3,323 |
|
$ |
26 |
|
$ |
(2,635) |
|
$ |
714 |
2024 |
$ |
714 |
|
$ |
21,038 |
|
$ |
1,592 |
|
$ |
23,344 |
2025 |
$ |
23,344 |
|
$ |
7,204 |
|
$ |
(1,233) |
|
$ |
29,315 |
|
| Schedule Of Unrecognized Tax Benefits |
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2025 |
|
2024 |
|
2023 |
|
|
|
|
|
|
|
|
|
Balance, beginning of year |
$ |
2,863 |
|
$ |
890 |
|
$ |
813 |
Additions for current year tax positions |
|
1,713 |
|
|
1,815 |
|
|
98 |
Additions for prior year tax positions |
|
305 |
|
|
310 |
|
|
8 |
Reductions for prior year tax positions |
|
(27) |
|
|
(16) |
|
|
- |
Reductions due to statute expirations |
|
(106) |
|
|
(136) |
|
|
(29) |
Balance, end of year |
$ |
4,748 |
|
$ |
2,863 |
|
$ |
890 |
|
| Schedule of significant income taxes paid (refunded) by jurisdiction |
|
|
|
|
Year Ended December 31, |
|
2025 |
|
|
|
Federal |
$ |
- |
State |
|
|
Missouri |
|
(106) |
Other state |
|
(22) |
Foreign |
|
|
Australia |
|
962 |
Austria |
|
96 |
Other foreign |
|
6 |
Total income tax paid |
$ |
936 |
|