v3.25.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Loss from Operations Before Benefit for Income Taxes
The Company’s loss from operations before benefit for income taxes for the years ended December 31, 2024 and 2023 consisted of the following:

For the Year Ended December 31,
(in thousands)20242023
United States$(108,848)$(140,821)
Foreign(43,165)(30,379)
Total loss before income taxes$(152,013)$(171,200)
Schedule of Components of the Benefit from Income Taxes
The components of the provision (benefit) from income taxes consisted of the following:
For the Year Ended December 31,
(in thousands)20242023
Current:
Federal$3,488 $5,788 
State402 743 
Foreign282 723 
Total current provision$4,172 $7,254 
Deferred:
Federal(5,779)(8,580)
State(902)(946)
Foreign(3,428)(1,886)
Total deferred benefit(10,109)(11,412)
Total income tax benefit$(5,937)$(4,158)
Schedule of Reconciliation Between Income Taxes Computed at the U.S. Statutory Income Tax Rate
The reconciliation between income taxes computed at the U.S. statutory income tax rate to the Company’s benefit from income taxes for the years ended December 31, 2024 and 2023 is set forth in the table below as follows:

For the Year Ended December 31,
(in thousands)20242023
Benefit for income taxes at 21% rate$(31,923)21.0 %$(35,952)21.0 %
State taxes, net of federal benefit(1,621)1.0 %(2,123)1.2 %
Change in valuation allowance11,917 (7.8)%16,889 (9.9)%
Rate change(301)0.2 %(44)— %
Credits(544)0.4 %(544)0.3 %
Permanent differences and other(654)0.4 %(254)0.2 %
Revaluation of warrants(848)0.6 %1,352 (0.8)%
Uncertain tax positions1,591 (1.0)%1,580 (0.9)%
Foreign withholding tax118 (0.1)%148 (0.1)%
Foreign rate differential(1,971)1.2 %(1,725)1.0 %
Executive compensation expense393 (0.3)%113 (0.1)%
Global intangible low taxed income— — %314 (0.2)%
Goodwill impairment11,666 (7.7)%13,873 (8.1)%
Stock-based compensation1,774 (1.2)%1,684 (0.9)%
Preferred stock dividend4,466 (2.9)%531 (0.4)%
Benefit for income taxes$(5,937)3.8 %$(4,158)2.3 %
Schedule of Deferred Income Taxes
Significant components of the Company’s deferred tax assets (liabilities) as of December 31, 2024 and 2023 are set forth as follows:

December 31,
(in thousands)20242023
Deferred tax assets:
Net operating loss carryforward$20,515 $17,221 
Credit carryforward1,329 1,325 
Interest expense limitation carryforward26,889 21,978 
Non-deductible reserves2,052 1,571 
Accruals and other temporary differences2,757 2,622 
Stock compensation782 1,665 
Capitalized research and development costs1,916 2,301 
Lease liability2,532 2,745 
Property and equipment3,264 1,849 
Gross deferred tax assets$62,036 $53,277 
Less: valuation allowance(44,178)(33,454)
Total deferred tax assets (after valuation allowance)$17,858 $19,823 
Deferred tax liabilities:
Property and equipment(1,210)(1,442)
Intangible assets(12,428)(22,193)
Goodwill(2,317)(3,569)
Change in accounting method(153)(719)
Right-of-use operating lease asset(2,208)(2,357)
Research and development costs(3,230)(3,338)
Total deferred tax liabilities$(21,546)$(33,618)
Net deferred tax liabilities$(3,688)$(13,795)
Schedule of Gross Unrecognized Tax Benefits
The following table sets forth a reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties, included in accrued liabilities and other noncurrent liabilities in the Company’s consolidated balance sheets:

(in thousands)December 31, 2024December 31, 2023
Unrecognized tax benefits as of the beginning of the year$8,766 $8,574 
Additions for tax positions of current year693 192 
Unrecognized tax benefits as of the end of the year$9,459 $8,766