v3.25.2
INCOME TAXES (Tables)
 12 Months Ended
Mar. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Tax Domestic and Foreign
Year Ended
December 31,		Three Months Ended
March 31,		Year Ended March 31,
2022202320242025
U.S. operations$(10,303)$(16,494)$(7,990)$(46,935)
Foreign operations4,421 11,443 (162)483 
$(5,882)$(5,051)$(8,152)$(46,452)
Schedule of Components of Income Tax Expense (Benefit)
The provision for income taxes consists of the following for the periods presented (in thousands):

Year Ended
December 31,		Three Months Ended
March 31,		Year Ended March 31,
2022202320242025
Current:
Federal$— $— $— $— 
State93 68 25 110 
Foreign69 519 220 6,174 
Total current provision$162 $587 $245 $6,284 
Deferred:
Federal$— $— $— $— 
State— — — (85)
Foreign708 2 107 (1,682)
Total deferred provision$708 $2 $107 $(1,767)
Total provision for income taxes$870 $589 $352 $4,517 
Schedule of Effective Income Tax Rate Reconciliation
The difference between income taxes at the statutory federal income tax rate and income taxes reported in the Consolidated Statement of Operations for the years ended December 31, 2022 and 2023, the three months ended March 31, 2024, and the year ended March 31, 2025 is attributable to the following (in thousands):

Year Ended
December 31,		Three Months Ended
March 31,		Year Ended March 31,
2022202320242025
Income tax benefit at the federal statutory rate$(1,236)$(1,061)$(1,712)$(9,755)
State and local income taxes, net of federal taxes(313)(298)(145)(1,094)
Increase (decrease) in valuation allowance(1,105)1,488 1,570 7,173 
Remeasurement of deferred tax adjustments35948542
Permanent differences and other810 678 222 6,343 
Non-deductible (non-taxable) foreign exchange movements
— — — (509)
Over (Under) provision prior years
— — — 378 
Foreign rate differential(151)(1,924)396 819 
GILTI inclusion2,425 1,586 — 120 
Foreign tax paid
— — — 381 
Other81 57 13 119 
Acquisition fees— 59 — — 
$870 $589 $352 $4,517 
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31, 2024 and 2025 are presented below (in thousands):

March 31,
2024		March 31,
2025
Deferred tax assets:
Net operating loss carryforwards$28,135 $48,572 
Capital loss carryforwards10,377 9,388 
Deferred revenue2,265 4,184 
Stock-based compensation230306 
Federal research and development tax credits1,058 1,058 
Capitalized research1,524 1,832 
Inventories383 1,062 
Bad debt reserve639 1,588 
Deferred lease liability388 167 
Acquisition costs1,455 1,004 
Interest limitation
— 4,831 
Other deductible temporary differences2,859 8,818 
Total gross deferred tax assets49,313 82,810 
Set-off of deferred tax balances— (25,569)
Net deferred tax assets before valuation allowance49,313 57,241 
Less: valuation allowance(46,532)(53,307)
Net deferred tax assets$2,781 $3,934 
Deferred tax liabilities:
Intangible amortization(3,958)(65,025)
Right-of-use assets
(348)(650)
Deferred foreign currency gains
— (8,031)
Deferred commissions
— (1,623)
Other deductible temporary differences(159)(7,952)
Total deferred tax liabilities(4,465)(83,281)
Set-off of deferred tax balances— 25,569 
Net deferred tax liabilities(4,465)(57,712)
Net deferred tax liabilities$(1,684)$(53,778)
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax positions for the periods ended March 31, 2024 and 2025 is as follows (in thousands):

Balance at December 31, 2023
$294 
Additions based on tax provisions taken related to current period
27 
Reductions related to expiration of statute of limitations
— 
Balance at March 31, 2024
$321 
Additions based on tax provisions taken related to current period116 
Reductions related to expiration of statute of limitations(119)
Balance at March 31, 2025
$318