v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense
The Company recognized income tax expense of $20.7 million, $18.4 million and $20.1 million during the years ended December 31, 2025, 2024 and 2023, respectively, which consists of the following (in thousands):
202520242023
Current provision
Federal
$4,682 $14,700 $5,390 
State
2,635 6,126 7,385 
Total current provision
7,317 20,826 12,775 
Deferred provision
Federal
11,262 (3,244)10,278 
State
2,080 856 (2,932)
Total deferred provision
13,342 (2,388)7,346 
Total Provision
Federal
$15,944 $11,456 $15,668 
State
$4,715 $6,982 $4,453 
Total income tax expense
$20,659 $18,438 $20,121 
Schedule of Reconciliation of Expected Income Taxes
A reconciliation of the “expected” income taxes computed by applying the federal statutory income tax rate to the total expense is presented in the tables below in dollars (in thousands) and percentages:
202520242023
Computed “expected” tax expense
$15,106 $11,283 $13,802 
Federal
Tax credits
(327)(153)(281)
Nontaxable and nondeductible items:
Change in fair value of contingent earnout shares120 268 1,793 
Stock-based compensation(87)212 720 
Other nontaxable and nondeductible items
1,241 1,025 821 
Other
446 108 364 
State income taxes, net of federal benefit
4,160 5,695 2,902 
Total income tax expense
$20,659 $18,438 $20,121 
202520242023
Computed “expected” tax expense
21.00%21.00%21.00%
Federal
Tax credits
(0.45)%(0.28)%(0.43)%
Nontaxable and nondeductible items:
Change in fair value of contingent earnout shares0.17%0.50%2.73%
Stock-based compensation(0.12)%0.39%1.10%
Other nontaxable and nondeductible items
1.73%1.91%1.25%
Other
0.61%0.20%0.54%
State income taxes, net of federal benefit
5.78%10.60%4.42%
Total income tax expense
28.72%34.32%30.61%
Schedule of Supplemental Cash Flow Information
The Company’s cash payments for income taxes, net of refunds, by tax jurisdiction were as follows (in thousands):
202520242023
Cash payments for income taxes, net of refunds
Federal12,001 $14,805 $4,015 
Illinois2,930 6,842 6,864 
Other States610 659 862 
Total$15,541 $22,306 $11,741 
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities were as follows as of December 31 (in thousands):
20252024
Deferred tax assets:
Net operating loss carryforwards$7,926 $7,964 
Interest expense limitation carryforward5,415 10,765 
  Stock-based compensation5,460 4,452 
Lease liabilities2,220 2,397 
Other2,150 5,625 
23,171 31,203 
Deferred tax liabilities:
Property and equipment64,081 58,471 
Location contracts and other intangibles14,589 15,282 
Lease assets2,103 2,294 
Interest rate caplets96 1,585 
Other1,532 943 
82,401 78,575 
  Total deferred tax liability, net$59,230 $47,372 
Schedule of Carryforwards of Net Operating Losses
The following table summarizes carryforwards of net operating losses as of December 31 (in thousands):
20252024
AmountExpirationAmountExpiration
State net operating losses105,610 2043106,110 2042