Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Income Tax Disclosure [Abstract] |
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| Summary of Income Taxes in the U.S. Federal Jurisdiction and Various State and Local Jurisdictions |
The Company is subject to income taxes in the U.S. federal jurisdiction and various state and local jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply.
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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(Loss) income before income taxes: |
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Domestic |
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$ |
(2,444 |
) |
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$ |
12,177 |
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$ |
18,366 |
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Foreign |
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(43 |
) |
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— |
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— |
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$ |
(2,487 |
) |
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$ |
12,177 |
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$ |
18,366 |
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| Schedule of Components of Income Tax Provision |
The following table details the components of the Company’s income tax provision for the years ended December 31, 2025, 2024 and 2023:
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Current expense: |
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Federal |
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$ |
— |
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$ |
1,041 |
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$ |
1,006 |
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State |
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44 |
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597 |
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536 |
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$ |
44 |
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$ |
1,638 |
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$ |
1,542 |
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Deferred (benefit) expense: |
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Federal |
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$ |
(4,348 |
) |
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$ |
635 |
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$ |
1,869 |
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State |
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69 |
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170 |
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7 |
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$ |
(4,279 |
) |
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$ |
805 |
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$ |
1,876 |
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Income tax (benefit) expense |
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$ |
(4,235 |
) |
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$ |
2,443 |
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$ |
3,418 |
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The following table details the components of the Company’s income tax provision for the years ended December 31, 2025, 2024 and 2023:
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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U.S. federal tax at statutory rate |
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$ |
(522 |
) |
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21 |
% |
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$ |
2,557 |
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21 |
% |
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$ |
3,857 |
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21 |
% |
State and local income taxes, net of federal income tax effect |
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104 |
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-4 |
% |
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|
642 |
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5 |
% |
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430 |
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2 |
% |
Tax credits: |
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Energy-related tax credits |
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(4,822 |
) |
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194 |
% |
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(2,381 |
) |
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-20 |
% |
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(2,324 |
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-13 |
% |
Changes in valuation allowances |
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— |
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— |
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— |
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— |
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— |
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— |
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Nontaxable or nondeductible items: |
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Share-based payment awards |
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1,322 |
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-53 |
% |
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1,298 |
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11 |
% |
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(175 |
) |
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-1 |
% |
Limitation on executive compensation |
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(343 |
) |
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14 |
% |
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184 |
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2 |
% |
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1,530 |
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8 |
% |
Other |
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18 |
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-1 |
% |
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143 |
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|
1 |
% |
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114 |
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1 |
% |
Changes in unrecognized tax benefits |
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— |
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— |
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— |
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— |
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— |
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— |
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Other adjustments |
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8 |
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— |
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— |
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— |
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(14 |
) |
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0 |
% |
Total income tax (benefit) expense and effective rate |
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$ |
(4,235 |
) |
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170 |
% |
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$ |
2,443 |
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20 |
% |
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$ |
3,418 |
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19 |
% |
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| Schedule Of Deferred Tax Assets And Liabilities |
The following table illustrates the deferred tax assets and liabilities as of December 31, 2025 and December 31, 2024:
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December 31, 2025 |
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December 31, 2024 |
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Deferred tax assets: |
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Net operating loss carry forwards |
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$ |
4,147 |
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$ |
4,100 |
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Federal tax credits |
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17,339 |
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12,274 |
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Book reserves |
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2,107 |
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1,824 |
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Intangible asset amortization |
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4,693 |
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5,297 |
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Stock compensation |
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1,360 |
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1,657 |
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Impairment |
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990 |
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387 |
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Lease liabilities |
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2,075 |
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2,815 |
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VIE Loss on investment |
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|
565 |
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|
565 |
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Total deferred tax assets |
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33,276 |
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28,919 |
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Less: valuation analysis |
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(4,542 |
) |
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(4,542 |
) |
Net deferred tax assets |
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$ |
28,734 |
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$ |
24,377 |
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Deferred tax liabilities: |
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Property depreciation |
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$ |
(21,130 |
) |
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$ |
(20,319 |
) |
Right of use assets |
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(2,054 |
) |
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(2,786 |
) |
Total deferred tax liabilities |
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(23,184 |
) |
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(23,105 |
) |
Net deferred tax assets |
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5,550 |
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1,272 |
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| Schedule of Net Income Tax Paid |
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Federal: |
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$ |
250 |
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$ |
1,560 |
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$ |
1,111 |
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State: |
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California |
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114 |
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78 |
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20 |
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Idaho |
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68 |
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— |
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84 |
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Pennsylvania |
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107 |
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118 |
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|
372 |
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Texas |
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|
240 |
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|
235 |
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|
328 |
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Other |
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4 |
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2 |
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— |
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Net cash paid for income taxes |
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$ |
783 |
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$ |
1,993 |
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$ |
1,915 |
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