Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2025 |
| Income Taxes |
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| Schedule of components of the provision for income taxes |
| | | | | | | | | | | | 2025 | | 2024 | | | 2023 | Domestic | | | | | | | | | | Current | | $ | 834 | | $ | 25,291 | | $ | 13,147 | Deferred | | | (6,960) | | | (3,861) | | | 37,903 | Total income tax expense (benefit) | | $ | (6,126) | | $ | 21,430 | | $ | 51,050 |
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| Schedule of Income tax results differed from the amount computed by applying the U.S. statutory income tax rate to income before income taxes |
| | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | | | | Amount | | | % of IBIT | | | Amount | | | Amount | | Statutory income tax expense | | $ | (9,073) | | | 21.0% | | $ | 19,496 | | $ | 47,198 | | State tax expense(1) | | | 631 | | | (1.5)% | | | 1,324 | | | 3,956 | | Effect of tax rates in foreign jurisdictions | | | 251 | | | (0.6)% | | | (29) | | | (46) | | Change in fair value of warrant liabilities | | | - | | | 0.0% | | | (142) | | | (1,903) | | Valuation allowances | | | - | | | 0.0% | | | 307 | | | 510 | | Officer Compensation | | | 1,921 | | | (4.4)% | | | 708 | | | 306 | | Other | | | 144 | | | (0.3)% | | | (234) | | | 1,029 | | Reported income tax expense (benefit) | | $ | (6,126) | | | 14.2% | | $ | 21,430 | | $ | 51,050 | |
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| Schedule of components of the Companies deferred tax assets and liabilities |
| | | | | | | | | December 31, | | December 31, | | | 2025 | | 2024 | Deferred tax liabilities (jurisdictional netting applied) | | $ | (42,312) | | $ | (49,271) | Net deferred income tax liability | | $ | (42,312) | | $ | (49,271) |
| | | | | | | | | December 31, | | December 31, | | | 2025 | | 2024 | Deferred tax assets (liabilities) | | | | | | | Stock-based compensation | | $ | 2,054 | | $ | 2,240 | Deferred revenue | | | 115 | | | 115 | Intangible assets | | | 8,054 | | | 8,530 | Tax loss carryforwards | | | 7,006 | | | 3,525 | Operating lease obligations | | | 1,495 | | | 5,587 | Other - net | | | 106 | | | 225 | Deferred tax assets gross | | | 18,830 | | | 20,222 | Valuation allowance | | | (5,097) | | | (5,239) | Net deferred income tax asset | | | 13,733 | | | 14,983 | | | | | | | | Deferred tax liabilities | | | | | | | Rental equipment and other plant, property and equipment | | | (53,937) | | | (57,910) | Operating lease right-of-use assets | | | (1,411) | | | (5,357) | Prepaid expenses | | | (697) | | | (987) | Deferred tax liability | | | (56,045) | | | (64,254) | Net deferred income tax liability | | $ | (42,312) | | $ | (49,271) |
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| Schedule of Income taxes paid, net of refunds received |
| | | | | | For the Year Ended | | | December 31, | | | 2025 | Federal | | $ | 925 | State and local | | | | Texas | | | 1,860 | Foreign | | | 33 | Total income taxes paid, net of refunds received | | $ | 2,818 |
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| Schedule of valuation allowance |
| | | | | | | | | | | | | | | | December | | | | | | | | | Valuation | | | | 31, 2025 | | Expiration | | Allowance | | United States | | $ | 16,249 | | Not applicable | | 0 | % | Canada | | | 10,786 | | 2033-2045 | | 100 | % | Mexico | | | 377 | | 2031-2035 | | 100 | % | Total | | $ | 27,412 | | | | | | | | | | |
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