v3.25.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes  
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

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

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)

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

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

  ​