v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Components of Loss Before Income Taxes

The Company’s loss before income taxes was generated from the following sources:

 

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

Domestic

 

$

(20,463

)

 

$

(37,456

)

Foreign

 

 

(1,849

)

 

 

(5,324

)

Loss before income taxes

 

$

(22,312

)

 

$

(42,780

)

 

Components of Income Tax Expense (Benefit)

The following table sets forth the components of income tax expense (benefit):

 

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

Current income taxes:

 

 

 

 

 

 

Federal

 

$

(1,178

)

 

$

1,238

 

State

 

 

(75

)

 

 

(14

)

Foreign

 

 

(632

)

 

 

23

 

Total current income taxes

 

 

(1,885

)

 

 

1,247

 

Deferred income taxes:

 

 

 

 

 

 

Federal

 

 

 

 

 

 

State

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

Total deferred income taxes

 

 

 

 

 

 

Income tax expense (benefit)

 

$

(1,885

)

 

$

1,247

 

Reconciliation Between the Federal Statutory Income Tax Rate and Effective Tax Rate

The following table sets forth the reconciliation between the federal statutory income tax rate and the effective tax rate:

 

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

Tax computed at the federal statutory rate

 

 

21.00

%

 

 

21.00

%

State and local income tax, net of federal income tax benefit

 

 

(0.36

)%

 

 

(1.17

)%

Nontaxable or nondeductible items under 5% each

 

 

(0.28

)%

 

 

(2.10

)%

Foreign tax effects

 

 

1.09

%

 

 

(2.62

)%

Change in valuation allowance

 

 

19.45

%

 

 

(17.47

)%

Other: prior year true-up

 

 

(32.44

)%

 

 

(0.50

)%

Effective tax rate

 

 

8.46

%

 

 

(2.86

)%

Significant Deferred Tax Assets and Liabilities Significant components of the Company’s deferred tax assets and liabilities at December 31, 2025 and 2024 are as follows:

 

 

 

As of December 31,

 

 

2025

 

 

2024

 

Deferred tax assets (liabilities):

 

 

 

 

 

 

Depreciation and amortization

 

$

162

 

 

$

360

 

Stock-based compensation

 

 

1,068

 

 

 

768

 

Unrealized gain (loss)

 

 

(14

)

 

 

(18

)

Accrued expenses

 

 

252

 

 

 

692

 

Charitable contributions

 

 

23

 

 

 

24

 

Capitalized R&D expenditures

 

 

3,186

 

 

 

3,504

 

Right of use assets / lease liability

 

 

 

 

 

25

 

Interest expense

 

 

15,413

 

 

 

14,585

 

State taxes

 

 

 

 

 

1

 

Federal and state net operating loss carryforward

 

 

88,306

 

 

 

92,043

 

Total net deferred tax assets

 

 

108,396

 

 

 

111,984

 

Less valuation allowance

 

 

(108,396

)

 

 

(111,984

)

Net deferred tax assets

 

$

 

 

$