INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 10. INCOME TAXES Deferred income taxes are provided to reflect the future tax consequences or benefits of differences between the tax basis of assets and liabilities and their reported amounts in the financial statements using enacted tax rates. In recording deferred income tax assets, the Company considers whether it is more likely than not that its deferred income tax assets will be realized in the future. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those deferred income tax assets would be deductible. The Company believes that after considering all the available objective and subjective evidence, historical and prospective, with greater weight given to historical and objective evidence, management has determined that it is not more likely than not that all of its deferred tax assets will be realized. As a result, the Company concluded that a valuation allowance is required against its deferred tax assets, including U.S. federal and state net operating loss carryforwards, primarily due to recent losses. The Company will continue to assess the valuation allowances against deferred tax assets considering all available information obtained in future periods. The significant variance in the effective tax rate from the statutory tax rate for the three and six months ended June 30, 2026 was primarily due to the impact of permanent items, state taxes and change in the valuation allowance. |