INCOME TAXES |
9 Months Ended |
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Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | NOTE 14 – INCOME TAXES
The Company incurred a pre-tax loss for the three and nine months ended September 30, 2026. The Company recorded no provision for income taxes. Additionally, the Company expects to incur a pre-tax loss for the year ended December 31, 2026. The Company maintains a full valuation allowance against its deferred tax assets, as it is not more-likely-than-not that such assets will be realized. Accordingly, no deferred income tax benefit was recognized on the pre-tax loss, and, because the Company did not generate taxable income, no current income tax expense was recorded. As a result, the Company recorded no provision for income taxes for the three and nine months ended September 30, 2026. Due to the Company’s losses and full valuation allowance, a discrete calculation was prepared for the nine months ended September 30, 2025. The current income tax expense for the nine months ended September 30, 2025 was approximately $32 thousand.
The Company evaluates the realizability of its deferred tax assets on a quarterly basis. Management assessed the need for a valuation allowance as of September 30, 2026 and concluded that a full valuation allowance continues to be required based on cumulative losses and the forecasted loss for the year ended December 31, 2026. There were no discrete income tax items recorded during the three and nine months ended September 30, 2026.
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