Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Tax, Domestic and Foreign
The following table summarizes the Company’s income before income taxes (in thousands):
Years Ended December 31,
2025 2024
U.S income $ 9,322  $ 3,938 
Non-U.S. income 1,301  1,121 
Income before income taxes $ 10,623  $ 5,059 
Schedule of Components of Income Tax Expense (Benefit)
The following table summarizes the Company’s components of the consolidated provision for income taxes (in thousands):
Years Ended December 31,
2025 2024
U.S Federal income tax expense
Current $ (5) $ — 
Deferred (2,496) (1,673)
Total U.S. Federal income tax expense
 (2,501) (1,673)
State and local income tax expense
Current (750) (488)
Deferred (232) (245)
Total state and local income tax expense (982) (733)
Foreign income tax expense
Current (513) (308)
Total income tax expense
 $ (3,996) $ (2,714)
Schedule of Effective Income Tax Rate Reconciliation
The following table summarizes a reconciliation of the Company’s income tax (expense) benefit from the effective income tax rate to the U.S. federal statutory rate (in thousands):
Years Ended December 31,
2025 2024
Amount % of Pretax Income Amount % of Pretax Income
Income tax expense at the statutory rate $ (2,231) 21.0 % $ (1,062) 21.0 %
State and local income tax expense, net of federal income tax effect (776) 7.3 % (579) 11.4 %
Nontaxable or nondeductible items
     Meals and Entertainment (127) 1.2 % (124) 2.5 %
     Stock Options — — % (471) 9.3 %
     Non-deductible Officer's Compensation (491) 4.6 % (153) 3.0 %
     Income for Canada Disregarded Entity (165) 1.6 % (171) 3.4 %
     Other 34 (0.3 %) (2) — %
Tax credits — — % (78) 1.6 %
Foreign Tax Effects (240) 2.3 % (72) 1.4 %
Reconciling Adjustment — — % — — %
Income tax (expense) benefit at effective income tax rate $ (3,996) 37.6 % $ (2,714) 53.6 %
Schedule of Cash Flow, Supplemental Disclosures
The following table illustrates incomes taxes paid by jurisdiction (in thousands):
Years Ended December 31,
2025 2024
U.S. Federal
 $ —  $ — 
U.S State and local
        Florida
 28  81 
       Georgia
 (a) 51 
       Illinois
 (a) 51 
        Michigan
 (a) 65 
       New York
 47  (a)
       Pennsylvania
 (a) 61 
       Texas
 94  50 
        Other
 180  255 
349  614 
Foreign
        Canada
 $ 194  $ 139 
Total
 $ 543  $ 753 
(a) The amount of income taxes paid during the year does not meet the 5% disaggregation threshold and is included in other.
Schedule of Deferred Tax Assets and Liabilities
The following table summarizes the temporary differences and carryforwards that give rise to deferred tax assets and liabilities (in thousands):
December 31, 2025 December 31, 2024
Deferred Federal, state and local tax assets –
Bad debt reserves $ 5,673  $ 4,448 
Stock-based compensation 2,343  1,806 
Net operating loss (a)
 1,385  3,434 
Operating lease liabilities 1,248  1,548 
Accrued compensation 1,067  801 
Inventories 763  713 
Research & development credits
 517  555 
Other credits 23  23 
Other 120  1,128 
Total deferred Federal, state and local tax assets
 13,139  14,456 
Deferred Federal, state and local tax liabilities –
Depreciation and asset basis differences (6,502) (4,792)
Goodwill and intangible assets (731) (737)
Right-of-use assets (1,083) (1,377)
Derivative financial instruments (183) (362)
Total deferred Federal, state and local tax liabilities
 (8,499) (7,268)
Net deferred tax assets $ 4,640  $ 7,188 
(a) At December 31, 2025 and 2024, this includes state and local net operating losses of $0.2 million and $0.4 million, respectively.