Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the year ended December 31,
	2023			2022			2021
Current:
Federal	$	23,698,658		$	13,154,619		$	19,211,782
State and local		792,477			897,285			513,753
Foreign		14,445			3,800			13,994
Total current provision		24,505,580			14,055,704			19,739,529
Deferred:
Federal		(4,711,556	)		(3,818,283	)		89,947
State and local		(86,177	)		(9,495	)		31,499
Foreign		—			—			—
Total deferred (benefit) provision		(4,797,733	)		(3,827,778	)		121,446
Total provision	$	19,707,847		$	10,227,926		$	19,860,975

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	As of December 31,
	2023			2022
Deferred income tax assets:
State net operating losses	$	1,194,814		$	1,247,826
Inventory		777,146			336,333
Reserves and accruals		666,772			569,290
Amortization of intangible assets		7,852			24,532
Share-based compensation		506,451			510,058
Fixed Assets		34,546			—
Deferred revenue		2,256,099			66,011
Capitalized R&D		6,198,455			4,194,106
Lease liability		319,074			443,902
Other		514,150			380,162
Deferred income tax assets		12,475,359			7,772,220
Less: valuation allowance		(943,903	)		(985,783	)
Deferred income tax assets, net of valuation allowance	$	11,531,456		$	6,786,437
Deferred income tax liabilities:
Amortization of goodwill		(192,130	)		(192,083	)
Property, plant and equipment		—			(59,727	)
Other		(291,208	)		(284,242	)
Deferred income tax asset, net	$	11,048,118		$	6,250,385

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	As of December 31,
	2023		2022		2021
Statutory federal income tax rate		21.0%		21.0%		21.0%
State and local taxes		0.1%		1.6%		0.5%
Change in fair value of common stock warrant		—		(0.2)%		—
Section 162(m) limitation		0.4%		0.7%		0.5%
Other		1.0%		0.1%		0.2%
Effective tax rate		22.5%		23.2%		22.2%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	For the year ended December 31,
	2023			2022			2021
Balance at beginning of year	$	5,103,548		$	5,602,587		$	5,591,587
Tax positions related to the current and prior years:
Additions		—			—			11,000
Reductions		(17,096	)		(68,792	)		—
Settlements		—			—			—
Lapses in applicable statutes of limitation		(4,842	)		(430,247	)		—
Balance at the end of the year	$	5,081,610		$	5,103,548		$	5,602,587