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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of components of the income tax expense (benefit)
The components of the income tax expense (benefit) are as follows (in thousands):
 Year Ended December 31,
 202520242023
Current income tax (benefit) expense:  
Federal$104 $587 $1,155 
State(637)940 1,022 
Current income tax (benefit) expense(533)1,527 2,177 
Deferred income tax (benefit) expense:
Federal(100,510)947 (3,383)
State(29,241)1,846 (1,309)
Deferred income tax (benefit) expense(129,751)2,793 (4,692)
Income tax (benefit) expense$(130,284)$4,320 $(2,515)
Schedule of reconciliation of total income tax expense (benefit) to amounts computed by applying statutory federal income tax rate to income (loss) from continuing operations before income taxes
Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2—Significant Accounting Policies, the reconciliation of the income tax expense (benefit) to the amounts computed by applying the statutory federal income tax rate to income (loss) before income taxes is shown as follows (in thousands, except for percentages):
 Year Ended December 31,
 2025
Federal statutory income tax$4,415 21.0 %
State and local income taxes, net of federal effect(23,711)(112.8)%
Foreign tax effects57 0.3 %
Effect of cross-border tax laws:
Global intangible low-taxed income inclusion420 2.0 %
Tax credits:
Research and experimentation tax credit(1,547)(7.4)%
Increase (decrease) in valuation allowance(114,973)(546.9)%
Nontaxable or nondeductible items:
Nondeductible executive compensation3,562 16.9 %
Excess tax deductions on non-cash compensation799 3.8 %
Other nontaxable or nondeductible359 1.7 %
Changes in unrecognized tax benefits232 1.1 %
Other, net103 0.5 %
Income tax expense (benefit)$(130,284)(619.7)%
The reconciliation of the income tax expense (benefit) to the amounts computed by applying the statutory federal income tax rate to income (loss) before income taxes for the years ended December 31, 2024 and 2023 in accordance with the guidance prior to the adoption of ASU 2023-09 was as follows (in thousands):
 Year Ended December 31,
 20242023
Federal statutory income tax$(7,851)$(26,233)
State income taxes, net(502)(2,883)
Excess tax deductions on non-cash compensation3,633 6,373 
Research and experimentation tax credit(1,500)(1,512)
Nondeductible executive compensation3,245 2,174 
Increase (decrease) in valuation allowance5,045 17,087 
Remeasurement of state deferred tax776 73 
Expiration of state net operating loss carryforwards535 595 
Global intangible low-taxed income inclusion420 420 
Other, net519 1,391 
Income tax expense (benefit)$4,320 $(2,515)
Schedule of components of the deferred tax assets and deferred tax liabilities
The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands):
 December 31,
 20252024
Deferred tax assets:  
Provision for accrued expenses$4,303 $1,541 
Leasing11,991 19,053 
Net operating loss carryforwards (a)
45,032 38,746 
Capitalized research and experimentation16,577 35,861 
Non-cash compensation expense(b)
22,931 23,953 
Property and equipment1,985 833 
Intangible assets— 1,882 
Interest24,641 22,422 
Equity investment16,538 19,659 
Tax credits16,995 15,522 
Other61 71 
Total gross deferred tax assets161,054 179,543 
Less: valuation allowance (c)
(18,008)(167,549)
Total deferred tax assets, net of the valuation allowance143,046 11,994 
Deferred tax liabilities:
Leasing(10,080)(16,379)
Intangible and other assets(7,617)— 
Prepaid expenses(482)(484)
Other— (15)
Total gross deferred tax liabilities(18,179)(16,878)
Net deferred taxes$124,867 $(4,884)
(a)At December 31, 2025, the Company had pre-tax consolidated federal net operating losses (“NOLs”) of $148.8 million. The federal NOLs no longer expire under the Tax Cuts and Jobs Act. The Company's NOLs will be available to offset taxable income, subject to the Internal Revenue Code Section 382 annual limitation. In addition, the Company has state NOLs of approximately $423.1 million at December 31, 2025, a portion of which will expire at various times between 2026 and 2055.
(b)Certain out-of-the-money stock options are expected to expire unexercised, and as a result may be required to reverse the related deferred tax asset for share-based compensation, which could increase income tax expense and our effective tax rate in a future period.
(c)The valuation allowance is related to items for which it is “more likely than not” that the tax benefit will not be realized.
Deferred income taxes are presented in the accompanying consolidated balance sheets as follows (in thousands):
 December 31,
 20252024
Deferred income tax assets$124,867 $— 
Deferred income tax liabilities— (4,884)
Net deferred taxes$124,867 $(4,884)
Schedule of the deferred tax valuation allowance reconciliation
A reconciliation of the beginning and ending balances of the deferred tax valuation allowance is as follows (in thousands):
 Year Ended December 31,
 202520242023
Balance, beginning of the period$167,549 $162,504 $145,401 
Charges to earnings(149,541)5,045 17,103 
Balance, end of the period$18,008 $167,549 $162,504 
Schedule of reconciliation of beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties
A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):
 Year Ended December 31,
 20252024
Balance, beginning of the period$3,721 $3,424 
Additions based on tax positions of the current period225 225 
Additions (subtractions) based on tax positions of the prior period7 72 
Balance, end of the period$3,953 $3,721 
Schedule of Income Taxes Paid
Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 2—Significant Accounting Policies, cash paid for income taxes, net of refunds, during the year ended December 31, 2025 was as follows (in thousands):
Federal$305 
Illinois780 
Other U.S. state and local314 
Foreign - India135 
Total income taxes paid, net of refunds received$1,534