Note 15 - Income Taxes

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Income Tax Disclosure [Text Block]

15. Income Taxes

The provision for income taxes reflects current taxes and deferred taxes. The effective tax rate for each of the three months ended March 31, 2025 and 2024 was 0%.

The valuation allowance against net deferred tax assets as of March 31, 2025, was $107,722, an increase of $3,361 from $104,361 as of December 31, 2024. The Company continues to provide for a valuation allowance to offset its net deferred tax assets until such time it is more likely than not the tax assets or portions thereof will be realized.

An excess tax deficiency of $131 and an excess tax benefit of $1,730 were recognized in the provision for income taxes for the three months ended March 31, 2025 and 2024, respectively, which were offset by $131 and $1,730 of valuation allowance, respectively.