INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME TAXES

Schedule of current and deferred component of income tax expenses (benefit)

	For the years ended December 31,
	2025		2024		2023
Current income tax expense	$	—	$	—	$	(1)
Deferred income tax benefit		2,733		931		229
Total income tax benefit	$	2,733	$	931	$	228

Schedule of reconciliations of statutory income tax rate and the Group's effective income tax rate

	For the years ended December 31,
	2025			2024			2023
Net loss before provision for income taxes	$	56,641		$	41,911		$	53,782
PRC statutory tax rate		25	%		25	%		25	%
Income tax at statutory tax rate		14,160			10,477			13,446
Fair value change on warrants		5			53			(52)
Non-deductible loss and SBC expenses not deductible for tax purposes		(6,397)			(2,818)			(3,075)
Effect of income tax rate differences in jurisdictions other than the PRC		(4,574)			(6,378)			(1,636)
NOL not applicable for carryforward		—			4			—
Change in valuation allowance		(461)			(407)			(8,455)
Income tax benefit	$	2,733		$	931		$	228
Effective tax rates		4.83	%		2.22	%		0.42	%

Schedule of principal components of the deferred tax assets and liabilities

	As of December 31,
	2025		2024
Deferred tax assets:
Write-down of prepaid expenses and other current assets	$	8,027	$	8,028
Net operating loss carry forwards		1,767		1,251
Sub-total		9,794		9,279
Deferred tax liabilities:
Intangible assets acquired in business combination		(2,125)		(2,333)
Less: valuation allowance		(9,794)		(9,279)
Deferred tax liabilities, net	$	(2,125)	$	(2,333)

Summary of movements of the valuation allowance

	For the years ended December 31,
	2025		2024		2023
Balance at the beginning of the year	$	9,279	$	9,180	$	1,061
Current year addition		466		407		8,455
Decrease in disposal of subsidiaries		(531)		(239)		—
Exchange rate effect		580		(69)		(336)
Balance at the end of the year	$	9,794	$	9,279	$	9,180