PROVISION FOR INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of U.S. and Foreign Components of Loss Before Income Taxes

U.S. and foreign components of loss before income taxes were (in thousands):

	Year Ended December 31,
	2024		2023
U.S. operations	$	31,802	$	(56,198)
Foreign operations	(120,648)		(90,270)
Total loss before income taxes	$	(88,846)	$	(146,468)

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision (benefit) for income taxes are as follows (in thousands): 

	Year Ended December 31,
	2024		2023
Current benefit:
State	11		47
Foreign	242		226
Total current benefit	$	253	$	273
Deferred benefit:
Federal	$	(114)	$	(1,149)
State	(315)		232
Foreign	(166)		127
Total deferred benefit	$	(595)	$	(790)
Total	$	(342)	$	(517)

Schedule of Effective Income Tax Rate Reconciliation

The provision (benefit) for income taxes differs from the amount that would result by applying the applicable federal income tax rate to income before income taxes, as follows: 

	Year Ended December 31,
	2024		2023
Provision computed at Federal statutory rate	21.0	%	21.0	%
Change in valuation allowance	(39.2)	%	(19.0)	%
Foreign income tax rate and benefit	16.6	%	7.7	%
Effect of permanent differences	(0.2)	%	(0.1)	%
Non deductible executive compensation	(1.5)	%	(2.3)	%
Non deductible expenses - mark to market liabilities	8.7	%	(4.8)	%
Stock based compensation	(4.3)	%	0.3	%
State tax, net of federal	0.3	%	(2.7)	%
Other	(1.0)	%	0.2	%
Total	0.4	%	0.3	%

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2024 and 2023, deferred tax assets and liabilities consisted of the following (in thousands):

	December 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	86,793	$	59,953
Benefit of tax credit carry-forwards	208		207
Start-up costs	1,132		1,262
Capitalized research costs	17,473		11,629
Stock compensation	8,011		9,005
Lease Liabilities	1,383		1,602
Other	2,251		2,315
Valuation allowance	(100,628)		(66,663)
	$	16,623	$	19,310
Deferred tax liabilities:
Right of Use Asset	(1,300)		(1,528)
Depreciation	(53)		(178)
Intangibles	(15,711)		(18,644)
	$	(17,064)	$	(20,350)
Net deferred tax balance	$	(441)	$	(1,040)