INCOME TAXES

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 8 – INCOME TAXES

The Company's income tax (benefit)/expense for the three months ended March 31, 2025 and 2024 was $(0.4) million and $3.5 million, and the effective tax rate was 11.4% and 36.4%. The main driver of the difference between the effective and statutory rate is non-deductible executive compensation under Section 162(m) of the Internal Revenue Code. There are no uncertain tax positions as of March 31, 2025 or December 31, 2024.