Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of our loss before income taxes for the years ended December 31, 2024 and 2023, are as follows:

	For the Years Ended December 31,
$s in thousands	2024		2023
Domestic	$	(15,566)	$	(77,659)
Foreign	(763)		(1)
Loss before income taxes	$	(16,329)	$	(77,660)

Schedule of Components of Income Tax Expense (Benefit)

The components of the current tax provision and deferred tax benefit for the years ended December 31, 2024 and 2023, are as follows:

	For the Years Ended December 31,
$s in thousands	2024		2023
Current tax provision:
U.S. Federal	$	—	$	—
State and local	(47)		40
Foreign	427		—
Total current tax provision	$	380	$	40
Deferred tax benefit:
U.S. Federal	$	(1,269)	$	(273)
State and local	127		(69)
Foreign	—		—
Total deferred tax benefit	$	(1,142)	$	(342)
Income tax benefit	$	(762)	$	(302)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the statutory federal income tax rate and the effective income tax rate for the years ended December 31, 2024 and 2023, are as follows:

	For the Years Ended December 31,
	2024		2023
Income tax - at U.S. statutory tax rate	21.0	%	21.0	%
Warrant mark-to-market adjustment	5.8	%	—	%
State and local taxes - net of federal	4.9	%	3.3	%
Return to provision	(1.6)	%	—	%
Stock-based compensation	(34.5)	%	(7.5)	%
Valuation allowance	10.9	%	(15.5)	%
Other	(1.8)	%	(0.9)	%
Effective rate of tax	4.7	%	0.4	%

Schedule of Deferred Tax Assets and Liabilities

The components of the total net deferred tax assets and liabilities as of December 31, 2024 and 2023, consisted of the following:

	As of December 31,
$s in thousands	2024		2023
Deferred tax assets:
Net operating losses	$	24,117	$	21,400
Partnership	11,638		17,750
Interest expense limitation - 163(j)	11,568		5,690
Stock-based compensation	3,492		6,282
Other	123		743
Total deferred tax assets	50,938		51,865
Valuation allowance for deferred tax assets	(49,748)		(51,523)
Net deferred tax assets	1,190		342
Deferred tax liabilities:
Intangibles - Ignis	(1,190)		(342)
Total deferred tax liabilities	(1,190)		(342)
Net deferred tax assets (liabilities)	$	—	$	—