Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes was as follows:

	Successor		Predecessor
	October 2, 2024 through December 31, 2024		January 1, 2024 through October 1, 2024		Year ended December 31, 2023
Current Expense:
Federal	—		—		—
State	18		—		—
Foreign	—		—		—
Total Current Expense	18		—		—
Deferred Expense:
Federal	(3,301)		432		—
State	—		—		—
Foreign	—		—		—
Total Deferred Expense	(3,301)		432		—
Total Expense:	$	(3,282)	$	432	$	—

Schedule of Reconciliation of the Income Tax Provision

A reconciliation of the expected statutory federal tax and the total income tax expense (benefit) was as follows:

	Successor		Predecessor
	October 2, 2024 through December 31, 2024		January 1, 2024 through October 1, 2024		Year ended December 31, 2023
Pre-tax book loss	$	(73,375)	$	(27,766)	$	(30,984)
Income taxes at federal statutory rate	(15,405)		—		—
State taxes, net of federal benefit	(1,801)		—		—
Tax on pre-tax earnings of corporate subsidiaries	—		(3,022)		(2,229)
Warrant liability	3,685		—		—
Non-deductible expenses	6		6		631
Change in earnout fair value	(714)		—		—
Other permanent differences	(423)		—		(4)
Change in valuation allowance	11,664		3,448		1,602
R&D credit	(294)		—		—
Total provision (benefit) for income taxes	$	(3,282)	$	432	$	—

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows:

	December 31, 2024		December 31, 2023
Deferred Tax Assets:
Deferred lease liabilities	$	138	$	189
Capitalized R&D expense	2,562		766
Fixed assets and intangibles	3,113		3,614
Reserves and other accruals	4,873		178
Loss carry-forwards and other tax attributes	15,682		1,663
Total Deferred Tax Assets	26,368		6,410
Less: Valuation allowance	(11,664)		(5,910)
Net Deferred Tax Assets	$	14,704	$	500
Deferred Tax Liabilities:
Amortization	$	(38,443)	$	(323)
Investment in Partnerships	(3,505)		—
Right of use assets	(109)		(177)
Total Deferred Tax Liabilities	(42,057)		(500)
Net Deferred Tax Liabilities	$	(27,353)	$	—