INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME TAXES

Schedule of provision for income taxes based on income before income taxes

The provision for income taxes is based on income before income taxes as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2025		2024		2023
Domestic	$	10,781	$	3,951	$	18,630
Foreign		17,953		12,907		11,070
Income before income taxes	$	28,734	$	16,858	$	29,700

Schedule of components of the total income tax provision

Components of the total income tax provision are as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2025		2024		2023
Current provision
Federal	$	2,977	$	1,838	$	6,936
State		643		685		869
Foreign		4,548		3,522		2,834
Total current provision		8,168		6,045		10,639
Deferred benefit
Federal		(585)		(1,239)		(3,569)
State		59		(214)		(518)
Foreign		(942)		(900)		(949)
Total deferred benefit		(1,468)		(2,353)		(5,036)
Income tax provision	$	6,700	$	3,692	$	5,603

Schedule of provision for income taxes differs from the amount determined by applying the federal statutory rate

		For the year ended
		December 31,
		2025
		Amount	Percentage
U.S. federal statutory tax rate	$	6,034	21.0	%
State and local income taxes, net of federal income tax effect (1)		469	1.6	%
Foreign tax effects
Germany
Other		309	1.1	%
New Zealand
Change in valuation allowance		379	1.3	%
Other		3	-	%
Portugal
State and municipal surcharges		348	1.2	%
Investment tax credits		(650)	(2.3)	%
Changes in valuation allowances		(465)	(1.6)	%
Other		3	-	%
Other foreign jurisdictions		235	0.8	%
Effect of changes in tax laws or rates enacted in the current period		-	-	%
Effect of cross-border tax laws
Global intangible low-taxed income		410	1.4	%
Other		(439)	(1.5)	%
Tax credits
Federal research credit		(628)	(2.2)	%
Change in valuation allowance		-	-	%
Nontaxable or nondeductible items
Section 162(m) compensation		679	2.4	%
Other		200	0.7	%
Change in unrecognized tax benefits		(180)	(0.6)	%
Other adjustments		(7)	-	%
Total	$	6,700	23.3	%
(1) The tax effect in this category primarily reflects state and local taxes in Oklahoma

	For the year ended
	December 31,		December 31,
	2024		2023
Tax provision, computed at statutory rate	21.0	%	21.0	%
State tax, net of federal impact	1.0	%	1.7	%
Change in valuation allowance	(2.9)	%	(1.5)	%
Effect of foreign tax rate differences	2.4	%	1.9	%
Section 162(m) compensation	4.8	%	2.4	%
R&D Credit and incentives	(7.9)	%	(6.1)	%
Effect of Tax Cuts and Jobs Act	1.6	%	0.3	%
Unrecognized tax benefits	(1.1)	%	(0.7)	%
Other	0.9	%	(0.1)	%
Withholding tax on foreign distributions	2.1	%	-	%
Provision for income taxes	21.9	%	18.9	%

Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities

The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):

	December 31,		December 31,
	2025		2024
Noncurrent deferred tax assets:
Employee benefit plans	$	1,632	$	1,735
Net operating loss and tax credit carryforwards		6,849		6,711
Accrued expenses and reserves		3,608		2,997
Research and development costs		12,637		11,069
Other		411		439
Total noncurrent deferred tax assets		25,137		22,951
Valuation allowance		(2,399)		(2,262)
Net noncurrent deferred tax assets:	$	22,738	$	20,689
Net noncurrent deferred tax liabilities:
Property and equipment	$	2,851	$	2,812
Goodwill and intangibles		12,393		11,762
Interest rate swap derivatives		130		570
Other		96		71
Total noncurrent deferred tax liabilities	$	15,470	$	15,215
Net deferred tax asset	$	7,268	$	5,474
Presented as follows:
Noncurrent deferred income tax assets	$	10,509	$	9,116
Noncurrent deferred income tax liabilities		(3,241)		(3,642)
Net deferred tax asset	$	7,268	$	5,474

Schedule of operating loss and tax credit gross carryforwards

	December 31,		December 31,
	2025		2024
Noncurrent deferred tax assets:
Employee benefit plans	$	1,632	$	1,735
Net operating loss and tax credit carryforwards		6,849		6,711
Accrued expenses and reserves		3,608		2,997
Research and development costs		12,637		11,069
Other		411		439
Total noncurrent deferred tax assets		25,137		22,951
Valuation allowance		(2,399)		(2,262)
Net noncurrent deferred tax assets:	$	22,738	$	20,689
Net noncurrent deferred tax liabilities:
Property and equipment	$	2,851	$	2,812
Goodwill and intangibles		12,393		11,762
Interest rate swap derivatives		130		570
Other		96		71
Total noncurrent deferred tax liabilities	$	15,470	$	15,215
Net deferred tax asset	$	7,268	$	5,474
Presented as follows:
Noncurrent deferred income tax assets	$	10,509	$	9,116
Noncurrent deferred income tax liabilities		(3,241)		(3,642)
Net deferred tax asset	$	7,268	$	5,474

Schedule of cash paid for income taxes, net of refunds

Cash paid for income taxes, net of refunds, were as follows (in thousands):

Schedule of changes to the unrecognized tax benefit

The summary of changes to the unrecognized tax benefit for the year ended December 31, 2025 is as follows (in thousands):

	December 31,		December 31,		December 31,
	2025		2024		2023
Beginning balance	$	350	$	586	$	786
Additions from tax legislation changes for net operating loss carryforwards		—		—		—
Reductions related to the lapse of the statute of limitations		(180)		(193)		(207)
Effect of foreign currency translation		8		(43)		7
Ending balance	$	178	$	350	$	586