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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense
Pretax income (loss) for the years ended December 31, 2025, 2024, and 2023 consisted of the following (in thousands):
202520242023
US$(5,639)$3,664 $125,230 
Foreign— 123 3,567 
Total$(5,639)$3,787 $128,797 
Income tax expense for the years ended December 31, 2025, 2024, and 2023 consisted of the following (in thousands):
202520242023
Current tax expense (benefit)
US Federal
$195 $7,059 $25,170 
US State
1,378 2,040 3,001 
Foreign
— — — 
Total current tax expense
1,573 9,099 28,171 
Deferred tax expense (benefit)
US Federal
7,973 (6,325)1,523 
US State
3,487 (1,078)(312)
Foreign— — — 
Total deferred tax expense (benefit)
11,460 (7,403)1,211 
Total provision for income taxes
$13,033 $1,696 $29,382 
Schedule of Components of Total Income Tax Provision Those amounts have been allocated to the following financial statement items (in thousands):
202520242023
Provision for income taxes
$13,033 $1,696 $29,382 
Stockholders' equity, unrealized (losses) gains on investment securities & foreign currency17 (52)112 
Total provision for income taxes$13,050 $1,644 $29,494 
Schedule of Cash Flow, Supplemental Disclosures
The total income tax paid or refunded for the tax years ended December 31, 2025, 2024, and 2023 was a $10.5 million payment, a $1.6 million refund, and a $34.3 million payment, respectively (in thousands):
202520242023
Income tax paid (refunded), net
US Federal$2,704 $(2,946)$30,750 
US state and local
  Texas*565 
*
  California7,350 **
  Other411 764 3,505 
Total US state and local7,761 1,329 3,505 
Foreign— — — 
Total income tax paid (refunded), net$10,465 $(1,617)$34,255 
*Jurisdiction below the threshold for the period presented
Schedule of Effective Income Tax Rate Reconciliation
The reconciliation of the United States federal statutory tax provision to the Company’s provision for income taxes for the years ended December 31, 2025, 2024, and 2023 (in thousands, except percentages):
202520242023
Statutory federal tax$(1,184)21.0 %$795 21.0 %$27,048 21.0 %
State income taxes, net of federal benefit3,284 (58.3)%486 12.8 %1,693 1.3 %
Foreign tax effects
Hong Kong— — %(22)(0.6)%296 0.2 %
Singapore— — %— — %— — %
Valuation allowance— — %(3)(0.1)%(846)(0.7)%
Other
— — %(1)— %(199)(0.1)%
Research and development and jobs credits(602)10.7 %(589)(15.5)%(1,170)(0.9)%
Changes to valuation allowances, federal only9,383 (166.4)%— — %— — %
Unrecognized tax benefit590 (10.4)%269 7.1 %440 0.3 %
Nontaxable or nondeductible items
Executive compensation543 (9.7)%52 1.4 %1,895 1.5 %
Charitable donations— — %(236)(6.2)%(1,094)(0.8)%
Intercompany loan restructuring— — %— — %1,167 0.9 %
Share-based compensation626 (11.1)%889 23.4 %143 0.1 %
Meals and entertainment210 (3.7)%314 8.3 %255 0.2 %
Other adjustments183 (3.2)%(258)(6.8)%(246)(0.2)%
Provision for income taxes$13,033 (231.1)%$1,696 44.8 %$29,382 22.8 %
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets (liabilities) consisted of the following (in thousands):
December 31, 2025December 31, 2024
Reserves on inventory and sales$1,124 $472 
Credit and loss carryforwards6,406 2,730 
Stock compensation2,699 2,055 
Accrued expenses and deferred costs1,294 2,235 
Inventory capitalization309 708 
Lease obligations2,685 4,047 
Capitalized research costs6,832 7,028 
Charitable donations77 83 
State taxes1,093 1,594 
Unrealized loss on investment
44 967 
Other166 183 
Valuation allowance(13,690)(1,624)
Total deferred tax assets9,039 20,478 
Right-of-use assets(1,816)(2,800)
Prepaid expenses(1,569)(1,590)
Depreciation(5,654)(4,628)
Total deferred tax liabilities(9,039)(9,018)
Net deferred tax assets$— $11,460 
Schedule of Unrecognized Tax Benefits Roll Forward The amounts of unrecognized tax benefits were as follows (in thousands):
December 31, 2025December 31, 2024
Unrecognized tax benefit at the beginning of the period
$7,433 $7,502 
Increase for current year tax positions
60 71 
(Decrease) increase for prior period tax positions
298 (5)
Settlement with tax authorities
(2,029)— 
Reduction due to lapse in statute of limitations(126)(135)
Unrecognized tax benefit at the end of the period
$5,636 $7,433