v3.24.2.u1
INCOME TAXES (Tables)
3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
SCHEDULE OF LOSS BEFORE INCOME TAXES

Loss before income taxes consists of the following:

 

   2024   2021 (restated)   2022 (restated)   2023 
  

Three Months Ended

March 31,

   Year Ended December 31, 
   2024   2021   2022    2023 
U.S. operations  $(7,990)  $(14,996)  $(10,303)  $(16,494)
Foreign operations   (162)   4,113    4,421    11,443 
Loss before income tax  $(8,152)  $(10,883)  $(5,882)  $(5,051)
SCHEDULE OF PROVISION FOR INCOME TAXES

The provision for income taxes consists of the following for the periods presented:

 

  2024   2021 (restated)   2022 (restated)   2023 
   Three Months Ended March 31,   Year Ended December 31, 
  2024   2021    2022    2023 
Current:                
Federal  $-   $-   $-   $- 
State   25    16    93    68 
Foreign   220    127    69    519 
Total current provision  $245   $143   $162   $587 
Deferred:                    
Federal  $-   $-   $-   $- 
State   -    -    -    - 
Foreign   107    1,745    708    2 
Total deferred provision  $107   $1,745   $708   $2 
Total provision for income taxes  $352   $1,888   $870   $589 
SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE

The difference between income taxes at the statutory federal income tax rate and income taxes reported in the Consolidated Statements of Operations for the years ended December 31 and March 31 is attributable to the following:

 

   2024   2021 (restated)   2022 (restated)   2023 
   Three Months Ended March 31,   Year Ended December 31, 
   2024   2021    2022    2023 
Income tax benefit at the federal statutory rate  $(1,712)  $(2,285)  $(1,236)  $(1,061)
State and local income taxes, net of federal taxes   (145)   411    (313)   (298)
Increase (decrease) in valuation allowance   1,570    595    (1,105)   1,488 
Remeasurement of deferred tax adjustments   8    1,302    359    4 
Permanent differences and other   222    269    810    678 
Foreign rate differential   396    1,008    (151)   (1,924)
GILTI inclusion   -    509    2,425    1,586 
Other   13    79    81    57 
Acquisition fees   -    -    -    59 
Income tax expense  $352   $1,888  

$

870   $589 
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2022 and 2023 and March 31, 2024 are presented below:

 

   December 31,
2022
   December 31,
2023
   March 31,
2024
 
Deferred tax assets:            
Net operating loss carryforwards  $27,722   $27,643   $28,135 
Capital loss carryforwards   10,670    10,179    10,377 
Deferred revenue   2,035    2,241    2,265 
Stock-based compensation   459    302    230 
Federal research and development tax credits   1,058    1,058    1,058 
Capitalized research   980    1,396    1,524 
Inventories   324    411    383 
Bad debt reserve   594    724    639 
Deferred lease liability   548    425    388 
Acquisition costs   -    923    1,455 
Other deductible temporary differences   2,610    2,399    2,859 
Total gross deferred tax assets  $47,000   $47,701   $49,313 
Less: valuation allowance   (43,692)   (44,495)   (46,532)
Net deferred tax assets  $3,308   $3,206   $2,781 
                
Deferred tax liabilities:            
Intangible amortization  $(4,403)  $(4,068)  $(3,958)
ROU assets   (498)   (382)   (348)
Other deductible temporary differences   -    (343)   (159)
Total deferred tax liabilities  $(4,901)  $(4,793)  $(4,465)
                
Net deferred tax liabilities  $(1,593)  $(1,587)  $(1,684)
SCHEDULE OF UNRECOGNIZED TAX POSITIONS

A reconciliation of the beginning and ending amount of unrecognized tax positions is as follows as of December 31, 2022 and 2023 and March 31, 2024:

 

   December 31,
2022
   December 31,
2023
   March 31,
2024
 
Balance at the beginning of the period  $384   $344   $294 
Additions based on tax provisions taken related to current period   123    139    27 
Reductions related to expiration of statute of limitations   (163)   (189)   - 
Balance at the end of period  $344   $294   $321