v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Loss Before Income Taxes
The components of the loss before income taxes were as follows:
($ in millions)20252024
Domestic$(52.1)$(78.8)
Foreign— — 
   Loss before income taxes$(52.1)$(78.8)
Schedule of Components of Income Tax Expense (Benefit)
The components of the income tax provision (benefit) were as follows:

($ in millions)20252024
Current
Federal$— $(0.1)
State0.3 0.3 
Total current income tax expense0.3 0.2 
Deferred
Federal— (0.2)
State— (0.2)
Total deferred income tax provision (benefit)— (0.4)
Income tax provision (benefit)$0.3 $(0.2)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the statutory U.S. federal income tax rate of 21.0% to our effective income tax rate follows:
($ in millions)20252024
U.S. Federal statutory rate$(10.9)21.0%$(16.5)21.0%
State and local, net of federal benefit0.2 (0.4)%0.1(0.1)%
Tax credits (Work Opportunity Credit)(0.6)1.1%——%
Change in valuation allowance10.9 (20.9)%15.9(20.1)%
Nondeductible or nontaxable items0.4 (0.8)%0.1(0.1)%
Other reconciling items0.3 (0.6)%$0.2(0.3)%
Effective tax rate$0.3 (0.6)%$(0.2)0.4%
Schedule of Deferred Tax Assets and Liabilities The major components of deferred tax assets and liabilities are as follows:
($ in millions)20252024
Deferred tax assets:
Net operating loss carryforward$33.0 $33.8 
Business interest carryforward37.8 31.5 
Lease liabilities47.4 47.4 
Goodwill and intangible assets46.3 46.9 
Accrued liabilities3.4 0.6 
Transaction costs1.0 1.1 
Tax credits0.6 — 
Stock-based compensation0.2 0.4 
Other1.2 — 
Total gross deferred tax assets170.9 161.7 
Valuation allowance(122.9)(113.0)
Deferred tax assets, net48.0 48.7 
Deferred tax liabilities:
ROU assets35.5 36.5 
Property and equipment12.1 12.2 
Debt issuance costs amortization0.2 — 
Other0.2 — 
Deferred tax liabilities48.0 48.7 
Net deferred tax asset (liability)$— $— 
Schedule of Valuation Allowance
The Company has evaluated the positive and negative evidence bearing upon its ability to realize the deferred tax assets. As of December 31, 2025 and 2024, management has evaluated the realizability of the Company’s deferred tax assets and recorded a valuation allowance against the Company’s federal and state deferred tax assets, as it is more likely than not that the deferred tax assets will not be realized based on the evidence evaluated.
($ in millions)20252024
Valuation allowance as of beginning of the year$113.0 $93.6 
Increases recorded to income tax provision9.9 19.4 
Valuation allowance as of end of year$122.9 $113.0 
Schedule of Income Taxes Paid (Received)
The components of income taxes paid (received) were as follows:
($ in millions)20252024
Federal$— $(0.3)
State0.4 (0.5)
Foreign— — 
Total income taxes paid (received)$0.4 $(0.8)
Income taxes paid (net of refunds) exceeded five percent of total income taxes paid (net of refunds) in the following jurisdictions:
($ in millions)20252024
State
Florida0.1 $(0.7)
Texas0.3 0.2 
The following table includes supplemental cash flow information, including noncash investing and financing activity:
($ in millions)20252024
Supplemental Disclosure of Cash Flow Information(1):
   Cash paid for interest$45.7 $49.5 
   Cash paid (received) for taxes, net0.4 (0.8)
Non-cash Investing and Financing Activities:
   Fair value of warrants issued as financing costs1.1 — 
(1) For supplemental cash flow information related to leases, see Note 9.