INCOME TAXES |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| INCOME TAXES | |
| INCOME TAXES | NOTE 15. INCOME TAXES The Company recorded a tax benefit of $1.8 million and $1.4 million for the three months ended March 31, 2025, and 2024, respectively, which resulted in effective tax rates of 1.6%, and 1.2%, respectively. The effective tax rate is different from the U.S. statutory rate of 21% due to the full valuation allowance against tax losses in the U.S. The income tax benefit for the periods presented primarily relates to operations in the UK and realization of related deferred taxes. As of March 31, 2025, the Company continued to maintain its full valuation allowance against U.S. federal and state net deferred tax assets as it expected to be in a cumulative loss position and does not have sufficient positive evidence to support the realizability of its U.S. net deferred tax assets. |