Income taxes |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 | |||
| Income taxes | |||
| Income taxes |
The Company recorded $0.5 million and $0.9 million deferred tax expense in relation to its operations in the U.S. during the three and six months ended June 30, 2025, respectively. The Company recorded $0.9 million and $1.6 million deferred tax expense in relation to its operations in the U.S. during the three and six months ended June 30, 2024, respectively. The effective income tax rate of 1.1% and 1.1% during the three and six months ended June 30, 2025 (during the three and six months ended June 30, 2024, 1.7% and 1.3%, respectively) is substantially lower than the enacted rate of 25.8% in the Netherlands as the Company records a valuation allowance against its net deferred tax assets in the Netherlands and a partial valuation allowance against its net deferred tax assets in France.
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