Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Effective Income Tax Rate Reconciliation [Line Items] | |
| Income taxes | 10. Income taxes The tax provisions for the three and six months ended June 30, 2025, and 2024 were computed using the estimated effective tax rates applicable to the taxable jurisdictions for the full year. The Company’s tax rate is subject to management’s quarterly review and revision, as necessary. The Company’s effective tax rate was 0% for the three and six months ended June 30, 2025. The Company paid no income taxes for the three and six months ended June 30, 2025. The Company paid less than $0.1 million in income taxes for the three and six months ended June 30, 2024. The Company records a provision or benefit for income taxes on pre-tax income or loss based on its estimated effective tax rate for the year. Given the Company’s uncertainty regarding future taxable income, the Company maintains a full valuation allowance on its deferred tax assets. On July 4, 2025, the One Big Beautiful Bill Act was signed into law in the U.S., which contains a broad range of tax reform provisions affecting businesses. We are evaluating the full effects of the legislation on our estimated annual effective tax rate and cash tax position, but we expect that the legislation will likely not have a material impact on our financial statements. As the legislation was signed into law after the close of our second quarter, any impacts are not included in our unaudited condensed consolidated financial statements for the six months ended June 30, 2025. |