v3.26.1
Income Taxes
 6 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

9. Income Taxes

The following table summarizes the Company’s income tax expense (benefit) and effective income tax rate for the three and six months ended March 31, 2026 and 2025.

 

 

 

Three Months Ended
March 31,

 

 

Six Months Ended
March 31,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Income (loss) before income taxes

 

$

2.3

 

 

$

8.7

 

 

$

(18.1

)

 

$

(5.9

)

Income tax expense (benefit)

 

 

0.6

 

 

 

2.3

 

 

 

(4.6

)

 

 

(1.9

)

Effective income tax rate

 

 

26.1

%

 

 

26.4

%

 

 

25.4

%

 

 

32.2

%

 

The decrease in the effective tax rate for the three months ended March 31, 2026, when compared to the three months ended March 31, 2025, is primarily attributable to equity-based compensation shifting to a windfall position, as a result of fluctuations in the share price of the Company's common stock.

The decrease in the effective tax rate for the six months ended March 31, 2026, when compared to the six months ended March 31, 2025, is primarily attributable to equity-based compensation shifting from a windfall position to a shortfall position, as a result of recent decreases in the share price of the Company's common stock.