Income Taxes |
3 Months Ended |
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Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company calculates its tax provision in interim periods using its best estimate of the effective tax rate expected for the full year. For the three months ended March 31, 2026 and 2025, the Company recorded income tax expense of $4.6 million and $3.0 million, respectively. The effective tax rate was approximately 22.2% for the three months ended March 31, 2026, compared to 21.0% for the three months ended March 31, 2025. The effective tax rate for the three months ended March 31, 2026 differs from the statutory tax rate of 21.0%, primarily due to estimated non-deductible excess officer compensation, state taxes and non-deductible expenses. The effective tax rate for the three months ended March 31, 2025 approximates the statutory tax rate of 21.0%, primarily due to expected excess tax benefits on the vesting of stock-based compensation offsetting state taxes and non-deductible expenses. As of March 31, 2026 and December 31, 2025, the company had unrecognized tax benefits of $0.4 million, including $0.1 million of interest and penalties, respectively, related to research and development credits claimed on current year and prior year amended income tax returns. The Company’s policy is to record interest and penalties related to uncertain tax positions in income tax expense. If recognized, approximately $0.4 million of unrecognized tax benefits as of March 31, 2026 and December 31, 2025, respectively, would affect the effective tax rate.
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