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

NOTE 14 – INCOME TAXES

The Company’s provision for income taxes in interim periods is computed by applying the estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur. For the three months ended March 31, 2026, the Company utilized an estimated effective tax rate.

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Income tax benefit

 

 

(298

)

 

 

(317

)

Effective tax rate

 

 

102

%

 

 

41

%

The effective tax rate of 102% for the three months ended March 31, 2026 was higher than the rate for the three months ended March 31, 2025, of 41% primarily due to the change in our pre-tax book loss year over year.

 

Income tax expenses for the three months ended March 31, 2026 and March 31, 2025 were calculated using an estimated effective tax rate which differs from the U.S. federal statutory rate of 21% primarily due to the adjustment for production tax credits.