Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 11. Income Taxes After considering all available positive and negative evidence, including cumulative losses, the Company concluded that it remains more likely than not that its net deferred tax assets will not be realized. Accordingly, the Company maintains a full valuation allowance against its net deferred tax assets. The Company recorded an income tax benefit of $5.3 million for the three months ended March 31, 2026, primarily related to the release of uncertain tax position liabilities associated with intellectual property sales made in prior periods. The release resulted from changes in facts and circumstances impacting the more likely than not position to be assessed by the relevant tax authorities during the quarter ended March 31, 2026. This benefit was partially offset by current-period Italian income tax expense. The primary differences between the Company’s effective tax rate and the U.S. federal statutory tax rate were the change in valuation allowance and the discrete release of uncertain tax position liabilities. The Company recorded $47 thousand of tax expense for the three months ended March 31, 2025 primarily related to foreign withholding tax and interest on the uncertain tax position liability. |