Income Taxes |
3 Months Ended |
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Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 15 - Income Taxes The Company’s provision for income taxes for both the three months ended March 31, 2026 and 2025 was based on our projected annual effective tax rate for fiscal year 2026 and 2025, respectively, adjusted for specific items that are required to be recognized in the period in which they occur. The effective tax rate, inclusive of items specific to the period, for the three months ended March 31, 2026 and 2025 was 33.9% and 32.2%, resulting in income tax expense of $15.0 million and $12.8 million, respectively. The Company’s projected 2026 annual effective tax rate differed from the U.S. federal statutory rate of 21.0% due to U.S. state taxes, non-deductible equity compensation expense, and foreign taxes, partially offset by research and development credits. Further, the Company’s annual effective tax rate includes period specific costs associated with shortfalls in tax-deductible equity compensation compared to amounts recognized in our financial accounts. The Company received income tax refunds, net of taxes paid, of $7.0 million during the three months ended March 31, 2026. Cash paid for income taxes was $2.9 million during the three months ended March 31, 2025.
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