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

10. Income Taxes

The Company recorded income tax expense of less than $0.1 million and $0.1 million for the three months ended March 31, 2026 and 2025, respectively, representing an effective tax rate of 0.4% and 6.8% in each period, respectively. The tax expense recorded relates to the earnings of the Company’s profitable foreign subsidiaries.

As of March 31, 2026 and 2025, the Company maintained a full valuation allowance against its net deferred tax assets as the Company has incurred significant operating losses since inception and has concluded that its net deferred tax asset is not more-likely-than-not realizable.

As of March 31, 2026 and 2025, the Company has not recorded tax reserves for any uncertain tax provisions.