Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes We file income tax returns in the U.S. federal jurisdiction, various U.S. state and local jurisdictions, and other international jurisdictions. For interim periods, income tax expense and the resulting effective tax rate are based upon an estimated annual effective tax rate adjusted for the effects of items required to be treated as discrete to the period, including changes in tax laws, changes in estimated exposures for uncertain tax positions, and other items. The effective tax rate was 89.9% and (54.0)% for the three months ended June 30, 2026 and 2025, respectively, and 299.2% and 132.8% for the six months ended June 30, 2026 and 2025, respectively. The increase in the effective tax rate in both periods was primarily driven by shortfalls related to stock-based compensation and the impact of executive compensation limitations. For the three and six months ended June 30, 2025, we recorded state and foreign tax expense while maintaining a full valuation allowance against federal and state deferred tax assets, a majority of which was subsequently released at December 31, 2025. The total liability for unrecognized tax positions was $0.1 million at both June 30, 2026 and December 31, 2025. Penalties and interest related to unrecognized tax positions are recorded as other expense in the consolidated statements of operations.
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