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Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table summarizes our benefit from income taxes and our effective tax rates for the periods presented (in thousands, except effective tax rate):
Three Months Ended
June 30, 		Six Months Ended
June 30,
2026202520262025
Loss before income taxes$(30,679)$(24,052)$(36,752)$(20,326)
Benefit from income taxes(7,084)(6,654)(8,443)(4,878)
Effective tax rate23.1 %27.7 %23.0 %24.0 %

For the three and six months ended June 30, 2026 and 2025 we calculated our benefit from income taxes by applying an estimate of the annual effective tax rate to loss before income taxes for the reporting period.

For the three and six months ended June 30, 2026, we recorded a benefit from income taxes of $7.1 million and $8.4 million, respectively, representing an effective tax rate of 23.1% and 23.0%, respectively, which was higher than the statutory federal tax rate primarily due to state taxes, stock-based compensation adjustments and nondeductible lobbying expenses, partially offset by research and development credits. For the three and six months ended June 30, 2025, we recognized a benefit from income taxes of $6.7 million and $4.9 million, respectively, representing an effective tax rate of 27.7% and 24.0%, respectively, which was higher than the
statutory federal tax rate primarily due to state taxes, nondeductible stock-based compensation and lobbying expenses, partially offset by research and development credits and discrete adjustments.

Assessing the realizability of our deferred tax assets is dependent upon several factors, including the likelihood and amount, if any, of future taxable income in relevant jurisdictions during the periods in which those temporary differences become deductible. We forecast taxable income by considering available positive and negative evidence, including our history of operating income and losses and our financial plans and estimates that we use to manage the business. These assumptions require significant judgment about future taxable income. As a result, the amount of deferred tax assets considered realizable is subject to adjustment in future periods if estimates of future taxable income change. We continue to recognize our deferred tax assets as of June 30, 2026, as we believe it is more likely than not that such deferred tax assets will be realized, with the exception of certain net operating losses and credits that are expected to expire unutilized which have a valuation allowance.