Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | NOTE 13. Income Taxes The Company’s income tax provision consists of federal, foreign, and state taxes necessary to align the Company’s year-to-date tax provision with the annual effective rate that it expects to achieve for the full year. At each interim period, the Company updates its estimate of the annual effective tax rate and records cumulative adjustments as necessary. For the three and six months ended June 30, 2026, the Company recorded an income tax benefit of $373 and $2,950, respectively, which included a discrete tax benefit of $688 and $1,368, respectively, related to windfall tax benefits for stock-based compensation. The effective tax rate for the three months ended June 30, 2026 was negative 4.8% on a pre-tax income of $7,800 and for the six months ended June 30, 2026 was positive 36.8% on a pre-tax loss of $8,024. The effective tax rate for the three months ended June 30, 2026 differs from the U.S. statutory rate primarily related to windfall tax benefits associated with stock-based compensation. The effective tax rate for the six months ended June 30, 2026 differs from the U.S. statutory tax rate primarily due to (i) the limited tax benefit recognized on U.S. operating losses incurred year-to-date as the Company continues to maintain a full valuation allowance against its U.S. deferred tax assets, (ii) non-deductible executive compensation under IRC Section 162(m), (iii) state and local taxes, (iv) incremental tax related to the base erosion and anti-abuse tax, and (v) the impact of windfall tax benefits associated with stock-based compensation. For the three and six months ended June 30, 2025, the Company recorded an income tax provision of $1,192 and $2,836, respectively, which included a discrete tax benefit of $201 and $510, respectively, related to windfall tax benefits for stock-based compensation. The effective tax rate for the three months ended June 30, 2025 was negative 10.3% on a pre-tax loss of $11,622 and for the six months ended June 30, 2025 was negative 9.0% on a pre-tax loss of $31,578. The effective tax rate differs from the U.S. statutory rate primarily related to limited tax benefit on its U.S. operating losses as the Company maintains a full valuation allowance against its U.S. deferred tax assets. |