Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date income, adjusted for discrete items arising in that quarter. The Company’s annual estimated effective tax rate differed from the U.S. federal statutory rate of 21% primarily as a result of non- deductible officer compensation, stock-based compensation shortfalls, foreign taxes, changes in the Company’s valuation allowance for income taxes, and a one-time tax benefit associated with the base erosion and anti-abuse tax. For the quarters ended June 30, 2026 and 2025, the Company recorded $3.5 million and $6.2 million in income tax expense, respectively. For the six months ended June 30, 2026 and 2025, the Company recorded $9.4 million and $10.8 million in income tax expense, respectively. The decrease in income tax expense for the quarter and six months ended June 30, 2026, compared to the quarter and six months ended June 30, 2025, resulted primarily from a one-time tax benefit associated with the base erosion and anti-abuse tax recognized in the current quarter, along with changes in the mix of profitable jurisdictions.
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