v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The table below presents our income (loss) before provision for income taxes, provision for income taxes and effective tax rate for the three and six months ended June 30, 2026 and 2025 (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Income (loss) before provision for income taxes$80,259 $(110,788)$(45,266)$(231,737)
Provision for income taxes$(179)$(170)$(349)$(186)
Effective tax rate0.2%(0.2%)(0.8%)(0.1%)
The Company is subject to income taxes in the United States and foreign jurisdictions. These foreign jurisdictions have statutory tax rates different from those in the United States. Accordingly, the Company’s effective tax rates will vary depending on the relative proportion of foreign to United States income/loss, the utilization of net operating loss and tax credit carry forwards and carrybacks, changes in jurisdictional mix of income and expense, changes in management’s assessment of matters such as the ability to realize deferred tax assets, and changes in tax laws.
Unrecognized tax benefits were $18.4 million and $17.3 million as of June 30, 2026 and December 31, 2025, respectively, and if recognized, would favorably affect the effective tax rate in future periods.