Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company continues to maintain a full valuation allowance on the Company’s U.S. Federal and state net deferred tax assets. In the three months ended June 30, 2026 and 2025, the Company recorded income tax expense of $0.3 million and $0.6 million, respectively, primarily due to foreign tax expense. In the six months ended June 30, 2026 and 2025, the Company recorded income tax benefit of $3.9 million and income tax expense of $1.2 million, respectively. The tax benefit for the six months ended June 30, 2026 was primarily due to the recognition of a previously unrecognized tax benefit of $4.3 million which resulted from the lapse of the applicable statute of limitations in the UK. The tax expense for the six months ended June 30, 2025 was primarily due to foreign tax expense.
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