Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s tax provisions for interim reporting periods during 2026 and 2025 were determined using an estimated annual effective tax rate which is adjusted for discrete items occurring during the periods presented. The Company’s effective tax rates for the three and six months ended June 30, 2026 differ from the U.S. federal statutory income tax rate of 21% primarily due to state taxes, stock-based compensation and interest on uncertain tax positions. The primary difference between the Company’s effective tax rates and the U.S. federal statutory income tax rates for the three and six months ended June 30, 2025 was due to discrete items related to stock-based compensation and uncertain tax positions, partially offset by research and development credits. The Company maintains a valuation allowance on its California deferred tax assets, which consist primarily of tax credits, as of June 30, 2026. The Company’s judgment regarding the likelihood of realization of these deferred tax assets could change in future periods, which could result in a material impact to the Company’s income tax provision in the period of change.
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