Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s income tax provision for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items arising in the quarter. The income tax provision for the three and six months ended June 30, 2026 was $0.1 million and $0.7 million, respectively. The income tax provision for the six months ended June 30, 2026 includes $0.9 million of discrete items primarily related to withholding taxes on sales to customers. Discrete items for the three months ended June 30, 2026, were not significant. The income tax benefit for the three and six months ended June 30, 2025 was $3.6 million and $3.4 million, respectively. The income tax benefits recorded for the three and six months ended June 30, 2025 primarily related to the resolution of an IRS examination of the Company’s 2017 and 2018 tax years offset by income taxes for its foreign operations. The Company’s effective tax rate was (0.7)% and (1.9)% for the three and six months ended June 30, 2026, respectively, and 14.9% and 7.4% for the three and six months ended June 30, 2025. The Company’s effective tax rate differs from the U.S. statutory tax rate primarily due to valuation allowances on the deferred tax assets as it is more likely than not that some, or all, of the Company’s deferred tax assets will not be realized. We continue to maintain a full valuation allowance against our U.S. Federal, state and certain foreign deferred tax assets, excluding specific balances related to the Stereolabs acquisition.
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