Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company's provision for income taxes was immaterial for the three and six months ended June 30, 2026 and 2025. The Company maintained a full valuation allowance against its net deferred tax assets. There were no material changes to the Company's deferred tax assets or valuation allowance from December 31, 2025. The deferred tax assets were primarily comprised of federal and state tax net operating loss carryforwards. The effective tax rate differs from the statutory tax rate primarily due to the valuation allowance. Utilization of the net operating loss carryforwards may be subject to annual limitation due to historical or future ownership percentage change rules provided by the Internal Revenue Code of 1986, and similar state provisions. The annual limitation may result in the expiration of certain net operating loss carryforwards before their utilization. As of June 30, 2026, the Company had unrecognized tax benefits under ASC 740 Income Taxes of $3.9 million and no applicable interest. There were no unrecognized tax benefits that, if recognized, would affect the Company's effective tax rate as of June 30, 2026. The Company's policy is to account for interest and penalties related to uncertain tax positions as a component of income tax provision. The Company does not anticipate that the amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months. Due to historical losses, all years are open to examination and adjustment by the taxing authorities.
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