Income Taxes |
6 Months Ended |
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Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes We recorded a provision for income taxes of $1.0 million and $1.4 million for the three months ended June 30, 2026 and 2025, respectively. We recorded income tax expense of $3.2 million and $2.3 million for the six months ended June 30, 2026 and 2025, respectively. The Company’s income tax provision for the three and six months ended June 30, 2026 and 2025 primarily consisted of U.S. federal and state taxes. We had $8.3 million of unrecognized tax benefits as of June 30, 2026. Accrued interest and penalties related to unrecognized tax benefits are recognized as part of our provision for income taxes in our condensed consolidated statements of operations. We are subject to taxation in the United States, various states, and several foreign jurisdictions. Because we have net operating loss and credit carryforwards, there are open statutes of limitations in which federal, state and foreign taxing authorities may examine our tax returns for all years from 2005 through the current period. We are not currently under examination by any taxing authorities. At the end of the second quarter of 2026, California passed Senate Bill 122 extending the R&D credit limitation as well as the annual election for the refundable credits through tax year 2029. For tax years 2030 and onwards, the R&D credit limitation will be the greater of $5 million or 70% of tax liability. This California law change is not expected to have any tax impact to the Company, given the Company's R&D credit utilization is projected to be less than $5 million annually. The Company will continue to monitor and assess the impact of OBBBA and state law changes to the consolidated financial statements.
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