v3.26.1
Income Taxes
6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 11 INCOME TAXES

The provision (benefit) for income taxes is as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Provision (benefit) for income taxes

 

$

3,845

 

 

$

(2,151

)

 

$

9,362

 

 

$

(4,330

)

The effective tax rates are as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Effective tax rate

 

 

14.0

%

 

 

36.2

%

 

 

19.8

%

 

 

58.4

%

The difference between the Company’s effective tax rate and the U.S. statutory tax rate of 21% was primarily the result of non-deductible equity awards. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized.