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

14. Income Taxes

 

For the three and six months ended June 30, 2026 and 2025, the Company recorded current state income tax expense of $4 for each of the three and six months ended June 30, 2026 and $6 for each of the three and six months ended June 30, 2025, primarily related to minimum taxes payable in certain state jurisdictions. The Company incurred pre-tax losses for the three and six months ended June 30, 2026 and 2025 and continues to maintain a full valuation allowance against its deferred tax assets due to its cumulative loss position and projected future losses. Accordingly, the Company’s effective tax rate was 0.0% for each of the three and six months ended June 30, 2026 and 2025. The Company’s effective tax rate differs from the U.S. federal statutory rate of 21.0% primarily due to the valuation allowance recorded against the Company’s net deferred tax assets.