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

18. INCOME TAXES

 

The following table provides details of income taxes:

 

    For the Three Months Ended
June 30,		     For the Six Months Ended
June 30,		  
    2026     2025     2026     2025  
                         
(Loss) income before income taxes   $ (113,126 )   $ 16,465     $ (262,981 )   $ (40,575 )
(Benefit from) Provision for income taxes   $ (1,460 )   $ 1,592     $ (1,038 )   $ 2,263  
Effective tax rate     1.3 %     9.7 %     0.4 %     (5.6 )%

 

The effective tax rate was 1.3% and 9.7% for the three months ended June 30, 2026 and 2025, respectively, and 0.4% and (5.6)% for the six months ended June 30, 2026 and 2025, respectively. The lower effective tax rates for the six month period primarily due to geographic mix earning impacts and Net CFC Tested Income or NCTI (a.k.a GILTI) impact. Also, in both periods presented, the Company was not able to benefit from current year foreign loss before taxes due to foreign valuation allowance from certain foreign operations.