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

11.Income Taxes

The Company’s effective tax rate for the three and six months ended June 30, 2026 and 2025 was as follows (in thousands):

For the Three Months Ended

For the Six Months Ended

June 30, 

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

2026

2025

Income before income taxes

$

53,333

$

61,906

$

104,389

$

128,811

Income tax expense

12,037

14,255

25,460

16,935

Effective tax rate

22.6

%

23.0

%

24.4

%

13.1

%

The change in the effective tax rate for the six months ended June 30, 2026 and 2025 was impacted by the period in which the Company was treated as a Partnership for US income tax purposes before the Initial Public Offering in June 2025.