Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Taxes | |
| Income Taxes | Note 14 — Income Taxes The Company has determined that a discrete year-to-date method of reporting would provide more reliable results for the six months ended June 30, 2026, and June 30, 2025, due to the difficulty in projecting future results. The Company recorded income tax benefit of $14 and income tax expense of $10 for the three months ended June 30, 2026 and 2025, respectively. The Company recorded income tax expense for the six months ended June 30, 2026 of $19 and income tax expense for the six months ended June 30, 2025 of $18. The Company maintains a valuation allowance on its deferred tax assets and intends to do so until there is sufficient evidence to support the reversal of all or some portion of this allowance. For the three months ended June 30, 2026, and 2025, the Company’s effective income tax rates were 0.57% and (0.30)%, respectively. For the six months ended June 30, 2026, and 2025, the Company’s effective income tax rates were (0.39)% and (0.23)%, respectively. The effective tax rates for the three and six months ended June 30, 2026 and June 30, 2025 were below the U.S. statutory tax rate of 21% primarily due to losses generated by the Company and the Company’s valuation allowance. During 2024 and 2025, the Company determined that it experienced an ownership change as defined under Internal Revenue Code Section 382. The result of the ownership change is subjecting tax attributes to an annual limitation which includes the utilization of the Company’s net operating losses. The Company will continue to monitor ownership changes throughout future periods. |