Income Taxes |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company did not incur a significant amount of U.S. income tax expense during the three and nine months ended September 30, 2026 and 2025. The Company has historically incurred operating losses and continues to maintain a full valuation allowance against substantially all of its U.S. net deferred tax assets. Foreign income tax benefits were insignificant for the three months ended September 30, 2026 and $5.5 million for the nine months ended September 30, 2026. The Company did not incur a significant amount for three and nine months ended September 30, 2025. The Company’s U.S. net operating loss (“NOL”) and tax credit carryforwards are subject to review and adjustment by the Internal Revenue Service (“IRS”) and may be subject to annual limitations under Section 382 of the Internal Revenue Code, as amended and similar state provisions in the event of certain ownership changes. In general, an ownership change, as defined by Section 382, occurs when the ownership of certain stockholders or public groups increases by more than 50% over a rolling three-year period. These ownership changes may limit the amount of NOLs and other tax attributes that can be utilized annually to offset future taxable income. The Company completed Section 382 studies through December 31, 2025 and concluded that ownership changes occurred in September 2017, and October 2025. As a result, the Company’s ability to utilize its NOLs and other tax attributes is limited within an annual period. However, the attributes can be utilized over their lifetime. This ownership change does not result in a expense or benefit being recorded to the Company’s Condensed Consolidated Statements of Operations during the three or nine months ended September 30, 2026 The Company will continue to monitor ownership changes that could result in additional limitations on the utilization of its tax attributes.
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