Income Taxes |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes For the three and nine months ended September 30, 2026, the Company recognized income tax benefit of $0.6 million and expense of $0.4 million, respectively, on a pre-tax loss of $7.7 million and $48.2 million, respectively. The Company calculated the provision for income taxes for the three and nine months ended September 30, 2026 by applying an estimate of the annual effective tax rate for the full year to ordinary loss adjusted by the tax impact of discrete items. The income tax benefit for the three months ended September 30, 2026 was primarily attributable to a discrete benefit related to amending prior year tax returns, partially offset by state and foreign tax expense as a result of current taxable income in certain jurisdictions. The income tax expense for the nine months ended September 30, 2026 was primarily attributable to state and foreign tax expense as a result of current taxable income in certain jurisdictions, partially offset by a discrete benefit related to amending prior year tax returns. For the three and nine months ended September 30, 2025, the Company recognized income tax benefit of $4.0 million and $0.8 million, respectively, on a pre-tax loss of $25.1 million and $205.0 million, respectively. The Company calculated the provision for income taxes for the three and nine months ended September 30, 2025 by applying an estimate of the annual effective tax rate for the full year to ordinary loss adjusted by the tax impact of discrete items. Income tax benefit for the three and nine months ended September 30, 2025 was primarily due to a reduction in domestic cash tax expense as a result of the passage of the One Big Beautiful Bill Act in July 2025. The Company continues to maintain a full valuation allowance against its net deferred tax assets as of September 30, 2026 based on the current assessment that it is not more likely than not these future benefits will be realized before expiration.
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