Income Taxes |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The provision for income taxes was immaterial for the three and nine months ended September 30, 2026 and 2025. The effective tax rate for the three months ended September 30, 2026 and 2025 was 4.7% and 0.2%, respectively, and for the nine months ended September 30, 2026 and 2025 was 3.3% and 7.4%, respectively. The effective tax rates differ from the federal statutory rate primarily due to a valuation allowance on the Company’s deferred tax assets. The Company reassessed the ability to realize deferred tax assets by considering the available positive and negative evidence. As of September 30, 2026, the Company concluded that its net deferred tax assets are not more-likely-than-not to be realized and maintained a full valuation allowance against such net deferred tax assets. As of September 30, 2026, the Company files tax returns in the U.S. federal and various state jurisdictions. Due to the Company’s U.S. net operating loss carryforwards, its income tax returns generally remain subject to examination by federal and most state tax authorities. Beginning in 2022, the Company’s subsidiary in India files income tax returns in India which are subject to examination by local tax authorities. This subsidiary is currently under examination by the tax authorities for the fiscal year ended March 31, 2024, and has appealed a transfer pricing assessment for the fiscal year ended March 31, 2022
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