Income Taxes |
9 Months Ended | |||||||||||||||||||||||||
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Sep. 30, 2025 | ||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||
| Income Taxes | Note 14. Income Taxes
The provision for income taxes for the nine months ended September 30, 2025 and 2024 was $, resulting in an effective income tax rate of 0% for each period. The Company’s effective tax rate for the three months ended September 30, 2025 and 2024 was primarily due to the full valuation allowance against the Company’s net deferred tax assets.
The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all of the deferred tax assets will not be utilized. Because of our cumulative losses, substantially all of our deferred tax assets have been fully offset by a valuation allowance as of September 30, 2025, and December 31, 2024. We have not paid income taxes for the year ended December 31, 2024. The income tax provision attributable to loss before income tax benefit for the three months ended September 30, 2025 differed from the amounts computed by applying the U.S. federal statutory rate of % as a result of the following:
The Company’s 2020 through 2024 tax years remain subject to examination by the Internal Revenue Service for federal tax purposes and the Commonwealth of Pennsylvania for state tax purposes. |