Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company’s income tax provision for the three months ended June 30, 2025 and 2024 resulted in an effective tax rate of negative 0.0% and 8.0%, respectively. The Company's income tax provision for the six months ended June 30, 2025 and 2024 resulted in an effective tax rate of negative 1.0% and 6.4%, respectively. For the three and six months ended June 30, 2025, the effective tax rate differed from the U.S. federal statutory rate, primarily due to various tax credits, increased reserves on deferred tax assets, nondeductible expenses, changes to the valuation allowance and the nondeductible portion of the goodwill impairment. For the three and six months ended June 30, 2024, the effective tax rate differed from the U.S. federal statutory rate primarily due to various tax credits, increased reserves on deferred tax assets, nondeductible expenses and nondeductible goodwill impairment. On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was signed into law. The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. ASC 740, “Income Taxes”, requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted.
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