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Income Taxes | 9 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | 13. Income Taxes The Company’s quarterly tax provision and estimates of its annual effective tax rate are subject to variation due to several factors, including variability in pre-tax income (or loss), the mix of jurisdictions to which such income relates, tax law developments, non-deductible expenses, excess tax benefits from share-based compensation awards, and changes in its valuation allowance. Income tax expense (benefit) was $1.5 million and $(1.3) million for the three months ended September 30, 2025 and 2024, respectively, and $5.0 million and $45 thousand for the nine months ended September 30, 2025 and 2024, respectively. The income tax expense for the periods consisted primarily of income taxes related to the Company’s operations in the United States. In addition, for the three and nine months ended September 30, 2024, income tax expense (benefit) included a discrete tax benefit of $4.2 million in Israel attributable to the release of valuation allowance as a result of recognizing deferred tax liabilities associated with the business acquisition in July 2024. A valuation allowance is provided when it is more likely than not that the deferred tax assets will not be realized. Based on the available objective evidence during nine months ended September 30, 2025, the Company believes it is more likely than not that the tax benefits of the Company’s losses incurred in Israel may not be realized. Gross unrecognized tax benefits were $6.1 million as of September 30, 2025 and December 31, 2024. As of September 30, 2025, the Company does not expect its unrecognized tax benefits to change significantly within the next twelve months. On July 4, 2025, the “One Big Beautiful Bill Act” (“OBBBA”) was enacted into law. The OBBBA includes significant changes to the U.S. tax law, including the extension and modification of several key provisions of the Tax Cuts & Jobs Act. The Company does not expect the OBBBA to have a material impact on its consolidated financial statements.

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