XML 31 R20.htm IDEA: XBRL DOCUMENT v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Taxes  
Income Taxes

Note 13.  Income Taxes

​

Income tax expense was $2.1 million for the three months ended June 30, 2026, compared to $3.6 million for the three months ended June 30, 2025. The $1.6 million decrease was primarily due to the decrease in pre-tax book income and an increase in stock-based compensation deduction. The reported effective tax rate (“ETR”) for the three months ended June 30, 2026 was 8.1% compared to 10.3% for the three months ended June 30, 2025. The ETR for the six months ended June 30, 2026 was less than the U.S. statutory rate of 21%, primarily attributable to the Foreign Derived Intangible Income deduction and Federal research and development tax credits.

​

On July 4, 2025, legislation known as the One Big Beautiful Bill Act (the “OBBBA”) was signed into law. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act. The legislation has multiple effective dates, with certain provisions being implemented through 2027. The impacts of the portions of the OBBBA that have come into effect are reflected in our results for the quarter ended June 30, 2026. We will continue to evaluate the full impact of these legislative changes as additional guidance becomes available.

​