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INCOME TAXES
 9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
For the three and nine months ended September 30, 2022, we recorded an income tax provision of $0 on a loss before taxes of $9.25 million and $42.04 million, respectively. For the three and nine months ended September 30, 2021, we recorded an income tax provision of $0 on a loss before taxes of $7.96 million and $29.66 million, respectively. The effective tax rate and the federal statutory rate were each 0% for the three and nine months ended September 30, 2022 and 2021 which was primarily a result of the full valuation allowance on net deferred tax assets.
As of September 30, 2022, we maintained a full valuation allowance against our net deferred tax assets. We continually review the adequacy of the valuation allowance and intend to continue maintaining a full valuation allowance on our net deferred tax assets until there is sufficient evidence to support the reversal of all or a portion of the allowance. Should our assessment change in a future period, we may release all or a portion of the valuation allowance, which would result in a deferred tax benefit in the period of adjustment.