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Income Taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
12.
Income Taxes

The Company determines its interim income tax provision by applying the estimated effective income tax rate expected to be applicable for the full fiscal year to the income before income taxes for the period. In determining the full year effective tax rate estimate, the Company does not include the estimated impact of unusual and/or infrequent items, which may cause significant variations in the expected relationship between income tax expense (benefit) and pre-tax income (loss). These unusual and/or infrequent items are included in the period in which they occur after applying the effective tax rate that does not include these items. Significant judgment is exercised in determining the income tax provision due to transactions, credits and estimates where the ultimate tax determination is uncertain.

The Company’s U.S. federal statutory corporate income tax rate was 21% as of September 30, 2025. For the three and nine months ended September 30, 2025, the Company recorded a benefit from income taxes of $3.5 million and a provision for income taxes of $3.9 million, respectively, which resulted in an effective tax rate of 19.6% and 114.7%, respectively. The differences between the U.S. federal statutory and effective tax rates are primarily attributable to changes in valuation allowances, state taxes, global intangible low-taxed income and nondeductible cost for contingent liabilities. For the three and nine months ended September 30, 2024, the Company recorded a benefit from income taxes of $3.7 million and $0.9 million, respectively, which resulted in an effective tax rate of 25.0% and 23.7%, respectively.

Liabilities for unrecognized tax benefits were $1.8 million and $1.5 million as of September 30, 2025 and December 31, 2024, respectively, and are included within other noncurrent liabilities in the condensed consolidated balance sheets. Associated interest and penalties were not significant as of September 30, 2025 and December 31, 2024.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, bringing significant changes to U.S. income-tax laws. The Company has monitored the impact as of the quarter ended September 30, 2025 and has recognized the effects of the new tax law in the period of enactment, in accordance with ASC 740. The significant items impacted as a result of the new law is the immediate expensing of domestic research and experimental expenditures and the increased cap on the deductibility of business interest expense. The Company continues to evaluate the impact of OBBBA on its consolidated financial statements and will update its estimates as additional guidance becomes available.