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Income Taxes
6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
14. Income Taxes
The consolidated effective tax rate was (1.3)% and (0.3)% for the six months ended June 30, 2024 and 2023, respectively. The difference between the rate for the three months ended June 30, 2024 and 2023 and the U.S.
federal income tax rate of 21% was due primarily to a full valuation allowance against the Company’s net deferred tax assets.
As of June 30, 2024 and 2023, the Company has $5.8 million and $3.8 million of unrecognized tax benefits, respectively, fully offset by a valuation allowance. No material interest or penalties were incurred during the six months ended June 30, 2024 and 2023.