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Income Taxes
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s income tax expense was $0.1 million and $0.5 million for the three and nine months ended September 30, 2025, respectively. The Company’s income tax expense was $0.1 million and $0.3 million for the three and nine months ended September 30, 2024, respectively. Income tax expense consists primarily of income taxes in the United Kingdom and India. Due to the Company’s history of losses in the United States, a full valuation allowance on substantially all of the Company’s deferred tax assets, including net operating loss carryforwards, deferred expenses, stock compensation and other book versus tax differences, was maintained. The Company’s effective tax rate was (1.04)% and (1.38)% of the loss before income taxes for the three and nine months ended September 30, 2025, respectively. The Company’s effective tax rate was (1.31)% and (1.02)% of the loss before income taxes for the three and nine months ended September 30, 2024, respectively. The Company’s effective tax rate is mainly affected by tax rates and relative income earned in the United Kingdom and India, state taxes and changes in the valuation allowance.
On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the United States. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions including the immediate expensing of U.S. research and development expenditures. The OBBBA is not expected to have a material impact on the Company’s consolidated financial statements.