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Income Taxes
 3 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Effective Tax Rate
During the three months ended September 30, 2025 and 2024, our effective tax rates were (1.9)% and zero. The effective tax rates during both periods were impacted by valuation allowances of $1.4 million and $1.3 million, respectively, placed on deferred tax assets generated during the quarters.
Valuation Allowance
We recorded a valuation allowance on our deferred tax assets due to the existence of a cumulative loss over a three-year period. We will continue to place valuation allowances on newly generated deferred tax assets. We will realize the benefit associated with the deferred tax assets for which the valuation allowance has been provided as we generate taxable income.