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Income Taxes | 6 Months Ended
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Jun. 30, 2026
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company’s effective tax rates on pre-tax income were 48.3% and 61.4% for the three months ended June 30, 2026 and 2025, respectively, and 42.3% and 32.0% for the six months ended June 30, 2026 and 2025, respectively. The decrease in the Company’s effective tax rate for the three months ended June 30, 2026, compared to the prior year was primarily due to deferred state tax expense recognized as part of the Arroweye Solutions, Inc. acquisition in the prior-year period. The increase in the Company's effective tax rate for the six months ended June 30, 2026, compared to the prior year was primarily attributable to the write off of a deferred tax asset associated with vested stock options that expired unexercised, as well as an increase in the valuation allowance related to a certain state decoupling from various favorable federal tax provisions. For the six months ended June 30, 2026 and 2025, the effective tax rates differ from the U.S. federal statutory income tax rate as follows:
| June 30,
| 2026 |  | 2025
Tax at federal statutory rate | 21.0 | % |  | 21.0 | %
State taxes, net | 7.4 |  |  | 9.0 |
Valuation allowance | 2.5 |  |  | — |
Permanent items (1) | 11.1 |  |  | 3.6 |
Tax credits | (1.1) |  |  | (1.6) |
Other | 1.4 |  |  | — |
Effective income tax rate | 42.3 | % |  | 32.0 | %
____________________________________________ (1)Includes the deductibility limitations on excess compensation.

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