v3.25.3
Income Taxes
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

11. Income Taxes

The Company recorded no income tax expense for the three and nine months ended September 30, 2025 and 2024, respectively. The Company continues to maintain a full valuation allowance.

On July 4, 2025, the One Big Beautiful Bill Act (the “Act”) was enacted in the U.S. The Act includes significant changes to federal tax law, 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. The Act has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Act did not result in a material impact on the estimated annual effective tax rate in 2025 as the Company maintains a full valuation allowance.