Income Taxes

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Income tax provision for the three months ended June 30, 2023 was approximately $0.3 million on pre-tax loss of $24.5 million. Income tax provision for the six months ended June 30, 2023 was approximately $1.5 million on pre-tax loss of $47.1 million. Income tax provision for the three months ended June 30, 2022 was approximately $1.9 million on pre-tax loss of $10.6 million. Income tax provision for the six months ended June 30, 2022 was approximately $3.7 million on pre-tax loss of $16.4 million.

As of June 30, 2023, the income tax rate varied from the United States statutory income tax rate primarily due to valuation allowances in North America, EMEA and Asia, mandatory R&D expense capitalization in the U.S., and foreign and state income tax rate differentials. Consistent with the prior periods, the Company continued to maintain valuation allowances in North America, EMEA and Asia.