Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

10. Income taxes

The Company did not provide for any income taxes in its condensed consolidated statement of operations and comprehensive income (loss) for the three months ended March 31, 2025 and 2024. While the Company has net income for the three months ended March 31, 2025, the Company is projecting book and tax losses for the full year ended December 31, 2025, for which it is more likely than not that the Company will not realize a benefit. Based on its evaluation of the positive and negative evidence bearing upon its ability to realize its deferred tax assets, the Company determined that it is more likely than not that it will not realize such benefits. Accordingly, the Company has recorded a full valuation allowance against its deferred tax assets as of March 31, 2025 and December 31, 2024, and has not recorded any income taxes for the three months ended March 31, 2025 and 2024. Management reevaluates the positive and negative evidence at each reporting period.