Income taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income taxes

Income taxes

The Company’s effective tax rates for the three months ended June 30, 2022 and 2021 were 0.0% and 0.4%, respectively. The effective tax rate for the three months ended June 30, 2022 differs from the statutory rate primarily as a result of valuation allowances. The effective tax rate for the three months ended June 30, 2022 was impacted by $0.9 million of discrete income tax expense. The Company’s annual effective tax rates for the three months ended June 30, 2022 and 2021 were 1.4% and (0.5)%, respectively.

The Company’s effective tax rate for both the six months ended June 30, 2022 and 2021 was (0.3)%. The effective tax rate for the six months ended June 30, 2022 differs from the statutory rate primarily as a result of valuation allowances. The effective tax rate for the six months ended June 30, 2022 was impacted by $1.5 million of discrete income tax expense.