INCOME TAXES

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The tax provision for interim periods is determined using an estimate of the Company's annual effective tax rate, adjusted for discrete items arising during interim periods.

For the three months ended March 31, 2026 and 2025, the Company's effective tax rate was 2.4% and 105.5%, respectively. The Company’s effective tax rate ended March 31, 2026 differed from the U.S. statutory tax rate primarily due to a tax benefit related to stock-based compensation, partially offset by limitations on the deductibility of officer compensation. The Company's effective tax rate for three months ended March 31, 2025 differed from the U.S. statutory tax rate primarily due to state taxes and limitations on the deductibility of officer compensation.

For the three months ended March 31, 2026 and 2025, the Company recorded income tax expense of $0.2 million and $2.0 million, respectively.