Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

12. Income Taxes

The Company's effective income tax rates were (63.2)% and 24.1% for the three months ended June 30, 2022 and 2021, respectively. The Company's effective income tax rates were (26.0)% and 14.9% for the six months ended June 30, 2022 and 2021, respectively. The effective tax rate for the three and six months ended June 30, 2022 was lower than the statutory rate of 21.0% primarily due to excess benefits from stock-based compensation. The effective tax rate for the three months ended June 30, 2021 was higher than the statutory rate of 21.0% due to the impact of state income taxes and permanent adjustments. The effective tax rate for the six months ended June 30, 2021 was lower than the statutory rate of 21.0% due to the impact of state income taxes, as well as permanent adjustments and excess benefits from stock-based compensation.