Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

The Company’s income (loss) before income taxes includes amounts from both U.S. and foreign jurisdictions. The annual effective tax rate varies from the U.S. federal statutory rate of 21% due to results of foreign operations that are subject to income taxes at different statutory rates. In addition, tax expense is impacted by losses in jurisdictions where no tax benefit can be realized.

For the three months ended March 31, 2025 and 2024, the Company recorded a benefit for income taxes of $2.5 million and a provision for income taxes of $1.9 million, respectively.

As of March 31, 2025 and December 31, 2024, the Company’s unrecognized tax benefits, excluding interest and penalties, were $14.0 million and $13.9 million, respectively.