Income Taxes (Tables)

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

	Three Months Ended
	March 31, 2023		March 31, 2022
	(in thousands)
Current	$	5,435	$	3,809
Deferred	921		973
Income tax provision	$	6,356	$	4,782

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the Federal statutory income tax rate to the effective income tax rate is as follows:

	Three Months Ended
	March 31, 2023		March 31, 2022
Federal statutory rate	21.0	%	21.0	%
State income taxes, net of Federal benefit	4.0	%	3.0	%
Excess tax benefits related to share-based compensation (Note 12)	(8.8)	%	(2.2)	%
Return to provision	(0.3)	%	—	%
Research and development credits	(1.5)	%	(0.8)	%
Other	0.3	%	(0.1)	%
Effective tax rate	14.7	%	20.9	%