Quarterly report [Sections 13 or 15(d)]

Income Taxes

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Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company recorded income tax expense from continuing operations of $3.3 million for the six months ended June 30, 2026 compared to income tax benefit of $0.1 million for the six months ended June 30, 2025. The Company’s effective tax rates were 48.7% and 0.2% for the six months ended June 30, 2026 and 2025, respectively.

The effective tax rate for the six months ended June 30, 2026 differed from the statutory rate of 21% primarily due to changes in the valuation allowance and interest and penalties recognized during the period. The effective tax rate for the six months ended June 30, 2025 differed from the statutory rate of 21% primarily due to changes in the valuation allowance and interest and penalties recognized during the period.

On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted in the United States. The legislation made several changes to U.S. federal income tax law, including provisions allowing 100% bonus depreciation for certain qualifying depreciable property acquired and placed in service after January 19, 2025, and changes to the business interest expense limitation under Section 163(j) for tax years beginning after December 31, 2024. The Company considered the impact of these provisions to estimate its income tax provision for the six months ended June 30, 2026, including the expected impact on future cash taxes.