Income Taxes |
9 Months Ended |
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Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 9. Income Taxes The Company’s effective income tax rate was (3.2%) and (3.9%) for the three months ended September 30, 2023 and 2022, respectively. The provision for (benefit from) income taxes was $796 and $(1,261) for the three months ended September 30, 2023 and 2022, respectively. The change in the provision for income taxes was primarily due to the period over period changes in the Company's valuation allowance against its deferred tax assets, the impact of changes in the Company's forecasted profitability and the jurisdictional mix of earnings. The Company’s effective income tax rate was (2.0%) and 6.7% for the nine months ended September 30, 2023 and 2022, respectively. The provision for income taxes was $2,104 and $5,071 for the nine months ended September 30, 2023 and 2022, respectively. The change in the provision for income taxes was primarily due to the period over period changes in the Company's valuation allowance against its deferred tax assets, the impact of changes in the Company's forecasted profitability and the jurisdictional mix of earnings. The provision for income taxes for the three and nine months ended September 30, 2023 and 2022, respectively, differed from the federal statutory rate primarily due to the geographical mix of earnings and related foreign tax rate differential, permanent differences, research and development credits, foreign tax credits, and the valuation allowance maintained against the Company's deferred tax assets and withholding taxes. |