Quarterly report pursuant to Section 13 or 15(d)

Income taxes

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Income taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income taxes

Note 16 – Income taxes

 

For the three and nine months ended September 30, 2024 and 2023, the Company recorded an income tax provision of less than $0.01 million. For the three and nine months ended September 30, 2024 and 2023, the Company’s effective tax rate was less than 1%, respectively. The Company’s effective tax rate differs from the U.S. federal statutory rate of 21% primarily because the Company’s net operating losses (“NOLs”) included in deferred tax assets have been fully offset by a valuation allowance due to uncertainty of realizing the tax benefit of NOLs for the three and nine months ended September 30, 2024 and September 30, 2023.