Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXESThe Company recorded an income tax expense of $7.8 million and $1.3 million for the three months ended March 31, 2022 and 2021, respectively. Our effective tax rate was (45.1)% for the three months ended March 31, 2022 compared to 18.5% for the three months ended March 31, 2021. The effective rate of (45.1)% differs from the federal statutory rate of 21% primarily due to the jurisdictional mix of earnings at differing tax rates, research and development tax credits, non-deductible stock compensation, and the effect of a valuation allowance on certain federal deferred tax assets.