Company: PCRX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050176
Chunk: 84

Company: Pacira BioSciences, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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 2025 Notes972 2,821 2,205 4,184 Weighted average number of RSUs1,531 2,637 1,831 1,935 Weighted average ESPP share options— 47 — 51       Total8,991 12,430 10,609 13,475 

NOTE 14—INCOME TAXES

Income (loss) before income taxes and income tax expense are as follows (dollar amounts in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Income (loss) before income taxes:   Domestic$10,497 $(140,309)$16,956 $(89,656)   Foreign(973)1,453 (653)1,024 Total income (loss) before income taxes$9,524 $(138,856)$16,303 $(88,632)Income tax expense$4,092 $4,610 $10,906 $26,969 Effective tax rate43 %(3)%67 %(30)%The Company’s income tax expense represents the estimated annual effective tax rate applied to the year-to-date operating results, adjusted for certain discrete tax items.The Company’s effective tax rate for the three and nine months ended September 30, 2025 was primarily impacted by costs related to non-deductible stock-based compensation, non-deductible executive compensation and a non-U.S. valuation allowance, partially offset by tax credits.The Company’s effective tax rate for the three and nine months ended September 30, 2024 was primarily impacted by non-deductible goodwill impairment charges. The Company’s effective tax rate for the nine months ended September 30, 2024 was additionally impacted by costs related to non-deductible stock-based compensation, mainly related to expired stock options.As of both September 30, 2025 and December 31, 2024, the Company had an income tax payable balance of $5.1 million that was included in other liabilities within the condensed consolidated balance sheet. As of September 30, 2025 and December 31, 2024, the Company had $0.6 million and $0.7 million, respectively, of current income taxes payable that is included in accrued expenses within the condensed consolidated balance sheet. U.S. Tax ReformIn July 2025, federal legislation known as the One Big Beautiful