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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Summary of Loss Before Provision (Benefit) for Income Taxes | Income (loss) before income tax (benefit) provision for the years ended December 31, 2025, 2024 and 2023 consists of the following:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
United States | $ | (29,355) |  |  | $ | (586,004) |  |  | $ | (753,105) |
Foreign | 36,368 |  |  | (7,154) |  |  | (38,148) |
Income (loss) before income tax (benefit) provision | $ | 7,013 |  |  | $ | (593,158) |  |  | $ | (791,253) |
Summary of Components of the Provision (Benefit) for Income Taxes | The components of the income tax (benefit) provision consists of the following:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | 10 |  |  | $ | — |
State | 2,251 |  |  | 607 |  |  | 433 |
Foreign | 20,248 |  |  | 5,775 |  |  | 3,888 |
Total current provision | 22,499 |  |  | 6,392 |  |  | 4,321 |
Deferred: |  |  |  |  |
Federal | (13,946) |  |  | (64,196) |  |  | 205 |
State | (3,682) |  |  | (29,022) |  |  | 2,643 |
Foreign | (597) |  |  | 485 |  |  | 3,001 |
Total deferred (benefit) provision | (18,225) |  |  | (92,733) |  |  | 5,849 |
Total income tax (benefit) provision | $ | 4,274 |  |  | $ | (86,341) |  |  | $ | 10,170 |
Summary of Reconciliation | The reconciliation between income taxes computed at the U.S. statutory income tax rate to our (benefit) provision for income taxes for the years ended December 31, 2025, 2024 and 2023 is as follows:
| Year ended December 31, 2025
| $ |  | %
U.S. Federal Statutory Tax Rate | 1,473 |  |  | 21.0 | %
State and Local Income Taxes (1) | 53 |  |  | 0.8 | %
Effect of Cross-Border Tax Laws | 991 |  |  | 14.1 | %
Tax Credits |  |  |
R&D Credit Generation | (31,275) |  |  | (446.0) | %
Changes in Valuation Allowance | 50,856 |  |  | 725.2 | %
Nontaxable or Nondeductible Items |  |  |
Stock based compensation (benefit) expense | (121,405) |  |  | (1731.1) | %
Non-deductible executive compensation | 81,305 |  |  | 1159.3 | %
Non-deductible lobbying expenses | 6,831 |  |  | 97.4 | %
Mark-to-market earn-out gain | (7,957) |  |  | (113.5) | %
Other | 9,327 |  |  | 133.0 | %
Other Adjustments | 1,021 |  |  | 14.6 | %
Other Foreign Jurisdictions | (2,187) |  |  | (31.2) | %
Changes in Unrecognized Tax Benefits | 15,241 |  |  | 217.3 | %
Income Tax Expense | $ | 4,274 |  |  | 61.0 | %
(1) State taxes attributable to New Jersey, New York State, New York City, and Michigan made up the majority (greater than 50 percent) of the tax effect in this category.
| Years Ended December 31,
| 2024 |  | 2023
Benefit for income taxes at 21% rate | $ | (124,563) |  |  | $ | (166,217) |
State taxes, net of federal benefit | (9,752) |  |  | (40,385) |
Stock-based compensation (benefit) expense | (882) |  |  | 26,155 |
Non-deductible lobbying expenses | 6,924 |  |  | 1,009 |
Change in valuation allowance | 18,307 |  |  | 130,817 |
Non-deductible executive compensation | 18,275 |  |  | 30,106 |
Loss (gain) on remeasurement of warrant liabilities | 1,270 |  |  | 12,084 |
Foreign rate differential | 1,003 |  |  | 3,348 |
Income tax reserves | 3,848 |  |  | 4,119 |
Other | (771) |  |  | 9,134 |
Total income tax (benefit) provision | $ | (86,341) |  |  | $ | 10,170 |
Summary of Components of Deferred Tax Assets (Liabilities) | Significant components of the Company’s deferred tax assets (liabilities) as of December 31, 2025 and 2024 are as follows:
| Year Ended December 31,
| 2025 |  | 2024
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 1,190,449 |  |  | $ | 1,100,214 |
R&D credit carryforwards | 38,992 |  |  | 15 |
Intangible assets | 13,867 |  |  | 13,770 |
Accrual and other temporary differences | 64,877 |  |  | 78,535 |
Operating lease | 16,096 |  |  | 22,239 |
Stock-based compensation | 41,516 |  |  | 60,754 |
Capitalized research and development costs | 174,642 |  |  | 199,663 |
Fixed assets | 3,698 |  |  | 3,710 |
Gross deferred tax assets | 1,544,137 |  |  | 1,478,900 |
Valuation allowance | (1,528,391) |  |  | (1,453,715) |
Net deferred tax assets | $ | 15,746 |  |  | $ | 25,185 |
Deferred tax liabilities: |  |  |
Fixed assets | $ | (139) |  |  | $ | (108) |
Intangible assets | (5,219) |  |  | (6,532) |
Operating lease | (15,185) |  |  | (21,472) |
Other | (2,658) |  |  | (4,041) |
Gross deferred tax liabilities | (23,201) |  |  | (32,153) |
Total net deferred tax liabilities | $ | (7,455) |  |  | $ | (6,968) |
Schedule of Unrecognized Tax Benefits Roll Forward |
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Unrecognized tax benefits at the beginning of the year | $ | 56,030 |  |  | $ | 57,424 |  |  | $ | 58,011 |
Additions for tax positions of prior years | — |  |  | — |  |  | 1,026 |
Reduction for tax positions of prior years | (1,082) |  |  | (1,395) |  |  | (269) |
Additions for tax positions of current year | 16,711 |  |  | 377 |  |  | 449 |
Settlements | — |  |  | — |  |  | — |
Foreign currency adjustments | 11,235 |  |  | (376) |  |  | (1,793) |
Unrecognized tax benefits at the end of the year | $ | 82,894 |  |  | $ | 56,030 |  |  | $ | 57,424 |
Schedule of Income Taxes Paid | A reconciliation of income taxes paid (refunded) by jurisdictions is as follows:
| Year Ended December 31,
| 2025
US Federal | $ | 617 |
US State |
Pennsylvania | 1,974 |
Illinois | 1,541 |
New York | 467 |
Other States | 2,490 |
Foreign |
Canada | 2,202 |
Israel | (1,868) |
Other Foreign Jurisdictions | 813 |
Total | $ | 8,236 |

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