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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of domestic and foreign components of loss before income taxes | The following table presents domestic and foreign components of income (loss) before provision for income taxes for the periods presented:
|  | Year Ended December 31,
| 2025 |  | 2024 |  | 2023
|  | (In thousands)
United States |  | $ | 150,891 |  |  | $ | 40,982 |  |  | $ | (816,089) |
International |  | (95,797) |  |  | (129,595) |  |  | (180,640) |
Income (loss) before provision for income taxes |  | $ | 55,094 |  |  | $ | (88,613) |  |  | $ | (996,729) |
Schedule of provision for income taxes | Provision for income taxes consists of the following:
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
Current: |  | (In thousands)
Federal |  | $ | 341 |  |  | $ | 5,617 |  |  | $ | 2,567 |
State |  | 1,515 |  |  | 2,305 |  |  | 1,533 |
Foreign |  | 20,692 |  |  | 14,850 |  |  | 31,354 |
Total |  | 22,548 |  |  | 22,772 |  |  | 35,454 |
Deferred: |  |  |  |  |  |
Federal |  | 95 |  |  | 196 |  |  | (1,337) |
State |  | (27) |  |  | 149 |  |  | (208) |
Foreign |  | (1,356) |  |  | (2,327) |  |  | (15,197) |
Total |  | (1,288) |  |  | (1,982) |  |  | (16,742) |
Provision for income taxes |  | $ | 21,260 |  |  | $ | 20,790 |  |  | $ | 18,712 |
Schedule of reconciliation of the U.S. federal statutory income tax rate to our effective tax rate | A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate for the year ended December 31, 2025, pursuant to the disclosure requirements of ASU 2023-09, is as follows:
|  | Year Ended December 31, 2025
|  | Amount (in thousands) |  | Percent |  |
Tax at federal statutory rate |  | $ | 11,570 |  |  | 21 | % |  |
Federal: |  |  |  |  |  |
Effect of cross-border tax laws: |  |  |  |  |  |
Foreign income taxed in the United States, net of foreign tax deductions |  | (1,440) |  |  | (3) |  |  |
Withholding taxes |  | 157 |  |  | — |  |  |
Tax Credits: |  |  |  |  |  |
Research and development tax credits |  | (40,879) |  |  | (74) |  |  |
Changes in valuation allowance |  | 36,651 |  |  | 67 |  |  |
Nontaxable or nondeductible items: |  |  |  |  |  |
Excess benefit on share-based payment awards |  | (41,493) |  |  | (75) |  |  |
Other share-based payment award related items |  | 14,216 |  |  | 26 |  |  |
Other |  | 1,651 |  |  | 3 |  |  |
Other adjustments |  | 264 |  |  | 1 |  |  |
State and local taxes, net of federal income tax effect (1) |  | 1,080 |  |  | 2 |  |  |
Foreign tax effects: |  |  |  |  |  |
Ireland: |  |  |  |  |  |
Statutory tax rate difference between Ireland and United States |  | 9,473 |  |  | 17 |  |  |
Changes in valuation allowance |  | 9,720 |  |  | 18 |  |  |
Foreign exchange gains/losses |  | 7,394 |  |  | 13 |  |  |
Other |  | (580) |  |  | (1) |  |  |
Brazil: |  |  |  |  |  |
Withholding taxes |  | 7,758 |  |  | 14 |  |  |
Other |  | 1,213 |  |  | 2 |  |  |
Other foreign jurisdictions (2) |  | 6,118 |  |  | 11 |  |  |
Worldwide changes in unrecognized tax benefits (gross) |  | (1,613) |  |  | (3) |  |  |
Effective tax rate |  | $ | 21,260 |  |  | 39 | % |  |
____________________________________ (1) State taxes in North Carolina and Texas made up the majority (greater than 50 percent) of the tax effect in this category. (2) Other foreign jurisdictions is comprised of $2.6 million related to India. The remaining foreign jurisdictions are not significant. A reconciliation of the U.S. federal statutory income tax rates to the Company’s effective tax rate for the years ended December 31, 2024 and 2023, pursuant to previous disclosure requirements, is as follows:
|  |  |  | Year Ended December 31,
|  |  |  | 2024 |  | 2023
Tax at federal statutory rate |  |  |  | 21 | % |  | 21 | %
State tax, net of federal benefit |  |  |  | 1 |  |  | 3 |
Stock-based compensation |  |  |  | (40) |  |  | (7) |
Credits |  |  |  | 20 |  |  | 2 |
Foreign rate differential |  |  |  | (67) |  |  | 1 |
Permanent book vs. tax differences |  |  |  | 8 |  |  | — |
Change in valuation allowance |  |  |  | 32 |  |  | (23) |
Other |  |  |  | 2 |  |  | 1 |
Effective tax rate |  |  |  | (23) | % |  | (2) | %
Schedule of cash paid for income taxes, net of refunds | Cash paid for income taxes, net of refunds, by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:
|  | Year Ended December 31, 2025
|  | (In thousands)
U.S. federal taxes |  | $ | 3,157 |
U.S. state taxes |  | 3,973 |
Non-U.S. taxes |  | 10,581 |
Total income taxes paid, net |  | $ | 17,711 |
Income taxes paid exceeds 5% of total income taxes paid, net of refunds, in the following jurisdictions:
|  | Year Ended December 31, 2025
|  | (In thousands)
U.S. State |  |
California |  | $ | 1,723 |
Non-U.S. |  |
Brazil |  | $ | 2,446 |
Colombia |  | $ | 1,879 |
Japan |  | $ | 1,678 |
India |  | $ | 3,706 |
Schedule of deferred tax assets and liabilities | The following table presents the significant components of the Company's deferred tax assets and liabilities:
|  | As of December 31,
| 2025 |  | 2024 |  |
Deferred tax assets: |  | (In thousands)
Net operating loss carryforwards |  | $ | 818,284 |  |  | $ | 810,278 |  |  |
Accruals and reserves |  | 80,185 |  |  | 73,535 |  |  |
Stock-based compensation |  | 31,673 |  |  | 28,238 |  |  |
Research and development credits |  | 237,447 |  |  | 175,746 |  |  |
Intangibles |  | 135,500 |  |  | 135,500 |  |  |
Capitalized research and development expenses |  | 230,302 |  |  | 299,061 |  |  |
Lease liability |  | 21,499 |  |  | 30,697 |  |  |
Investments and other basis differences |  | 126,369 |  |  | 81,248 |  |  |
Other |  | 8,992 |  |  | 18,139 |  |  |
Gross deferred tax assets |  | 1,690,251 |  |  | 1,652,442 |  |  |
Valuation allowance |  | (1,554,727) |  |  | (1,488,328) |  |  |
Net deferred tax assets |  | 135,524 |  |  | 164,114 |  |  |
Deferred tax liabilities: |  |  |  |  |  |
Capitalized software |  | (39,022) |  |  | (38,394) |  |  |
Prepaid expenses |  | (863) |  |  | (900) |  |  |
Acquired intangibles |  | (32,633) |  |  | (55,283) |  |  |
Right-of-use asset |  | (8,913) |  |  | (13,112) |  |  |
Deferred commissions |  | (37,173) |  |  | (42,313) |  |  |
Net deferred tax asset |  | $ | 16,920 |  |  | $ | 14,112 |  |  |
Schedule of operating loss carryforwards | The following table summarizes the Company’s tax carryforwards, carryovers and credits:
|  | As of December 31, 2025 |  | Expiration Date (If not utilized)
|  | (In thousands) |  |
Federal tax credits |  | $ | 205,987 |  |  | Various dates beginning in 2038
Federal net operating loss carryforwards |  | $ | 2,866,460 |  |  | Indefinite
State net operating loss carryforwards |  | $ | 2,400,985 |  |  | Various dates beginning in 2026
State tax credits |  | $ | 155,404 |  |  | Various dates beginning in 2029
Foreign net operating loss carryforwards |  | $ | 965,615 |  |  | Indefinite
Schedule of tax credit carryforwards | The following table summarizes the Company’s tax carryforwards, carryovers and credits:
|  | As of December 31, 2025 |  | Expiration Date (If not utilized)
|  | (In thousands) |  |
Federal tax credits |  | $ | 205,987 |  |  | Various dates beginning in 2038
Federal net operating loss carryforwards |  | $ | 2,866,460 |  |  | Indefinite
State net operating loss carryforwards |  | $ | 2,400,985 |  |  | Various dates beginning in 2026
State tax credits |  | $ | 155,404 |  |  | Various dates beginning in 2029
Foreign net operating loss carryforwards |  | $ | 965,615 |  |  | Indefinite
Schedule of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | Year Ended December 31,
|  | 2025 |  | 2024 |  | 2023
|  | (In thousands)
Unrecognized tax benefit, beginning of year |  | $ | 252,208 |  |  | $ | 233,778 |  |  | $ | 228,966 |
Gross increases for tax positions of prior years |  | 6,647 |  |  | 7,476 |  |  | 3,427 |
Gross decreases for tax positions of prior years |  | (1,085) |  |  | (198) |  |  | (5,130) |
Gross increases for tax positions of current year |  | 24,889 |  |  | 13,253 |  |  | 7,754 |
Gross decreases for tax positions of current year |  | (168) |  |  | — |  |  | — |
Lapse of statute of limitations |  | (1,795) |  |  | (2,101) |  |  | (1,239) |
Unrecognized tax benefit, end of year |  | $ | 280,696 |  |  | $ | 252,208 |  |  | $ | 233,778 |

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