v3.19.3.a.u2

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Loss Before Income Taxes | The components of loss before income taxes consist of the following (in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
United States |  | $ | (63,453 | ) |  | $ | (11,128 | ) |  | $ | (63,831 | )
Foreign |  |  | 2,534 |  |  |  | 1,795 |  |  |  | 637 |
Net loss before income taxes |  | $ | (60,919 | ) |  | $ | (9,333 | ) |  | $ | (63,194 | )
Schedule of Income Tax (Benefit) Expense | The income tax (benefit) expense consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (47 | ) |  | $ | — |  |  | $ | — |
State |  |  | 244 |  |  |  | 114 |  |  |  | 89 |
Foreign |  |  | 108 |  |  |  | 184 |  |  |  | 674 |
|  |  | 305 |  |  |  | 298 |  |  |  | 763 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Foreign |  |  | (1,287 | ) |  |  | (774 | ) |  |  | (448 | )
Total |  | $ | (982 | ) |  | $ | (476 | ) |  | $ | 315 |
Schedule of Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate | The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate:
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
U.S. federal income tax at statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 34.0 | %
U.S. state and local income taxes |  |  | (0.4 | ) |  |  | (1.3 | ) |  |  | (0.2 | )
Change in valuation allowance |  |  | (213.4 | ) |  |  | (1,039.4 | ) |  |  | 19.0 |
Federal research and development tax credit |  |  | 30.8 |  |  |  | 166.2 |  |  |  | 5.2 |
Convertible preferred stock warrants |  |  | — |  |  |  | — |  |  |  | (21.7 | )
Stock-based compensation |  |  | 158.0 |  |  |  | 859.4 |  |  |  | 1.2 |
Meals and Entertainment |  |  | (1.4 | ) |  |  | (6.6 | ) |  |  | (1.1 | )
Permanent items |  |  | — |  |  |  | (1.1 | ) |  |  | — |
Foreign rate differential |  |  | (0.6 | ) |  |  | (1.5 | ) |  |  | 0.2 |
Acquisition costs |  |  | (1.3 | ) |  |  | — |  |  |  | — |
Section 162(m) limitation |  |  | (1.4 | ) |  |  | — |  |  |  | — |
State apportionment change |  |  | 1.3 |  |  |  | — |  |  |  | — |
Tax rate change |  |  | (0.4 | ) |  |  | 2.4 |  |  |  | (36.4 | )
Provision to return true-up |  |  | 9.9 |  |  |  | 5.9 |  |  |  | — |
Other |  |  | (0.5 | ) |  |  | 0.1 |  |  |  | (0.7 | )
Effective tax rate |  |  | 1.6 | % |  |  | 5.1 | % |  |  | (0.5 | )%
Summary of Significant Components of Deferred Income Tax Assets and Liabilities | Significant components of the Company’s deferred income tax assets and liabilities consist of the following (in thousands):
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 263,512 |  |  | $ | 128,829 |
Reserves and accruals |  |  | 10,425 |  |  |  | 7,840 |
Research and development credits |  |  | 73,442 |  |  |  | 39,344 |
Lease Obligation |  |  | 81,639 |  |  |  | — |
Stock-based compensation |  |  | 17,494 |  |  |  | 7,529 |
Total deferred tax assets |  |  | 446,512 |  |  |  | 183,542 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Right-of-use asset |  |  | (72,243 | ) |  |  | — |
Depreciation and amortization |  |  | (10,916 | ) |  |  | (343 | )
Total deferred tax liabilities |  |  | (83,159 | ) |  |  | (343 | )
Valuation allowance |  |  | (361,233 | ) |  |  | (182,360 | )
Net deferred tax assets |  | $ | 2,120 |  |  | $ | 839 |
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
Unrecognized tax benefits at beginning of year |  | $ | 14,541 |  |  | $ | 5,843 |
Gross increase for tax positions of current year |  |  | 10,378 |  |  |  | 7,053 |
Gross decrease due to statue expiration |  |  | (88 | ) |  |  | — |
Gross increase for tax positions of prior years |  |  | — |  |  |  | 1,645 |
Gross decrease for tax positions of prior years |  |  | (5,344 | ) |  |  | — |
Unrecognized tax benefits balance at end of year |  | $ | 19,487 |  |  | $ | 14,541 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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