v3.20.4

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
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, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
United States |  | $ | (21,107 | ) |  | $ | (63,453 | ) |  | $ | (11,128 | )
Foreign |  |  | 2,655 |  |  |  | 2,534 |  |  |  | 1,795 |
Net loss before income taxes |  | $ | (18,452 | ) |  | $ | (60,919 | ) |  | $ | (9,333 | )
Schedule of Income Tax (Benefit) Expense | The income tax (benefit) expense consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (219 | ) |  | $ | (47 | ) |  | $ | — |
State |  |  | 620 |  |  |  | 244 |  |  |  | 114 |
Foreign |  |  | 743 |  |  |  | 108 |  |  |  | 184 |
|  |  | 1,144 |  |  |  | 305 |  |  |  | 298 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Foreign |  |  | (2,089 | ) |  |  | (1,287 | ) |  |  | (774 | )
Total |  | $ | (945 | ) |  | $ | (982 | ) |  | $ | (476 | )
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, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
U.S. federal income tax at statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
U.S. state and local income taxes |  |  | (3.2 | ) |  |  | (0.4 | ) |  |  | (1.3 | )
Change in valuation allowance |  |  | (698.4 | ) |  |  | (213.4 | ) |  |  | (1,039.4 | )
Federal research and development tax credit |  |  | 102.9 |  |  |  | 30.8 |  |  |  | 166.2 |
Stock-based compensation |  |  | 577.8 |  |  |  | 158.0 |  |  |  | 859.4 |
Meals and Entertainment |  |  | (1.6 | ) |  |  | (1.4 | ) |  |  | (6.6 | )
Permanent items |  |  | — |  |  |  | — |  |  |  | (1.1 | )
Foreign rate differential |  |  | — |  |  |  | (0.6 | ) |  |  | (1.5 | )
Acquisition costs |  |  | — |  |  |  | (1.3 | ) |  |  | — |
Section 162(m) limitation |  |  | (7.2 | ) |  |  | (1.4 | ) |  |  | — |
State apportionment change |  |  | 4.4 |  |  |  | 1.3 |  |  |  | — |
Tax rate change |  |  | — |  |  |  | (0.4 | ) |  |  | 2.4 |
Provision to return true-up |  |  | 9.4 |  |  |  | 9.9 |  |  |  | 5.9 |
Other |  |  | 0.1 |  |  |  | (0.5 | ) |  |  | 0.1 |
Effective tax rate |  |  | 5.2 | % |  |  | 1.6 | % |  |  | 5.1 | %
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, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 379,613 |  |  | $ | 263,512 |
Reserves and accruals |  |  | 14,131 |  |  |  | 10,425 |
Research and development credits |  |  | 104,110 |  |  |  | 73,442 |
Lease Obligation |  |  | 91,373 |  |  |  | 81,639 |
Stock-based compensation |  |  | 28,318 |  |  |  | 17,494 |
Total deferred tax assets |  |  | 617,545 |  |  |  | 446,512 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Right-of-use asset |  |  | (70,755 | ) |  |  | (72,243 | )
Depreciation and amortization |  |  | (11,707 | ) |  |  | (10,916 | )
Total deferred tax liabilities |  |  | (82,462 | ) |  |  | (83,159 | )
Valuation allowance |  |  | (530,887 | ) |  |  | (361,233 | )
Net deferred tax assets |  | $ | 4,196 |  |  | $ | 2,120 |
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, |
|  | 2020 |  |  | 2019 |
Unrecognized tax benefits at beginning of year |  | $ | 19,487 |  |  | $ | 14,541 |
Gross increase for tax positions of current year |  |  | 9,959 |  |  |  | 10,378 |
Gross decrease due to statue expiration |  |  | (75 | ) |  |  | (88 | )
Gross decrease for tax positions of prior years |  |  | (196 | ) |  |  | (5,344 | )
Unrecognized tax benefits balance at end of year |  | $ | 29,175 |  |  | $ | 19,487 |

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