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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Set forth below is a reconciliation of the components that caused our (benefit from) provision for income taxes to differ from amounts computed by applying the United States federal statutory rate:

			Year Ended December 31,
			2024						2023						2022
U.S. federal statutory income tax rate			21		%				21		%				21		%
State and local income taxes, net of federal benefit			(2)						(44)						9
Change in valuation allowance			(37)						215						(37)
Stock-based compensation expense			(13)						(108)						7
Federal research and development tax credits			(10)						(93)						5
Non-deductible officers' compensation			5						79						(6)
Other permanent differences			—						(4)						(1)
(Benefit from) provision for income taxes			(36)		%				66		%				(2)		%

Schedule of (Benefit From) Provision for Income Tax

The (benefit from) provision for income tax consists of the following (in thousands):

			Year Ended December 31,
			2024						2023						2022
Current
Federal			$	26,452					$	3,485					$	1,313
State and local			6,280						2,299						686
Foreign			30						—						—
Total current			32,762						5,784						1,999
Deferred
Federal			(46,578)						(477)						(854)
State and local			(39,930)						(12)						257
Total deferred			(86,508)						(489)						(597)
Total (benefit from) provision for income taxes			$	(53,746)					$	5,295					$	1,402

Schedule of Components of Deferred Tax Assets (Liabilities)

The components of deferred tax assets (liabilities) were as follows (in thousands):

			December 31,
			2024						2023
Deferred income tax assets:
Net operating loss carryforwards			$	9,201					$	6,502
Research and development tax credits			24,326						19,513
Capitalized research and software costs			66,090						33,958
Stock-based compensation			413						2,894
Lease liability			11,139						11,914
Other			1,495						3,384
Total deferred tax assets			112,664						78,165
Valuation allowance			—						(62,380)
Deferred tax assets, net of valuation allowance			$	112,664					$	15,785
Deferred tax liabilities:
Property and equipment			$	(3,351)					$	(4,189)
Intangible assets			(15,387)						(2,921)
Capitalized commissions			(4,463)						(4,237)
State taxes			(7,749)						—
Lease asset			(4,695)						(5,135)
Other			(109)						—
Total deferred tax liabilities			(35,754)						(16,482)
Total net deferred tax liabilities			$	76,910					$	(697)

Schedule of Change in the Valuation Allowance

The change in the valuation allowance are as follows (in thousands):

			Year Ended December 31,
			2024						2023						2022
Valuation allowance, at beginning of year			$	62,380					$	43,776					$	17,217
Increase in valuation allowance			—						18,604						26,559
Decrease in valuation allowance			(62,380)						—						—
Valuation allowance, at end of year			$	—					$	62,380					$	43,776

Schedule of Unrecognized Tax Benefits from Uncertain Tax Positions

The following is a reconciliation of the total amounts of reserves for unrecognized tax benefits from uncertain tax positions (in thousands):

			Year Ended December 31,
			2024						2023						2022
Unrecognized tax benefit beginning of year			$	12,315					$	9,455					$	7,816
Increases-tax positions in prior year			1,203						—						—
Increases-tax positions in current year			3,732						2,860						1,639
Statute of limitation expiration			$	(2,315)					$	—					$	—
Unrecognized tax benefit end of year			$	14,935					$	12,315					$	9,455

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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.

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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.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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