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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income (Loss) Before Provision for (Benefit From) Income Taxes | The components of income (loss) before provision for (benefit from) income taxes are:
(in thousands) | 2023 |  | 2022 |  | 2021
Domestic | $ | 14,016 |  |  | $ | (185,820) |  |  | $ | (125,947) |
Foreign | 81,424 |  |  | 24,023 |  |  | (6,040) |
| $ | 95,440 |  |  | $ | (161,797) |  |  | $ | (131,987) |
Schedule of Components of Provision for (Benefit From) Income Taxes | The components of provision for (benefit from) income taxes are:
(in thousands) | 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 7,827 |  |  | $ | 3,920 |  |  | $ | 1,921 |
State | 4,480 |  |  | 775 |  |  | 363 |
Foreign | 14,962 |  |  | 10,200 |  |  | 4,105 |
Total current provision | 27,269 |  |  | 14,895 |  |  | 6,389 |
Deferred: |  |  |  |  |
Federal | — |  |  | 149,028 |  |  | (42,214) |
State | — |  |  | 20,704 |  |  | (9,413) |
Foreign | 363 |  |  | (842) |  |  | (23,709) |
Total deferred provision (benefit) | 363 |  |  | 168,890 |  |  | (75,336) |
| $ | 27,632 |  |  | $ | 183,785 |  |  | $ | (68,947) |
Schedule of Reconciliation of Effective Income Tax Rate From Statutory Federal Income Tax Rate | A reconciliation of the U.S federal statutory tax rate and the Company’s effective tax rate:
(in thousands) | 2023 |  | 2022 |  | 2021
U.S. federal income taxes at statutory rates | $ | 20,042 |  |  | $ | (33,977) |  |  | $ | (27,717) |
Valuation allowance | (19,272) |  |  | 188,258 |  |  | (469) |
State income taxes, net of federal benefit and tax credits | 4,117 |  |  | (2,433) |  |  | (7,217) |
Permanent differences | 435 |  |  | 11,561 |  |  | 541 |
Federal research and experimentation credits | (3,709) |  |  | (5,012) |  |  | (6,380) |
Tax effects of foreign activities | 658 |  |  | 3,770 |  |  | 3,599 |
GILTI, FDII, and BEAT | 14,022 |  |  | 16,390 |  |  | — |
Provision to return adjustments | (3,728) |  |  | (6,317) |  |  | (2,016) |
Non-deductible compensation | 6,818 |  |  | 4,769 |  |  | 5,464 |
Tax Reserves | 1,850 |  |  | 5,673 |  |  | (2,250) |
Excess tax detriments / (benefits) related to share-based compensation | 4,666 |  |  | 1,563 |  |  | (20,697) |
Impact of change in tax law | 1,726 |  |  | (793) |  |  | (11,811) |
Other | 7 |  |  | 333 |  |  | 6 |
| $ | 27,632 |  |  | $ | 183,785 |  |  | $ | (68,947) |
Schedule of Components of Net Deferred Tax Assets and Liabilities | Significant components of net deferred tax assets and liabilities are:
| December 31,
(in thousands) | 2023 |  | 2022
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 84,656 |  |  | $ | 109,286 |
Accruals and reserves | 41,323 |  |  | 32,467 |
Interest expense carryforward | — |  |  | 208 |
Software revenue | 3,186 |  |  | 1,828 |
Convertible senior notes | 2,645 |  |  | 5,794 |
Depreciation | — |  |  | 3,698 |
Tax credit carryforwards | 28,456 |  |  | 39,122 |
Research and development capitalization | 58,866 |  |  | 38,425 |
Other | — |  |  | 622 |
Total deferred tax assets | 219,132 |  |  | 231,450 |
Valuation allowances | (196,901) |  |  | (212,808) |
Total net deferred tax assets | 22,231 |  |  | 18,642 |
Deferred tax liabilities: |  |  |
Capped call transactions | (223) |  |  | (644) |
Depreciation | (4,428) |  |  | — |
Intangibles | (11,979) |  |  | (14,280) |
Other, net | (2,782) |  |  | — |
Total deferred tax liabilities | (19,412) |  |  | (14,924) |
| $ | 2,819 |  |  | $ | 3,718 |
Schedule of Operating Loss Carryforwards | As of December 31, 2023, the Company’s U.S. net operating losses and credit carryforwards are:
(in thousands) | Federal |  | State
Net operating losses (1) | $ | 20,624 |  |  | $ | 8,766 |
Net operating losses due to acquisitions (1) | $ | 20,624 |  |  | $ | 2,195 |
Credit carryforwards (2) | $ | 26,464 |  |  | $ | 3,435 |
Credit carryforwards due to acquisitions | $ | 640 |  |  | $ | 60 |
(1) Excludes federal and state net operating losses of $16.1 million and $0.8 million, respectively, from prior acquisitions that the Company expects will expire unutilized. (2) Excludes federal and state tax credits of $0.1 million and $10.7 million, respectively, that the Company expects will expire unutilized.
Schedule of Credit Carryforwards | As of December 31, 2023, the Company’s U.S. net operating losses and credit carryforwards are:
(in thousands) | Federal |  | State
Net operating losses (1) | $ | 20,624 |  |  | $ | 8,766 |
Net operating losses due to acquisitions (1) | $ | 20,624 |  |  | $ | 2,195 |
Credit carryforwards (2) | $ | 26,464 |  |  | $ | 3,435 |
Credit carryforwards due to acquisitions | $ | 640 |  |  | $ | 60 |
(1) Excludes federal and state net operating losses of $16.1 million and $0.8 million, respectively, from prior acquisitions that the Company expects will expire unutilized. (2) Excludes federal and state tax credits of $0.1 million and $10.7 million, respectively, that the Company expects will expire unutilized.
Schedule of Reconciliation of Beginning and Ending Balances of Gross Unrecognized Tax Benefits | A rollforward of the Company’s gross unrecognized tax benefits is:
(in thousands) | 2023 |  | 2022 |  | 2021
Balance as of January 1, | $ | 19,746 |  |  | $ | 17,584 |  |  | $ | 23,801 |
Additions for tax positions related to the current year | 4,859 |  |  | 1,706 |  |  | 653 |
Additions for tax positions of prior years | 7,921 |  |  | 728 |  |  | — |
Reductions for tax positions of prior years | (1,871) |  |  | (272) |  |  | (6,870) |
Balance as of December 31, | $ | 30,655 |  |  | $ | 19,746 |  |  | $ | 17,584 |

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