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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income (Loss) Before (Benefit From) Provision for Income Taxes | The components of income (loss) before provision for income taxes are:
(in thousands) | 2024 |  | 2023 |  | 2022
Domestic | $ | 51,966 |  |  | $ | 14,016 |  |  | $ | (185,820) |
Foreign | 90,670 |  |  | 81,424 |  |  | 24,023 |
| $ | 142,636 |  |  | $ | 95,440 |  |  | $ | (161,797) |
Schedule of Components of Provision for Income Taxes | The components of provision for income taxes are:
(in thousands) | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 22,941 |  |  | $ | 7,827 |  |  | $ | 3,920 |
State | 7,503 |  |  | 4,480 |  |  | 775 |
Foreign | 14,547 |  |  | 14,962 |  |  | 10,200 |
Total current provision | 44,991 |  |  | 27,269 |  |  | 14,895 |
Deferred: |  |  |  |  |
Federal | — |  |  | — |  |  | 149,028 |
State | — |  |  | — |  |  | 20,704 |
Foreign | (1,544) |  |  | 363 |  |  | (842) |
Total deferred (benefit) provision | (1,544) |  |  | 363 |  |  | 168,890 |
| $ | 43,447 |  |  | $ | 27,632 |  |  | $ | 183,785 |
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) | 2024 |  | 2023 |  | 2022
U.S. federal income taxes at statutory rates | $ | 29,954 |  |  | $ | 20,042 |  |  | $ | (33,977) |
Valuation allowance | (1,504) |  |  | (19,272) |  |  | 188,258 |
State income taxes, net of federal benefit and tax credits | 1,297 |  |  | 4,117 |  |  | (2,433) |
Permanent differences | 786 |  |  | 435 |  |  | 11,561 |
Federal research and experimentation credits | (4,888) |  |  | (3,709) |  |  | (5,012) |
Tax effects of foreign activities | (7,817) |  |  | 658 |  |  | 3,770 |
GILTI, FDII, and BEAT | 13,945 |  |  | 14,022 |  |  | 16,390 |
Provision to return adjustments | 121 |  |  | (3,728) |  |  | (6,317) |
Non-deductible compensation | 10,933 |  |  | 6,818 |  |  | 4,769 |
Tax Reserves | 5,917 |  |  | 1,850 |  |  | 5,673 |
Excess tax (benefits) / detriments related to share-based compensation | (5,645) |  |  | 4,666 |  |  | 1,563 |
Impact of change in tax law | — |  |  | 1,726 |  |  | (793) |
Other | 348 |  |  | 7 |  |  | 333 |
| $ | 43,447 |  |  | $ | 27,632 |  |  | $ | 183,785 |
Schedule of Components of Net Deferred Tax Assets and Liabilities | Significant components of net deferred tax assets and liabilities are:
| December 31,
(in thousands) | 2024 |  | 2023
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 72,089 |  |  | $ | 84,656 |
Accruals and reserves | 57,312 |  |  | 41,323 |
Software revenue | 454 |  |  | 3,186 |
Convertible senior notes | 355 |  |  | 2,645 |
Tax credit carryforwards | 10,441 |  |  | 28,456 |
Research and development capitalization | 75,289 |  |  | 58,866 |
Total deferred tax assets | 215,940 |  |  | 219,132 |
Valuation allowances | (195,252) |  |  | (196,901) |
Total net deferred tax assets | 20,688 |  |  | 22,231 |
Deferred tax liabilities: |  |  |
Capped call transactions | (57) |  |  | (223) |
Depreciation | (3,663) |  |  | (4,428) |
Intangibles | (9,116) |  |  | (11,979) |
Other, net | (3,554) |  |  | (2,782) |
Total deferred tax liabilities | (16,390) |  |  | (19,412) |
| $ | 4,298 |  |  | $ | 2,819 |
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) | 2024 |  | 2023 |  | 2022
Balance as of January 1, | $ | 30,655 |  |  | $ | 19,746 |  |  | $ | 17,584 |
Additions for tax positions related to the current year | 7,316 |  |  | 4,859 |  |  | 1,706 |
Additions for tax positions of prior years | 2,941 |  |  | 7,921 |  |  | 728 |
Reductions for tax positions of prior years | (3,026) |  |  | (1,871) |  |  | (272) |
Balance as of December 31, | $ | 37,886 |  |  | $ | 30,655 |  |  | $ | 19,746 |

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