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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The domestic and foreign components of loss before income taxes are as follows (in thousands):

			Year Ended December 31,
			2025						2024						2023
United States			$	(42,129)					$	(54,059)					$	(312,759)
Foreign			11,611						10,379						5,718
Loss before income taxes			$	(30,518)					$	(43,680)					$	(307,041)

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes contained the following components (in thousands):

			Year Ended December 31,
			2025						2024						2023
Current:
Federal			$	(277)					$	750					$	—
State			237						211						(26)
Foreign			4,352						942						4,652
			4,312						1,903						4,626
Deferred:
Federal			(141)						—						—
State			(47)						—						—
Foreign			(2,874)						559						(3,434)
			(3,062)						559						(3,434)
Provision for income taxes			$	1,250					$	2,462					$	1,192

Schedule of Effective Income Tax Rate Reconciliation

Below is a tabular reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 (in thousands, except percentages):

			Year Ended December 31, 2025
						Amount ($)						Percent
U.S. federal taxes at statutory rate						$	(6,412)					21.0		%
State and local income tax, net of federal (national) income tax effect(1)						190						(0.6)
Foreign tax effects
United Kingdom
Stock Based Compensation						(701)						2.3
Other						128						(0.4)
Australia
Stock Based Compensation						(312)						1.0
Other						60						(0.2)
Other foreign jurisdictions						(3)						—
Total						(828)						2.7
Effect of changes in tax laws or rates enacted in the current period
Effect of cross-border tax laws
Tax credits
Federal R&D Credit						(15,562)						51.0
Total						(15,562)						51.0
Changes in valuation allowances						195,140						(639.1)
Nontaxable or nondeductible items
Meals and Entertainment						1,993						(6.5)
Stock Based Compensation						(170,121)						557.2
Prepaid marketing expense						(2,935)						9.6
Other						(215)						0.7
Total						(171,278)						561.0
Changes in unrecognized tax benefits.
Total						$	1,250					(4.1)		%

(1) State taxes in Texas and Ohio make up the majority of tax effect in this category.

Below is a reconciliation of the statutory federal income tax expense and the Company's total income tax expense for the years ended December 31, 2024 and 2023:

			Year Ended December 31,
						2024						2023
U.S. federal taxes at statutory rate						21.0		%				21.0		%
State taxes, net of federal benefit						7.6						4.3
Federal research and development credits						48.3						3.8
State research and development credits						20.2						0.9
Permanent items						(2.4)						(0.4)
Stock-based compensation						57.3						1.6
Foreign rate differential						0.1						—
Non-deductible officers compensation						(32.2)						(2.3)
Prepaid marketing expense						3.2						3.6
Other						(2.7)						—
Change in valuation allowance						126.0						(32.9)
Total						(5.6)		%				(0.4)		%

Schedule of Income Taxes Paid

As required by ASU 2023-09, the table below presents the amount of income taxes paid (in thousands, net of refunds received) for the year ended December 31, 2025, disaggregated by federal, state, and foreign jurisdictions.

			Year Ended December 31,
			2025
Federal			$	939
State			578
Foreign
UK			1,819
AUS			3,160
Other			40
Total			$	6,536

Schedule of Deferred Tax Assets and Liabilities

The carryforwards and temporary differences that give rise to a significant portion of the Company’s deferred tax assets and liabilities as of December 31, 2025 and 2024 are as follows (in thousands):

			Year Ended December 31,
			2025						2024
Deferred tax assets:
Net operating loss carryforwards			$	245,586					$	76,714
Research and development credits			87,255						63,894
Stock-based compensation			17,060						25,544
Lease liability			29,558						13,146
Capitalized research and development			154,483						105,266
Other			10,622						7,582
Total deferred tax assets			544,564						292,146
Deferred tax liabilities:
Depreciation			(2,365)						(2,362)
Deferred commissions			(13,659)						(9,818)
Amortization			(8,163)						(4,579)
ROU asset			(24,763)						(10,604)
Prepaid marketing expense			(32,417)						(37,112)
Total deferred tax liabilities			(81,367)						(64,475)
Valuation allowance			(457,787)						(225,135)
Net deferred tax assets			$	5,410					$	2,536

Schedule of Unrecognized Tax Benefits

A reconciliation of the gross unrecognized tax benefits consists of the following (in thousands):

			Year Ended December 31,
			2025						2024			2023
Unrecognized tax benefits, beginning balance			$	1,334					$	—		$	—
Gross increases for tax positions taken in prior years			11						1,334			—
Unrecognized tax benefits, ending balance			$	1,345					$	1,334		$	—

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