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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of components of (loss) income before provision for income taxes

The components of (loss) income before provision for income taxes are as follows:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
United States			$	(437,179)					$	(481,405)					$	(659,757)
Foreign			2,090						2,641						6,308
Total			$	(435,089)					$	(478,764)					$	(653,449)

Schedule of components of the provision for income taxes

The components of the provision for income taxes are as follows:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Current:
State			$	126					$	35					$	127
Foreign			871						1,191						1,248
Total current tax expense			997						1,226						1,375
Deferred:
Federal			—						—						18
State			—						—						3
Foreign			287						(541)						(257)
Total deferred tax expense			287						(541)						(236)
Total provision for income taxes			$	1,284					$	685					$	1,139

Schedule of the components of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and deferred tax liabilities are as follows:

			As of December 31,
			2024						2023
			(in thousands)
Deferred tax assets:
Net operating losses carryforwards			$	422,990					$	344,314
Capitalized research and development costs			118,340						122,162
Property, equipment and intangible assets			14,429						12,161
Accruals and reserves			42,043						40,172
Research and development credits			71,330						62,533
Stock-based compensation			12,923						18,278
Lease liabilities			49,538						54,564
Other			2,379						73
Total deferred tax assets			733,972						654,257
Deferred tax liabilities:
Right-of-use asset			(36,426)						(40,213)
Equity security investments			—						(9,044)
Other			(313)						(206)
Total deferred tax liabilities			(36,739)						(49,463)
Less: valuation allowance			(696,473)						(603,747)
Net deferred tax assets			$	760					$	1,047

Schedule of effective tax rate reconciliation

The following table presents a reconciliation of the income tax expense computed at the statutory federal rate and the Company’s income tax expense for the periods presented:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Taxes at the statutory federal rate			$	(91,369)					$	(100,553)					$	(137,276)
Change in valuation allowance			92,726						114,707						175,916
Stock-based compensation			12,012						8,077						7,905
Research and development credits			(11,000)						(14,549)						(15,738)
State taxes, net of federal benefits			(15,918)						(19,117)						(28,522)
Prior period true-up			7,962						8,212						—
Other			6,871						3,908						(1,146)
Total provision for income taxes			$	1,284					$	685					$	1,139

Schedule of reconciliation of the balance of total gross unrecognized tax benefits

A reconciliation of the beginning and ending balance of total unrecognized tax benefits is as follows:

			Year Ended December 31,
			2024						2023						2022
			(in thousands)
Unrecognized tax benefits - Beginning of period			$	36,946					$	29,634					$	20,100
Increases related to current year’s tax positions			6,414						8,465						9,233
(Decreases) increases related to prior years’ tax positions			(1,274)						(1,153)						301
Unrecognized tax benefits - End of period			$	42,086					$	36,946					$	29,634

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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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-Topic 740
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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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