XML 80 R64.htm IDEA: XBRL DOCUMENT v3.25.4
Income Taxes - Schedule of Reconciliation of Income Tax Expense (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Tax computed at federal statutory rate $ (97,679) $ (62,666) $ (45,051)
State tax, net of federal income tax effect (884) (593) (375)
Foreign tax effects 2,595 104 105
Stock-based compensation 104 (7,395) 1,252
Other 4,208 2,487 167
Changes in valuation allowance 108,651 84,071 56,780
Federal R&D credits (20,550) (19,527) (15,455)
Other tax credits (240) 0 0
Changes in unrecognized tax benefits 3,966 3,515 2,691
Other 9 4 (114)
Provision for income taxes $ 180 $ 0 $ 0
Percent      
Tax computed at federal statutory rate 21.00% 21.00% 21.00%
State tax, net of federal income tax effect 0.19% 0.20% 0.17%
Foreign tax effects (0.56%) (0.03%) (0.05%)
Stock-based compensation (0.02%) 2.47% (0.58%)
Other (0.90%) (0.84%) (0.08%)
Changes in valuation allowance (23.36%) (28.17%) (26.47%)
Federal R&D credits 4.42% 6.54% 7.20%
Other tax credits 0.05% 0.00% 0.00%
Changes in unrecognized tax benefits (0.85%) (1.18%) (1.25%)
Other (0.01%) 0.01% 0.06%
Provision for income taxes (0.04%) 0.00% 0.00%