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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Net Loss Before Provision for Income Taxes | Net loss before provision for income taxes consisted of the following (in thousands):
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
United States | $ | (88,910) |  |  | $ | (190,912) |  |  | $ | (898,036) |
International | 41,685 |  |  | 34,067 |  |  | 23,983 |
Total net loss before provision for income taxes | $ | (47,225) |  |  | $ | (156,845) |  |  | $ | (874,053) |
Summary of Provision for Income Taxes | The provision for income taxes consisted of the following (in thousands):
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Current |  |  |  |  |
Federal | $ | 2,930 |  |  | $ | — |  |  | $ | — |
State | 5,919 |  |  | 1,792 |  |  | 1,104 |
Foreign | 5,849 |  |  | 5,972 |  |  | 4,710 |
Total current | $ | 14,698 |  |  | $ | 7,764 |  |  | $ | 5,814 |
Deferred |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | — |
State | — |  |  | — |  |  | — |
Foreign | (3,635) |  |  | 631 |  |  | (701) |
Total deferred | (3,635) |  |  | 631 |  |  | (701) |
Total income tax provision | $ | 11,063 |  |  | $ | 8,395 |  |  | $ | 5,113 |
Summary of Variation of Effective Provision for (Benefit from) Income Taxes from Statutory Federal Income Tax Rate | The provision for income taxes differed from the amounts computed by applying the U.S. federal income tax rate to pretax loss as a result of the following (in thousands):
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Federal tax benefit at statutory rate | $ | (9,917) |  |  | $ | (32,937) |  |  | $ | (183,551) |
State tax, net of federal tax benefit | 4,676 |  |  | 1,415 |  |  | 848 |
Research and development credits | 6,650 |  |  | (11,574) |  |  | (12,830) |
Share-based compensation | 34,227 |  |  | 10,956 |  |  | 5,828 |
Debt extinguishment | — |  |  | — |  |  | 19 |
Global Intangible Low-Taxed Income (“GILTI”) | — |  |  | 3,035 |  |  | — |
Foreign derived intangible income (“FDII”) | (2,143) |  |  | — |  |  | — |
Other permanent differences | (983) |  |  | 1,674 |  |  | 3,143 |
Foreign tax rate differential | (2,624) |  |  | 548 |  |  | (2,497) |
Net operating (gains) losses not recognized | (18,823) |  |  | 35,278 |  |  | 194,153 |
Release of valuation allowance associated with acquisitions | — |  |  | — |  |  | — |
Total income tax provision | $ | 11,063 |  |  | $ | 8,395 |  |  | $ | 5,113 |
Summary of Deferred Income Tax Assets and Liabilities | The types of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are as follows (in thousands):
| Year ended December 31,
| 2024 |  | 2023
Deferred tax assets |  |  |
Net operating loss and credit carry-forwards | $ | 407,235 |  |  | $ | 463,400 |
Research and development credits | 73,352 |  |  | 87,111 |
Research and development expenditure capitalization | 201,814 |  |  | 130,792 |
Basis difference in investments | 138 |  |  | 40,655 |
Sales tax accrual | 67 |  |  | 67 |
Share-based compensation | 5,926 |  |  | 21,014 |
Acquired intangibles | 91,943 |  |  | 76,171 |
Accrued liabilities | 15,141 |  |  | 17,994 |
Gross deferred tax assets | 795,616 |  |  | 837,204 |
Valuation allowance | (644,379) |  |  | (674,720) |
Total deferred tax assets | 151,237 |  |  | 162,484 |
Deferred tax liabilities |  |  |
Deferred sales commissions | (104,236) |  |  | (117,875) |
Lease right of use assets | (6,948) |  |  | (8,255) |
Property and equipment | (35,837) |  |  | (35,753) |
Net deferred tax assets | $ | 4,216 |  |  | $ | 601 |
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | The following shows the changes in the gross amount of unrecognized tax benefits as of December 31, 2024 (in thousands):
| 2024 |  | 2023 |  | 2022
Unrecognized tax benefits, beginning of the year | $ | 31,976 |  |  | $ | 26,412 |  |  | $ | 20,010 |
Increases related to prior year tax positions | — |  |  | — |  |  | — |
Decreases related to prior year tax positions | (3,088) |  |  | (418) |  |  | — |
Increases related to current year tax positions | 1,305 |  |  | 5,982 |  |  | 6,402 |
Unrecognized tax benefits, end of year | $ | 30,193 |  |  | $ | 31,976 |  |  | $ | 26,412 |

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