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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

For financial reporting purposes, income (loss) before income taxes includes the following components:

						Years ended December 31,
(in thousands)						2024						2023						2022
United States						$	(210,049)					$	(234,482)					$	(343,424)
Foreign						181,293						84,381						101,385
Total						$	(28,756)					$	(150,101)					$	(242,039)

Schedule of Income Tax Expense (Benefit)

Following were the components of income tax expense (benefit) for the years ended December 31, 2024, 2023, and 2022:

						Years ended December 31,
(in thousands)						2024						2023						2022
Current
Federal						$	—					$	—					$	—
State						76						14						6
Foreign						27,274						6,408						(5,760)
Deferred
Federal						—						(4,801)						274
State						—						(138)						9
Foreign						—						—						—
Total						$	27,350					$	1,483					$	(5,471)

Schedule of Reconciliation of the Statutory Tax Rates and the Effective Tax Rates

A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 31, 2024, 2023, and 2022 are as follows:

						Years ended December 31,
						2024						2023						2022
Statutory rate						(21)		%				(21)		%				(21)		%
Tax credits						(14)						(8)						(11)
Impact of foreign operations						180						(9)						18
Executive compensation						36						7						3
Other						63						1						—
Valuation allowance						(149)						31						9
Net						95		%				1		%				(2)		%

Reconciliation of Unrecognized Tax Benefits

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

						Years ended December 31,
(in thousands)						2024						2023			2022
Gross unrecognized tax benefits at beginning of year						$	4,888					$	283		$	—
Gross increases for tax positions in prior years						9,542						4,605			283
Decreases for settlements and payments						(625)						—			—
Gross unrecognized tax benefits at end of year						$	13,805					$	4,888		$	283

Schedule of Significant Components of the Deferred Tax Assets and Liabilities

The significant components of the deferred tax assets and liabilities are as follows:

						Years ended December 31,
(in thousands)						2024						2023
Deferred tax assets
Net operating loss carry forwards						302,066						321,004
Research tax credit						234,189						235,532
Capitalized research and development costs						34,883						34,425
Share-based compensation						20,045						17,314
Lease liability						10,026						10,567
Interest carry forward limitation						9,097						17,627
Inventory						1,599						1,931
Other						5,267						20,858
Gross deferred tax assets						617,172						659,258
Deferred tax liabilities
Other						(8,042)						(10,004)
Total net deferred tax assets						609,130						649,254
Less: valuation allowance						(609,130)						(649,254)
Net deferred tax liability						$	—					$	—

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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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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 income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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