XML 59 R43.htm IDEA: XBRL DOCUMENT v3.24.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Summary of Components of Loss Before Income Taxes

Loss before income taxes included in the consolidated statements of operations was as follows:

									Year Ended December 31,
															2023						2022						2021
															(in thousands)
United States															$	(136,637)					$	(109,381)					$	(106,281)
Foreign															(13,141)						(12,924)						(29,632)
Loss before income taxes															$	(149,778)					$	(122,305)					$	(135,913)

Summary of Income Tax (Benefit) Expense

Income tax expense included in the consolidated statements of operations was as follows:

			Year Ended December 31,
			2023						2022						2021
			(in thousands)
Current:
Federal			$	428					$	1					$	124
State and local			1,361						243						177
Foreign			3,317						3,608						9,690
Total current tax expense			5,106						3,852						9,991
Deferred:
Federal			9						10						10
State and local			2						2						2
Foreign			(5,635)						(1,452)						418
Total deferred tax (benefit) expense			(5,624)						(1,440)						430
Income tax expense			$	(518)					$	2,412					$	10,421

Summary of Reconciliation of Income Taxes Computed at Federal Statutory Rate and Provision for Income Taxes

The reconciliation of the federal statutory rate of 21% to the effective income tax rate for the years ended December 31, 2023, 2022 and 2021 was as follows:

			Year Ended December 31,
			2023						2022						2021
Federal statutory rate			21.0		%				21.0		%				21.0		%
State taxes, net of federal benefit			(0.5)						(0.1)						(0.1)
Permanent differences			(0.9)						(0.2)						(0.2)
Stock-based compensation			(7.0)						(2.4)						14.2
Federal research and development credit			0.9						1.4						1.4
Foreign rate differential			0.3						0.1						(0.5)
Change in valuation allowance			(3.2)						(24.8)						(36.0)
Excess officers' compensation			(1.7)						(3.1)						(5.9)
Tax rate change			(3.4)						7.8						11.2
Induced conversion expense			(9.5)						—						(0.6)
Tax reserves			(0.1)						(0.2)						(3.8)
Prior year true-ups			5.2						(0.3)						(0.1)
Capital gain on sale			—						—						(7.0)
Other			(0.8)						(1.1)						(1.2)
Effective income tax rate			0.3		%				(1.9)		%				(7.6)		%

Summary of Components of Net Deferred Tax Assets and Liabilities

Net deferred tax assets and liabilities, as set forth in the table below, reflect the impact of temporary differences between the amounts of assets and liabilities recorded for financial statement purposes and such amounts measured in accordance with tax laws:

			As of December 31,
			2023						2022
			(in thousands)
Deferred tax assets:
Accruals and reserves			$	335					$	109
Net operating loss carryforwards			137,706						166,173
Deferred revenue			15,726						9,597
Depreciation			836						3,258
Research and development credits			14,116						11,047
Capitalized research and development			63,234						40,253
Operating lease liabilities			24,012						25,134
Stock-based compensation			9,113						9,072
Tax credits			1,148						1,148
Other			1,170						1,918
Gross deferred tax assets			$	267,396					$	267,709
Valuation allowance			(231,661)						(230,205)
Total deferred tax assets			$	35,735					$	37,504
Deferred tax liabilities:
Intangible assets			$	—					$	—
Operating lease ROU assets			(11,307)						(20,159)
Convertible senior notes			—						—
Deferred contract acquisition and fulfillment costs			(24,251)						(22,664)
Other			(65)						(55)
Total deferred tax liabilities			$	(35,623)					$	(42,878)
Net deferred tax liabilities			$	112					$	(5,374)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration