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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Tax Provision

Income (loss) before income tax:			Year Ended December 31,
(in thousands)			2024						2023						2022
Domestic			$	37,949					$	(1,734)					$	24,680
Foreign			19,984						20,875						19,805
Income before income taxes			$	57,933					$	19,141					$	44,485

Schedule of Provision for (Benefit from) Income Taxes

Provision for (benefit from) income taxes:			Year Ended December 31,
(in thousands)			2024						2023						2022
Current:
Federal			$	24,749					$	19,441					$	4,443
State			5,755						4,582						3,236
Foreign			4,648						3,980						3,730
Deferred:
Federal			(19,152)						(81,632)						—
State			104						(12,416)						—
Foreign			2,612						1,192						4,894
Total provision for (benefit from) income taxes			$	18,716					$	(64,853)					$	16,303

Schedule of Reconciliation of Provision for (Benefit from) Income Taxes

The difference between the tax provision at the statutory federal income tax rate and the provision for (benefit from) income tax as a percentage of income (loss) before income taxes (effective tax rate) for each period was as follows:

						Year Ended December 31,
						2024						2023						2022
Statutory U.S. federal income tax rate						21		%				21		%				21		%
Increase (reduction) in rate resulting from:
State Taxes						5		%				(4)		%				7		%
Differential in rates on foreign earnings						2		%				(13)		%				1		%
Change in valuation allowance						1		%				(350)		%				15		%
Change in liabilities for uncertain tax positions						1		%				—		%				—		%
Non-deductible stock-based compensation						3		%				6		%				4		%
Permanent differences						(1)		%				(5)		%				(1)		%
Adjustments related to tax positions taken during prior years						1		%				12		%				(8)		%
Research and development credits						(1)		%				(6)		%				(2)		%
Effective tax rate						32		%				(339)		%				37		%

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred taxes are as follows:

			As of December 31,
(in thousands)			2024						2023
Deferred tax assets:
Reserves and accruals			$	25,069					$	24,908
Net operating loss carryforwards			11,044						14,376
Research and development credit carryforwards			30,350						30,117
Deferred stock-based compensation			2,341						1,863
Intangibles			4,912						5,651
Operating lease liabilities			4,953						6,216
Capitalized research and development expenses			83,055						64,075
Other			3,219						3,110
Gross deferred tax assets			164,943						150,316
Valuation allowance			(37,489)						(37,084)
Gross deferred tax assets after valuation allowance			127,454						113,232
Deferred tax liabilities:
Depreciation			(3,127)						(3,506)
Operating lease right-of-use assets			(3,299)						(5,019)
Gross deferred tax liabilities			(6,426)						(8,525)
Net deferred tax assets			$	121,028					$	104,707

Schedule of Activities Related to Valuation Allowance

The following table summarizes the activities related to the Company’s valuation allowance:

			Year Ended December 31,
(in thousands)			2024						2023						2022
Balance at beginning of period			$	37,084					$	101,020					$	90,247
Additions			481						477						10,773
Deductions			(76)						(64,413)						—
Balance at end of period			$	37,489					$	37,084					$	101,020

Schedule of Activities Related to Gross Unrecognized Tax Benefits

The following table summarizes the activities related to the Company’s gross unrecognized tax benefits:

			Year Ended December 31,
(in millions)			2024						2023						2022
Balance at beginning of period			$	12.5					$	11.1					$	13.8
Increase in balance related to tax positions taken during current year			0.2						0.4						0.3
Decrease in balance as a result of a lapse of the applicable statutes of limitations			—						—						—
Increase in balance related to tax positions taken during prior years			0.3						1.0						—
Decrease in balance related to tax positions taken during prior years			(1.0)						—						(3.0)
Balance at end of period			$	12.0					$	12.5					$	11.1

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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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