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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Amount of Net Loss Before Taxes | The amount of net loss before taxes for the years ended December 31, 2024, 2023, and 2022 is as follows:
| December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
U.S. loss before taxes | $ | 32,178 |  |  | $ | 134,073 |  |  | $ | 175,777 |
Foreign loss before taxes | 23,457 |  |  | 45,736 |  |  | 53,593 |
Pre-tax Loss | $ | 55,635 |  |  | $ | 179,809 |  |  | $ | 229,370 |
Schedule of Components of Income Tax Expense (Benefit) | A reconciliation of income tax expense for the years ended December 31, 2024, 2023 and 2022 is as follows:
| December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Current: |  |  |  |  |
Federal | $ | 886 |  |  | $ | — |  |  | $ | — |
State | 7 |  |  | 8 |  |  | 8 |
Total income tax expense | $ | 893 |  |  | $ | 8 |  |  | $ | 8 |
Schedule of Deferred Tax Assets and Liabilities |
| December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Deferred tax assets: |  |  |  |  |
Net operating losses | $ | 97,940 |  |  | $ | 122,987 |  |  | $ | 128,989 |
Deferred loss | 10,575 |  |  | — |  |  | — |
Capital loss | 20,348 |  |  | — |  |  | — |
Tax credits | 44,803 |  |  | 45,445 |  |  | 34,193 |
Amortization | 2,646 |  |  | 6,919 |  |  | 8,487 |
Stock-based compensation | 10,984 |  |  | 9,886 |  |  | 8,445 |
Lease liability | 1,135 |  |  | 726 |  |  | 1,354 |
Accrued compensation | 547 |  |  | 1,887 |  |  | 2,514 |
Section 174 capitalization | 35,715 |  |  | 34,268 |  |  | 21,840 |
Other | 5,076 |  |  | 43 |  |  | 37 |
Total gross deferred tax assets | 229,769 |  |  | 222,161 |  |  | 205,859 |
Deferred tax liabilities: |  |  |  |  |
Other | (3) |  |  | — |  |  | — |
Right of use asset | (1,083) |  |  | (660) |  |  | (1,244) |
Property, plant and equipment | — |  |  | (108) |  |  | (565) |
Total gross deferred tax liabilities | (1,086) |  |  | (768) |  |  | (1,809) |
Valuation allowance | (228,683) |  |  | (221,393) |  |  | (204,050) |
Net deferred tax asset | $ | — |  |  | $ | — |  |  | $ | — |
Schedule of Reconciliation of the Federal Statutory Income Tax Rate to Effective Income Tax Rate | A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate is as follows:
| December 31,
| 2024 |  | 2023 |  | 2022
Federal statutory income tax rate | 21.00 | % |  | 21.00 | % |  | 21.00 | %
Change in valuation allowance | (12.38 | %) |  | (8.73 | %) |  | (20.25 | %)
Research and experimentation credits | 3.03 | % |  | 5.69 | % |  | 3.39 | %
Foreign rate differential | (3.75 | %) |  | (2.13 | %) |  | (1.88 | %)
GILTI | (4.72 | %) |  | — | % |  | — | %
Stock-based compensation | (4.61 | %) |  | (1.44 | %) |  | (0.90 | %)
Nondeductible interest | (4.13 | %) |  | (1.27 | %) |  | (0.99 | %)
Domestic/Foreign Restructuring Impact | 2.52 | % |  | (12.49 | %) |  | — | %
Other | 1.44 | % |  | (0.62 | %) |  | (0.37 | %)
Provision for income taxes | (1.60 | %) |  | — | % |  | — | %
Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties | A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2024, 2023, and 2022, excluding interest and penalties, is as follows:
| December 31,
| 2024 |  | 2023 |  | 2022
| (in thousands)
Balance at beginning of the year | $ | 13,654 |  |  | $ | 10,572 |  |  | $ | 7,551 |
Decrease related to prior year positions | (2,028) |  |  | — |  |  | — |
Increase related to current year positions | 2,293 |  |  | 3,082 |  |  | 3,021 |
Balance at the end of the year | $ | 13,919 |  |  | $ | 13,654 |  |  | $ | 10,572 |

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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