XML 50 R33.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

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

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://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

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-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://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

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

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

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