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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of income before income taxes

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

			Years ended December 31,
			2024						2023						2022
United States loss			$	(259,395)					$	(267,058)					$	(35,272)
Foreign income			1,284						936						1,420
Total loss before income taxes			$	(258,111)					$	(266,122)					$	(33,852)

Schedule of provision (benefit) for income taxes

The provision for income taxes for 2024, 2023 and 2022 consists of the following (in thousands):

			Years ended December 31,
			2024						2023						2022
Current:
Federal			$	—					$	(55)					$	802
State			167						369						1,874
Foreign			233						58						112
Total current			400						372						2,788
Deferred:
Federal			119						37,160						(1,275)
State			118						4,201						(50)
Foreign			47						(13)						(79)
Total deferred			284						41,348						(1,404)
Total provision for income taxes			$	684					$	41,720					$	1,384

Schedule of difference in income tax provision from amount computed by applying U.S. federal income tax rate of 35% to loss before income taxes

The provision for income taxes for 2024, 2023 and 2022 differ from the amounts computed by applying the U.S. federal income tax rate of 21% to loss before income taxes for the following reasons (in thousands):

			Year ended December 31,
			2024						2023						2022
U.S. federal income tax benefit at statutory rate			$	(54,203)					$	(55,886)					$	(7,109)
State income tax expense, net of federal benefit			(9,444)						(12,297)						(1,170)
Research and development credit			(2,071)						(3,245)						(2,956)
Global intangible low-tax income			360						(736)						919
Other, net			391						(1)						(67)
Non-deductible executive compensation			1,286						762						905
Stock-based compensation expense			728						2,477						219
Change in valuation allowance			63,637						110,646						10,643
Total provision for income taxes			$	684					$	41,720					$	1,384

Schedule of components of deferred tax assets and liabilities

The components of our deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows (in thousands):

			December 31,
			2024						2023
Deferred tax assets:
Net operating loss carryforwards			$	73,925					$	29,440
Basis difference in equity securities			53,335						34,729
Capitalized software development			33,064						25,840
Research and development tax credits			26,040						24,202
Unearned revenue			7,324						7,925
Accrued expenses			3,325						4,275
Reserves and other			2,270						2,551
Operating lease liabilities			1,902						861
Other tax credits and carryforwards			261						270
Property and equipment, net held for sale			—						6,484
Intangible assets			—						117
Gross deferred tax assets			201,446						136,694
Valuation allowance			(195,742)						(132,105)
Total deferred tax assets			5,704						4,589
Deferred tax liabilities:
Property and equipment, net			(3,378)						(3,125)
Operating lease right-of-use assets			(1,664)						(786)
Intangible assets			(487)						—
Prepaid expenses			(368)						(587)
Total deferred tax liabilities			(5,897)						(4,498)
Total deferred tax assets (liabilities), net			$	(193)					$	91

Schedule of reconciliation of beginning and ending tax contingencies, excluding interest and penalties

A reconciliation of the beginning and ending unrecognized tax benefits, excluding interest and penalties, as of December 31, 2024, 2023 and 2022 is as follows (in thousands):

			Year ended December 31,
			2024						2023						2022
Beginning balance			$	15,020					$	13,488					$	11,961
Additions for tax positions related to the current year			1,121						1,258						1,083
Additions (reductions) for tax positions taken in prior years			(452)						274						444
Ending balance			$	15,689					$	15,020					$	13,488

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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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