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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Loss Before Income Taxes | loss before income taxes consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Domestic |  | $ | (40,587 | ) |  | $ | (174,041 | )
International |  |  | (33,617 | ) |  |  | (18,887 | )
Loss before income taxes |  | $ | (74,204 | ) |  | $ | (192,928 | )
Schedule of Significant Components of Provision for Income Taxes | Significant components of the Company's benefit (expense) from income taxes are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Current: |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |
State |  |  | (197 | ) |  |  | (87 | )
Foreign |  |  | (373 | ) |  |  | (405 | )
Total current tax expense |  |  | (570 | ) |  |  | (492 | )
Deferred: |  |  |  |  |  |
Federal |  |  | — |  |  |  | — |
State |  |  | — |  |  |  | — |
Foreign |  |  | 118 |  |  |  | 3,322 |
Total deferred benefit |  |  | 118 |  |  |  | 3,322 |
Total benefit (expense) from income taxes |  | $ | (452 | ) |  | $ | 2,830 |
Schedule of Reconciliation of Income Taxes at Statutory Rate to (Provision for)/Benefit (expense) from Income Taxes Recorded in Statements of Operations | Reconciliation of income taxes at the statutory rate to the benefit (expense) from income taxes recorded in the statements of operations is as follows:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Tax benefit at federal statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State tax expense, net of federal benefit |  |  | 1.3 |  |  |  | 0.8 |
Foreign tax expense |  |  | 8.1 |  |  |  | 0.8 |
NOL carryforwards expiring unutilized |  |  | (5.5 | ) |  |  | (22.8 | )
Change in valuation allowance |  |  | (21.9 | ) |  |  | 17.1 |
Federal R&D credit |  |  | 0.2 |  |  |  | 0.2 |
Unrecognized tax benefit |  |  | — |  |  |  | 0.9 |
Non-deductible interest/premium |  |  | — |  |  |  | (0.3 | )
Non-deductible loss on Forward Sale of Preferred Stock and Bridge Loans |  |  | — |  |  |  | (8.0 | )
R&D tax credits expiring unutilized |  |  | — |  |  |  | (5.2 | )
Transaction costs |  |  | (1.5 | ) |  |  | — |
Executive stock-based compensation |  |  | (2.6 | ) |  |  | (0.8 | )
Return to provision |  |  | 2.5 |  |  |  | — |
Other, net |  |  | (2.0 | ) |  |  | (2.2 | )
Effective tax rate |  |  | (0.4 | )% |  |  | 1.5 | %
Schedule of Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforward |  | $ | 96,242 |  |  | $ | 85,182 |
Reserves and accruals |  |  | 3,152 |  |  |  | 3,943 |
Depreciation and amortization |  |  | 564 |  |  |  | 563 |
Capitalized R&D costs |  |  | 5,962 |  |  |  | 3,840 |
Tax credit carryforwards |  |  | 15,463 |  |  |  | 14,456 |
Stock-based compensation |  |  | 1,143 |  |  |  | 2,064 |
Right-of-use lease liabilities |  |  | 7,782 |  |  |  | 8,663 |
Total gross deferred tax assets |  |  | 130,308 |  |  |  | 118,711 |
Valuation allowance on deferred tax assets |  |  | (124,124 | ) |  |  | (107,893 | )
Total deferred tax assets, net of valuation allowance |  |  | 6,184 |  |  |  | 10,818 |
Deferred tax liabilities: |  |  |  |  |  |
Fixed assets and intangibles |  |  | (54 | ) |  |  | (3,913 | )
Right-of-use assets |  |  | (6,836 | ) |  |  | (7,729 | )
Total deferred tax liabilities |  |  | (6,890 | ) |  |  | (11,642 | )
Net deferred tax liability |  | $ | (706 | ) |  | $ | (824 | )
Deferred tax liability per balance sheet |  | $ | (841 | ) |  | $ | (1,055 | )
Less deferred tax assets included in other long-term assets |  |  | 135 |  |  |  | 231 |
Net deferred tax liability |  | $ | (706 | ) |  | $ | (824 | )
Schedule of Summary of Valuation Allowance | A reconciliation of the beginning and ending amounts of the valuation allowance for the years ended December 31, 2023 and 2022 is as follows (in thousands):
|  | Valuation Allowance |
December 31, 2021 |  | $ | 141,087 |
Charges to earnings |  |  | — |
Charges to other accounts |  |  | (33,194 | )
December 31, 2022 |  |  | 107,893 |
Charges to earnings |  |  | — |
Charges to other accounts |  |  | 16,231 |
December 31, 2023 |  | $ | 124,124 |
Schedule of Aggregate Changes in Balance of Gross Unrecognized Tax Benefits | The aggregate changes in the balance of the Company's gross unrecognized tax benefits during 2023, and 2022 were as follows (in thousands):
December 31, 2021 |  | $ | 8,515 |
Increases in balances related to tax positions during a prior period |  |  | 154 |
Increases in balances related to tax positions taken during current period |  |  | — |
Decreases in balances related to tax positions taken during prior period |  |  | (1,697 | )
December 31, 2022 |  |  | 6,972 |
Increases in balances related to tax positions during a prior period |  |  | 105 |
Decreases in balances related to tax positions taken during current period |  |  | (138 | )
December 31, 2023 |  | $ | 6,939 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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