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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Taxes

The components of our income before income taxes for the years ended December 31, 2023, 2022 and 2021 are as follows:

						Year Ended December 31,
(in thousands)						2023						2022						2021
Income (loss) before income taxes:
Domestic						$	(239,971)					$	(110,610)					$	308,514
Foreign						(122,341)						(10,199)						11,026
Total						$	(362,312)					$	(120,809)					$	319,540

Schedule of Components of Income Tax Provision

The components of income tax provision for the years ended December 31, 2023, 2022 and 2021 are as follows:

(in thousands)						2023						2022						2021
Current:
U.S. federal						$	135					$	119					$	(8,675)
State						(50)						(498)						2,097
Foreign						1,686						5,037						6,861
Total						1,771						4,658						283
Deferred:
U.S. federal						—						—						—
State						—						—						—
Foreign						(2,412)						(2,518)						(2,795)
Total						(2,412)						(2,518)						(2,795)
Total income tax (benefit) provision						$	(641)					$	2,140					$	(2,512)

Schedule of Effective Tax Rate Reconciliation

The overall effective tax rate differs from the statutory federal tax rate for the years ended December 31, 2023, 2022 and 2021 as follows:

						% of Pretax (Loss) Income
						2023						2022						2021
Tax provision based on the federal statutory rate						21.0		%				21.0		%				21.0		%
Increase in valuation allowances						(6.5)						(10.7)						(10.4)
Change in carryforward attributes						—						(1.9)						(0.7)
Global intangible low-taxed income inclusion						(0.4)						(0.5)						1.2
Non-deductible expenses						—						(1.6)						1.4
Non-deductible earnout expense						1.0						(2.8)						—
Goodwill impairment charge						(14.6)						—						—
Foreign income tax rate differential						0.5						(0.3)						—
Deemed income related to foreign operations						(0.3)						(0.2)						—
Tax rate change						—						(1.2)						(0.7)
Employee share-based payments						(0.5)						(1.6)						(1.3)
Other						(0.7)						0.4						—
Deferred and payable adjustments						(1.3)						(1.7)						1.4
Non-deductible penalties						—						(2.5)						—
State taxes, net of federal benefit, before valuation allowance						0.7						1.4						1.0
Return-to-provision adjustments						0.2						(0.2)						(0.1)
Other tax credits						1.1						0.8						(0.5)
Uncertain tax positions and audit settlements						—						(0.2)						(3.0)
Divestitures						—						—						(10.1)
Effective tax rate						0.2		%				(1.8)		%				(0.8)		%

Schedule of Components of Net Deferred Income Tax Assets and Net Deferred Income Tax Liabilities

The components of our net deferred income tax assets and net deferred income tax (liabilities) at December 31, 2023 and 2022 are as follows:

(in thousands)						2023						2022
Deferred income tax assets:
Intangible assets						$	13,830					$	8,601
Stock options and restricted stock awards						5,409						6,091
Reserves and allowances						6,395						6,145
Net operating loss carryforwards						47,875						51,845
Tax credit carryforwards						25,286						19,649
Accrued liabilities						2,371						2,518
Deferred revenue						2,783						5,502
Lease tax assets						15,985						9,589
Research expenditures capitalization						30,601						11,140
Other						1,227						1,180
Valuation allowance						(125,533)						(100,694)
Total deferred income tax assets						26,229						21,566
Deferred income tax liabilities:
Intangible assets						8,688						9,090
Property and equipment						4,082						4,477
Lease tax liabilities						13,924						7,785
Other						467						807
Total deferred income tax liabilities						27,161						22,159
Net deferred income tax liabilities						$	(932)					$	(593)

Schedule of Unrecognized Tax Benefits

We include interest and penalties in the consolidated financial statements as a component of income tax expense.

						Unrecognized Tax Benefits(1)
(in thousands)						2023						2022						2021
Balance at January 1						$	(17,150)					$	(17,261)					$	(25,902)
Increases related to prior year tax positions						(99)						(192)						(467)
Decreases related to prior year tax positions						107						508						8,886
Decreases related to prior year tax positions as a result of lapse of statute						271						145						371
Decreases related to settlement						—						—						1,043
Increases related to current year tax positions						(1,733)						(269)						(553)
Increases related to acquired tax positions						—						(119)						(639)
Decreases related to acquired tax positions						—						38						—
Balance at December 31						$	(18,604)					$	(17,150)					$	(17,261)

(1) The unrecognized tax benefit balance as of December 31, 2023, 2022, and 2021 includes $323, $283, and $208 of interest and penalty, respectively.

Schedule of Deferred Income Tax Asset Valuation Allowance

The following presents the changes in the balance of our deferred income tax asset valuation allowance:

Year Ended						Item						Balance at beginning of year						Additions (reductions) charged to expense						Other(1)						Balance at end of year
2023						Deferred income tax asset valuation allowance						$	100,694					$	23,606					$	1,233					$	125,533
2022						Deferred income tax asset valuation allowance						$	91,165					$	12,848					$	(3,319)					$	100,694
2021						Deferred income tax asset valuation allowance						$	123,113					$	(31,948)					$	—					$	91,165

(1) The Other portion of changes to our valuation allowance consists primarily of the impact of acquisitions and changes in foreign currency translation rates.

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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 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 unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

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