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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Loss Before Income Taxes | The components of our loss before income taxes for the years ended December 31, 2024, 2023 and 2022 are as follows:
|  | Year Ended December 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Loss before income taxes: |  |  |  |  |  |
Domestic |  | $ | (160,709) |  |  | $ | (239,971) |  |  | $ | (110,610) |
Foreign |  | (89,287) |  |  | (122,341) |  |  | (10,199) |
Total |  | $ | (249,996) |  |  | $ | (362,312) |  |  | $ | (120,809) |
Schedule of Components of Income Tax Provision | The components of our income tax provision for the years ended December 31, 2024, 2023 and 2022 are as follows:
(in thousands) |  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
U.S. federal |  | $ | 24 |  |  | $ | 135 |  |  | $ | 119 |
State |  | 301 |  |  | (50) |  |  | (498) |
Foreign |  | 2,820 |  |  | 1,686 |  |  | 5,037 |
Total |  | 3,145 |  |  | 1,771 |  |  | 4,658 |
Deferred: |  |  |  |  |  |
U.S. federal |  | — |  |  | — |  |  | — |
State |  | — |  |  | — |  |  | — |
Foreign |  | (952) |  |  | (2,412) |  |  | (2,518) |
Total |  | (952) |  |  | (2,412) |  |  | (2,518) |
Total income tax (benefit) provision |  | $ | 2,193 |  |  | $ | (641) |  |  | $ | 2,140 |
Schedule of Effective Tax Rate Reconciliation | The overall effective tax rate differs from the statutory federal tax rate for the years ended December 31, 2024, 2023 and 2022 as follows:
|  | % of Pretax (Loss) Income
|  | 2024 |  | 2023 |  | 2022
Tax provision based on the federal statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase in valuation allowances |  | (17.3) |  |  | (6.5) |  |  | (10.7) |
Change in carryforward attributes |  | — |  |  | — |  |  | (1.9) |
Global intangible low-taxed income inclusion |  | — |  |  | (0.4) |  |  | (0.5) |
Non-deductible expenses |  | — |  |  | — |  |  | (1.6) |
Non-deductible earnout expense |  | — |  |  | 1.0 |  |  | (2.8) |
Goodwill impairment charge |  | (8.7) |  |  | (14.6) |  |  | — |
Foreign income tax rate differential |  | 0.2 |  |  | 0.5 |  |  | (0.3) |
Deemed income related to foreign operations |  | (0.6) |  |  | (0.3) |  |  | (0.2) |
Tax rate change |  | (0.1) |  |  | — |  |  | (1.2) |
Employee share-based payments |  | (0.3) |  |  | (0.5) |  |  | (1.6) |
Other |  | (0.3) |  |  | (0.7) |  |  | 0.4 |
Deferred and payable adjustments |  | 1.3 |  |  | (1.3) |  |  | (1.7) |
Non-deductible penalties |  | — |  |  | — |  |  | (2.5) |
State taxes, net of federal benefit, before valuation allowance |  | 1.2 |  |  | 0.7 |  |  | 1.4 |
Return-to-provision adjustments |  | (0.5) |  |  | 0.2 |  |  | (0.2) |
Other tax credits |  | 2.0 |  |  | 1.1 |  |  | 0.8 |
Uncertain tax positions and audit settlements |  | 1.3 |  |  | — |  |  | (0.2) |
Effective tax rate |  | (0.8) | % |  | 0.2 | % |  | (1.8) | %
Schedule of Unrecognized Tax Benefits Roll Forward | The components of our net deferred income tax assets and net deferred income tax (liabilities) at December 31, 2024 and 2023 are as follows:
(in thousands) |  | 2024 |  | 2023
Deferred income tax assets: |  |  |  |
Intangible assets |  | $ | 15,685 |  |  | $ | 13,830 |
Stock options and restricted stock awards |  | 3,032 |  |  | 5,409 |
Reserves and allowances |  | 6,879 |  |  | 6,395 |
Net operating loss carryforwards |  | 59,641 |  |  | 47,875 |
Tax credit carryforwards |  | 31,326 |  |  | 25,286 |
Accrued liabilities |  | 2,681 |  |  | 2,371 |
Deferred revenue |  | 2,176 |  |  | 2,783 |
Lease tax assets |  | 17,498 |  |  | 15,985 |
Research expenditures capitalization |  | 44,773 |  |  | 30,601 |
Other |  | 3,236 |  |  | 1,227 |
Valuation allowance |  | (168,299) |  |  | (125,533) |
Total deferred income tax assets |  | 18,628 |  |  | 26,229 |
Deferred income tax liabilities: |  |  |  |
Intangible assets |  | 2,081 |  |  | 8,688 |
Property and equipment |  | 2,352 |  |  | 4,082 |
Lease tax liabilities |  | 14,159 |  |  | 13,924 |
Other |  | 49 |  |  | 467 |
Total deferred income tax liabilities |  | 18,641 |  |  | 27,161 |
Net deferred income tax liabilities |  | $ | (13) |  |  | $ | (932) |
We include interest and penalties in the consolidated financial statements as a component of income tax expense.
|  | Unrecognized Tax Benefits(1)
(in thousands) |  | 2024 |  | 2023 |  | 2022
Balance at January 1 |  | $ | (18,604) |  |  | $ | (17,150) |  |  | $ | (17,261) |
Increases related to prior year tax positions |  | (1,170) |  |  | (99) |  |  | (192) |
Decreases related to prior year tax positions |  | 4,337 |  |  | 107 |  |  | 508 |
Decreases related to prior year tax positions as a result of lapse of statute |  | — |  |  | 271 |  |  | 145 |
Decreases related to settlement |  | — |  |  | — |  |  | — |
Increases related to current year tax positions |  | (976) |  |  | (1,733) |  |  | (269) |
Increases related to acquired tax positions |  | — |  |  | — |  |  | (119) |
Decreases related to acquired tax positions |  | — |  |  | — |  |  | 38 |
Balance at December 31 |  | $ | (16,413) |  |  | $ | (18,604) |  |  | $ | (17,150) |
(1) The unrecognized tax benefit balance as of December 31, 2024, 2023, and 2022 includes $1.3 million, $0.3 million, and $0.3 million 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
2024 |  | Deferred income tax asset valuation allowance |  | $ | 125,533 |  |  | $ | 43,365 |  |  | $ | (599) |  |  | $ | 168,299 |
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 |
(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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