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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Federal and State Income Tax Provision | The federal and state income tax provision for the year ended December 31, 2023, 2022 and 2021 are summarized as follows (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 4,178 |  |  | $ | 2,209 |  |  | $ | — |
State |  |  | 1,034 |  |  |  | 1,045 |  |  |  | — |
Income tax provision |  | $ | 5,212 |  |  | $ | 3,254 |  |  | $ | — |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the federal statutory rate to the Company’s effective tax rate is as follows for the years ended December 31, 2023, 2022, and 2021 (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Tax benefit at federal statutory rate |  | $ | (26,188 | ) |  | $ | (27,205 | ) |  | $ | (7,627 | )
State income taxes |  |  | (431 | ) |  |  | (344 | ) |  |  | 398 |
Tax credits, net of uncertain tax positions |  |  | (14,460 | ) |  |  | (15,138 | ) |  |  | (7,042 | )
Uncertain tax positions |  |  | 612 |  |  |  | 2,687 |  |  |  | — |
Stock-based compensation |  |  | 4,842 |  |  |  | 4,919 |  |  |  | (2,368 | )
Change in valuation allowance |  |  | 40,661 |  |  |  | 38,421 |  |  |  | 16,800 |
Other |  |  | 176 |  |  |  | (86 | ) |  |  | (161 | )
Income tax provision |  | $ | 5,212 |  |  | $ | 3,254 |  |  | $ | — |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant components of the Company’s deferred tax assets and liabilities consist of (in thousands):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss |  | $ | 12,448 |  |  | $ | 20,963 |
Accrued bonus |  |  | 931 |  |  |  | 806 |
Tax credits |  |  | 26,682 |  |  |  | 26,319 |
Stock-based compensation |  |  | 15,311 |  |  |  | 13,351 |
Deferred revenue |  |  | 63,004 |  |  |  | 67,673 |
Lease liability |  |  | 9,030 |  |  |  | 10,055 |
Section 174 R&D capitalization |  |  | 62,305 |  |  |  | 35,150 |
Refund liability |  |  | 24,707 |  |  |  | — |
Other |  |  | 521 |  |  |  | 1,608 |
Gross deferred tax assets |  |  | 214,939 |  |  |  | 175,925 |
Less valuation allowance |  |  | (204,550 | ) |  |  | (164,316 | )
Total deferred tax assets |  | $ | 10,389 |  |  | $ | 11,609 |
Deferred tax liabilities: |  |  |  |  |  |
Depreciation and amortization |  | $ | (4,544 | ) |  | $ | (5,155 | )
Right-of-use assets |  |  | (5,845 | ) |  |  | (6,454 | )
Gross deferred tax liabilities |  |  | (10,389 | ) |  |  | (11,609 | )
Deferred tax assets, net |  | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits for the years ended December 31, 2023, 2022, and 2021 (in thousands):
Balance as of December 31, 2021 |  | $ | 6,939 |
Increases related to tax positions taken during the current year |  |  | 8,199 |
Balance as of December 31, 2022 |  |  | 15,138 |
Decreases related to tax positions taken during the prior year |  |  | (594 | )
Increase related to tax positions taken during the prior year |  |  | 2,588 |
Increases related to tax positions taken during the current year |  |  | 3,071 |
Balance as of December 31, 2023 |  | $ | 20,203 |

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