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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Domestic and Foreign Components of Loss Before Income Taxes | The domestic and foreign components of loss before income taxes were as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  |
Domestic | $ | (103,729) |  |  | $ | (173,375) |  |  |
Foreign | 5,621 |  |  | (89,528) |  |  |
Loss before income taxes | $ | (98,108) |  |  | $ | (262,903) |  |  |
Schedule of Income Tax Expense (Benefit) | Income tax benefit for the years ended December 31, 2024 and 2023 consisted of the following (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  |
Income tax expense: |  |  |  |  |
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  |
State | — |  |  | — |  |  |
Foreign | (167) |  |  | 186 |  |  |
Subtotal | (167) |  |  | 186 |  |  |
Deferred: |  |  |  |  |
Federal | — |  |  | — |  |  |
State | — |  |  | — |  |  |
Foreign | — |  |  | (5,258) |  |  |
Subtotal | — |  |  | (5,258) |  |  |
Income tax expense | $ | (167) |  |  | $ | (5,072) |  |  |
Schedule of Difference Between Income Tax Expense (Benefit) and Federal Statutory Income Tax Rate to Loss Before Income Taxes | The difference between the income tax benefit for the years ended December 31, 2024 and 2023 and the amount computed by applying the federal statutory income tax rate to loss before income taxes is explained as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  |
Tax at federal statutory rate | $ | (20,603) |  |  | $ | (55,210) |  |  |
State taxes, net | 3,483 |  |  | (1,372) |  |  |
Foreign rate differential | 263 |  |  | (4,273) |  |  |
Global Intangible Low-taxed Income | 617 |  |  | 791 |  |  |
Non-deductible stock-based compensation | 2,656 |  |  | 4,770 |  |  |
Research credits | (3,201) |  |  | (7,020) |  |  |
Change in valuation allowance | 16,172 |  |  | 49,016 |  |  |
Goodwill impairment | — |  |  | 9,764 |  |  |
Other | 446 |  |  | (1,538) |  |  |
Income tax expense | $ | (167) |  |  | $ | (5,072) |  |  |
Schedule of Deferred Tax Assets and Liabilities and Based on Tax Jurisdictions | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2024 |  | 2023
Assets: |  |  |
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 211,585 |  |  | $ | 196,719 |
Research and development tax credit carryforwards | 58,409 |  |  | 54,336 |
Stock-based compensation | 3,998 |  |  | 5,983 |
Deferred revenue | — |  |  | — |
Capitalized research | 74,354 |  |  | 71,675 |
Fixed assets | 15,648 |  |  | 17,152 |
Intangible assets | 31 |  |  | 101 |
Lease liability | 6,666 |  |  | 8,559 |
Accruals and reserves | 331 |  |  | 2,409 |
Other | 235 |  |  | 259 |
Total deferred tax asset | 371,257 |  |  | 357,193 |
Valuation allowance | 367,578 |  |  | 351,430 |
Deferred tax assets | 3,679 |  |  | 5,763 |
Liabilities: |  |  |
Intangible assets | — |  |  | — |
Operating lease right-of-use assets | (3,679) |  |  | (5,763) |
Deferred tax liabilities | (3,679) |  |  | (5,763) |
Total net deferred tax liabilities | $ | — |  |  | $ | — |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):
| December 31,
| 2024 |  | 2023 |  |
Beginning balance | $ | 18,320 |  |  | $ | 18,179 |  |  |
Additions based on tax positions related to the current year | 4,274 |  |  | 2,805 |  |  |
Additions for tax positions of prior years | 26 |  |  | 29 |  |  |
Reductions for tax positions of prior years | (224) |  |  | (2,693) |  |  |
Statute lapse | (259) |  |  | — |  |  |
Ending balance | $ | 22,137 |  |  | $ | 18,320 |  |  |

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