XML 63 R37.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Taxes |
Components of loss before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Domestic | ​ | $ | (238,272) | ​ | $ | (291,746) | ​ | $ | (287,058)
Foreign | ​ |  | — | ​ |  | (8) | ​ |  | (42)
Total | ​ | $ | (238,272) | ​ | $ | (291,754) | ​ | $ | (287,100)
Income tax provision (benefit) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Current: |  | ​ |  |  | ​ |  |  | ​ |
Federal | ​ | $ | — | ​ | $ | — | ​ | $ | —
State | ​ |  | — | ​ |  | — | ​ |  | —
Foreign | ​ |  | — | ​ |  | — | ​ |  | —
Subtotal | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |
Deferred: | ​ |  |  | ​ |  |  | ​ |  |
Federal | ​ | $ | (380) | ​ | $ | — | ​ | $ | —
State | ​ |  | — | ​ |  | — | ​ |  | —
Foreign | ​ |  | — | ​ |  | — | ​ |  | —
Subtotal | ​ | $ | (380) | ​ | $ | — | ​ | $ | —
​ | ​ |  |  | ​ |  |  | ​ |  |
Income tax provision (benefit) | ​ | $ | (380) | ​ | $ | — | ​ | $ | —
Reconciliation of the statutory United States federal rate to the Company's effective tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ |  | 2023 |  | 2022 |  | 2021 |
Percent of pre-tax income: |  |  |  |  |  |  | ​
United States federal statutory income tax rate |  | 21.0 | % | 21.0 | % | 21.0 | %
State taxes, net of federal benefit |  | (1.2) |  | 1.7 |  | 2.6 | ​
Foreign rate differences |  | — |  | — |  | — | ​
Permanent items | ​ | — |  | (0.1) |  | 0.2 | ​
Research and development credit |  | 0.9 |  | 1.8 |  | 2.6 | ​
Stock-based compensation costs | ​ | (3.5) | ​ | (2.3) | ​ | (1.2) | ​
Other |  | 0.7 |  | — |  | — | ​
Change in valuation allowance | ​ | (17.7) |  | (22.1) |  | (25.2) | ​
Effective income tax rate |  | 0.2 | % | — | % | — | %
Components of the Company's net deferred tax assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(in thousands) |  | 2023 |  | 2022
Net operating loss carryforwards | ​ | $ | 170,402 | ​ | $ | 131,423
Research and development credits | ​ |  | 65,225 | ​ |  | 63,164
Depreciation and amortization | ​ |  | 37,211 | ​ |  | 51,877
Stock-based compensation | ​ |  | 30,370 | ​ |  | 32,561
Sales related accruals | ​ |  | 38,474 | ​ |  | 23,864
Other accruals | ​ |  | 42,480 | ​ |  | 19,717
Capitalized research and development | ​ | ​ | 46,062 | ​ | ​ | 17,673
Gross deferred tax assets | ​ |  | 430,224 | ​ |  | 340,279
Right-of-use asset | ​ |  | (1,538) | ​ |  | (1,903)
In-process research and development | ​ |  | (6,403) | ​ |  | (603)
Gross deferred tax liabilities | ​ |  | (7,941) | ​ |  | (2,506)
Total net deferred tax asset | ​ |  | 422,283 | ​ |  | 337,773
Less valuation allowance | ​ |  | (423,385) | ​ |  | (337,773)
Net deferred tax assets (liabilities) | ​ | $ | (1,102) | ​ | $ | —
Reconciliation of the Company's unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Balance at beginning of year | ​ | $ | 16,838 | ​ | $ | 15,495 | ​ | $ | 13,243
Additions based on tax positions related to current year | ​ |  | 865 | ​ |  | 1,385 | ​ |  | 2,038
Additions (reductions) for tax positions of prior years | ​ |  | (286) | ​ |  | (42) | ​ |  | 214
Balance at end of year | ​ | $ | 17,417 | ​ | $ | 16,838 | ​ | $ | 15,495

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration