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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 income (loss) before income taxes | Domestic and foreign components of loss before income taxes are as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | (179,555) |  |  | $ | (122,026) |  |  | $ | (455,202) |
Foreign | (9,749) |  |  | (12,676) |  |  | (11,508) |
Loss before income taxes | $ | (189,304) |  |  | $ | (134,702) |  |  | $ | (466,710) |
Schedule of components of income tax (expense) benefit | The significant components of income tax (expense) benefit are as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | — |
State | — |  |  | — |  |  | — |
Foreign | — |  |  | — |  |  | — |
Total current | — |  |  | — |  |  | — |
Deferred: |  |  |  |  |
Federal | 10,391 |  |  | 10,236 |  |  | 38,508 |
State | 833 |  |  | 335 |  |  | 6,317 |
Foreign | 3,118 |  |  | 961 |  |  | 3,075 |
Change in uncertain tax positions | (625) |  |  | (1,320) |  |  | (587) |
Change in valuation allowance | (13,717) |  |  | (10,212) |  |  | (45,867) |
Total deferred | — |  |  | — |  |  | 1,446 |
Income tax benefit | $ | — |  |  | $ | — |  |  | $ | 1,446 |
Schedule of effective tax rate | The following table summarizes the significant differences between the U.S. federal statutory tax rate and our effective tax rate:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Tax benefit at federal statutory rate | 21.00 | % |  | 21.00 | % |  | 21.00 | %
State income taxes, net of federal benefit | — | % |  | (0.01) | % |  | 0.08 | %
Change in federal and state statutory rate | 1.69 | % |  | 0.01 | % |  | 0.15 | %
Foreign rate differential | 0.06 | % |  | (0.22) | % |  | 0.01 | %
Goodwill impairment | (13.06) | % |  | (10.94) | % |  | (17.82) | %
Contingent liability remeasurement | (0.78) | % |  | (0.81) | % |  | 5.71 | %
Other adjustments | (1.61) | % |  | (1.40) | % |  | 1.03 | %
Valuation allowance | (7.24) | % |  | (7.54) | % |  | (9.87) | %
Income tax benefit | 0.06 | % |  | 0.09 | % |  | 0.29 | %
Schedule of deferred income taxes | The significant components of deferred income taxes are as follows (in thousands):
| December 31,
| 2024 |  | 2023
Net operating loss carry-forwards | $ | 161,418 |  |  | $ | 158,916 |
Allowance for credit losses | 1,474 |  |  | 809 |
Depreciation and amortization | 23,233 |  |  | 11,574 |
Stock-based compensation | 3,025 |  |  | 3,566 |
Deferred costs | 740 |  |  | 3,735 |
ROU asset | (1,457) |  |  | (1,565) |
Lease liability | 1,867 |  |  | 1,856 |
Other tax credit carry-forward | 11,625 |  |  | 9,641 |
Other temporary differences | 1,451 |  |  | 1,129 |
Valuation allowance | (203,377) |  |  | (189,660) |
Net long-term deferred tax asset | $ | — |  |  | $ | — |
Summary of changes in valuation allowance | The following table presents changes in our valuation allowance (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Beginning balance | $ | (189,660) |  |  | $ | (179,448) |  |  | $ | (123,867) |
Allowance for domestic and foreign net operating loss carry-forwards | (299) |  |  | (2,442) |  |  | (13,360) |
Rate change on domestic net operating loss carry-forwards | (3,241) |  |  | (424) |  |  | 235 |
Convertible debt additional paid-in capital tax adjustment - valuation allowance impact | — |  |  | — |  |  | (9,714) |
Other changes | (10,177) |  |  | (7,346) |  |  | (32,742) |
Ending balance | $ | (203,377) |  |  | $ | (189,660) |  |  | $ | (179,448) |
Schedule of unrecognized tax benefits activity | The following table summarizes the activity related to our gross unrecognized tax benefits that would affect our effective tax rate, if recognized (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Beginning balance | $ | 2,925 |  |  | $ | 1,606 |  |  | $ | 1,128 |
Increase related to current year tax position | 625 |  |  | 1,319 |  |  | 478 |
Ending balance | $ | 3,550 |  |  | $ | 2,925 |  |  | $ | 1,606 |

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