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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Tax, Domestic And Foreign

The components of our income (loss) before income taxes were as follows (in thousands):

			Year Ended December 31,
			2024						2023
United States			$	17,707					$	(31,972)
Foreign			1,605						1,377
Income (loss) before income taxes			$	19,312					$	(30,595)

Schedule of Components Of Income Tax Provision (Benefit)

The federal, state and foreign income tax provision (benefit) is summarized as follows (in thousands):

			Year Ended December 31,
			2024						2023
Current:
Federal			$	—					$	—
State			(177)						68
Foreign			254						221
Total current			77						289
Deferred:
Federal			7,573						(2,164)
State			1,605						(506)
Foreign			—						—
Total deferred			9,178						(2,670)
Provision for (benefit from) income taxes			$	9,255					$	(2,381)

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rate of our provision for (benefit from) income taxes differs from the federal statutory rate as follows:

			Year Ended December 31,
			2024						2023
Statutory rate			21.0		%				21.0		%
State income taxes, net of federal benefit			4.4						2.8
Stock-based compensation shortfalls, net			11.0						(6.8)
Non-deductible stock-based compensation			7.4						(4.7)
Non-deductible lobbying expenses			1.4						(0.9)
Research and development credits			(3.3)						1.7
Changes in valuation allowance			1.6						(2.0)
Foreign income tax and income inclusion			0.8						(1.5)
Prior period adjustment			3.4						—
Other permanent differences			0.2						(1.8)
Effective tax rate			47.9		%				7.8		%

Schedule of Deferred Tax Assets And Liabilities

The tax effects of significant items comprising our deferred taxes as of December 31, 2024 and 2023 were as follows (in thousands):

			December 31, 2024						December 31, 2023
Deferred tax assets:
Net operating losses			$	160,610					$	154,607
Intangible assets			25,242						21,232
Research and development credits carryovers			13,466						12,493
Operating lease liabilities			6,912						8,458
Accruals and reserves			6,442						6,352
Fixed assets			982						1,069
Stock-based compensation			759						1,283
Other			2,809						2,279
Total deferred tax assets			217,222						207,773
Valuation allowance			(5,206)						(4,888)
Total deferred tax assets net of valuation allowance			212,016						202,885
Deferred tax liabilities:
Commissions receivable			(248,038)						(227,242)
Right-of-use assets			(2,848)						(5,330)
Total deferred tax liabilities			(250,886)						(232,572)
Net deferred tax liabilities			$	(38,870)					$	(29,687)

Schedule of Changes in Valuation Allowance

The change in our valuation allowance is summarized as follows for the years ended (in thousands):

Deferred Tax Assets - Valuation Allowance						Balance at beginning of year						Provision for income taxes						Write-offs and Deductions						Balance at end of year
December 31, 2024						$	4,888					$	361					$	(43)					$	5,206
December 31, 2023						4,287						643						(42)						4,888

Schedule of Operating Loss Carryforwards

The net operating loss and tax credit carryforwards as of December 31, 2024 are summarized as follows (in thousands):

						Amount						Expires
Net operating losses, federal (with expiration)						$	39,166					2034-2037
Net operating losses, federal (without expiration)						608,904						Indefinite
Net operating losses, state (with expiration)						433,374						2025-2044
Tax credits, federal						12,346						2025-2044
Tax credits, state						12,854						n/a

Schedule of Tax Credit Carryforwards

The net operating loss and tax credit carryforwards as of December 31, 2024 are summarized as follows (in thousands):

						Amount						Expires
Net operating losses, federal (with expiration)						$	39,166					2034-2037
Net operating losses, federal (without expiration)						608,904						Indefinite
Net operating losses, state (with expiration)						433,374						2025-2044
Tax credits, federal						12,346						2025-2044
Tax credits, state						12,854						n/a

Schedule Of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of our unrecognized tax benefits is as follows (in thousands):

			Year Ended December 31,
			2024						2023
Beginning balance			$	10,639					$	9,875
Reductions for tax positions of prior years			(363)						—
Lapse of statute of limitations			(91)						(36)
Additions based on tax positions related to the current year			948						800
Ending balance			$	11,133					$	10,639

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