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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Components of Current and Deferred Portions of Provision for Income Taxes | The components of our current and deferred portions of the provision for income taxes are presented in the table below:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Current income tax (provision) benefit: |  |  |  |  |  |  |  |  |
Federal |  | $ | (40 | ) |  | $ | (237 | ) |  | $ | — |
State |  |  | (115 | ) |  |  | (167 | ) |  |  | (22 | )
Foreign |  |  | (2,847 | ) |  |  | (3,614 | ) |  |  | (3,256 | )
Total Current |  | $ | (3,002 | ) |  | $ | (4,018 | ) |  | $ | (3,278 | )
Deferred income tax (provision) benefit: |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State |  |  | — |  |  |  | — |  |  |  | — |
Foreign |  |  | 251 |  |  |  | 158 |  |  |  | 3,214 |
Total Deferred |  | $ | 251 |  |  | $ | 158 |  |  | $ | 3,214 |
Total provision for income taxes |  | $ | (2,751 | ) |  | $ | (3,860 | ) |  | $ | (64 | )
Summary of Reconciliation of Federal Statutory Rate and Provision for Income Taxes | The following reconciles the differences between income taxes computed at the federal statutory rate and the provision for income taxes:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Federal statutory income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State taxes, net of federal benefit |  |  | 0.0 |  |  |  | 1.1 |  |  |  | 3.7 |
Valuation allowance |  |  | (20.4 | ) |  |  | (7.1 | ) |  |  | (18.5 | )
Stock-based compensation |  |  | (2.3 | ) |  |  | (1.3 | ) |  |  | (5.1 | )
Permanent differences |  |  | (2.0 | ) |  |  | (14.0 | ) |  |  | (0.7 | )
Research and development credit |  |  | 5.3 |  |  |  | 0.0 |  |  |  | 0.0 |
Other |  |  | (2.9 | ) |  |  | (0.3 | ) |  |  | (0.4 | )
Effective income tax rate |  |  | (1.3 | )% |  |  | (0.6 | )% |  |  | — | %
Summary of Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company's deferred tax assets and liabilities were as follows:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 258,002 |  |  | $ | 229,264 |
Research and development credit carryforwards |  |  | 15,234 |  |  |  | 1,660 |
Deferred revenue |  |  | 298 |  |  |  | 2,687 |
Deferred compensation |  |  | 7,571 |  |  |  | 5,687 |
Leasing obligation |  |  | 2,138 |  |  |  | 3,087 |
Capitalized research expense |  |  | 45,670 |  |  |  | 43,476 |
Other |  |  | 3,736 |  |  |  | 2,415 |
Total deferred tax assets |  |  | 332,648 |  |  |  | 288,276 |
Total valuation allowance |  |  | 313,147 |  |  |  | 263,001 |
Total net deferred tax assets |  |  | 19,501 |  |  |  | 25,275 |
Joint venture investment basis difference |  |  | (841 | ) |  |  | (1,054 | )
Intangibles |  |  | (15,800 | ) |  |  | (20,879 | )
Right-of-use assets |  |  | (1,878 | ) |  |  | (2,738 | )
Other |  |  | (2,006 | ) |  |  | (1,902 | )
Total deferred tax assets (liabilities) |  |  | (20,525 | ) |  |  | (26,573 | )
Net deferred tax liabilities |  | $ | (1,024 | ) |  | $ | (1,298 | )
Summary of Changes in Valuation Allowance for Deferred Tax Assets | Changes in the valuation allowance for deferred tax assets during the years ended December 31, 2024, 2023 and 2022 related primarily to the increase in net operating loss carryforwards in 2024, 2023 and 2022 and were as follows:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Valuation allowance as of beginning of the year |  | $ | 263,001 |  |  | $ | 214,776 |  |  | $ | 164,391 |
Increases recorded to income tax provision |  |  | 50,146 |  |  |  | 48,225 |  |  |  | 50,403 |
Decreases recorded as a benefit to income tax provision |  |  | — |  |  |  | — |  |  |  | (18 | )
Valuation allowance as of end of year |  | $ | 313,147 |  |  | $ | 263,001 |  |  | $ | 214,776 |

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