v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
Loss before income tax provision (benefit) consisted of the following (in thousands):
Year ended December 31,
202420232022
United States$(56,114)$(125,715)$(91,210)
Foreign6,673 1,617 2,210 
Total
$(49,441)$(124,098)$(89,000)
Schedule of Components of Income Tax Expense (Benefit)
The provision (benefit) for income taxes consisted of the following (in thousands):
Year ended December 31,
202420232022
Current
Federal
$87 $700 $— 
State
1,153 937 327 
Foreign
5,003 1,838 1,020 
Total Current6,243 3,475 $1347 
Deferred
Foreign
(642)(48)600 
Total Deferred$(642)$(48)$600 
Total$5,601 $3,427 $1,947 
Schedule of Effective Income Tax Rate Reconciliation
The items accounting for the difference between income taxes computed at the federal statutory income tax rate and the provision for income taxes consisted of the following (in thousands):
Year ended December 31,
202420232022
Federal statutory rate21.0 %21.0 %21.0 %
Effect of:
Tax benefit at federal statutory rate
$(10,383)$(26,061)$(18,690)
State taxes, net of federal benefit
(3,113)(8,397)(5,722)
Section 162(m) limitations5,518 11,715 6,083 
Stock-based compensation(3,052)(9,652)(9,250)
Net impact of global intangible low-taxed income inclusion
911 2,259 2,850 
Induced conversion
— 8,834 — 
Meals & entertainment
971 821 263 
Base erosion waived deductions
3,452 — — 
Permanent items
502 (108)85 
Tax benefit of federal R&D credit
(7,271)(8,036)(6,406)
Effect of foreign operations
3,194 1,337 (194)
Valuation allowance
15,385 30,636 32,896 
Other
(513)79 32 
Total income tax provision$5,601 $3,427 $1,947 
Schedule of Deferred Tax Assets and Liabilities
The components of deferred tax assets and liabilities were as follows (in thousands):
As of December 31,
20242023
Deferred tax assets:
Property and equipment
$3,133 $3,018 
Accruals and reserves
255 124 
Lease liability
6,554 6,815 
Compensation and benefits
20,720 16,756 
Deferred revenue
50,163 42,332 
Net operating loss and credits
99,037 120,021 
IRC 174 Capitalization101,865 73,680 
Other
2,287 654 
Total deferred tax assets
284,014 263,400 
Valuation allowance
(266,956)(248,279)
Total deferred tax assets
17,058 15,121 
Deferred tax liabilities:
Right-of-use asset(6,412)(6,589)
Acquired intangibles
(2,920)(604)
Deferred commissions(6,572)(7,265)
Other deferred tax liabilities
(441)(566)
Deferred tax liabilities
(16,345)(15,024)
Total$713 $97 
Schedule of Unrecognized Tax Benefits
A reconciliation of the gross unrecognized tax benefits is as follows (in thousands):
Year ended December 31,
202420232022
Unrecognized tax benefits-beginning of period$2,276 $1,870 $180 
Additions for tax positions related to prior year—2001,400
Reductions for tax positions related to prior year
(100)——
Foreign currency adjustments
(10)6(10)
Additions for tax positions related to current year
600200300
Unrecognized tax benefits-end of period$2,766 $2,276 $1,870