v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of components of loss before income taxes
The components of loss before income taxes are as follows (in thousands):
Year Ended December 31,
202420232022
Domestic$(63,221)$(64,497)$(49,177)
Foreign1,920 (1,281)(697)
Loss before income taxes$(61,301)$(65,778)$(49,874)
Schedule of effective income tax rate reconciliation
A reconciliation of the difference between the federal statutory rate and the effective income tax rate as a percentage of income before taxes for the years ended December 31, 2024, 2023, and 2022 is as follows (in thousands):
Year Ended December 31,
202420232022
AmountTax RateAmountTax RateAmountTax Rate
Federal statutory income tax$(12,873)21.00 %$(13,813)21.00 %$(10,474)21.00 %
State income tax, net of federal tax benefit(329)0.54 (2,423)3.68 (1,863)3.74 
Foreign tax79 (0.13)(75)0.11 43 (0.09)
Section 162(m) limitation845 (1.38)1,693 (2.57)2,371 (4.75)
Other337 (0.54)304 (0.46)687 (1.38)
Valuation allowance net of deferred tax assets5,367 (8.76)18,389 (27.96)12,075 (24.21)
Stock-based compensation10,817 (17.65)2,051 (3.12)(2,412)4.84 
R&D Credit(2,696)4.40 (6,100)9.27 — — 
Acquisitions— — 603 (0.92)— — 
Return to provision(877)1.43 20 (0.03)(61)0.12 
Effective income tax rate$670 (1.1)%$649 (1.0)%$366 (0.7)%
Schedule of deferred tax assets and liabilities Significant components of the Company’s deferred taxes at December 31, 2024 and 2023 are as follows (in thousands):
As of December 31,
20242023
Deferred tax assets
Net operating loss carryforwards$79,172 $77,309 
Research & Development Costs22,629 15,001 
Operating lease liability4,487 4,677 
Stock-based compensation4,555 6,073 
Research & Development Credits9,753 7,368 
Other2,543 1,892 
Total deferred tax assets123,139 112,320 
Deferred tax liabilities
Fixed assets
(1,747)(1,671)
Intangible assets
(4,939)(6,056)
Deferred commissions and bonus(18,634)(13,261)
Operating lease right-of-use asset(2,785)(2,145)
Other(1,303)(823)
Total deferred tax liabilities(29,408)(23,956)
Less: Valuation allowance(94,037)(88,670)
Net deferred tax asset (liability)$(306)$(306)
Schedule of Unrecognized Tax Benefits Roll Forward
The reconciliation of uncertain tax positions at the beginning and end of the years below is as follows (in thousands):
As of December 31,
20242023
Beginning balance2,456 — 
Gross increase (decrease) related to prior year positions— — 
Gross decrease related to settlements— — 
Gross increase related to current year positions898 2,456 
Ending balance3,354 2,456 
Schedule of Components of Income Tax Expense (Benefit)
The components of income tax expense (benefit) are as follows (in thousands):
Year Ended December 31,
202420232022
Current taxes
Federal
$— $— $— 
State
13 — — 
Foreign
657 820 366 
Current tax expense (benefit)
670 820 366 
Deferred taxes
Federal
86 — — 
State
— — — 
Foreign
(86)(171)— 
Deferred tax expense (benefit)
— (171)— 
Income tax expense (benefit)
$670 $649 $366