Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income before income taxes and the provision for income taxes consisted of the following:

	Year Ended December 31,
	2023			2022			2021
(In thousands)
United States	$	(33,944	)	$	(100,609	)	$	42,219
International		14,808			18,587			23,285
Total	$	(19,136	)	$	(82,022	)	$	65,504

Schedule of Components of Income Tax Expense (Benefit)

	Year Ended December 31,
(In thousands)	2023		2022			2021
Current:
U.S. Federal	$	358	$	3,477		$	6,198
State		599		1,329			644
Foreign		2,423		4,236			5,000
		3,380		9,042			11,842
Deferred:
U.S. Federal		65,880		(18,761	)		4,607
State		15,629		(3,017	)		595
Foreign		742		(299	)		(927	)
		82,251		(22,077	)		4,275
Total	$	85,631	$	(13,035	)	$	16,117

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets consisted of the following:

	Year Ended December 31,
(In thousands)	2023			2022
Deferred Tax Assets:
Accruals and allowances	$	21,324		$	22,394
Net operating loss carryforwards		1,770			1,275
Stock-based compensation		2,312			3,074
Operating lease liability		7,315			8,834
Deferred revenue		2,085			1,258
Tax credit carryforwards		935			607
Acquired intangibles		18,664			21,722
Capitalized Research and Development		50,670			33,299
Depreciation and amortization		1,088			1,632
Other		4,392			4,338
Total deferred tax assets		110,555			98,433
Deferred Tax Liabilities:
Right of use asset		(6,179	)		(7,695	)
Other		(1,205	)		(984	)
Total deferred tax liabilities		(7,384	)		(8,679	)
Valuation Allowance(1)		(99,828	)		(4,050	)
Net deferred tax assets	$	3,343		$	85,704

(1)Valuation allowance is presented gross. The valuation allowance net of the federal tax effect was $95.7 million and $4.0 million for the years ended December 31, 2023 and 2022, respectively.

Schedule of Effective Income Tax Rate Reconciliation

The effective tax rate differed from the applicable U.S. statutory federal income tax rate as follows:

	Year Ended December 31,
	2023			2022			2021
Tax at federal statutory rate		21.0	%		21.0	%		21.0	%
State, net of federal benefit		(3.1	)%		1.7	%		1.4	%
Impact of international operations		8.3	%		2.7	%		(1.8	)%
Stock-based compensation		(2.3	)%		(2.7	)%		2.9	%
Tax credits		5.8	%		1.7	%		(1.9	)%
Valuation allowance		(474.3	)%		(0.3	)%		0.3	%
Goodwill impairment		—	%		(9.6	)%		—	%
State Valuation Allowance Release		—	%		—	%		—	%
Base Erosion Anti-Abuse Tax		—	%		—	%		3.7	%
Transaction Costs		—	%		—	%		(0.9	)%
Recognition of previously unrecognized tax benefits		(0.3	)%		1.8	%		0.0	%
Non-deductible License fees		(1.7	)%		(0.3	)%		0.1	%
Others		(0.9	)%		(0.1	)%		(0.2	)%
Provision for income taxes		(447.5	)%		15.9	%		24.6	%

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (“UTB”) is as follows:

(In thousands)	Federal, State, and Foreign Tax
Balance as of December 31, 2020	$	9,542
Additions based on tax positions related to the current year		463
Additions for tax positions of prior years		50
Reductions due to lapse of applicable statutes		(556	)
Adjustments due to foreign exchange rate movement		(295	)
Balance as of December 31, 2021		9,204
Additions based on tax positions related to the current year		805
Additions for tax positions of prior years		8
Settlements		(1,355	)
Reductions due to lapse of applicable statutes		(554	)
Adjustments due to foreign exchange rate movement		(174	)
Balance as of December 31, 2022		7,934
Additions based on tax positions related to the current year		426
Additions for tax positions of prior years		533
Reductions due to lapse of applicable statutes		(507	)
Adjustments due to foreign exchange rate movement		232
Balance as of December 31, 2023	$	8,618