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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Loss before income taxes for the years ended December 31 consisted of the following (in thousands):


	2020		2019		2018
Domestic	$	(111,101)	$	(41,720)	$	(78,124)
Foreign	1,276		1,293		973
Loss before income taxes	$	(109,825)	$	(40,427)	$	(77,151)

Significant Components of our Provision for Income Taxes

Significant components of our provision for income taxes for the years ended December 31 are as follows (in thousands):


	2020		2019		2018
Current:
Domestic	$	—	$	—	$	—
Foreign	253		269		249
Total provision for income taxes	$	253	$	269	$	249

Income Tax Expense (Benefit) Differed from Amounts Computed by Applying Statutory Federal Income Tax Rate

A reconciliation of the federal statutory income tax rate to the effective income tax rate for the years ended December 31 are as follows (in thousands):


	2020		2019		2018
Income tax provision at federal statutory rate	$	(23,063)	$	(8,490)	$	(16,202)
Tax on repatriated foreign earnings and other nondeductible items	348		403		195
Section 162(m) limitations	5,044		1,438		—
Change in tax credits	3,123		(3,738)		(2,148)
Change in valuation allowance	21,707		17,842		19,935
Changes in federal and state tax rates	586		(4,058)		—
Stock option exercise (windfall) shortfall	(7,683)		(1,763)		257
Adjustments to deferred stock compensation	3,060		—		—
State and Foreign tax, and other	(2,869)		(1,365)		(1,788)
Total provision for income taxes	$	253	$	269	$	249

Effect of Temporary Differences and Carryforwards

The effect of temporary differences and carryforwards that give rise to deferred tax assets and liabilities for the years ended December 31 were as follows (in thousands):


	2020		2019
Deferred tax assets:
Net operating loss carryforwards	$	100,927	$	73,310
Research and development tax credit carryforwards	9,513		12,636
Operating lease liability	6,962		7,653
Stock-based compensation	5,161		9,680
Foreign tax credit carryforwards	648		633
Accruals and other	8,138		8,219
Total deferred tax assets before allowance	131,349		112,131
Less: Valuation allowance	(114,275)		(106,438)
Deferred tax assets, net	17,074		5,693
Deferred tax liabilities:
Debt discount (equity component)	12,045		—
Right of use asset	5,029		5,693
Deferred tax liability	17,074		5,693
Net deferred tax assets and liabilities	$	—	$	—

Summary of Changes in Deferred Tax Asset Valuation Allowance

The table below summarizes changes in the deferred tax asset valuation allowance for the years ended December 31 (in thousands):


	2020		2019		2018
Balance at beginning of year	$	106,438	$	88,596	$	68,661
Charged to costs and expenses	8,423		13,784		19,935
Impact of change in tax rate	(586)		4,058		—
Balance at end of year	$	114,275	$	106,438	$	88,596

Total Balance of Unrecognized Gross Tax Benefits Resulting from R&D Credits Claimed

The total balance of unrecognized gross tax benefits for the years ended December 31, resulting from research and development tax credits claimed on the Company’s annual tax return was as follows (in thousands):


	2020		2019		2018
Unrecognized tax benefits at beginning of year	$	4,212	$	2,830	$	2,168
Additions based on current year tax positions	4,959		1,382		662
Unrecognized tax benefits at end of year	$	9,171	$	4,212	$	2,830