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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Income before Income Tax, Domestic and Foreign

Loss before income tax provision (benefit) consisted of the following (in thousands):


	For the year ended December 31,
	2023		2022		2021
United States	$	(125,715)	$	(91,210)	$	(41,567)
Foreign	1,617		2,210		2,467
Total	$	(124,098)	$	(89,000)	$	(39,100)

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consisted of the following (in thousands):


	For the year ended December 31,
	2023		2022		2021
Current
Federal	$	700	$	—	$	—
State	937		327		98
Foreign	1,838		1,020		479
Total Current	3,475		1,347		$	577

Deferred
Federal	$	—	$	—	$	(1,252)
State	—		—		(374)
Foreign	(48)		600		(321)
Total Deferred	$	(48)	$	600	$	(1,947)

Total	$	3,427	$	1,947	$	(1,370)

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):


	For the year ended December 31,
	2023			2022			2021
Federal statutory rate	21.0		%	21.0		%	21.0		%
Effect of:
Tax benefit at federal statutory rate	$	(26,061)		$	(18,690)		$	(8,211)
State taxes, net of federal benefit	(8,397)			(5,722)			(15,350)
Section 162(m) limitations	11,715			6,083			9,008
Stock-based compensation	(10,192)			(9,768)			(49,020)
Global intangible low-taxed income inclusion	2,259			2,850			2,023
Induced conversion	8,834			—			—
Meals & entertainment	821			263			33
Permanent items	432			603			(634)
Tax benefit of federal R&D credit	(8,036)			(6,406)			(3,694)
Foreign income taxes	1,677			256			390
Valuation allowance	30,636			32,896			64,602
Other	(261)			(418)			(517)
Total income tax provision	$	3,427		$	1,947		$	(1,370)

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were as follows (in thousands):


	As of December 31,
	2023		2022
Deferred tax assets:
Property and equipment	$	3,018	$	2,931
Accruals and reserves	124		79
Lease liability	6,815		7,726
Compensation and benefits	16,756		15,031
Deferred revenue	42,332		31,497
Net operating loss and credits	120,021		138,517
Interest expense	80		386
IRC 174 Capitalization	73,680		38,923
Other	574		2,198
Total deferred tax assets	263,400		237,288
Valuation allowance	(248,279)		(220,016)
Total deferred tax assets	15,121		17,272
Deferred tax liabilities:
Property and equipment	(85)		(104)
Right-of-use asset	(6,589)		(7,389)
Acquired intangibles	(604)		(1,310)
Deferred commissions	(7,265)		(8,212)
Other deferred tax liabilities	(481)		(179)
Deferred tax liabilities	(15,024)		(17,194)
Total	$	97	$	78

Schedule of Unrecognized Tax Benefits

A reconciliation of the gross unrecognized tax benefits is as follows (in thousands):


	For the year ended December 31,
	2023		2022		2021
Unrecognized tax benefits-beginning of period	$	1,870	$	180	$	195
Additions for tax positions related to prior year	200		1,400		—
Reductions for tax positions related to prior year	—		—		—
Foreign currency adjustments	6		(10)		(15)
Additions for tax positions related to current year	200		300		—
Unrecognized tax benefits-end of period	$	2,276	$	1,870	$	180