Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of domestic and foreign components of loss before income taxes

The following table presents domestic and foreign components of income (loss) before provision for income taxes for the periods presented:

	Year Ended December 31,
	2025		2024		2023
	(In thousands)
United States	$	150,891	$	40,982	$	(816,089)
International	(95,797)		(129,595)		(180,640)
Income (loss) before provision for income taxes	$	55,094	$	(88,613)	$	(996,729)

Schedule of provision for income taxes

Provision for income taxes consists of the following:

	Year Ended December 31,
	2025		2024		2023
Current:	(In thousands)
Federal	$	341	$	5,617	$	2,567
State	1,515		2,305		1,533
Foreign	20,692		14,850		31,354
Total	22,548		22,772		35,454
Deferred:
Federal	95		196		(1,337)
State	(27)		149		(208)
Foreign	(1,356)		(2,327)		(15,197)
Total	(1,288)		(1,982)		(16,742)
Provision for income taxes	$	21,260	$	20,790	$	18,712

Schedule of reconciliation of the U.S. federal statutory income tax rate to our effective tax rate

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate for the year ended December 31, 2025, pursuant to the disclosure requirements of ASU 2023-09, is as follows:

	Year Ended December 31, 2025
	Amount (in thousands)		Percent
Tax at federal statutory rate	$	11,570	21	%
Federal:
Effect of cross-border tax laws:
Foreign income taxed in the United States, net of foreign tax deductions	(1,440)		(3)
Withholding taxes	157		—
Tax Credits:
Research and development tax credits	(40,879)		(74)
Changes in valuation allowance	36,651		67
Nontaxable or nondeductible items:
Excess benefit on share-based payment awards	(41,493)		(75)
Other share-based payment award related items	14,216		26
Other	1,651		3
Other adjustments	264		1
State and local taxes, net of federal income tax effect (1)	1,080		2
Foreign tax effects:
Ireland:
Statutory tax rate difference between Ireland and United States	9,473		17
Changes in valuation allowance	9,720		18
Foreign exchange gains/losses	7,394		13
Other	(580)		(1)
Brazil:
Withholding taxes	7,758		14
Other	1,213		2
Other foreign jurisdictions (2)	6,118		11
Worldwide changes in unrecognized tax benefits (gross)	(1,613)		(3)
Effective tax rate	$	21,260	39	%

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(1) State taxes in North Carolina and Texas made up the majority (greater than 50 percent) of the tax effect in this category.

(2) Other foreign jurisdictions is comprised of $2.6 million related to India. The remaining foreign jurisdictions are not significant.

A reconciliation of the U.S. federal statutory income tax rates to the Company’s effective tax rate for the years ended December 31, 2024 and 2023, pursuant to previous disclosure requirements, is as follows:

	Year Ended December 31,
	2024		2023
Tax at federal statutory rate	21	%	21	%
State tax, net of federal benefit	1		3
Stock-based compensation	(40)		(7)
Credits	20		2
Foreign rate differential	(67)		1
Permanent book vs. tax differences	8		—
Change in valuation allowance	32		(23)
Other	2		1
Effective tax rate	(23)	%	(2)	%

Schedule of cash paid for income taxes, net of refunds

Cash paid for income taxes, net of refunds, by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:

	Year Ended December 31, 2025
	(In thousands)
U.S. federal taxes	$	3,157
U.S. state taxes	3,973
Non-U.S. taxes	10,581
Total income taxes paid, net	$	17,711

Income taxes paid exceeds 5% of total income taxes paid, net of refunds, in the following jurisdictions:

	Year Ended December 31, 2025
	(In thousands)
U.S. State
California	$	1,723
Non-U.S.
Brazil	$	2,446
Colombia	$	1,879
Japan	$	1,678
India	$	3,706

Schedule of deferred tax assets and liabilities

The following table presents the significant components of the Company's deferred tax assets and liabilities:

	As of December 31,
	2025		2024
Deferred tax assets:	(In thousands)
Net operating loss carryforwards	$	818,284	$	810,278
Accruals and reserves	80,185		73,535
Stock-based compensation	31,673		28,238
Research and development credits	237,447		175,746
Intangibles	135,500		135,500
Capitalized research and development expenses	230,302		299,061
Lease liability	21,499		30,697
Investments and other basis differences	126,369		81,248
Other	8,992		18,139
Gross deferred tax assets	1,690,251		1,652,442
Valuation allowance	(1,554,727)		(1,488,328)
Net deferred tax assets	135,524		164,114
Deferred tax liabilities:
Capitalized software	(39,022)		(38,394)
Prepaid expenses	(863)		(900)
Acquired intangibles	(32,633)		(55,283)
Right-of-use asset	(8,913)		(13,112)
Deferred commissions	(37,173)		(42,313)
Net deferred tax asset	$	16,920	$	14,112

Schedule of operating loss carryforwards

The following table summarizes the Company’s tax carryforwards, carryovers and credits:

	As of December 31, 2025		Expiration Date (If not utilized)
	(In thousands)
Federal tax credits	$	205,987	Various dates beginning in 2038
Federal net operating loss carryforwards	$	2,866,460	Indefinite
State net operating loss carryforwards	$	2,400,985	Various dates beginning in 2026
State tax credits	$	155,404	Various dates beginning in 2029
Foreign net operating loss carryforwards	$	965,615	Indefinite

Schedule of tax credit carryforwards

The following table summarizes the Company’s tax carryforwards, carryovers and credits:

	As of December 31, 2025		Expiration Date (If not utilized)
	(In thousands)
Federal tax credits	$	205,987	Various dates beginning in 2038
Federal net operating loss carryforwards	$	2,866,460	Indefinite
State net operating loss carryforwards	$	2,400,985	Various dates beginning in 2026
State tax credits	$	155,404	Various dates beginning in 2029
Foreign net operating loss carryforwards	$	965,615	Indefinite

Schedule of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	Year Ended December 31,
	2025		2024		2023
	(In thousands)
Unrecognized tax benefit, beginning of year	$	252,208	$	233,778	$	228,966
Gross increases for tax positions of prior years	6,647		7,476		3,427
Gross decreases for tax positions of prior years	(1,085)		(198)		(5,130)
Gross increases for tax positions of current year	24,889		13,253		7,754
Gross decreases for tax positions of current year	(168)		—		—
Lapse of statute of limitations	(1,795)		(2,101)		(1,239)
Unrecognized tax benefit, end of year	$	280,696	$	252,208	$	233,778