XML 43 R31.htm IDEA: XBRL DOCUMENT v3.22.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Schedule of effective tax rates differing from U.S. federal statutory rate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

​

    

2022

    

​

2021

​

    

2020

​

​

​

(in thousands, except percentages)

​

U.S. federal taxes (benefit) at statutory rate

​

$

(114,832)

​

(21.00)

%  

​

$

(98,931)

​

(21.00)

%  

​

$

(48,226)

    

(21.00)

%

State tax expense

​

​

(21,676)

​

(3.96)

%  

​

​

(29,206)

​

(6.20)

%  

​

​

(10,672)

​

(4.65)

%

Research and development credits

​

​

(7,024)

​

(1.28)

%  

​

​

(9,193)

​

(1.95)

%  

​

​

(3,964)

​

(1.73)

%

Stock-based compensation

​

​

3,949

​

0.72

%  

​

​

(46,128)

​

(9.80)

%  

​

​

(23,791)

​

(10.36)

%

Foreign tax

​

​

332

​

0.06

%

​

​

167

​

0.04

%

​

​

55

​

0.02

%

Other nondeductible items

​

​

1,964

​

0.36

%  

​

​

344

​

0.07

%  

​

​

792

​

0.35

%

Nondeductible officers' compensation

​

​

4,883

​

0.89

%  

​

​

24,387

​

5.18

%  

​

​

8,984

​

3.91

%  

Acquisition costs

​

​

3,226

​

0.59

%  

​

​

8,901

​

2

%  

​

​

—

​

—

%  

Change in valuation allowance

​

​

130,156

​

23.80

%  

​

​

150,277

​

31.90

%  

​

​

76,920

​

33.50

%

Provision for income taxes

​

$

978

​

0.18

%  

​

$

618

​

0.13

%

​

$

98

​

0.04

%

​

Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

​

    

​

​

    

2022

​

2021

​

​

​

​

​

​

(in thousands)

​

Deferred tax assets:

​

​

​

​

​

​

​

​

​

​

Net operating loss carryforwards

​

​

​

​

$

358,109

​

$

315,552

​

Intangibles

​

​

​

​

​

4,068

​

​

4,443

​

Research and development tax credit carryforwards

​

​

​

​

​

52,319

​

​

38,725

​

Capitalized research costs

​

​

​

​

​

59,128

​

​

—

​

Reserves and accruals

​

​

​

​

​

22,781

​

​

14,098

​

Lease Liabilities

​

​

​

​

​

21,000

​

​

16,843

​

Deferred revenue

​

​

​

​

​

5,094

​

​

6,363

​

Stock-based compensation

​

​

​

​

​

23,814

​

​

15,928

​

Total deferred tax assets before valuation allowance

​

​

​

​

​

546,313

​

​

411,952

​

Less: valuation allowance

​

​

​

​

​

(526,235)

​

​

(396,079)

​

Total deferred tax assets after valuation allowance

​

​

​

​

​

20,078

​

​

15,873

​

Deferred tax liabilities:

​

​

​

​

​

​

​

​

​

​

Fixed Assets

​

​

​

​

​

(1,219)

​

​

—

​

Right-of-use lease assets

​

​

​

​

​

(18,859)

​

​

(15,873)

​

Total deferred tax liabilities

​

​

​

​

​

(20,078)

​

​

(15,873)

​

Net deferred tax assets

​

​

​

​

$

—

​

$

—

​

​

Schedule of reconciliation of the beginning and ending amount of gross unrecognized tax benefits

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31,

​

​

    

2022

    

2021

​

2020

 

​

​

(in thousands)

​

Balance at beginning of year

​

$

17,514

​

$

11,500

​

$

8,619

​

Additions based on tax positions related to the current year

​

​

6,301

​

​

6,017

​

​

2,889

​

Additions (reductions) for tax positions of prior years

​

​

29

​

​

(3)

​

​

(8)

​

Balance at end of year

​

$

23,844

​

$

17,514

​

$

11,500

​

​