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Income taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
a.     Tax provision:
As of January 1, 2022, the effective place of daily management and control of the Company moved to Switzerland and the Company has become a Swiss tax resident. As a result, the income tax disclosures have been presented in accordance with the Company’s current country of tax residency.

Income (loss) before income taxes is as follows:
Year ended December 31,
 202420232022
Swiss$(205,310)$(281,685)$(269,621)
Non-Swiss74,148 89,945 187,775 
Total income (loss) before income taxes
$(131,162)$(191,740)$(81,846)
The provision (benefit) for income taxes from continuing operations is comprised of:
Year ended December 31,
 202420232022
Current:   
Swiss$3,862 $2,163 $469 
Non-Swiss33,603 13,140 10,219 
Total current$37,465 $15,303 $10,688 
Deferred:
Swiss$— — $— 
Non-Swiss— — — 
Total deferred— — — 
Total income tax provision$37,465 $15,303 $10,688 
b.     Theoretical tax
The Company's effective tax rate is affected by the tax rates in the various jurisdictions in which the Company operates. Under Swiss law, the Company is subject to income tax at the federal level at a statutory rate of 8.5% as well as at the cantonal and communal levels, resulting in an aggregate corporate tax rate of 11.9%.

For purposes of comparability, the Company used the Swiss federal statutory rate for the 2024, 2023 and 2022 tax years when presenting the Company's reconciliation of the income tax provision. 
A reconciliation of the provision for income taxes compared with the amounts at the Swiss rate was:

Year ended December 31,
 202420232022
Income (loss) before income taxes$(131,162)$(191,740)$(81,846)
Swiss federal statutory tax rate8.5 %8.5 %8.5 %
Income taxes at Swiss rate$(11,149)$(16,298)$(6,957)
Change in valuation allowance1,261,855 13,427 (14,238)
Unamortized intangible assets(1,240,745)— — 
Foreign taxes rate differential16,077 10,620 25,716 
Share based compensation13,551 2,332 5,318 
Research and development credits(3,130)(6,483)(4,898)
Effect of tax law change647 6 5,681 
Withholding Taxes350 435 548 
Return to provision true-ups(31)10,854 (1,020)
Other40 410 538 
Income tax expenses$37,465 $15,303 $10,688 
Effective tax rate(28.6)%(8.0)%(13.1)%
c.     Deferred income tax
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
December 31,
 20242023
Deferred tax assets:
  Unamortized intangible assets$1,394,195 $153,450 
  Net operating loss carryforwards$127,881 $99,743 
Impact of revenue recognition$68,347 $79,934 
  Share based compensation$35,470 $32,639 
Lease liabilities$6,518 $8,128 
  Capitalized research and development$4,036 $2,783 
  Research and development credits$1,613 $1,615 
  Other temporary differences$7,823 $7,809 
Total gross deferred tax assets$1,645,883 $386,101 
Less: valuation allowance(1,636,833)(375,375)
Total deferred tax assets9,050 10,726 
Deferred tax liabilities:
Right of use assets6,287 7,962 
Fixed assets2,692 1,914 
Other liabilities71 850 
Total gross deferred tax liabilities$9,050 $10,726 
Net deferred taxes assets (liability)$— $— 
(1)    The Company recorded an increase in the deferred tax asset related to unamortized intangible assets in the amount of $1,240,745. As of December 31, 2024, the balance of this deferred tax asset was offset by a full valuation allowance.
A valuation allowance is provided when it is more likely than not that the deferred tax assets will not be realized. The Company has established a full valuation allowance to offset the deferred tax assets at December 31, 2024 and 2023 due to the uncertainty of realizing future tax benefits. The net change in the total valuation allowance for the years ended December 31, 2024 and 2023 were 1,261,855 and 13,427, respectively.
d.     Carryforward loss:
In Switzerland, the Company had $1,061,639 of net operating carryforwards (NOLs) available at the Federal level, of which $1,033,880 are also available at the cantonal and communal level. These NOLs expire from 2026 through 2031. Additionally, the Company had $23,936 of non-Swiss NOLs as of December 31, 2024, of which $2,342 carry forward indefinitely,and the remainder expire from 2026 through 2041.
e.     Uncertain tax benefits:
A reconciliation of the beginning and ending balances of uncertain tax benefits is as follows:
 December 31,
 202420232022
Balance at beginning of the year$18 $76 $154 
Additions (reductions) for taxes positions related to prior years— (58)(78)
Balance at the end of the year$18 $18 $76 
The Company recognizes interest and penalties related to unrecognized tax benefits in tax expense. During the years ended December 31, 2024, 2023 and 2022, the Company accrued $0, $2 and $2, respectively, for interest and penalties expenses related to uncertain tax positions.
The Company files income tax returns in the Switzerland and various foreign jurisdictions. Currently, the Company is under examination by the tax authorities in Israel for the tax years 2019 and 2021 and is not under examination by any other tax authority. Additional tax years within the period from 2019 to 2023 remain subject to examination by the various tax authorities.