Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Loss Before (Provision For) Benefit from Income Taxes

Loss before (provision for) benefit from income taxes consists of the following (in thousands):

	Years Ended December 31,
	2025		2024		2023
Domestic	$	(448,370)	$	(499,680)	$	(608,134)
Foreign	10,600		(23,425)		(20,060)
Total loss before (provision for) benefit from income taxes	$	(437,770)	$	(523,105)	$	(628,194)

Schedule of Components of (Provision For) Benefit from Income Taxes

The components of (provision for) benefit from income taxes consist of the following (in thousands):

	Years Ended December 31,
	2025		2024		2023
Current:
Federal	$	(162)	$	(965)	$	12,774
State	(12)		1,254		(685)
Foreign	261		(2,093)		(75)
	87		(1,804)		12,014
Deferred:
Federal	(302)		2,105		406
State	—		900		598
Foreign	(2)		(56)		59
	(304)		2,949		1,063
(Provision for) benefit from income taxes	$	(217)	$	1,145	$	13,077

Schedule of Income Taxes Paid

Income taxes paid consists of following (in thousands):

	Year Ended December 31 2025
Federal	$	—
State	73
Foreign (Switzerland)	2,347
Total	$	2,420

Schedule of Reconciliation Between Federal Statutory Rate and Effective Income Tax Rate

A reconciliation between the U.S. federal statutory income tax provision and rate and the reported effective income tax provision and rate for the year ended December 31, 2025 is as follows (in thousands, except for percentages). The Company's effective tax rate of (0.03)% for the year ended December 31, 2025 is primarily due to the movement of valuation allowance and nondeductible stock compensation expense.

	Year Ended December 31 2025
Provision at US federal statutory rate	$	(91,933)	21.00	%
State and local income taxes, net of federal income tax effect	9		—
Foreign tax effects	(2,224)		0.51
Effect of cross-border tax laws: GILTI	3,559		(0.81)
Tax credits: research and development credit	(3,904)		0.89
Change in valuation allowance	76,305		(17.43)
Nontaxable or nondeductible items
Stock-based compensation	15,335		(3.50)
Other permanent items	3,169		(0.72)
Changes in unrecognized tax benefits	1,025		(0.23)
Other adjustments	(1,124)		0.26
Income tax provision and effective tax rate	$	217	(0.03	%)

    

As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows.

	Years Ended December 31,
	2024		2023
U.S. federal statutory income tax rate	21.0	%	21.0	%
Foreign tax at less than federal statutory rate	(0.1)		—
State taxes, net of federal benefit	(0.7)		5.3
Research and development tax credit	2.4		2.4
Permanent items	(2.4)		(1.6)
Changes in valuation allowance	(18.5)		(24.2)
Other adjustments	(1.5)		(0.8)
Effective income tax rate	0.2	%	2.1	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities as of December 31, 2025, and 2024, are related to the following (in thousands):

	December 31,
	2025		2024
Deferred tax assets:
Net operating loss carryforwards	$	294,591	$	180,130
Capitalized research and development	118,473		175,835
Intangible assets	61,266		40,593
Research and development tax credit carryforward	35,578		30,549
Equity compensations	14,779		23,776
Lease liabilities	18,274		20,502
Reserves and accruals	6,712		7,543
Valuation allowance	(527,114)		(453,394)
Deferred tax assets	22,559		25,534
Deferred tax liabilities:
ROU assets	(10,916)		(12,219)
Property and equipment	(9,004)		(10,628)
IPR&D	(1,928)		(1,928)
Other	(257)		—
Deferred tax liabilities	(22,105)		(24,775)
Net deferred tax assets	$	454	$	759

Schedule of Reconciliation of Liability for Uncertain Tax Positions

A reconciliation of the beginning and ending amounts of the liability for uncertain tax positions is as follows (in thousands):

	Years Ended December 31,
	2025		2024		2023
Gross unrecognized tax benefits at January 1	$	17,946	$	13,583	$	10,638
Addition for tax positions taken in the prior years	—		2,014		29
Reduction for tax positions taken in the prior years	(2,221)		(20)		—
Addition for tax positions taken in current year	1,611		2,369		2,916
Gross unrecognized tax benefits at December 31	$	17,336	$	17,946	$	13,583