Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

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

The following table presents components of loss before provision for (benefit from) income taxes for the periods presented (in thousands):

	Year Ended December 31,
	2023		2022		2021
United States	$	(571,265)	$	(445,720)	$	(239,855)
International	1,692		453		607
Loss before provision for (benefit from) income taxes	$	(569,573)	$	(445,267)	$	(239,248)

Schedule of Provision for Benefit From Income Taxes

Provision for (benefit from) income taxes for the periods presented consisted of (in thousands):

	Year Ended December 31,
	2023		2022		2021
Current:
U.S. federal	$	(150)	$	—	$	—
U.S. state	(56)		—		—
Foreign	1,966		440		—
Total current:	1,760		440		—
Deferred:
U.S. federal	(43)		204		(1,262)
U.S. state	(21)		28		—
Total deferred:	(64)		232		(1,262)
Total provision for (benefit from) income taxes	$	1,696	$	672	$	(1,262)

Schedule of Effective Tax Rate

The reconciliation between the U.S. federal statutory income tax rate of 21% to the Company’s effective tax for the periods presented is as follows:

	Year Ended December 31,
	2023		2022		2021
U.S. federal provision at statutory rate	21.0	%	21.0	%	21.0	%
State income taxes	5.2		5.7		4.4
Foreign taxes	(0.1)		0.0		0.0
Tax credits	1.0		2.4		1.5
Fair value of financial instruments	0.1		0.4		(2.3)
Stock-based compensation expense	(3.7)		(3.4)		2.0
Executive compensation	(0.5)		(0.8)		(1.1)
Other permanent items	(0.2)		0.2		(0.3)
Unrecognized tax benefits	0.3		(1.4)		(0.8)
Change in valuation allowance	(23.4)		(24.3)		(24.0)
Effective tax rate	(0.3	%)	(0.2	%)	0.4	%

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred income tax assets and liabilities as of December 31, 2023 and 2022 were as follows (in thousands):

	Year Ended December 31,
	2023		2022
Deferred tax assets:
Net operating loss carry forward	$	235,624	$	161,881
Tax credits	27,311		16,322
Accruals and reserves	3,473		3,309
Stock-based compensation expense	17,029		14,535
Lease liability (ASC 842)	12,333		6,268
Section 174 R&D capitalization	78,673		43,240
Inventory reserves	4,584		1,961
Depreciation and amortization	9,924		2,170
Other	24		20
Total deferred tax assets	388,975		249,706
Valuation allowance	(377,214)		(243,811)
Total deferred tax asset	11,761		5,895
Deferred tax liabilities:
Other	124		162
ROU asset (ASC 842)	11,637		5,801
Total deferred tax liabilities	11,761		5,963
Net deferred tax assets (liabilities)	$	—	$	(68)

Schedule of Reconciliation of the Total Amounts of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):

	Year Ended December 31,
	2023		2022		2021
Unrecognized tax benefits as of the beginning of the year	$	8,604	$	6,296	$	3,975
Increases related to prior year tax positions	65		—		535
Decreases related to prior year tax provisions	(4,230)		(3,723)		—
Increase related to current year tax positions	2,389		6,031		1,786
Unrecognized tax benefits as of the end of the year	$	6,828	$	8,604	$	6,296