Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax

For financial reporting purposes, Loss before (benefits) provision for income taxes, includes the following components:

	Year Ended December 31,
	2021		2020		2019
Domestic	$	(200,485)	$	(145,395)	$	(23,605)
Foreign	112		—		—
Total	$	(200,373)	$	(145,395)	$	(23,605)

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consists of the following:

	Year Ended December 31,
	2021		2020		2019
Current:
Federal	$	—	$	—	$	—
State	214		115		—
Foreign	23		—		—
Total Current	237		115		—
Deferred:
Federal	(17,182)		—		—
State	(2,051)		—		—
Foreign	—		—		—
Total Deferred	(19,233)		—		—
Provision for income taxes	$	(18,996)	$	115	$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the Company’s effective tax rate to the statutory U.S. federal rate of 21% is as follows:

	Year Ended December 31,
	2021		2020		2019
U.S. Federal provision (benefit)
At statutory rate	$	(42,125)	$	(30,533)	$	(5,956)
State taxes	(1,481)		90		—
Valuation allowance	38,456		26,245		6,320
Stock based compensation	(1,834)		(7,257)		(182)
Permanent differences related to fair value adjustments	(18,464)		8,573		—
Other permanent differences	6,452		2,997		(182)
Total	$	(18,996)	$	115	$	—

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of loss and credit carryforwards and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities for federal and state income taxes are as follows:

	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	105,317	$	47,864
Stock-based compensation	2,682		2,492
Reserves and accruals	5,154		1,239
Lease liabilities	3,750		—
Other	632		291
Total deferred tax assets	$	117,535	$	51,886
Less: valuation allowance	(95,857)		(51,859)
Deferred tax assets, net of valuation allowance	$	21,678	$	27
Deferred tax liabilities:
Intangibles	(18,930)		—
Property and Equipment	(120)		(27)
Right of use assets	(3,471)		—
Total deferred tax liabilities	(22,521)		(27)
Net deferred tax assets	$	(843)	$	—