Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of income (loss) before provision for income taxes

Income (loss) before provision for income taxes consisted of the following (in thousands):

	Year ended December 31,
	2024		2023		2022
Federal	$	(72,923)	$	(133,961)	$	(169,122)
Foreign	399		343		441
Loss before provision for income taxes	$	(72,524)	$	(133,618)	$	(168,681)

Schedule of reconciliation of the statutory income tax rate to the effective income tax rate

A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows:

	Year ended December 31,
	2024		2023		2022
Income at U.S. statutory rate	21.00	%	21.00	%	21.00	%
State taxes, net of federal benefit	0.39		4.65		2.21
Stock compensation	(6.41)		(2.57)		(5.01)
Change in fair value of warrants	(0.54)		0.71		2.60
Tax credits	2.58		1.74		2.16
Valuation allowance	(11.93)		(25.47)		(22.91)
Return to provision	(3.45)		—		—
Other	(1.60)		(0.12)		(0.08)
	0.04	%	(0.06)	%	(0.03)	%

Schedule of net deferred tax assets

Net deferred tax assets as of December 31, 2024 and 2023 consisted of the following (in thousands):

	Year ended December 31,
	2024		2023
Deferred tax assets
Net operating loss carryforwards	$	158,097	$	151,230
Tax credits	18,114		16,288
Stock compensation	3,203		4,812
Accruals and reserves	4,106		2,061
Inventory reserve	15,114		15,207
Lease liability	5,562		6,114
Depreciation	99		2,197
Capitalized tax R&E	27,296		25,844
Other	4,183		1,581
Total deferred tax assets	235,774		225,334
Valuation allowance	(230,109)		(221,454)
Total deferred tax assets	5,665		3,880
Deferred tax liabilities
Right-of-use asset	(3,467)		(3,829)
Software costs	(1,839)		—
Net deferred tax assets	$	359	$	51