Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of loss before income taxes is as follows:

	Year ended December 31,
	2024			2023			2022
Domestic operations	$	(77,871	)	$	(187,763	)	$	(281,895	)
Foreign operations		2,924			1,319			1,165
Loss before income taxes	$	(74,947	)	$	(186,444	)	$	(280,730	)

Schedule of Components of Income Tax Expense (Benefit)

Current and deferred income taxes / (benefits) on loss from continuing operations are as follows:

	Year ended December 31,
	2024			2023
Current
Federal	$	—		$	(74	)
State and local		543			95
Foreign		1,778			994
Total current income taxes	$	2,321		$	1,015
Deferred:
Federal	$	(5,410	)	$	—
State and local		(1,968	)		—
Foreign		(119	)		22
Total deferred income benefits	$	(7,497	)	$	22
Income tax (benefit) / provision	$	(5,176	)	$	1,037

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred tax assets are as follows:

	Year ended December 31,
	2024			2023
Deferred tax assets:
Accounts receivable reserve	$	1,178		$	832
Accrued payroll		8,201			6,088
Net operating loss carry forward		113,454			33,931
Stock-based compensation		16,218			45,696
Interest limitation carry forward		8,192			6,148
Tax credit		6,731			5,236
Intangible assets		—			15,391
Research and development costs		44,519			28,350
Accrued expenses and others		3,393			2,788
Total deferred tax assets		201,886			144,460
Less: Valuation allowance		(181,480	)		(129,661	)
Deferred tax assets, net of valuation allowance	$	20,406		$	14,799
Deferred tax liabilities:
Fixed assets	$	(4,661	)	$	(4,921	)
Right-to-use assets		(2,055	)		(1,838	)
Intangible assets		(2,234	)		—
Deferred state income tax and others		(10,837	)		(7,312	)
Total deferred tax liabilities	$	(19,787	)	$	(14,071	)
Net deferred tax assets	$	619		$	728

Summary of Valuation Allowance

The following table reconciles the changes in the valuation allowance for the years ended December 31, 2024 and 2023:

Balance as of January 1, 2023	$	(112,330	)
Increase due to current year pre-tax loss		(17,274	)
Others		(57	)
Balance as of December 31, 2023		(129,661	)
Increase due to current year pre-tax loss		(51,459	)
Others		(360	)
Balance as of December 31, 2024	$	(181,480	)

Schedule of Effective Income Tax Rate Reconciliation

The difference between the federal statutory rate of 21% and the Company’s effective tax rate is summarized as follows:

	December 31, 2024			December 31, 2023
U.S. federal statutory rate		21.0	%		21.0	%
State income taxes		20.7	%		2.8	%
Other permanent differences		(1.2	)%		(0.4	)%
Non-deductible transaction cost		(1.3	)%
Stock-based compensation		70.2	%		(2.6	)%
Non-deductible officer’s compensation		(37.2	)%		(12.8	)%
Research and development credit		1.3	%		2.0	%
Change in valuation allowance		(68.7	)%		(9.3	)%
Change in state tax rates		3.0	%		(0.6	)%
Others		(0.9	)%		(0.6	)%
Effective tax rate		6.9	%		(0.5	)%

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows:

Balance as of January 1, 2023	$	—
Increase in tax positions for current / prior periods		—
Balance as of December 31, 2023		—
Increase in tax positions for current / prior periods		675
Balance as of December 31, 2024	$	675

Income Tax Years Subject To Examination

Jurisdiction	Tax Year
U.S	2021
Czech Republic	2021
India	2022