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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Provision for Income Taxes

The components of loss before provision for income taxes for the periods presented are as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Domestic

 

$

(207,314

)

 

$

(146,227

)

 

$

(68,606

)

Foreign

 

 

16

 

 

 

 

 

 

 

Total loss before provision for income taxes

 

$

(207,298

)

 

$

(146,227

)

 

$

(68,606

)

Schedule of Components of Deferred Tax Assets and Liabilities The significant components of our deferred tax assets and liabilities as of the dates presented are as follows (in thousands):

 

 

December 31,

 

 

 

2021

 

 

2020

 

Deferred tax assets

 

 

 

 

 

 

 

 

Net operating losses

 

$

200,363

 

 

$

105,433

 

Tax credit carryforward

 

 

31,200

 

 

 

18,981

 

Nonqualifying stock options

 

 

18,072

 

 

 

12,096

 

Deferred rent

 

 

 

 

 

 

Operating lease liabilities

 

 

30,401

 

 

 

31,052

 

Deferred revenue

 

 

42,481

 

 

 

59,713

 

Other

 

 

4,345

 

 

 

2,983

 

Total deferred tax assets

 

 

326,862

 

 

 

230,258

 

Less: Valuation allowance

 

 

(297,020

)

 

 

(197,527

)

Deferred tax assets, net of valuation allowance

 

 

29,842

 

 

 

32,731

 

Deferred tax liabilities

 

 

 

 

 

 

 

 

Tangible and intangible assets

 

 

(7,310

)

 

 

(5,760

)

ROU assets

 

 

(22,532

)

 

 

(26,971

)

Net deferred taxes

 

$

 

 

$

 

 

Schedule of Reconciliation of Effective Tax Rate of Provision for Income Taxes Differs from Federal Statutory Rate

The effective tax rate of our provision for income taxes differs from the federal statutory rate for the periods presented as follows:

 

 

 

Year Ended December 31,

 

 

2021

 

2020

 

2019

Statutory rate

 

21.0%

 

21.0%

 

21.0%

State tax, net of federal tax benefit

 

8.3

 

13.8

 

8.1

Stock compensation

 

14.1

 

25.2

 

9.8

Permanent items

 

(0.1)

 

(0.1)

 

(1.0)

Credits

 

4.7

 

5.7

 

6.1

Other

 

(0.3)

 

0.5

 

0.3

Change in valuation allowance

 

(47.7)

 

(66.1)

 

(44.3)

Total

 

0.0%

 

0.0%

 

0.0%

Schedule of Change in Unrecognized Tax Benefits A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the dates presented are as follows (in thousands):

Balance at December 31, 2018

 

$

1,260

 

Additions in 2019

 

 

792

 

Balance at December 31, 2019

 

 

2,052

 

Additions in 2020

 

 

1,437

 

Balance at December 31, 2020

 

 

3,489

 

Additions in 2021

 

 

3,426

 

Balance at December 31, 2021

 

$

6,915