Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes - Schedule of Deferred Income Tax Assets (Details)

v3.25.4
Income Taxes - Schedule of Deferred Income Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:      
Net operating loss carryforwards $ 403,606 $ 190,451 $ 138,735
Research and development credits 165,103 115,651 55,492
Accruals and reserves 0 567 2,479
Property and equipment 3,277 2,892 3,110
Stock-based compensation 14,075 6,094 16,396
Goodwill 3,921 2,965 4,311
Intangibles 207 2,769 2,234
Lease Liability 642 515 664
Capitalized R&D 160,300 173,217 88,985
Other 12 0 0
Total deferred tax assets 751,143 495,121 312,406
Valuation allowance (736,003) (481,760) (295,740)
Net deferred tax assets 15,140 13,361 16,666
Deferred tax liabilities      
Contractual agreement (15,479) (13,361) (16,666)
Total deferred tax liabilities (15,479) (13,361) (16,666)
Net deferred tax assets $ (339) $ 0 $ 0