Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Summary of loss before income tax provision (benefit) |
Income (loss) before income tax provision (benefit) was generated in the following jurisdictions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2019 |
|
2018 |
|
2017 |
Domestic |
|
$ |
(61,047 |
) |
|
$ |
(18,242 |
) |
|
$ |
(9,387 |
) |
Foreign |
|
12,952 |
|
|
9,080 |
|
|
7,698 |
|
Total |
|
$ |
(48,095 |
) |
|
$ |
(9,162 |
) |
|
$ |
(1,689 |
) |
|
| Summary of components of the income tax provision charged to operations |
The components of the income tax provision (benefit) charged to operations are summarized as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2019 |
|
2018 |
|
2017 |
Current: |
|
|
|
|
|
|
Federal |
|
$ |
4 |
|
|
$ |
4,564 |
|
|
$ |
(1,201 |
) |
State |
|
2,803 |
|
|
1,044 |
|
|
951 |
|
Foreign |
|
5,930 |
|
|
4,849 |
|
|
6,438 |
|
|
|
8,737 |
|
|
10,457 |
|
|
6,188 |
|
|
|
|
|
|
|
|
Deferred: |
|
|
|
|
|
|
|
|
|
Federal |
|
(33,952 |
) |
|
(19,444 |
) |
|
(4,439 |
) |
State |
|
(5,603 |
) |
|
(3,182 |
) |
|
146 |
|
Foreign |
|
(75 |
) |
|
(1,003 |
) |
|
(304 |
) |
|
|
(39,630 |
) |
|
(23,629 |
) |
|
(4,597 |
) |
|
|
|
|
|
|
|
Total |
|
$ |
(30,893 |
) |
|
$ |
(13,172 |
) |
|
$ |
1,591 |
|
|
| Schedule of net deferred tax assets (liabilities) |
Net deferred tax assets (liabilities) consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2019 |
|
2018 |
Deferred revenue |
|
$ |
5,148 |
|
|
$ |
5,642 |
|
Prepaid expenses and accruals |
|
9,533 |
|
|
3,302 |
|
Deferred rent and lease incentives |
|
273 |
|
|
4,255 |
|
Right of use asset |
|
(18,507 |
) |
|
— |
|
Lease liability |
|
22,983 |
|
|
— |
|
Net operating loss and tax credit carryforwards |
|
86,952 |
|
|
78,689 |
|
Property and equipment and intangible assets |
|
(127,255 |
) |
|
(73,778 |
) |
Stock-based compensation expense |
|
8,033 |
|
|
7,667 |
|
Investment in partnerships |
|
2,196 |
|
|
12 |
|
Convertible Notes |
|
(8,471 |
) |
|
(11,918 |
) |
Other |
|
2,218 |
|
|
1,020 |
|
Total deferred tax assets (liabilities), net |
|
(16,897 |
) |
|
14,891 |
|
Less: valuation allowance |
|
(12,584 |
) |
|
(15,531 |
) |
Net deferred tax liabilities |
|
$ |
(29,481 |
) |
|
$ |
(640 |
) |
|
| Summary of expected tax provision |
The expected income tax provision (benefit) calculated at the statutory federal rate differs from the actual provision as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2019 |
|
2018 |
|
2017 |
Tax provision (benefit), at U.S. federal statutory tax rate |
|
$ |
(10,012 |
) |
|
$ |
(1,559 |
) |
|
$ |
(573 |
) |
|
|
|
|
|
|
|
State income tax provision (benefit), net of federal benefit |
|
(5,390 |
) |
|
(1,714 |
) |
|
(1,251 |
) |
Effect of stock-based compensation excess tax benefit |
|
(11,983 |
) |
|
(7,782 |
) |
|
(11,522 |
) |
Effect of permanent items |
|
1,048 |
|
|
2,967 |
|
|
1,145 |
|
Change in valuation allowance |
|
(3,364 |
) |
|
(4,244 |
) |
|
2,151 |
|
Effect of change in federal income tax rate |
|
— |
|
|
— |
|
|
13,792 |
|
Effect of change in state and foreign income tax rates |
|
2,449 |
|
|
(269 |
) |
|
537 |
|
Uncertain tax positions |
|
4,478 |
|
|
(2,062 |
) |
|
3,668 |
|
BEAT liability |
|
— |
|
|
3,760 |
|
|
— |
|
Research and development credits |
|
(6,756 |
) |
|
(4,770 |
) |
|
(2,815 |
) |
Change in permanent reinvestment assertion |
|
— |
|
|
— |
|
|
(4,494 |
) |
State net operating loss adjustment |
|
(1,588 |
) |
|
— |
|
|
836 |
|
Other |
|
225 |
|
|
2,501 |
|
|
117 |
|
Income tax provision (benefit) |
|
$ |
(30,893 |
) |
|
$ |
(13,172 |
) |
|
$ |
1,591 |
|
|
| Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefit |
A reconciliation of the beginning and ending amount of unrecognized tax benefit follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2019 |
|
2018 |
|
2017 |
Balance at December 31, 2018 |
|
$ |
15,628 |
|
|
$ |
18,312 |
|
|
$ |
16,476 |
|
Additions based on tax positions related to the current year |
|
2,261 |
|
|
1,907 |
|
|
1,691 |
|
Additions based on tax positions related to prior years |
|
1,050 |
|
|
(3,976 |
) |
|
145 |
|
Reductions for settlements with taxing authorities related to prior years |
|
— |
|
|
(615 |
) |
|
— |
|
Balance at December 31, 2019 |
|
$ |
18,939 |
|
|
$ |
15,628 |
|
|
$ |
18,312 |
|
|