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

Income Taxes - Summary of Components of Deferred Income Tax Asset (Details)

v3.25.4
Income Taxes - Summary of Components of Deferred Income Tax Asset (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Net operating loss carryforwards $ 53,689 $ 39,258
Research and development credits 86,074 85,659
Foreign tax credit carryforwards 527 1,578
Accrued expenses and other 14,937 17,727
Lease obligation 1,718 2,446
Accrued compensation 6,898 2,991
Stock-based compensation 12,327 11,923
Intangible assets 7,740 9,698
Deferred tax assets, gross 183,910 171,280
Less valuation allowance (104,525) (100,131)
Deferred tax assets, net of valuation allowance 79,385 71,149
Deferred tax liabilities:    
Fixed assets (572) (497)
Leased right-of-use assets (1,244) (1,749)
Pension liability (426) (355)
Net deferred tax assets $ 77,143 $ 68,548