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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock As of June 30, 2022, the par value of the Class A, Class B and Class C shares was $2,403, $275, and $56, respectively.

 

 

 

Shares
Authorized

 

 

Shares
Issued

 

 

Shares
Outstanding

 

Class A

 

 

1,000,000,000

 

 

 

240,397,065

 

 

 

240,397,065

 

Class B

 

 

100,000,000

 

 

 

27,390,397

 

 

 

27,390,397

 

Class C

 

 

200,000,000

 

 

 

5,555,555

 

 

 

5,555,555

 

 

 

 

1,300,000,000

 

 

 

273,343,017

 

 

 

273,343,017

 

 

Activity under Plans

Activity under the Plans is as follows:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic Value

 

Outstanding as of January 1, 2022

 

 

15,893,755

 

 

$

4.81

 

 

 

5.9

 

 

$

23,876

 

Granted

 

 

 

 

$

 

 

 

 

 

 

 

Forfeited

 

 

(953,627

)

 

$

6.64

 

 

 

 

 

 

 

Expired

 

 

(49,542

)

 

$

5.63

 

 

 

 

 

 

 

Exercised

 

 

(2,060,215

)

 

$

2.13

 

 

 

 

 

 

 

Outstanding as of June 30, 2022

 

 

12,830,371

 

 

 

4.81

 

 

 

5.8

 

 

$

6,198

 

Vested and expected to vest as of December 31, 2021

 

 

15,395,398

 

 

$

4.61

 

 

 

5.8

 

 

$

23,752

 

Vested and expected to vest as of June 30, 2022

 

 

12,630,154

 

 

$

4.91

 

 

 

5.7

 

 

$

6,194

 

Options exercisable as of December 31, 2021

 

 

13,407,882

 

 

$

4.38

 

 

 

5.5

 

 

$

23,120

 

Options exercisable as of June 30, 2022

 

 

11,634,556

 

 

$

4.82

 

 

 

5.6

 

 

$

6,198

 

Summary of Unvested Restricted Stock Unit Activity

Activity for the restricted stock units is as follows:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2022

 

 

11,718,813

 

 

$

19.63

 

Granted

 

 

10,622,982

 

 

 

4.09

 

Vested

 

 

(3,005,281

)

 

 

12.55

 

Forfeited

 

 

(1,787,601

)

 

 

9.04

 

Unvested as of June 30, 2022

 

 

17,548,913

 

 

$

7.75

 

Summary of Performance-based Market Condition Share Awards

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2022

 

 

 

 

$

 

Granted

 

 

25,423,674

 

 

 

2.21

 

Vested

 

 

 

 

 

 

Cancelled/Forfeited

 

 

(1,568,889

)

 

 

2.62

 

Unvested as of June 30, 2022

 

 

23,854,785

 

 

$

2.18

 

Schedule of Weighted Average Assumptions used to Determine Estimated Fair Value of Performance-based Market Condition Share Awards Granted

The weighted average estimated fair value of the performance-based market condition share awards granted during the six months ended June 30, 2022 was determined using a Monte-Carlo valuation simulation, with the following most significant weighted-average assumptions:

 

 

 

Six Months Ended June 30,

 

 

 

2022

 

Risk-free rate

 

 

2.28

%

Term to end of performance period (yrs)

 

3 years

 

Valuation date stock price

 

$

3.43

 

Expected volatility

 

 

75

%

Expected dividend yield

 

 

0

%

Stock-Based Compensation Expense

Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenues

 

$

426

 

 

$

521

 

 

$

761

 

 

$

910

 

Research and development

 

 

2,699

 

 

 

2,171

 

 

 

4,881

 

 

 

3,678

 

Selling and marketing

 

 

1,304

 

 

 

2,100

 

 

 

3,099

 

 

 

3,989

 

General and administrative

 

 

10,478

 

 

 

5,934

 

 

 

18,251

 

 

 

10,791

 

Total

 

$

14,907

 

 

$

10,726

 

 

$

26,992

 

 

$

19,368