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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
Total stock-based compensation expense recognized in the Company’s consolidated statements of operations and comprehensive loss is classified as follows (in thousands):
Year Ended December 31,
202220212020
Cost of revenue$668 $1,018 $965 
Research and development2,858 2,538 2,288 
Selling and marketing2,936 1,615 1,091 
General and administrative15,146 18,700 18,461 
Total stock-based compensation expense$21,608 $23,871 $22,805 
Summary of RSU Activity
The table below summarizes the Company's activity and related information for its ISUs:
RSUs and DSUsPSUs
Number of SharesWeighted Average Grant Date Fair ValueNumber of SharesWeighted Average Grant Date Fair Value
Unvested at December 31, 20215,536,925 $4.04 707,088 $4.66 
Granted2,534,144 $3.86 1,249,383 $4.14 
Incremental awards— $— 1,638,775 (1)$4.66 
Vested(2,767,524)$3.62 — $— 
Cancelled or forfeited(280,516)$4.19 (44,391)$4.34 
Unvested at December 31, 20225,023,029 $4.16 3,550,855 $4.33 
Vested and unreleased248,978 — 
Outstanding at December 31, 20225,272,007 3,550,855 
(1) Includes incremental PSUs which have been accrued as of December 31, 2022 based on the expected level of achievement of previously granted awards.
Summary of Company's Stock Option Activity and Related Information
A summary of the Company’s stock option activity and related information is as follows:
Number
of Stock
Options
Outstanding
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual Life
(Years)
Aggregate
Intrinsic
Value
(In thousands)
Options outstanding at December 31, 2021
7,195,398 $6.97 6.1$5,203 
Options granted— — 
Options exercised(28,812)2.76 
Options cancelled or forfeited(418,006)7.75 
Options outstanding at December 31, 2022
6,748,580 $6.95 5.0$3,307 
Options exercisable at December 31, 2022
6,480,492 $7.11 4.9$2,745 
Options vested and expected to vest at December 31, 2022
6,769,006 $6.97 5.0$3,256 
Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Options at Grant Date
The fair value of employee stock options was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:
Year Ended December 31,
2020
Expected term (in years)6.0
Expected volatility (%)68.8%
Risk-free interest rate (%)0.7%
Expected dividend yield (%)0%
Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Purchases at Grant Date
The fair value of each purchase right granted under the ESPP was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
Year Ended December 31,
202220212020
Expected term (in years)0.50
0.50
0.3 - 0.5
Expected volatility (%)
83.2% - 83.8%
84.2% - 86.0%
83.0%
Risk-free interest rate (%)
0.22% - 2.52%
0.05% - 0.09%
0.09% - 0.17%
Expected dividend yield (%)—%—%—%