Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity

The following table presents a summary of option activity and related information during the year ended December 31, 2022:

	Number of options	Weighted average exercise price		Weighted average remaining contractual term (years)	Aggregate intrinsic value (thousands)
Outstanding at December 31, 2021	81,015,590	$	2.79	5.98	$	339,570
Granted	22,571,050	$	4.37
Exercised	(5,151,190)	$	1.14
Forfeited	(7,254,030)	$	5.66
Outstanding at December 31, 2022	91,181,420	$	3.05	5.89	$	115,969
Vested and exercisable as of December 31, 2022	54,682,520	$	1.48	4.22	$	112,582

Schedule of Assumptions Used to Estimate Fair Values of Share Options Granted

The following table presents the assumptions used to estimate the fair values of the share options granted:

	2022	2021	2020
Risk-free rate of return	1.4%-4.0%	0.9%-1.4%	0.4%-0.8%
Expected term (in years)	6.5	6, 6.25 or 6.5	6 or 6.5
Estimated volatility rate	65%	65%	70%
Expected dividend rate	0%	0%	0%

Summary of Non-vested Restricted Share Activity

The following table summarized the Company’s non-vested restricted share activity in 2022:

	Numbers of non-vested restricted shares	Weighted average remaining contractual term (years)	Aggregate intrinsic value (thousands)
Non-vested as of December 31, 2021	9,567,360	3.36	$	60,131
Granted	30,663,040
Vested	(1,940,680)
Forfeited	(4,855,830)
Non-vested as of December 31, 2022	33,433,890	3.55	$	102,642

Allocation of Compensation Expense Related to Options

The following table presents the stock-based compensation expense which has been reported in the Company’s consolidated statements of operations (in thousands):

	Year Ended December 31,
	2022	2021	2020
	$	$	$
Selling, general and administrative	38,118	23,194	15,718
Research and development	23,184	17,520	9,112
Total	61,302	40,714	24,830