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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Grant Fair Value of Stock Options using Black-Scholes Option-pricing Model

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the nine months ended September 30, 2023:

 

Risk-free interest rate

 

 

 

 

 

 

 

 

4.1

%

Expected term (in years)

 

 

 

 

 

 

 

 

5.6

 

Expected volatility

 

 

 

 

 

 

 

 

86.5

%

Expected dividend yield

 

 

 

 

 

 

 

 

0

%

Schedule of Stock Option Activity

The following table summarizes option activity with service conditions under the 2021 Plan and the 2017 Plan:

 

 

 

Options

 

 

Weighted
average
exercise
price

 

 

Weighted
average
contract term (years)

 

 

Aggregate
intrinsic
value

 

Outstanding at January 1, 2023

 

 

25,059,409

 

 

$

4.90

 

 

 

6.1

 

 

$

7,851

 

Granted

 

 

7,416,215

 

 

 

0.54

 

 

 

 

 

 

 

Exercised

 

 

(1,086,371

)

 

 

0.28

 

 

 

 

 

 

 

Forfeited

 

 

(2,309,879

)

 

 

4.02

 

 

 

 

 

 

 

Outstanding at September 30, 2023

 

 

29,079,374

 

 

$

3.99

 

 

 

6.2

 

 

$

 

Vested and expected to vest September 30, 2023

 

 

29,079,374

 

 

$

3.99

 

 

 

6.2

 

 

$

 

Exercisable at September 30, 2023

 

 

20,461,611

 

 

$

4.58

 

 

 

4.8

 

 

$

 

Schedule of Activity Related to RSU Stock-Based Payment Awards

The following table summarizes activity related to RSU stock-based payment awards:

 

 

Number of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Outstanding at January 1, 2023

 

 

2,274,029

 

 

$

7.34

 

Granted

 

 

9,549,318

 

 

$

0.63

 

Vested

 

 

(653,224

)

 

$

6.67

 

Forfeited

 

 

(2,377,769

)

 

$

2.32

 

Outstanding at September 30, 2023

 

 

8,792,354

 

 

$

1.45

 

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Cost of revenue

 

$

166

 

 

$

126

 

 

$

462

 

 

$

294

 

Research and development

 

 

379

 

 

 

661

 

 

 

1,384

 

 

 

1,650

 

Selling, general and administrative

 

 

3,053

 

 

 

3,732

 

 

 

9,596

 

 

 

9,526

 

 

$

3,598

 

 

$

4,519

 

 

$

11,442

 

 

$

11,470