STOCK BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of option activity

The option activity of the Plans for the six months ended June 30, 2022, is as follows (shares in thousands):

				Weighted-Average
		Weighted-Average		Remaining	Aggregate
	Number of	Exercise Price		Contractual Term	Intrinsic Value
	Shares	per Share		(in years)	(in thousands)
Outstanding at January 1, 2022	13,249	$	1.73	7.23	$	42,775
Granted	—	$
Exercised	(1,021)	$	1.24
Forfeited/expired	(1,836)	$	1.46
Outstanding at June 30, 2022	10,392	$	1.82	6.64	$	6,220
Options vested at June 30, 2022	8,217	$	1.89	6.32	$	4,588
Options vested or expected to vest at June 30, 2022	10,365	$	1.82	6.64	$	6,199

RSU activity under the Plan

The activity for stock subject to vesting as of June 30, 2022, is as follows (shares in thousands):

	Shares Subject	Weighted-Average
	to Vesting	Grant Date Fair Value
Balance of unvested shares as of January 1, 2022	264	$ 7.79
Cancelled/Forfeited	(5)	$ 8.78
Vested	(113)	$ 6.47
Balance of unvested shares as of June 30, 2022	146	$ 7.79

Schedule of RSU activity

RSU activity under the 2020 Plan for the six months ended June 30, 2022, is as follows (shares in thousands):

	Shares Subject	Weighted-Average
	to Vesting	Grant Date Fair Value
Balance of unvested shares as of January 1, 2022	16,395	$ 7.54
Granted	7,988	$ 3.64
Vested	(2,483)	$ 11.18
Cancelled/Forfeited	(2,622)	$ 7.70
Balance of unvested shares as of June 30, 2022	19,278	$ 5.43

Schedule of stock-based compensation expense

Total stock-based compensation expense related to all of the Company’s stock-based awards granted is reported in the consolidated statements of operations as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Research and development(1)	$	12,797	$	1,838	$	17,517	$	2,755
General and administrative expense		4,362		1,355		7,782		2,194
Sales and marketing expense		1,388		577		2,673		921
Cost of sales		671		229		1,158		346
Total stock-based compensation expense	$	19,218	$	3,999	$	29,130	$	6,216

⁽¹⁾ Includes $7.3 million of stock-based compensation expense during the three and six months ended June 30, 2022, incurred in connection with the Initiative described in Note 24. Restructuring Charges.

Assumed Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions using Black-Scholes option-pricing model

		As of November 12, 2021
Risk‑free interest rate		0.5% – 0.8
Expected volatility		57.2% – 59.4	%
Expected life (in years)		1.0 – 2.8
Expected dividend yield		—
Fair value of Common Stock	$	8.61

Market Based Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions using Black-Scholes option-pricing model

The table below sets forth the assumptions used to value the market-based awards and the estimated grant-date fair value:

	October 2021
	Awards
Risk-free interest rate		1.3	%
Expected dividend yield		—	%
Remaining performance period (in years)		7.0
Expected volatility		55.0	%
Estimated grant date fair value (per share)	$	0.98 – 4.95
Target performance (number of shares)		9,070,269