STOCK BASED COMPENSATION (Tables)

9 Months Ended

Sep. 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 nine months ended September 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	(2,168)	$	1.40
Forfeited/expired	(2,061)	$	1.47
Outstanding at September 30, 2022	9,020	$	1.87	6.31	$	7,478
Options vested at September 30, 2022	7,313	$	1.94	6.00	$	5,554
Options vested or expected to vest at September 30, 2022	9,000	$	1.87	6.31	$	7,456

RSU activity under the Plan

The activity for stock subject to vesting as of September 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	(136)	$ 6.85
Balance of unvested shares as of September 30, 2022	123	$ 8.78

Schedule of RSU activity

RSU activity under the 2020 Plan for the nine months ended September 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	8,736	$ 3.56
Vested	(3,248)	$ 11.05
Cancelled/Forfeited	(2,851)	$ 7.50
Balance of unvested shares as of September 30, 2022	19,032	$ 5.12

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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Research and development(1)	$	4,355	$	4,450	$	21,872	$	7,205
General and administrative expense		3,899		3,138		11,681		5,332
Sales and marketing expense		3,052		1,732		5,725		2,653
Cost of sales		734		631		1,892		977
Total stock-based compensation expense	$	12,040	$	9,951	$	41,170	$	16,167

⁽¹⁾ Includes $7.3 million of stock-based compensation expense during the nine months ended September 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