Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of the Company’s stock option activity for the nine months ended September 30, 2022 was as follows:

	Number of Common Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding as of December 31, 2021	11,507,643	$	1.72
Exercised	(1,713,280)	1.67
Cancelled/Forfeited	(905,181)	1.67
Outstanding as of September 30, 2022	8,889,182	1.73		7.00	$	50,117

Schedule of Restricted Stock Awards Activity

Restricted stock awards activity for the nine months ended September 30, 2022 was as follows:

	Shares	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	666,298	$	1.21
Forfeited	(18,382)	1.23
Vested	(496,343)	1.18
Outstanding as of September 30, 2022	151,573	1.28

A summary of the Company’s restricted stock units activity for the nine months ended September 30, 2022 was as follows:

	Shares	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	11,983,032	$	19.56
Granted	18,026,768	11.14
Forfeited	(1,211,044)	16.39
Vested	(5,509,721)	15.88
Outstanding as of September 30, 2022	23,289,035	14.07

Schedule of Stock-based Compensation Expense by Function

Stock-based compensation expense by function was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Cost of sales	$	5,430	$	1,619	$	14,205	$	2,829
Research and development	11,326		6,318		27,142		12,743
Sales and marketing	3,821		1,859		9,430		2,979
General and administrative	31,974		23,724		67,097		31,336
Total	$	52,551	$	33,520	$	117,874	$	49,887

Stock-based compensation expense by type of award was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Equity Classified Awards:
Stock options	$	714	$	1,097	$	1,984	$	2,495
RSAs	162		(469)		183		1,455
RSUs	39,452		28,697		93,501		41,123
ESPP	293		—		450		—
Liability Classified Awards:
Equity settled fixed value	1,894		1,542		5,013		2,161
Optogration	5,312		2,159		8,759		2,159
Freedom Photonics	3,155		494		5,955		494
Solfice	176		—		234		—
Other	1,393		—		1,795		—
Total	$	52,551	$	33,520	$	117,874	$	49,887