Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The Company’s stock option activity for the three months ended March 31, 2023 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, 2022	8,162,850	$	1.74
Exercised	(622,042)	1.67
Cancelled/Forfeited	(155,430)	1.67
Outstanding as of March 31, 2023	7,385,378	1.74		6.73	$	35,694

Schedule of Restricted Stock Awards Activity

The Company’s RSAs activity for the three months ended March 31, 2023 was as follows:

	Shares	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2022	64,486	$	1.29
Vested	(52,826)	1.30
Outstanding as of March 31, 2023	11,660	1.29

The Company’s RSUs activity for the three months ended March 31, 2023 was as follows:

	Shares	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2022	25,594,035	$	12.66
Granted	9,124,995	7.81
Forfeited	(664,787)	13.15
Vested	(3,868,826)	12.60
Outstanding as of March 31, 2023	30,185,417	11.19

Schedule of Stock-based Compensation Expense by Function

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

	Three Months Ended March 31,
	2023		2022
Cost of sales	$	2,662	$	1,786
Research and development	17,471		7,102
Sales and marketing	5,828		2,868
General and administrative	29,993		14,942
Total	$	55,954	$	26,698

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

	Three Months Ended March 31,
	2023		2022
Equity Classified Awards:
Stock options	$	727	$	522
RSAs	60		(166)
RSUs	38,332		21,509
Management awards	5,659		—
ESPP	403		—
Liability Classified Awards:
Equity settled fixed value	2,881		1,780
Optogration	2,581		3,053
Freedom Photonics	4,555		—
Other	756		—
Total	$	55,954	$	26,698