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STOCK-BASED AWARDS (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity A summary of stock option activity for the year ended December 31, 2022 was as follows:
Outstanding Options
Number of OptionsWeighted Average Exercise PriceWeighted-Average Remaining Contractual TermIntrinsic Value (in thousands)
Balance as of December 31, 2021
64,119,902 $1.08 6.60$2,370,666 
Options exercised
(22,519,879)0.79 
Options canceled
(2,588,907)1.93 
Balance as of December 31, 2022
39,011,116 $1.19 6.52$224,721 
Options vested and exercisable as of December 31, 2022
29,534,568 $1.03 6.14$173,872 
Schedule of Stock Option Valuation Assumptions A summary of the assumptions the Company utilized to record compensation expense for stock options granted during the year ended December 31, 2021 and 2020, was as follows:
Year ended December 31,
20212020
Weighted average volatility48.4 %59.0 %
Expected term (in years)6.65.9
Risk-free interest rate1.45 %0.75 %
Expected dividends$— $— 
Schedule of Nonvested Restricted Stock Units Activity
A summary of RSUs activity for the year ended December 31, 2022 was as follows:
Restricted Stock Units
Time-Based SharesPerformance-Based SharesTotal SharesWeighted-Average Grant-Date Fair Value
Balance as of December 31, 2021
32,210,200 16,024,411 48,234,611 $20.45 
Granted21,332,603 — 21,332,603 17.04 
Vested(11,656,996)(13,934,271)(25,591,267)19.56 
Cancelled/Forfeited(3,315,509)— (3,315,509)18.52 
Balance as of December 31, 2022
38,570,298 2,090,140 40,660,438 $19.38 
Schedule of Share-based Compensation Arrangement Awards The fair value of these performance-based RSUs was measured on the grant date, March 27, 2021, using a Monte Carlo simulation model, with the following assumptions:
Weighted average volatility60.0 %
Expected term (in years)5.0
Risk-free interest rate0.9 %
Expected dividends— 
Summary of Stock-Based Compensation Expense
Total employee and nonemployee stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020, was classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):
Year Ended December 31,
202220212020
Cost of revenue$41,753 $8,737 $213 
Research and development151,549 137,303 3,724 
Selling, general and administrative230,198 370,717 677 
Total$423,500 $516,757 $4,614