STOCK-BASED AWARDS (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of stock option activity for the six months ended June 30, 2024 was as follows:

	Outstanding Options
	Number of Options	Weighted Average Exercise Price		Weighted-Average Remaining Contractual Term	Intrinsic Value (in thousands)
Balance as of December 31, 2023	32,911,135	$	1.99	5.5	$	91,785
Options granted	232,177	3.99
Options exercised	(2,098,557)	1.10
Options canceled	(757,507)	7.29
Balance as of June 30, 2024	30,287,248	$	1.94	4.91	$	43,217
Options vested and exercisable as of June 30, 2024	26,461,672	$	1.28	4.71	$	42,821

Schedule of Restricted Stock Units Activity

A summary of RSUs activity for the six months ended June 30, 2024 was as follows:

	Restricted Stock Units
	Time-Based Shares	Performance-Based Shares	Total Shares	Weighted-Average Grant-Date Fair Value
Balance as of December 31, 2023	54,699,739	9,305,825	64,005,564	$	10.90
Granted	77,029,707	7,728,436	84,758,143	2.69
Vested	(13,155,545)	(1,263,684)	(14,419,229)	11.83
Cancelled/Forfeited	(4,220,018)	(3,719,513)	(7,939,531)	8.08
Balance as of June 30, 2024	114,353,883	12,051,064	126,404,947	$	5.47

Schedule of Performance-Based RSUs

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 volatility	60.0	%
Expected term (in years)	5.0
Risk-free interest rate	0.9	%
Expected dividends	—	%

Schedule of Stock-Based Compensation Expense

Total employee and nonemployee stock-based compensation expense for the three and six months ended June 30, 2024 and 2023, was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	899	$	765	$	1,811	$	1,339
Research and development	33,526		37,410		71,059		65,393
Selling, general and administrative	24,068		33,201		49,319		59,906
Restructuring charges	(1,480)		—		(1,480)		(1,443)
Total	$	57,013	$	71,376	$	120,709	$	125,195