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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Common Stock Reserved for Future Issuance
The Company has the following shares of common stock reserved for future issuance, on an as-if converted basis:
As of December 31,
20222021
Conversion of convertible preferred stock— 86,815,192
Warrants to purchase convertible preferred stock— 3,540,546
Warrants to purchase common stock3,282,652 233,891
Shares available for grant under 2018 Plan— 1,133,920
Stock options issued and outstanding under 2018 Plan12,853,072 15,712,433
Shares available for grant under 2022 Plan(1)
4,804,751 —
RSUs issued and outstanding under 2022 Plan10,884,476 
Shares available for grant under 2022 ESPP4,072,000 
Outstanding Private Placement Warrants7,386,667 —
Total shares of common stock reserved43,283,618 107,435,982

(1) To the extent outstanding options granted under the 2018 Plan are cancelled, forfeited, or otherwise terminated without being exercised and would have been returned to the share reserve under the 2018 Plan following the closing date of the Merger, the number of shares of common stock underlying such awards will be available for future awards under the 2022 Plan.
Schedule of Stock Option Activity Stock option activity during the year ended December 31, 2022 consisted of the following (in thousands, except for share and per share data):
Stock OptionsWeighted Average Exercise PriceWeighted- Average Life (Years)Aggregate Intrinsic Value
Balance as of December 31, 20215,031,310 $6.85 9.2$120,491 
Retroactive application of recapitalization10,681,124 $(4.66)
Balance as of December 31, 202115,712,434 $2.19 9.2$120,491 
Exercised(1,227,310)$0.88 
Cancelled/Forfeited/Expired(1,632,052)$1.67 
Balance as of December 31, 202212,853,072 $2.39 7.0$7,055 
Vested and exercisable as of December 31, 20226,439,984 $1.67 5.8$5,485 
Schedule of Valuation Assumptions Using Black-Scholes
The Black-Scholes assumptions used to value the employee options at the grant dates are as follows:



20212020
Fair value of common stock
$2.82 – $6.82
$1.09 – $2.11
Expected term (years)
5.1 – 7.0
5.0 – 6.2
Expected volatility
40.0% – 41.4%
37.0% – 41.7%
Risk-free interest rate
0.7% – 1.3%
0.3% – 0.8%
Expected dividend yield—%—%
The fair value has been estimated using the Black-Scholes pricing model with the following assumptions:
Fair value of common stock$6.11 
Expected term (years)5.3
Expected volatility40.0 %
Risk-free interest rate0.7 %
Expected dividend yield0 %
Schedule of RSA Activity
Number of sharesWeighted Average Grant Date Fair Value
Unvested as of December 31, 2021898,426$0.60 
Retroactive application of recapitalization12,429 $(0.03)
Unvested as of December 31, 2021910,855 $0.57 
    Vested(910,855)$0.57 
Unvested as of December 31, 2022— $— 
Schedule of RSU Activity
RSU activity during the year ended December 31, 2022 was as follows:
RSUsWeighted Average Grant Date Fair Value Per Share
Unvested as of December 31, 2021— $— 
Granted11,521,853 $10.82 
Vested(1)
(445,503)$18.82 
Forfeited(498,037)$20.24 
Unvested as of December 31, 202210,578,313 $10.04 

(1) Common stock has not been issued in connection with 306,163 vested RSUs because such RSUs were unsettled as of December 31, 2022.