Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

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:

	March 31, 2024	December 31, 2023
Warrants to purchase common stock	3,282,652	3,282,652
Stock options issued and outstanding under 2018 Plan	7,410,497	7,813,366
Shares available for grant under 2022 Plan(1)	3,625,093	2,052,669
RSUs issued and outstanding under 2022 Plan	15,375,287	17,434,138
Shares available for grant under 2022 ESPP	7,566,607	5,797,609
Outstanding Private Placement Warrants	7,386,667	7,386,667
Total shares of common stock reserved	44,646,803	43,767,101

(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 three months ended March 31, 2024 consisted of the following (in thousands, except for share and per share data):

	Stock Options	Weighted Average Exercise Price		Weighted- Average Life (Years)	Aggregate Intrinsic Value
Balance as of December 31, 2023	7,813,366	$	2.06	6.0	$	14,929
Exercised	(315,363)	0.71
Cancelled/Forfeited/Expired	(87,506)	4.53
Balance as of March 31, 2024	7,410,497	$	2.09	5.8	$	5,995
Vested and exercisable as of March 31, 2024	6,479,059	$	1.99	5.7	$	5,603

Schedule of RSU Activity

RSU activity during the three months ended March 31, 2024 was as follows:

	RSUs	Time-based	Performance-based	Market-based	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2023	17,434,138	12,351,544	1,805,550	3,277,044	$	4.30
Granted	4,670,060	4,140,512	529,548	0	2.05
Vested(1)	(5,880,927)	(4,545,030)	(866,890)	(469,007)	4.53
Forfeited	(847,984)	(631,315)	(216,669)	0	6.48
Unvested as of March 31, 2024	15,375,287	11,315,711	1,251,539	2,808,037	$	3.42

    

(1) Common stock has not been issued in connection with 2,084,048 vested RSUs because such RSUs were unsettled as of March 31, 2024. These RSUs will be settled by December 31, 2024.