STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

STOCK-BASED COMPENSATION

9. STOCK-BASED COMPENSATION

Stock-based compensation expense relates primarily to expense for restricted stock awards (“RSAs”), restricted stock units (“RSUs”), and stock options. As of March 31, 2023, we had unvested or unexercised stock-based awards outstanding representing approximately 63.2 million shares of our common stock, consisting of approximately 40.4 million RSAs and RSUs and options to purchase approximately 22.7 million shares of our common stock with a weighted average exercise price of $8.68 and a weighted average expense amortization period of 2.8 years.

During the three months ended March 31, 2023, the Company did not grant any stock options, RSUs or RSAs.

During the three months ended March 31, 2023, 1.2 million stock options were cancelled and 4.8 million RSUs were forfeited.

Stock-based compensation expense for the three months ended March 31, 2023 and 2022, is included in the Company’s Consolidated Statements of Operations and Comprehensive Loss as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Cost of revenue	$	597	$	2,039
Research and development	442		1,882
Sales and marketing	505		458
General and administrative	10,729		21,418
Total stock-based compensation expense	$	12,273	$	25,797

As of March 31, 2023, total unrecognized stock-based compensation expense related to unvested stock options was approximately $76.2 million, which is expected to be recognized over a weighted average time period of 2.8 years. As of March 31, 2023, the Company had approximately $63.1 million of unrecognized stock-based compensation expense related to RSAs and RSUs, which is expected to be recognized over a weighted average time period of 2.8 years.