REDEEMABLE CONVERTIBLE PREFERRED SHARES AND REDEEMABLE CONVERTIBLE PREFERRED SHARES WARRANTS (Tables)

12 Months Ended

Dec. 31, 2022

Temporary Equity Disclosure [Abstract]

A summary of the authorized, issued and outstanding redeemable convertible preferred shares of Series A, Series A-1, Series B, Series C, Series D and Series E (collectively “Preferred Shares”) as of December 31, 2021 (in thousands, except share and per share amounts) is as follows:


	December 31, 2021
	Shares Authorized	Shares Issued and Outstanding	Issuance Price Per Share		Carrying Value		Aggregate Liquidation Preference
Series A	370,370	370,370	$	3.38	$	1,243	$	1,837
Series A-1	179,398	172,857	18.90		3,254		4,489
Series B	412,554	412,554	35.81		36,635		18,468
Series C	343,498	343,498	72.57		24,893		30,106
Series D	713,076	688,301	149.35		105,016		183,329
Series E	187,347	187,347	838.49		136,006		165,733
	2,206,243	2,174,927			$	307,047	$	403,962

Fair Value Measurement Inputs and Valuation Techniques

The following assumptions in determining the fair value of the Option as of issuance date:


	June 1, 2020
Price of the Underlying Shares	137.88
Exercise Price	149.35
Expected Term	0.38
Risk Free Rate	0.10	%
Volatility	16	%

The following are the significant assumptions in determining the fair value of the Series D warrants as of December 31, 2021:


Series D warrants	December 31, 2021
Probability of Occurrence of IPO	85		%
Probability of achieving the vesting condition	76		%
Volatility	41		%
Time to exit (years)	0.75
Exercise Price	$	0.01
Risk Free Rate	0.29		%