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Ordinary Shares and Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock by Class
We have the following ordinary shares reserved for future issuance:
As of December 31,
20232022
Warrants to purchase ordinary shares(1)
499,500 1,775,475 
Share options and RSUs issued and outstanding under the 2013 Plan15,981,269 20,062,824 
Share options and RSUs issued and outstanding under the 2021 Plan16,299,528 13,134,652 
Remaining shares available for future issuance under the 2021 Plan8,766,560 8,674,132 
Total ordinary shares reserved41,546,85743,647,083
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(1)Includes the warrants to purchase ordinary shares and warrants issued to customers.
Share-based Payment Arrangement, Option, Activity A summary of share options under our equity incentive plan and related information is as follows:
Share Options Outstanding
Outstanding Share OptionsWeighted-Average Exercise
Price
Weighted-Average Remaining Contractual Life (Years)Aggregate Intrinsic
Value
(in thousands, except share, life and per share data)
Balance as of December 31, 202213,785,214 $2.17 6.1$34,326 
Options exercised(3,010,478)$1.22 
Options forfeited(405,202)$3.72 
Balance as of December 31, 202310,369,534 $2.39 5.5$24,303 
Exercisable as of December 31, 20238,849,876 $2.13 5.2$22,904 
There were no share options granted during the years ended December 31, 2023 or December 31, 2022.
Fair Value Measurement Inputs and Valuation Techniques
The Black-Scholes assumptions used to value the employee share options at the grant dates are as follows:
Year Ended December 31,
2021
Expected term (years)
5.44 - 6.60
Expected volatility
67.26% - 68.52%
Risk-free interest rate
0.99% - 1.12%
Expected dividend yield0.00%
Schedule of Unvested Restricted Stock Units Roll Forward
A summary of RSU activity, including activity under our equity incentive plan, and related information is as follows:
Number of SharesWeighted-Average
Grant-Date Fair Value
Per Share
Unvested as of December 31, 202219,412,262 $9.06 
Granted10,904,664 $5.43 
Vested(6,365,261)$7.28 
Forfeited(2,040,402)$6.31 
Unvested as of December 31, 202321,911,263 $8.02 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
Share-based compensation expense by line item in the consolidated statements of operations is summarized as follows:
Year Ended December 31,
202320222021
(in thousands)
Cost of revenue$770 $621 $216 
Research and development13,152 10,005 4,246 
Sales and marketing19,420 18,253 10,710 
General and administrative29,068 38,588 18,186 
Total share-based compensation expense$62,410 $67,467 $33,358