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SHARE-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
SHARE-BASED COMPENSATION | 9. SHARE-BASED COMPENSATION The Company issues share-based compensation to employees in the form of restricted stock units (RSUs), performance stock units (PSUs), and stock options. The following table summarizes the amount of share-based compensation expense by line item on the consolidated statements of operations: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Research and development expense |  |  | 3,973 |  |  |  | 6,531 |  |  |  | 6,933 |
Sales, marketing, general and administrative expense |  |  | 7,562 |  |  |  | 9,610 |  |  |  | 8,528 |
Total Share-based compensation expense |  | $ | 11,535 |  |  | $ | 16,141 |  |  | $ | 15,461 |
Options Activity and Positions The following table summarizes shares, weighted-average exercise price, weighted-average remaining contractual term, and aggregate intrinsic value of options outstanding and options exercisable as of December 31, 2024 (in thousands, except per share data): SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS
|  |  |  |  |  |  |  | Weighted-average |  |  | Aggregate |
|  |  |  |  |  |  |  | remaining |  |  | intrinsic |
|  |  |  |  | Weighted-average |  |  | contractual |  |  | value |
Options |  | Shares |  |  | exercise price |  |  | term (in years) |  |  | (thousands) |
Outstanding as of December 31, 2021 |  |  | 1,533 |  |  | $ | 1.37 |  |  |  | 5.6 |  |  | $ | 5,645 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (525 | ) |  |  | 1.38 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (63 | ) |  |  | 3.00 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2022 |  |  | 945 |  |  | $ | 1.26 |  |  |  | 5.7 |  |  | $ | 1,137 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (191 | ) |  |  | 0.92 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (2 | ) |  |  | 0.28 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2023 |  |  | 752 |  |  | $ | 1.35 |  |  |  | 4.6 |  |  | $ | 1,083 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (84 | ) |  |  | 0.73 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (2 | ) |  |  | 1.18 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2024 |  |  | 666 |  |  | $ | 1.43 |  |  |  | 3.5 |  |  | $ | 185 |
Vested and expected to vest as of December 31, 2024 |  |  | 666 |  |  | $ | 1.43 |  |  |  | 3.5 |  |  | $ | 185 |
Exercisable as of December 31, 2024 |  |  | 666 |  |  | $ | 1.43 |  |  |  | 3.5 |  |  | $ | 185 |
As of December 31, 2024, there is no unrecognized share-based employee compensation related to stock options. Restricted Stock Activity and Positions The following table summarizes activity and positions with respect to RSUs and PSUs for the years ended December 31, 2024, 2023 and 2022 (in thousands, except per share data): SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs
|  |  |  |  | Weighted-average |
|  | Shares |  |  | price |
Unvested as of December 31, 2021 |  |  | 2,625 |  |  | $ | 13.05 |
Granted |  |  | 9,180 |  |  |  | 2.46 |
Vested |  |  | (1,391 | ) |  |  | 9.16 |
Forfeited |  |  | (1,548 | ) |  |  | 6.42 |
Unvested as of December 31, 2022 |  |  | 8,866 |  |  |  | 3.85 |
Granted |  |  | 3,491 |  |  |  | 3.89 |
Vested |  |  | (1,872 | ) |  |  | 6.98 |
Forfeited |  |  | (502 | ) |  |  | 7.47 |
Unvested as of December 31, 2023 |  |  | 9,983 |  |  |  | 3.09 |
Granted |  |  | 9,234 |  |  |  | 1.26 |
Vested |  |  | (5,437 | ) |  |  | 3.63 |
Forfeited |  |  | (1,767 | ) |  |  | 2.65 |
Unvested as of December 31, 2024 |  |  | 12,013 |  |  | $ | 1.51 |
During the year ended December 31, 2024, the Company granted 5,384,000 shares to non-executive employees for annual and short-term incentive awards. Additionally, the Company granted 80,000 shares to non-executive employees for new hire grants. These shares are valued based on the closing price of common stock on the dates of grant and vest immediately or over three or four years. During the year ended December 31, 2024, the Company granted 3,771,000 shares to executive employees and directors for annual, short-term incentive, and long-term incentive awards. These shares are valued based on the closing price of common stock on the dates of grant and vest immediately, over one year, or over three years. As of December 31, 2024, unrecognized share-based compensation related to RSUs was $6.8 million, which will be expensed over the next 2.0 years. Unrecognized share-based compensation related to executive PSUs was $2.5 million, which will be expensed over the next 1.0 year. Unrecognized share-based compensation related to the non-executive PSUs was $0.3 million, which will be expensed over the next 0.5 years.

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