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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Estimate the Fair Value of Stock Options Granted | The assumptions used to estimate the fair value of stock options granted during the year ended December 31, 2024 are as follows:
|  |  | Year ended December 31,
|  |  | 2024 |  |
Expected dividend yield |  |  | — |  |
Expected volatility |  |  | 103.0% - 107.0% |  |
Expected term (years) |  |  | 5.0 - 6.1 |  |
Risk free interest |  |  | 4.0% - 4.2% |  |
Schedule of Stock Option Activity | The following table summarizes the Company’s stock option activity during the periods presented (in thousands except share and per share data):
| Number of options |  | Weighted average exercise price ($) |  | Weighted average remaining contractual term (years) |  | Aggregate intrinsic value ($)
Outstanding as of December 31, 2023* | 10,300,567 |  | 1.73 |  |  | 6.81 |  | — |
Granted | 2,921,082 |  | 1.30 |  |  |  |  |
Exercised | (1,911,119) |  | 0.90 |  |  |  |  |
Forfeited and expired | (325,792) |  | 4.76 |  |  |  |  |
Outstanding as of December 31, 2024 | 10,984,738 |  | 1.67 |  |  | 6.64 |  | 75,270 |
Options exercisable as of December 31, 2024 | 9,145,652 |  | 1.46 |  |  | 6.25 |  | 64,379 |
Options unvested as of December 31, 2024 | 1,839,086 |  | 2.68 |  |  | 8.59 |  | 10,891 |
*As of December 31, 2023, a total of 10,547,844 options had been issued and remained outstanding under the 2020 Plan. The number of options, along with the weighted average exercise price and weighted average remaining contractual term shown in the table above, have been adjusted to the as-converted number of Commons Shares using the Conversion Ratio applied to these 10,547,844 options.
Schedule of RSU Activity and Related Information | The following table summarizes the RSU activity and related information under the 2022 Plan (in thousands except share and per share data):
| Number of RSUs |  | Weighted average Grant Date Fair Value ($)
Unvested as of December 31, 2023 | 7,045,813 |  |  | 3.13 |
Granted | 7,058,265 |  |  | 1.66 |
Forfeited and expired | (553,478) |  |  | 2.14 |
Vested | (4,763,578) |  |  | 2.69 |
Unvested as of December 31, 2024 | 8,787,022 |  |  | 2.25 |
Schedule of Stock-Based Compensation Expense | The following table summarizes the stock-based compensation expense classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):
|  |  | Year Ended December 31,
|  |  |  |  | 2024 |  | 2023 |  |
Cost of revenue |  |  |  |  | $ | 647 |  |  | $ | 1,272 |  |  |
Research and development |  |  |  |  | 5,089 |  | 8,286 |  |
General and administrative |  |  |  |  | 8,166 |  |  | 11,356 |  |  |
Sales and marketing |  |  |  |  | 1,759 |  |  | 1,005 |  |  |
Total stock-based compensation |  |  |  |  | $ | 15,661 |  |  | $ | 21,919 |  |  |

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