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STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of the Components of Total Stock-Based Compensation Expense

The following table summarizes the components of total stock-based compensation expense included in the condensed consolidated statements of operations for the periods presented:

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
			(In thousands)
Cost of revenues			$	3,131					$	1,060					$	5,638					$	2,042
Research and development			16,266						5,467						29,995						11,216
Sales and marketing			22,176						5,335						35,233						8,872
General and administrative			11,491						3,450						29,995						8,026
Total			$	53,064					$	15,312					$	100,861					$	30,156

Summary of Stock-Based Compensation Associated with Each Type of Award

The following table summarizes the various types of stock-based compensation expense for the periods presented:

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
			(In thousands)
Stock options, RSUs and PSUs			$	47,228					$	14,361					$	91,340					$	28,201
Employee stock purchase plan			1,014						951						2,396						1,955
Post combination expense accrual (Accrued liabilities)			4,822						—						7,125						—
Total			$	53,064					$	15,312					$	100,861					$	30,156

Summary of Stock Option Activity

The following table summarizes stock option activity:

			Number of Shares Outstanding						Weighted- Average Exercise Price per Share						Weighted- Average Remaining Contractual Term						Aggregate Intrinsic Value (1)
			(In thousands)												(Years)						(In thousands)
Outstanding at December 31, 2021			2,264						$	1.90
Granted			—						—
Exercised			(360)						1.74												$	65,153
Canceled			(1)						8.82
Outstanding at June 30, 2022			1,903						$	1.93					2.4						$	367,918
Vested and expected to vest at June 30, 2022			1,903						$	1.93					2.4						$	367,918
Exercisable at June 30, 2022			1,903						$	1.93					2.4						$	367,918

(1)    The intrinsic value of options exercised is based upon the value of the Company’s stock at exercise. The intrinsic value of options outstanding, vested and expected to vest, and exercisable as of June 30, 2022 is based on the closing price of the last trading day during the period ended June 30, 2022. The Company’s stock fair value used in this computation was $195.24 per share.

Summary of Stock Option Outstanding

The following table summarizes information about stock options outstanding at June 30, 2022:

						Options Outstanding																		Options Exercisable
Range of Exercise Prices						Number of Shares						Weighted- Average Remaining Life						Weighted- Average Exercise Price						Number of Shares						Weighted- Average Exercise Price
						(In thousands)						(Years)												(In thousands)
$0.70 —– $1.11						479						2.8						$	0.80					479						$	0.80
$1.29 —– $1.29						1,000						2.2						1.29						1,000						1.29
$1.31 —– $5.53						380						2.0						2.15						380						2.15
$14.58 —– $14.58						33						3.8						14.58						33						14.58
$64.17 —– $64.17						11						4.8						64.17						11						64.17
Total						1,903						2.4						$	1.93					1,903						$	1.93

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity:

			Number of Shares Outstanding						Weighted- Average Fair Value per Share at Grant Date						Weighted- Average Remaining Contractual Term						Aggregate Intrinsic Value (1)
			(In thousands)												(Years)						(In thousands)
Outstanding at December 31, 2021			2,786						$	100.73
Granted			561						175.97
Vested			(916)						67.21												$	151,219
Canceled			(113)						139.67
Outstanding at June 30, 2022			2,318						130.32						1.2						$	452,664
Expected to vest at June 30, 2022			2,318						$	130.32					1.2						$	452,556

(1)    The intrinsic value of RSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of RSUs outstanding and expected to vest as of June 30, 2022 is based on the closing price of the last trading day during the period ended June 30, 2022. The Company’s stock fair value used in this computation was $195.24 per share.

Share-based Compensation, Performance Shares Award Outstanding Activity

The following summarizes PSU activity:

			Number of Shares Outstanding						Weighted- Average Fair Value per Share at Grant Date						Weighted- Average Remaining Contractual Term						Aggregate Intrinsic Value (1)
			(In thousands)												(Years)						(In thousands)
Outstanding at December 31, 2021			445						$	169.82
Granted			392						192.72
Vested			(303)						168.88												$	51,393
Canceled			(176)						170.96
Outstanding at June 30, 2022			358						$	195.14					0.7						$	69,900
Expected to vest at June 30, 2022			358						$	195.14					0.7						$	69,900

(1)    The intrinsic value of PSUs vested is based upon the value of the Company’s stock when vested. The intrinsic value of PSUs outstanding and expected to vest as of June 30, 2022 is based on the closing price of the last trading day during the period ended June 30, 2022. The Company’s stock fair value used in this computation was $195.24 per share.

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