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STOCKHOLDERS’ EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for time-based awards (shares in thousands):

			Number of shares												Weighted average exercise price
Outstanding at December 31, 2022			14,618												$	10.60
Granted			—												—
Exercised			(250)												3.75
Canceled			(362)												17.16
Outstanding at March 31, 2023			14,006												$	10.55

The following table summarizes stock option activity for performance-based awards (shares in thousands):

			Number of shares												Weighted average exercise price
Outstanding at December 31, 2022			258												$	4.71
Granted			—												—
Exercised			(230)												4.71
Canceled			(4)												4.71
Outstanding at March 31, 2023			24												$	4.71

Summary of Time-Based RSUs Activity

The following table summarizes the time-based RSUs and PSUs activity (shares in thousands):

			Restricted Stock Units (RSU)						Performance Stock Units (PSU)						Weighted average grant date fair value
															RSU						PSU
Outstanding at December 31, 2022			8,535						—						$	15.16					$	—
Granted			6,341						564						9.47						9.43
Vested			(1,640)						—						16.47						—
Forfeited			(465)						—						17.80						—
Outstanding at March 31, 2023			12,771						564						$	12.07					$	9.43

Schedule of Stock-Based Compensation Expense

The following table summarizes share-based compensation expense (in thousands):

			Three Months Ended March 31,
			2023						2022
Cost of revenue			$	1,949					$	1,758
Research and development			6,705						8,965
Sales, general and administrative			9,299						11,980
Total share-based compensation expense			$	17,952					$	22,703

Schedule of Fair Value of Employee Stock Options

For the three months ended March 31, 2023, there were no employee stock options granted. The fair value of employee stock options was estimated using the following assumptions:

									Three Months Ended March 31,
									2022
Expected term in years									4.60
Expected volatility									70%
Risk-free interest rate									1.76%
Dividend yield									—
Weighted average grant date fair value per share									$6.66

Schedule of Fair Value of Employee Stock Purchase Plan

he fair value of shares to be issued under the ESPP was estimated using the following assumptions:

			Three Months Ended March 31,
			2023						2022
Expected term in years			0.5 — 2.0						0.5 — 2.0
Expected volatility			97%						70%
Risk-free interest rate			4.89% — 5.20%						0.60% — 1.31%
Dividend yield			—						—
Weighted average grant date fair value per share			$5.00						$5.42

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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