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STOCKHOLDERS’ EQUITY (Tables)

6 Months Ended

Jun. 30, 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			232												11.94
Exercised			(707)												4.76
Canceled			(581)												18.99
Outstanding at June 30, 2023			13,562												$	10.57

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			(251)												4.71
Canceled			(4)												4.71
Outstanding at June 30, 2023			3												$	4.74

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			6,626						564						9.59						9.43
Vested			(1,831)						—						15.99						—
Forfeited			(687)						—						16.89						—
Outstanding at June 30, 2023			12,643						564						$	12.03					$	9.43

Schedule of Stock-Based Compensation Expense

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

			Three Months Ended June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Cost of revenue			$	1,177					$	988					$	3,126					$	2,746
Research and development			5,423						7,748						12,128						16,713
Sales, general and administrative			11,291						10,283						20,589						22,263
Total share-based compensation expense			$	17,891					$	19,019					$	35,843					$	41,722

Schedule of Fair Value of Employee Stock Options

The fair value of employee stock options was estimated using the following assumptions:

									Six Months Ended June 30,
															2023						2022
Expected term in years															4.9						4.6
Expected volatility															78%						70% — 72%
Risk-free interest rate															3.73%						1.76% — 2.77%
Dividend yield															—						—
Weighted average grant date fair value per share															$7.76						$6.05

Schedule of Fair Value of Employee Stock Purchase Plan

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

									Six Months Ended June 30,
															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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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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