XML 51 R30.htm IDEA: XBRL DOCUMENT
v3.24.0.1

STOCKHOLDERS’ EQUITY (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes time-based stock option activity for all of our equity compensation plans for the year ended December 31, 2023 (in thousands, except per share amounts):
| Number of shares |  | Weighted-average exercise price
Outstanding at December 31, 2022 | 14,618 |  | $ | 10.60 |
Granted | 419 |  | $ | 11.26 |
Exercised | (1,119) |  | $ | 4.74 |
Canceled | (910) |  | $ | 17.71 |
Outstanding at December 31, 2023 | 13,008 |  | $ | 10.63 |
The following table summarizes performance-based stock option activity for all of our equity compensation plans for the year ended December 31, 2023 (in thousands, except per share amounts):
| 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 December 31, 2023 | 3 |  | $ | 4.74 |
Summary of Time-Based RSUs Activity | The following table summarizes the time-based RSUs and PSUs activity for the year ended December 31, 2023 (shares in thousands):
|  |  |  |  | Weighted-average grant date fair value
| Restricted Stock Units (RSUs) |  | Performance Stock Units (PSUs) |  | RSU |  | PSU
Outstanding at December 31, 2022 | 8,535 |  | — |  | $ | 15.16 |  |  | $ | — |
Granted | 7,141 |  | 564 |  | 9.67 |  |  | 9.43 |
Vested | (2,730) |  | — |  | 14.41 |  |  | — |
Forfeited | (1,638) |  | (23) |  | 13.86 |  |  | 9.43 |
Outstanding at December 31, 2023 | 11,308 |  | 541 |  | $ | 12.06 |  |  | $ | 9.43 |
Schedule of Stock-Based Compensation Expense | Total share-based compensation expense consists of the following (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Cost of revenue | $ | 5,399 |  |  | $ | 4,802 |  |  | $ | 6,126 |
Research and development | 22,435 |  |  | 30,676 |  |  | 20,275 |
Sales, general and administrative | 44,284 |  |  | 43,135 |  |  | 35,403 |
Merger-related expenses - stock-settled | — |  |  | — |  |  | 6,349 |
Merger-related expenses - milestone | — |  |  | — |  |  | 5,202 |
Share-based compensation | 72,118 |  |  | 78,613 |  |  | 73,355 |
Merger-related expenses - cash-settled | — |  |  | — |  |  | 7,373 |
Total share-based compensation expense | $ | 72,118 |  |  | $ | 78,613 |  |  | $ | 80,728 |
Schedule of Fair Value of Employee Stock Options | The fair value of employee stock options was estimated using the following weighted-average assumptions:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Expected term in years | 4.9 |  | 4.6 |  | 2.1 - 4.6
Expected volatility | 77% - 78% |  | 70% - 76% |  | 67% - 80%
Risk-free interest rate | 3.73% – 4.60% |  | 0.41% – 3.66% |  | 0.05% – 1.10%
Dividend yield | — |  | — |  | —
Weighted-average grant date fair value per share | $ | 7.32 |  |  | $ | 5.93 |  |  | $ | 15.53 |
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:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Expected term in years | 0.5 - 2.0 |  | 0.5 - 2.0 |  | 0.5 - 2.0
Expected volatility | 79% - 97% |  | 70% - 97% |  | 67% - 68%
Risk-free interest rate | 4.9% - 5.5% |  | 0.6% - 3.5% |  | 0.1% - 0.2%
Dividend yield | — |  | — |  | —
Weighted-average grant date fair value per share | $ | 5.34 |  |  | $ | 4.28 |  |  | $ | 25.07 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration