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STOCKHOLDERS’ EQUITY (Tables)

3 Months Ended

Mar. 31, 2024

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, 2023			13,011												$	10.63
Granted			80												3.67
Exercised			(515)												3.15
Canceled			(239)												11.87
Expired			(100)												7.05
Outstanding at March 31, 2024			12,237												$	10.90

Summary of Time-Based RSUs Activity

The following table summarizes the time-based RSUs and PSUs activity:

			Restricted Stock Units (RSU)						Performance Stock Units (PSU)						Weighted average grant date fair value
(Shares in thousands)															RSU						PSU
Outstanding at December 31, 2023			11,308						541						$	12.06					$	9.43
Granted			12,194						—						5.15						—
Vested			(2,827)						—						12.96						—
Forfeited			(587)						—						9.92						—
Outstanding at March 31, 2024			20,088						541						$	7.80					$	9.43

Schedule of Stock-Based Compensation Expense

The following table summarizes share-based compensation expense:

			Three Months Ended March 31,
(in thousands)			2024						2023
Cost of revenue			$	2,106					$	1,948
Research and development			5,788						6,705
Sales, general and administrative			11,631						9,299
Total share-based compensation expense			$	19,525					$	17,952

Schedule of Fair Value of Employee Stock Options

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

			Three Months Ended March 31,
			2024
Expected term in years			4.9
Expected volatility			81%
Risk-free interest rate			4.32%
Dividend yield			—
Weighted average grant date fair value per share			$2.45

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:

			Three Months Ended March 31,
			2024						2023
Expected term in years			0.5 — 2.0						0.5 — 2.0
Expected volatility			81%						97%
Risk-free interest rate			4.54% — 5.27%						4.89% — 5.20%
Dividend yield			—						—
Weighted average grant date fair value per share			$2.78						$5.00

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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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