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STOCKHOLDERS’ EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule 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 | 493 |  | $ | 1.99 |
Exercised | (515) |  | $ | 3.15 |
Canceled | (2,153) |  | $ | 8.89 |
Expired | (327) |  | $ | 5.81 |
Outstanding at December 31, 2024 | 10,509 |  | $ | 11.09 |
Schedule of Time-Based RSUs Activity | The following table summarizes the time-based RSU and PSU activity:
|  |  |  |  | Weighted-average grant date fair value
(shares in thousands) | Restricted Stock Units (RSUs) |  | Performance Stock Units (PSUs) |  | RSU |  | PSU
Outstanding at December 31, 2023 | 11,308 |  | 541 |  | $ | 12.06 |  |  | $ | 9.43 |
Granted | 12,722 |  | — |  |  | 5.02 |  |  | — |
Vested | (3,801) |  | — |  |  | 12.43 |  |  | — |
Forfeited | (6,018) |  | (149) |  | 7.90 |  |  | 9.43 |
Outstanding at December 31, 2024 | 14,211 |  | 392 |  | $ | 7.41 |  |  | $ | 9.43 |
Schedule of Stock-Based Compensation Expense | The following table summarizes share-based compensation expense:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Cost of revenue | $ | 5,691 |  |  | $ | 5,399 |  |  | $ | 4,802 |
Research and development | 19,172 |  |  | 22,435 |  |  | 30,676 |
Sales, general and administrative | 46,173 |  |  | 44,284 |  |  | 43,135 |
Total share-based compensation | 71,036 |  |  | 72,118 |  |  | 78,613 |
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,
| 2024 |  | 2023 |  | 2022
Expected term in years | 4.9 |  | 4.9 |  | 4.6
Expected volatility | 81% - 93% |  | 77% - 78% |  | 70% - 76%
Risk-free interest rate | 3.48% – 4.32% |  | 3.73% – 4.60% |  | 0.41% – 3.66%
Dividend yield | — |  | — |  | —
Weighted-average grant date fair value per share | $ | 1.40 |  |  | $ | 7.32 |  |  | $ | 5.93 |
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,
| 2024 |  | 2023 |  | 2022
Expected term in years | 0.5 - 2.0 |  | 0.5 - 2.0 |  | 0.5 - 2.0
Expected volatility | 81% - 118% |  | 79% - 97% |  | 70% - 97%
Risk-free interest rate | 3.9% - 5.3% |  | 4.9% - 5.5% |  | 0.6% - 3.5%
Dividend yield | — |  | — |  | —
Weighted-average grant date fair value per share | $ | 1.53 |  |  | $ | 5.34 |  |  | $ | 4.28 |

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