XML 36 R26.htm IDEA: XBRL DOCUMENT v3.23.1
Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Summary of Stock Option Plan Activity

The following table summarizes the stock option plan activity:

 

 

 

Outstanding Options

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Exercise

 

 

 

Shares

 

 

Price

 

Balance at December 31, 2021

 

 

18,943,937

 

 

$

18.71

 

Granted

 

 

5,296,547

 

 

$

3.11

 

Exercised

 

 

 

 

$

-

 

Cancelled

 

 

(3,491,135

)

 

$

19.40

 

Balance at December 31, 2022

 

 

20,749,349

 

 

$

14.61

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding RSUs

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Balance at December 31, 2021

 

 

2,803,193

 

 

$

11.51

 

Granted

 

 

1,831,508

 

 

$

2.73

 

Released

 

 

(899,966

)

 

$

11.45

 

Forfeited

 

 

(567,338

)

 

$

11.47

 

Balance at December 31, 2022

 

 

3,167,397

 

 

$

6.46

 

Schedule of Options Exercisable, Vested or Expected to Vest

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Average

 

 

 

 

 

 

Exercise

 

 

 

 

 

Exercise

 

 

 

Options

 

 

Price

 

 

Options

 

 

Price

 

Exercisable at end of year

 

 

13,650,210

 

 

$

17.86

 

 

 

12,243,887

 

 

$

19.13

 

Options vested or expected to
   vest

 

 

20,183,769

 

 

$

14.82

 

 

 

18,416,243

 

 

$

18.77

 

Schedule of Exercise Prices and Weighted-average Remaining Contractual Lives for Options Outstanding

Exercise prices and weighted-average remaining contractual lives for the options outstanding as of December 31, 2022 were:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Weighted-

 

 

 

 

 

Exercise

 

 

 

 

 

 

Remaining

 

 

Average

 

 

 

 

 

Price of

 

Outstanding

 

 

Range of

 

Contractual

 

 

Exercise

 

 

Options

 

 

Options

 

Options

 

 

Exercise Prices

 

Life (in years)

 

 

Price

 

 

Exercisable

 

 

Exercisable

 

 

1,440,440

 

 

$2.49–$2.74

 

 

9.88

 

 

$

2.70

 

 

 

2,369

 

 

$

2.74

 

 

3,483,035

 

 

$2.88–$3.17

 

 

9.32

 

 

 

3.17

 

 

 

764,820

 

 

 

3.17

 

 

3,758,189

 

 

$3.30–$13.00

 

 

4.43

 

 

 

9.84

 

 

 

2,922,363

 

 

 

9.94

 

 

3,484,856

 

 

$13.05–$15.72

 

 

6.83

 

 

 

15.33

 

 

 

2,166,837

 

 

 

15.20

 

 

3,346,234

 

 

$15.75–$23.90

 

 

4.72

 

 

 

17.93

 

 

 

3,154,236

 

 

 

17.91

 

 

5,236,595

 

 

$24.40–$39.00

 

 

5.85

 

 

 

26.32

 

 

 

4,639,585

 

 

 

26.49

 

 

20,749,349

 

 

 

 

 

6.44

 

 

 

14.61

 

 

 

13,650,210

 

 

 

17.86

 

Summary of Stock-Based Compensation Expense related to Stock-Based Payment Awards

The following table summarizes stock-based compensation expense related to stock-based payment awards pursuant to our equity compensation arrangements (in thousands):

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$

17,909

 

 

$

19,482

 

General and administrative

 

 

11,688

 

 

 

11,816

 

Sales and marketing

 

 

13,383

 

 

 

15,553

 

Total stock-based compensation expense

 

$

42,980

 

 

$

46,851

 

Summary of Fair Value of Option Grant and ESPP Purchase Right on Grant Date Using Black-Scholes Option Pricing Model

We estimated the fair value of each option grant and ESPP purchase right on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

Options:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Risk-free interest rate

 

 

3.3

%

 

 

1.1

%

Dividend yield

 

 

%

 

 

%

Volatility

 

 

62.0

%

 

 

62.6

%

Expected life (years)

 

 

6

 

 

 

6

 

 

ESPP:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Risk-free interest rate

 

 

3.2

%

 

 

0.1

%

Dividend yield

 

 

%

 

 

%

Volatility

 

 

83.8

%

 

 

46.9

%

Expected life (months)

 

 

6

 

 

 

6