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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Activity Under the Plan
A summary of activity under the Plans is as follows:
Number of
Options
Outstanding
Weighted-
Average
Exercise Price
Per Share
Weighted-
Average
Remaining
Contractual
Life (years)
Aggregate
Intrinsic
Value
(in thousands)
Balances as of December 31, 202051,379,939 $0.56 7.2$46,516 
Retroactive application of recapitalization(40,314,281)2.05 — 
Adjusted Balance as of December 31, 202011,065,658 2.61 7.246,516 
Options granted709,448 25.53 
Options exercised(1,402,538)1.97 
Options forfeited(15,435)2.25 
Balances as of June 30, 202110,357,133 $4.27 7.0$328,644 
Options vested and exercisable — June 30, 20217,273,421 $2.15 6.2$247,154 
Stock-based Compensation Expense
The following table summarizes stock-based compensation expense recorded in each component of operating expenses in the Company’s consolidated statements of operations and comprehensive loss (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2021202020212020
Sales and marketing$168$150$252$220
Research and development264301419486
General and administrative592251,113226
Total stock-based compensation expense$1,024$476$1,784$932