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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
The following table summarizes stock-based compensation expense recognized for the years ended December 31, 2022, 2021 and 2020, as follows:
December 31,
202220212020
Research and development$4,662 $7,416 $6,110 
Sales and marketing8,615 8,770 4,505 
General and administrative94,925 44,145 13,142 
Total stock-based compensation expense$108,202 $60,331 $23,757 
Summary of Stock Option and RSU Activity
Stock option and RSU activity during the year ended December 31, 2022 is as follows (in thousands, except for share, per share, and contractual term data):
Options OutstandingRestricted Stock Units
Number of
Shares
Available for
Issuance
Under the
Plan
Number of
Shares
Outstanding
Under the
Plan
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
Number of Plan shares outstandingWeighted-Average Grant Date Fair Value per share
Balance at December 31, 202151,437,898 27,727,088 $7.79 7.04$113,110 7,600,097 $13.17 
Additional shares authorized20,437,691 — — 
Options and restricted stock units granted(56,239,223)— — 56,239,223 1.04 
Options exercised and restricted stock units released— (10,318,720)0.13 (2,074,116)9.35 
Options and restricted stock units canceled12,821,148 (1,162,506)1.02 (11,658,642)6.63 
Balance at December 31, 202228,457,514 16,245,862 $13.15 7.27$1,145 50,106,562 $1.23 
Exercisable at December 31, 202113,157,036 $0.15 5.17$95,946 
Exercisable at December 31, 20223,930,317 $0.29 5.17$1,132 
Unvested at December 31, 202114,570,052 $14.69 8.72$17,164 
Unvested at December 31, 202212,315,545 $17.25 7.94$14 
Summary of Stock Option Valuation Assumptions The assumptions used to estimate the fair value of stock options granted and the resulting fair values for the years ended December 31, 2021 and 2020 were as follows:
2021 (1)
2020
Expected volatility48.71%
45% – 50%
Risk-free interest rate0.02%
0.27% – 1.44%
Expected term (in years)0.25
4.14-6.25
Expected dividend yield
Weighted average estimated fair value of stock options granted during the year$15.63$5.06
(1) For the year ended December 31, 2021, the above assumptions were used to estimate the fair value of certain stock options previously granted to the former CFO, that were modified as part of the transition and release agreement.