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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock As of September 30, 2022, the par value of the Class A, Class B and Class C shares was $2,422, $275, and $56, respectively.

 

 

 

Shares
Authorized

 

 

Shares
Issued

 

 

Shares
Outstanding

 

Class A

 

 

1,000,000,000

 

 

 

242,304,366

 

 

 

242,304,366

 

Class B

 

 

100,000,000

 

 

 

27,390,397

 

 

 

27,390,397

 

Class C

 

 

200,000,000

 

 

 

5,555,555

 

 

 

5,555,555

 

 

 

 

1,300,000,000

 

 

 

275,250,318

 

 

 

275,250,318

 
Activity under Plans

Activity under the Plans is as follows:

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic Value

 

Outstanding as of January 1, 2022

 

 

15,893,755

 

 

$

4.81

 

 

 

5.9

 

 

$

23,876

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Forfeited

 

 

(1,779,566

)

 

 

6.13

 

 

 

 

 

 

 

Expired

 

 

(49,542

)

 

 

5.63

 

 

 

 

 

 

 

Exercised

 

 

(2,524,837

)

 

 

2.08

 

 

 

 

 

 

 

Outstanding as of September 30, 2022

 

 

11,539,810

 

 

$

4.81

 

 

 

5.7

 

 

$

6,198

 

Vested and expected to vest as of December 31, 2021

 

 

15,395,398

 

 

$

4.61

 

 

 

5.8

 

 

$

23,752

 

Vested and expected to vest as of September 30, 2022

 

 

11,405,421

 

 

$

5.00

 

 

 

5.7

 

 

$

2,823

 

Options exercisable as of December 31, 2021

 

 

13,407,882

 

 

$

4.38

 

 

 

5.5

 

 

$

23,120

 

Options exercisable as of September 30, 2022

 

 

10,658,813

 

 

$

4.92

 

 

 

5.6

 

 

$

2,826

 
Summary of Unvested Restricted Stock Unit Activity

Activity for the restricted stock units is as follows:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2022

 

 

11,718,813

 

 

$

19.63

 

Granted

 

 

12,880,812

 

 

 

4.21

 

Vested

 

 

(4,254,928

)

 

 

12.04

 

Forfeited

 

 

(2,012,379

)

 

 

8.70

 

Unvested as of September 30, 2022

 

 

18,332,318

 

 

$

7.20

 
Summary of Performance-based Market Condition Share Awards

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2022

 

 

—

 

 

$

—

 

Granted

 

 

27,275,886

 

 

 

2.32

 

Vested

 

 

—

 

 

 

—

 

Cancelled/Forfeited

 

 

(1,568,889

)

 

 

2.62

 

Unvested as of September 30, 2022

 

 

25,706,997

 

 

$

2.30

 
Schedule of Weighted Average Assumptions used to Determine Estimated Fair Value of Performance-based Market Condition Share Awards Granted

The weighted average estimated fair value of the performance-based market condition share awards granted during the nine months ended September 30, 2022 was determined using a Monte-Carlo valuation simulation, with the following most significant weighted-average assumptions:

 

 

 

Nine Months Ended September 30,

 

 

 

2022

 

Risk-free rate

 

 

2.34

%

Term to end of performance period (yrs)

 

3 years

 

Valuation date stock price

 

$

3.50

 

Expected volatility

 

 

75

%

Expected dividend yield

 

 

0

%
Stock-Based Compensation Expense

Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenues

 

$

427

 

 

$

436

 

 

$

1,188

 

 

$

1,346

 

Research and development

 

 

2,750

 

 

 

2,173

 

 

 

7,631

 

 

 

5,851

 

Selling and marketing

 

 

2,045

 

 

 

2,033

 

 

 

5,144

 

 

 

6,022

 

General and administrative

 

 

16,090

 

 

 

7,746

 

 

 

34,341

 

 

 

18,537

 

Total

 

$

21,312

 

 

$

12,388

 

 

$

48,304

 

 

$

31,756