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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock

In the year ended December 31, 2022 no shares of Class B common stock were converted to Class A common stock. As of December 31, 2022 the par value of the Class A, Class B and Class C shares was $2,435, $275 and $56, respectively.

 

 

 

Shares
Authorized

 

 

Shares
Issued

 

 

Shares
Outstanding

 

Class A

 

 

1,000,000,000

 

 

 

244,193,727

 

 

 

244,193,727

 

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

 

 

 

277,139,679

 

 

 

277,139,679

 

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

 

 

(2,081,214

)

 

$

6.04

 

 

 

 

 

 

 

Expired

 

 

(82,542

)

 

$

5.58

 

 

 

 

 

 

 

Exercised

 

 

(2,690,448

)

 

$

2.11

 

 

 

 

 

 

 

Outstanding as of December 31, 2022

 

 

11,039,551

 

 

$

5.23

 

 

 

5.5

 

 

$

996

 

Vested and expected to vest as of December 31, 2022

 

 

10,951,967

 

 

$

5.02

 

 

 

5.5

 

 

$

996

 

Options exercisable as of December 31, 2022

 

 

10,417,259

 

 

$

4.97

 

 

 

5.4

 

 

$

996

 

Weighted Average of Assumptions used to Determine Fair Value of Common Stock Options Granted

The weighted average of assumptions that the Company used to determine the fair value of the common stock options granted to employees and directors were as follows:

 

 

 

Years Ended December 31,

 

 

 

2022

 

2021

 

2020

 

Risk-free interest rate

 

N/A

 

N/A

 

 

1.09

%

Expected term (in years)

 

N/A

 

N/A

 

 

6.1

 

Expected volatility

 

N/A

 

N/A

 

 

52

%

Expected dividend yield

 

N/A

 

N/A

 

 

0

%

Summary of Unvested Restricted Stock Unit Activity

The following table summarizes the unvested restricted stock unit activity for the year ended December 31, 2022:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2022

 

 

11,718,813

 

 

$

19.63

 

Granted

 

 

15,430,438

 

 

 

4.15

 

Vested

 

 

(5,372,060

)

 

 

12.09

 

Forfeited

 

 

(2,460,732

)

 

 

8.45

 

Unvested as of December 31, 2022

 

 

19,316,459

 

 

$

10.78

 

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

 

 

(1,673,481

)

 

 

2.62

 

Unvested as of December 31, 2022

 

 

25,602,405

 

 

$

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 year ended December 31, 2022 was determined using a Monte-Carlo valuation simulation, with the following most significant weighted-average assumptions:

 

 

 

Years Ended December 31,

 

 

2022

 

 

2021

 

2020

Risk-free rate

 

 

2.34

%

 

N/A

 

N/A

Term to end of performance period (yrs)

 

3 years

 

 

N/A

 

N/A

Weighted average valuation date stock price

 

$

3.50

 

 

N/A

 

N/A

Expected volatility

 

 

75

%

 

N/A

 

N/A

Expected dividend yield

 

 

0

%

 

N/A

 

N/A

Stock-Based Compensation Expense

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

 

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Cost of revenues

 

$

1,605

 

 

$

1,655

 

 

$

1,087

 

Research and development

 

$

10,236

 

 

 

7,613

 

 

 

4,793

 

Selling and marketing

 

$

7,182

 

 

 

7,666

 

 

 

4,147

 

General and administrative

 

 

50,121

 

 

 

26,875

 

 

 

108,331

 

Total

 

$

69,144

 

 

$

43,809

 

 

$

118,358