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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock

In the year ended December 31, 2023 no shares of Class B common stock were converted to Class A common stock. As of December 31, 2023 the par value of the Class A, Class B and Class C shares was $2,548, $275 and $56, respectively.

 

 

 

Shares
Authorized

 

 

Shares
Issued

 

 

Shares
Outstanding

 

Class A

 

 

1,000,000,000

 

 

 

255,542,545

 

 

 

255,542,545

 

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

 

 

 

288,488,497

 

 

 

288,488,497

 
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, 2023

 

 

11,039,551

 

 

$

5.23

 

 

 

5.5

 

 

$

996

 

Granted

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Forfeited

 

 

(757,743

)

 

$

5.44

 

 

 

 

 

 

 

Expired

 

 

(6,160

)

 

$

1.77

 

 

 

 

 

 

 

Exercised

 

 

(286,599

)

 

$

1.99

 

 

 

 

 

 

 

Outstanding as of December 31, 2023

 

 

9,989,049

 

 

$

5.09

 

 

 

4.6

 

 

$

—

 

Vested and expected to vest as of December 31, 2023

 

 

9,978,545

 

 

$

5.09

 

 

 

4.6

 

 

$

—

 

Options exercisable as of December 31, 2023

 

 

9,906,925

 

 

$

5.08

 

 

 

4.6

 

 

$

—

 
Summary of Unvested Restricted Stock Unit Activity

The following table summarizes the unvested restricted stock unit activity for the year ended December 31, 2023:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2023

 

 

19,316,459

 

 

$

10.78

 

Granted

 

 

15,980,943

 

 

 

2.47

 

Vested

 

 

(8,956,584

)

 

 

7.16

 

Forfeited

 

 

(3,917,923

)

 

 

4.22

 

Unvested as of December 31, 2023

 

 

22,422,895

 

 

$

7.45

 
Summary of Performance-based Market Condition Share Awards

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2023

 

 

25,602,405

 

 

$

2.30

 

Granted

 

 

2,654,598

 

 

 

2.19

 

Vested

 

 

(1,146,310

)

 

 

2.12

 

Cancelled/Forfeited

 

 

(394,387

)

 

 

2.41

 

Unvested as of December 31, 2023

 

 

26,716,306

 

 

$

2.29

 
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, 2023 and December 31, 2022 was determined using a Monte-Carlo valuation simulation, with the following most significant weighted-average assumptions:

 

 

 

Years Ended December 31,

 

 

2023

 

 

2022

 

 

2021

Risk-free rate

 

 

4.61

%

 

 

2.34

%

 

N/A

Term to end of performance period (yrs)

 

3 years

 

 

3 years

 

 

N/A

Weighted average valuation date stock price

 

$

2.76

 

 

$

3.50

 

 

N/A

Expected volatility

 

 

70

%

 

 

75

%

 

N/A

Expected dividend yield

 

 

0

%

 

 

0

%

 

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,

 

 

 

2023

 

 

2022

 

 

2021

 

Cost of revenues

 

$

1,681

 

 

$

1,605

 

 

$

1,655

 

Research and development

 

 

10,348

 

 

 

10,236

 

 

 

7,613

 

Selling and marketing

 

 

8,613

 

 

 

7,182

 

 

 

7,666

 

General and administrative

 

 

51,398

 

 

 

50,121

 

 

 

26,875

 

Total

 

$

72,040

 

 

$

69,144

 

 

$

43,809