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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Option, Activity

A summary of the status of the 2015 Plan and 2021 Plan as of December 31, 2021 and March 31, 2022, and changes during the three month period ended March 31, 2022, is presented below:

			Options Outstanding
			Number of Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021			16,370,673						$	4.23					7.70						$	177,593
Granted			283,608						10.92
Exercised			(1,346,038)						1.09												8,629
Forfeited			(208,288)						4.69
Cancelled			(11,478)						3.37
Outstanding at March 31, 2022			15,088,477						4.63						7.11						31,231
Vested and exercisable at March 31, 2022			7,407,011						2.92						5.67						23,316
Unvested at March 31, 2022			7,681,466						$	6.28					7.91						$	31,231

Schedule of Stock-based Compensation Expense

Stock-based compensation expense, included in selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 and 2021, was comprised of the following:

			Three Months Ended March 31,
(in thousands)			2022						2021
Stock-based compensation expense, net of amounts capitalized			$	3,560					$	1,684
Capitalized stock-based compensation expense			261						—
Total stock-based compensation expense			$	3,821					$	1,684

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following weighted average assumptions were used for issuances during the three months ended March 31, 2022 and 2021, for employees and non-employees:

Employees and Non-employees—

			Three Months Ended March 31,
			2022						2021
Risk-free interest rate			1.98		%				0.89		%
Dividend yield			—						—
Volatility			47.14		%				52.04		%
Expected lives (years)			6.1						5.9
Fair value of common stock			$	10.92					$	4.58

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The following table summarizes the weighted-average assumptions used in estimating the fair value of the 2021 ESPP grants for the offering period beginning on November 3, 2021, using the Black Scholes option-pricing model:

			March 31, 2022
Risk-free interest rate			1.63		%
Dividend yield			—
Volatility			63.00		%
Expected lives (years)			0.6
Fair value of common stock			$	21.04

Share-based Payment Arrangement, Restricted Stock Unit, Activity

RSU activity during the three months ended March 31, 2022 was as follows:

			Number of Shares						Weighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2021			160,227						$	22.33
Granted			628,991						7.70
Vested			—						—
Forfeited			(3,085)						19.64
Cancelled			—						—
Unvested at March 31, 2022			786,133						$	10.63

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