STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| STOCK-BASED COMPENSATION |
|
| Schedule of stock-based compensation |
Total stock-based compensation expense related to all of our stock-based awards was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2022 |
|
2021 |
|
2020 |
|
Selling, general and administrative |
$ |
10,217 |
|
$ |
7,337 |
|
$ |
5,223 |
|
Research and development |
|
2,168 |
|
|
1,700 |
|
|
2,072 |
|
Restructuring charges |
|
— |
|
|
449 |
|
|
— |
|
Total stock-based compensation expense |
$ |
12,385 |
|
$ |
9,486 |
|
$ |
7,295 |
|
|
| Summary of weighted-average assumptions relating to options granted pursuant to equity incentive plans |
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|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2022 |
|
2021 |
|
2020 |
|
Risk-free interest rate |
2.6 |
% |
1.0 |
% |
1.2 |
% |
Expected term (in years) |
6.3 |
|
6.4 |
|
6.5 |
|
Dividend yield |
0.0 |
% |
0.0 |
% |
0.0 |
% |
Expected volatility |
74.8 |
% |
70.5 |
% |
66.1 |
% |
|
| Schedule of option activity under equity incentive plans |
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Stock Options |
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RSUs |
|
|
|
|
|
|
|
Weighted |
|
Weighted |
|
|
|
Weighted Average |
|
|
|
Shares Available |
|
Number of |
|
Average |
|
Intrinsic Value |
|
Number of |
|
Grant Date |
|
|
|
For Grant |
|
Shares |
|
Exercise Price |
|
(in thousands) |
|
Shares |
|
Fair Value |
|
Outstanding as of December 31, 2021 |
|
10,715,312 |
|
30,008,665 |
|
$ |
3.13 |
|
$ |
6,812 |
|
226,250 |
|
$ |
3.67 |
|
Authorized for grant |
|
7,080,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
(9,880,277) |
|
8,179,113 |
|
$ |
1.96 |
|
|
|
|
1,181,362 |
|
$ |
2.36 |
|
Exercised/Released |
|
— |
|
(433,318) |
|
$ |
2.23 |
|
|
|
|
(216,250) |
|
$ |
3.59 |
|
Cancelled and forfeited |
|
2,697,583 |
|
(3,058,187) |
|
$ |
4.54 |
|
|
|
|
(87,709) |
|
$ |
2.42 |
|
Outstanding as of December 31, 2022 |
|
10,612,618 |
|
34,696,273 |
|
$ |
2.74 |
|
$ |
1,605 |
|
1,103,653 |
|
$ |
2.39 |
|
Vested and Expected to Vest as of December 31, 2022 |
|
|
|
32,473,773 |
|
$ |
2.73 |
|
$ |
1,493 |
|
|
|
|
|
|
Exercisable as of December 31, 2022 |
|
|
|
22,669,120 |
|
$ |
2.91 |
|
$ |
2 |
|
|
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| Schedule of stock options by exercise price |
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Options Outstanding |
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Options Exercisable |
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|
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|
Weighted-Average |
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|
|
|
|
|
|
|
|
|
Number of |
|
Remaining Contractual |
|
Weighted-Average |
|
Number of |
|
Weighted-Average |
Exercise Price |
|
Shares |
|
Life (in years) |
|
Exercise Price |
|
Shares |
|
Exercise Price |
$0.90 - $2.00 |
|
7,143,200 |
|
7.54 |
|
$ |
1.55 |
|
4,222,496 |
|
$ |
1.95 |
$2.01 - $2.34 |
|
5,979,493 |
|
4.78 |
|
$ |
2.20 |
|
5,143,388 |
|
$ |
2.18 |
$2.37 - $2.40 |
|
495,000 |
|
4.90 |
|
$ |
2.39 |
|
457,500 |
|
$ |
2.39 |
$2.42 - $2.42 |
|
6,189,723 |
|
8.14 |
|
$ |
2.42 |
|
2,502,752 |
|
$ |
2.42 |
$2.44 - $3.52 |
|
4,982,149 |
|
5.56 |
|
$ |
2.94 |
|
3,339,194 |
|
$ |
2.92 |
$3.54 - $3.68 |
|
5,864,451 |
|
6.28 |
|
$ |
3.60 |
|
3,108,284 |
|
$ |
3.62 |
$3.71 - $6.51 |
|
4,042,257 |
|
4.09 |
|
$ |
4.69 |
|
3,895,506 |
|
$ |
4.70 |
$0.90 - $6.51 |
|
34,696,273 |
|
6.24 |
|
$ |
2.74 |
|
22,669,120 |
|
$ |
2.91 |
|
| Summary of weighted-average assumptions used to calculate fair value of purchase rights granted under Employee Stock Purchase Plan |
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|
Year Ended December 31, |
|
|
|
2022 |
|
2021 |
|
2020 |
|
Risk-free interest rate |
|
3.1 |
% |
* |
|
1.0 |
% |
Expected term (in years) |
|
1.3 |
|
* |
|
1.6 |
|
Dividend yield |
|
0.0 |
% |
* |
|
0.0 |
% |
Expected volatility |
|
121.0 |
% |
* |
|
62.3 |
% |
|