STOCK-BASED AWARDS (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Stock Option Activity |
A summary of stock option activity, excluding performance-based stock options (“PSOs”), for the six months ended June 30, 2026 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Options | | Number of Options | | Weighted Average Exercise Price | | Weighted-Average Remaining Contractual Term | | Intrinsic Value
(in thousands) | Balance as of December 31, 2025 | 2,030,874 | | | $ | 19.09 | | | 3.98 | | $ | 2,918 | | Options exercised | (311,391) | | | 8.91 | | | | | | Options canceled/forfeited | (101,933) | | | 45.03 | | | | | | Balance as of June 30, 2026 | 1,617,550 | | | $ | 19.41 | | | 3.43 | | $ | 11 | | Options vested and exercisable as of June 30, 2026 | 1,556,611 | | | $ | 17.71 | | | 3.39 | | $ | 11 | |
|
| Schedule of Restricted Stock Units Activity |
A summary of RSUs activity for the six months ended June 30, 2026 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Restricted Stock Units | | Time-Based Shares | | Performance-Based Shares | | Total Shares | | Weighted-Average Grant-Date Fair Value | Balance as of December 31, 2025 | 17,337,857 | | | 2,645,726 | | | 19,983,583 | | | $ | 27.86 | | | Granted | 5,114,901 | | | 43,504 | | | 5,158,405 | | | $ | 7.30 | | | Vested | (4,100,489) | | | (569,025) | | | (4,669,514) | | | $ | 30.17 | | | Canceled/Forfeited | (3,128,662) | | | (905,877) | | | (4,034,539) | | | $ | 24.87 | | Balance as of June 30, 2026 | 15,223,607 | | | 1,214,328 | | | 16,437,935 | | | $ | 21.49 | |
|
| Schedule of Stock-Based Compensation Expense |
Total employee and nonemployee stock-based compensation expense for the three and six months ended June 30, 2026 and 2025, was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Cost of revenue | $ | 603 | | | $ | 582 | | | $ | 1,624 | | | $ | 1,704 | | | Research and development | 25,584 | | | 34,195 | | | 63,269 | | | 69,016 | | | Selling, general and administrative | 15,761 | | | 21,542 | | | 39,444 | | | 13,114 | | Workforce reduction charges | 4,661 | | | — | | | 3,302 | | | — | | | Total | $ | 46,609 | | | $ | 56,319 | | | $ | 107,639 | | | $ | 83,834 | |
|