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SHARE OPTION PLANS AND ESPP (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement, Recognized Amount [Abstract]  
Schedule of stock option plans
A summary of the status of the Company’s option plans as of June 30, 2024 and changes during the period then ended is presented below:
Six months ended June 30, 2024
Unaudited
Number
of options
Weighted
average
exercise
price
Outstanding at beginning of year8,539,507 $40.07 
Granted3,593,899 15.46 
Exercised(172,463)7.74 
Forfeited and canceled(431,933)49.89 
Outstanding as of June 30, 202411,529,010 $32.51 
Exercisable options6,897,941 $35.39 
Schedule of RSUs and PSUs
A summary of the status of the Company’s RSUs and PSUs as of June 30, 2024 and changes during the period then ended is presented below.
Six months ended June 30, 2024
Unaudited
Number
of RSU/PSUs
Weighted
average
grant date fair value
Unvested at beginning of year5,813,066 $60.52 
Granted9,225,787 15.21 
Vested(586,945)88.14 
Forfeited and cancelled(816,451)47.71 
Unvested as of June 30, 2024 (1)13,635,457 29.44 

(1) Includes PSUs that have a mix of service, market and other milestone performance vesting conditions which are vested upon achievements of performance milestones that are not probable as of June 30, 2024, in accordance with ASC 718 "Compensation — Stock Compensation" as follows:
 June 30, 2024
Number of
PSUs
Fair value at grant date per PSUTotal fair value at grant date
588,952 $16.30 $9,600 
2,703,852 48.16 130,218 
199,315 76.97 15,341 
234,512 80.59 18,899 
15,210 87.66 1,333 
3,741,841 $175,393 
Schedule of fair value assumptions used for All equity based awards estimated using black-scholes option pricing model
The fair value of share-based awards was estimated using the Black-Scholes model for all equity grants. For market condition awards, the Company also applied the Monte-Carlo simulation model. The Company assessed fair value using the following underlying assumptions: 
Six months ended June 30,Year ended December 31,
2023
20242023
UnauditedAudited
Stock Option Plans
Expected term (years)
5.50-5.73
5.50-6.00
5.50-6.00
Expected volatility
71%-73%
63%-67%
63%-70%
Risk-free interest rate
3.88%-4.43%
3.48%-4.10%
3.48%-4.79%
Dividend yield0.00 %0.00 %0.00 %
ESPP
Expected term (years)0.500.500.50
Expected volatility90 %56 %
56%-122%
Risk-free interest rate5.13 %4.76 %
4.76%-5.38%
Dividend yield0.00 %0.00 %0.00 %
Schedule of non-cash share-based compensation expense related to company's equity-based awards
The total non-cash share-based compensation expense related to all of the Company’s equity-based awards recognized for the three and six months ended June 30, 2024 and 2023, and the year ended December 31, 2023 was:
Three months ended June 30,Six months ended June 30,Year ended December 31,
2023
2024202320242023
UnauditedUnauditedAudited
Cost of revenues$1,698 $2,023 $3,446 $4,029 $6,587 
Research, development and clinical studies9,517 8,537 18,127 20,316 31,827 
Sales and marketing9,896 10,213 20,944 21,857 35,968 
General and administrative10,719 11,967 23,397 25,622 41,226 
Total share-based compensation expense$31,830 $32,740 $65,914 $71,824 $115,608