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STOCK-BASED COMPENSATION EXPENSE (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity Changes in stock options are as follows:
OptionsWeighted
Average
Exercise Price
Per share
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 202222,470,585 $1.31 5.33$23,418 
Granted— — 
Exercised6,723,629 1.06 
Cancelled705,583 2.45 
Outstanding at December 31, 202315,041,373 $1.37 3.64$— 
Vested and exercisable as of December 31, 202315,041,373 $1.37 3.64$— 
RSU Activity Changes in RSUs are as follows:
Number of RSUsWeighted-Average Grant Date Fair Value
Balance at December 31, 2022
19,574,800 $10.0 
Granted26,365,516 1.3 
Released13,247,573 9.9 
Cancelled7,151,622 5.1 
Balance at December 31, 2023
25,541,121 $2.1 
The following represents the range of assumptions used to determine the grant date or modification date fair value for these awards:
For the years ended December 31,
20232022
Term (years)
2.20 - 2.70
0.80 - 1.80
Stock price
$0.82 - $3.40
$5.32 - $9.66
Risk-free interest rate
3.93% - 5.03%
1.66% - 3.50%
Expected volatility
99% - 127%
100%
The following table summarizes 2023 market-based RSU activity:
Number of Market Based RSUsWeighted-Average Grant Date Fair Value
Balance at December 31, 2022
2,071,058 $24.5 
Granted5,000,000 2.5 
Released— — 
Cancelled4,071,058 13.1 
Balance at December 31, 2023
3,000,000 $3.3 
As of December 31, 2023, total unrecognized compensation expense and remaining weighted-average recognition period related to outstanding share-based awards were as follows:
Unrecognized compensation expenseRemaining weighted-average recognition period (years)
Market Based RSUs$8,151 1.71
RSUs31,174 2.00
Total unrecognized compensation expense at December 31, 2023
$39,325 
Stock-based Compensation Expense
The following table presents the impact of stock-based compensation expense on the consolidated statements of operations for the years ending December 31, 2023, 2022 and 2021, respectively:
Years Ended December 31,
202320222021
Selling, general, and administrative$51,003 $214,717 $169,561 
Research and development22,213 34,949 36,150 
Cost of revenues2,175 2,779 — 
Total stock-based compensation expense$75,391 $252,445 $205,711