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SHARE BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes the stock-based compensation expense recognized for the years ended December 31, 2021 and 2020:
Year Ended Years ended December 31,
(In thousands)20212020
Cost of revenues$163 $331 
Research and development$6,624 $477 
Selling, general and administrative$34,617 $219 
Total stock-based compensation expense$41,404 $1,027 
Schedule of Stock Options, Valuation Assumptions The fair value of incentive stock options and non-statutory stock options issued was estimated using the Black-Scholes model with the following weighted-average assumptions used during the years ended December 31, 2021 and 2020:
Year Ended December 31,
20212020
Risk-free interest rates
0.42 %0.42 %
Expected volatility rates
44 %44 %
Expected dividend yield
— %— %
Expected term (in years)
66
Weighted-average grant date fair value of options
$0.48 $0.48 
The valuation model utilized the following assumptions:
Risk-free interest rate
1.47 %
Expected volatility rates
42.48 %
Expected dividend yield
0.00 %
Cost of equity (for derived service period)13.71 %
Weighted-average grant date fair value of options
$6.05 
Summary of Stock Option Outstanding
A summary of stock options outstanding as of December 31, 2021, and activity during the two years then ended, is presented below:
 Shares
(In thousands)		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term
(In years)
Outstanding at December 31, 2019
9,932 $0.17 7.9
Granted
4,359 1.06 
Exercised
(205)0.13 
Forfeited or expired
(1,105)0.17 
Outstanding at December 31, 2020
12,981 $0.47 7.8
Granted
208 1.06 
Exercised
(1,611)0.16 
Forfeited or expired
(81)0.89 
Cancelled(244)$0.72 
Outstanding at December 31, 2021
11,253 $0.51 6.8
Vested and Exercisable at December 31, 2021
7,519 $0.32 6.3
A summary of unvested stock options outstanding as of December 31, 2021, and activity during the two years then ended, is presented below:
Shares
(In thousands)		Weighted
Average
Fair Value
Unvested options outstanding at December 31, 2019
5,575 $0.07 
Granted
4,359 0.44 
Vested
(2,333)0.10 
Forfeited or expired
(1,105)0.07 
Unvested options outstanding at December 31, 2020
6,496 0.30 
Granted
208 0.44 
Vested
(2,740)0.23 
Forfeited or expired
(81)0.37 
Cancelled(148)$0.44 
Unvested options outstanding at December 31, 2021
3,735 $0.36 
Summary of Restricted Stock Unit, Outstanding
A summary of restricted stock awards (“RSA”s) and RSUs outstanding as of December 31, 2021, and activity during the year then ended, is presented below:
Restricted Common Stock AwardsShares
(In thousands)		Weighted-Average
Issuance Price		Weighted-Average
Grant Date Fair
Value Per Share
Outstanding at December 31, 2020— $— $— 
Granted
4,081 0.29 5.53 
Vested
— — — 
Forfeited
— — — 
Rescinded(4,081)0.29 5.53 
Outstanding at December 31, 2021— $— $— 
Restricted Stock Unit AwardsShares
(In thousands)		Weighted-Average
Grant Date Fair
Value Per Share
Outstanding at December 31, 2020— $— 
Granted
4,525 9.62 
Vested
(57)9.62 
Forfeited
— — 
Unvested and Outstanding at December 31, 20214,468 $9.62 
Outstanding at December 31, 20214,525$9.62