| CHANGES IN STOCKHOLDERS' EQUITY(DEFICIT) |
5. | CHANGES IN STOCKHOLDERS’ EQUITY(DEFICIT) |
A reconciliation of the changes in stockholders’ equity (deficit) is as follows: Three and Six Months Ended June 30, 2023: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | | | | | | | | Additional | | Other | | | | | Total | | | Common Stock | | Paid-In | | Comprehensive | | Accumulated | | Stockholders’ | (In thousands) | | Shares | | Amount | | Capital | | Gain (Loss) | | Deficit | | Equity (Deficit) | Balance, March 31, 2023 | | 129,171 | | $ | 12 | | $ | 431,466 | | $ | (6) | | $ | (302,006) | | $ | 129,466 | Issuance of common stock upon exercise of stock options | | 564 | | | — | | | 152 | | | — | | | — | | | 152 | Issuance of common stock upon exercise of common stock warrants | | 16 | | | — | | | — | | | — | | | — | | | — | Issuance of common stock upon release of restricted stock units | | 781 | | | — | | | — | | | — | | | — | | | — | Proceeds from sale of common stock through Purchase Agreement | | 1,869 | | | 1 | | | 2,347 | | | — | | | — | | | 2,348 | Stock-based compensation | | — | | | — | | | 3,355 | | | — | | | — | | | 3,355 | Foreign currency translation gain | | — | | | — | | | — | | | 4 | | | — | | | 4 | Change in unrealized loss on available-for-sale securities | | — | | | — | | | — | | | 3 | | | — | | | 3 | Net loss | | — | | | — | | | — | | | — | | | (16,966) | | | (16,966) | Balance, June 30, 2023 | | 132,401 | | $ | 13 | | $ | 437,320 | | $ | 1 | | $ | (318,972) | | $ | 118,362 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | | | | | | | | Additional | | Other | | | | | Total | | | Common Stock | | Paid-In | | Comprehensive | | Accumulated | | Stockholders’ | (In thousands) | | Shares | | Amount | | Capital | | Gain (Loss) | | Deficit | | Equity (Deficit) | Balance, December 31, 2022 | | 125,257 | | $ | 12 | | $ | 429,025 | | $ | (161) | | $ | (278,652) | | $ | 150,224 | Issuance of common stock upon exercise of stock options | | 3,424 | | | — | | | 902 | | | — | | | — | | | 902 | Issuance of common stock upon exercise of common stock warrants | | 143 | | | | | | 1 | | | | | | | | | 1 | Issuance of common stock upon release of restricted stock units | | 1,708 | | | — | | | — | | | — | | | — | | | — | Proceeds from sale of common stock through Purchase Agreement | | 1,869 | | | 1 | | | 2,347 | | | — | | | — | | | 2,348 | Capitalization of deferred costs to equity upon share issuance | | — | | | — | | | (13) | | | — | | | — | | | (13) | Stock-based compensation | | — | | | — | | | 5,058 | | | — | | | — | | | 5,058 | Foreign currency translation loss | | — | | | — | | | — | | | (79) | | | — | | | (79) | Change in unrealized loss on available-for-sale securities | | — | | | — | | | — | | | 241 | | | — | | | 241 | Net loss | | — | | | — | | | — | | | — | | | (40,320) | | | (40,320) | Balance, June 30, 2023 | | 132,401 | | $ | 13 | | $ | 437,320 | | $ | 1 | | $ | (318,972) | | $ | 118,362 |
Three and Six Months Ended June 30, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | | | | | | | | Additional | | Other | | | | | Total | | | Common Stock | | Paid-In | | Comprehensive | | Accumulated | | Stockholders’ | (In thousands) | | Shares | | Amount | | Capital | | Gain (Loss) | | Deficit | | Equity (Deficit) | Balance, March 31, 2022 | | 113,810 | | $ | 11 | | $ | 388,684 | | $ | 61 | | $ | (224,773) | | $ | 163,983 | Issuance of common stock upon exercise of stock options | | 230 | | | — | | | 62 | | | — | | | — | | | 62 | Issuance of common stock upon exercise of common stock warrants | | 1,702 | | | — | | | 5,011 | | | — | | | — | | | 5,011 | Issuance of common stock upon release of RSUs | | 1,361 | | | — | | | — | | | — | | | — | | | — | Reclassification of loan and security agreement warrants to equity | | — | | | — | | | 6,370 | | | — | | | — | | | 6,370 | Settlement of the first tranche of forward contract | | — | | | — | | | (3,305) | | | — | | | — | | | (3,305) | Stock-based compensation | | — | | | — | | | 11,041 | | | — | | | — | | | 11,041 | Capitalization of deferred costs to equity upon share issuance | | — | | | — | | | (848) | | | — | | | — | | | (848) | Foreign currency translation gain | | — | | | — | | | — | | | 38 | | | — | | | 38 | Net loss | | — | | | — | | | — | | | — | | | (12,252) | | | (12,252) | Balance, June 30, 2022 | | 117,103 | | $ | 11 | | $ | 407,015 | | $ | 99 | | $ | (237,025) | | $ | 170,100 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated | | | | | | | | | Redeemable Convertible | | | | | | | Additional | | Other | | | | | Total | | | Preferred Stock* | | Common Stock | | Paid-In | | Comprehensive | | Accumulated | | Stockholders’ | (In thousands) | | Shares | | Amount | | Shares | | Amount | | Capital | | Gain (Loss) | | Deficit | | Equity (Deficit) | Balance, December 31, 2021 | | 77,697 | | $ | 81,523 | | 18,221 | | $ | 2 | | $ | 135,549 | | $ | 52 | | $ | (207,131) | | $ | (71,528) | Issuance of common stock upon conversion of Legacy Series C and C-1 preferred stock in connection with the Business Combination (Note3) | | (77,697) | | | (81,523) | | 57,380 | | | 6 | | | 81,517 | | | — | | | — | | | 81,523 | Issuance of common stock through Business Combination and PIPE Financing, net of transaction costs and derivative liabilities (Note 3) | | — | | | — | | 34,851 | | | 3 | | | 159,535 | | | — | | | — | | | 159,538 | Issuance of common stock upon exercise of stock options | | — | | | — | | 1,353 | | | — | | | 636 | | | — | | | — | | | 636 | Issuance of common stock upon exercise of common stock warrants | | — | | | — | | 3,937 | | | — | | | 5,039 | | | — | | | — | | | 5,039 | Issuance of common stock upon release of RSUs | | — | | | — | | 1,361 | | | — | | | — | | | — | | | — | | | — | Reclassification of loan and security agreement warrants to equity | | — | | | — | | — | | | — | | | 6,370 | | | — | | | — | | | 6,370 | Settlement of the first tranche of forward contract | | — | | | — | | — | | | — | | | (3,305) | | | — | | | — | | | (3,305) | Stock-based compensation | | — | | | — | | — | | | — | | | 22,522 | | | — | | | — | | | 22,522 | Capitalization of deferred costs to equity upon share issuance | | — | | | — | | — | | | — | | | (848) | | | | | | | | | (848) | Foreign currency translation gain | | — | | | — | | — | | | — | | | — | | | 47 | | | — | | | 47 | Net loss | | — | | | — | | — | | | — | | | — | | | — | | | (29,894) | | | (29,894) | Balance, June 30, 2022 | | — | | $ | — | | 117,103 | | $ | 11 | | $ | 407,015 | | $ | 99 | | $ | (237,025) | | $ | 170,100 |
* | Shares of legacy Redeemable Convertible Series C Preferred Stock, Redeemable Convertible Series C-1 Preferred Stock, legacy Class A Common Stock, and legacy Class B Common Stock have been retroactively restated to give effect to the Business Combination |
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