Matterport (MTTR) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-39790
Entity Registrant Name	Matterport, Inc./DE
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1695048
Entity Address, Address Line One	352 East Java Drive
Entity Address, City or Town	Sunnyvale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94089
City Area Code	650
Local Phone Number	641-2241
Title of 12(b) Security	Class A Common Stock, par value of $0.0001 per share
Trading Symbol	MTTR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		305,660,331
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001819394
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 80,142	$ 117,128
Short-term investments	327,682	355,815
Accounts receivable, net of allowance of $897 and $1,212, as of September 30, 2023 and December 31, 2022, respectively	17,205	20,844
Inventories	12,342	11,061
Prepaid expenses and other current assets	8,929	13,084
Total current assets	446,300	517,932
Property and equipment, net	32,821	30,559
Operating lease right-of-use assets	1,547	2,515
Long-term investments	21,881	3,959
Goodwill	69,593	69,593
Intangible assets, net	9,562	10,890
Other assets	7,502	4,947
Total assets	589,206	640,395
Current liabilities
Accounts payable	8,594	8,331
Deferred revenue	22,163	16,731
Accrued expenses and other current liabilities	15,344	23,916
Total current liabilities	46,101	48,978
Warrants liability	239	803
Deferred revenue, non-current	2,296	1,201
Other long-term liabilities	514	5,502
Total liabilities	49,150	56,484
Commitments and contingencies (Note 8)
Redeemable convertible preferred stock, $0.0001 par value; 30,000 shares authorized as of September 30, 2023 and December 31, 2022, respectively; nil shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	0	0
Stockholders’ equity:
Common stock, $0.0001 par value; 640,000 shares authorized as of September 30, 2023 and December 31, 2022, respectively; and 305,562 shares and 290,541 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	31	29
Additional paid-in capital	1,275,153	1,168,313
Accumulated other comprehensive loss	(599)	(5,034)
Accumulated deficit	(734,529)	(579,397)
Total stockholders’ equity	540,056	583,911
Total liabilities and stockholders’ equity	$ 589,206	$ 640,395

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 897,000	$ 1,212,000
Redeemable convertible preferred stock, par value ($ per share)	$ 0.0001	$ 0.0001
Redeemable convertible preferred, authorized (shares)	30,000,000	30,000,000
Redeemable convertible preferred, issued (shares)	0	0
Redeemable convertible preferred, outstanding (shares)	0	0
Common stock, par value ($ per share)	$ 0.0001	$ 0.0001
Common stock, authorized (shares)	640,000,000	640,000,000
Common stock, issued (shares)	305,562,000	290,541,000
Common stock, outstanding (shares)	305,562,000	290,541,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total revenue	$ 40,642	$ 37,993	$ 118,203	$ 94,984
Total cost of revenue	20,745	21,602	65,931	54,971
Gross profit	19,897	16,391	52,272	40,013
Operating expenses:
Research and development	15,577	19,084	52,711	66,604
Selling, general, and administrative	53,719	56,293	164,660	186,527
Total operating expenses	69,296	75,377	217,371	253,131
Loss from operations	(49,399)	(58,986)	(165,099)	(213,118)
Other income (expense):
Interest income	1,573	1,691	4,525	4,470
Change in fair value of warrants liability	513	0	564	26,147
Change in fair value of contingent earn-out liability	0	0	0	136,043
Other income (expense), net	2,669	(981)	5,075	(3,655)
Total other income	4,755	710	10,164	163,005
Loss before provision for income taxes	(44,644)	(58,276)	(154,935)	(50,113)
Provision for (benefit from) income taxes	110	(17)	197	876
Net loss	$ (44,754)	$ (58,259)	$ (155,132)	$ (50,989)
Net loss per share, basic and diluted
Basic ($ per share)	$ (0.15)	$ (0.20)	$ (0.52)	$ (0.18)
Diluted ($ per share)	$ (0.15)	$ (0.20)	$ (0.52)	$ (0.18)
Weighted-average shares used in per share calculation, basic and diluted
Basic (shares)	303,432	286,458	298,226	281,729
Diluted (shares)	303,432	286,458	298,226	281,729
Subscription
Total revenue	$ 22,850	$ 18,981	$ 63,565	$ 54,508
Total cost of revenue	7,379	6,592	21,576	17,963
License
Total revenue	28	21	82	70
Total cost of revenue	0	0	0	0
Services
Total revenue	9,936	10,015	29,324	19,001
Total cost of revenue	6,725	6,553	20,978	12,705
Product
Total revenue	7,828	8,976	25,232	21,405
Total cost of revenue	$ 6,641	$ 8,457	$ 23,377	$ 24,303

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (44,754)	$ (58,259)	$ (155,132)	$ (50,989)
Other comprehensive income (loss), net of taxes:
Unrealized gain (loss) on available-for-sale securities, net of tax	514	72	4,435	(6,039)
Other comprehensive income (loss)	514	72	4,435	(6,039)
Comprehensive loss	$ (44,240)	$ (58,187)	$ (150,697)	$ (57,028)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Common stock, outstanding, beginning (shares) at Dec. 31, 2021		250,173
Beginning balance at Dec. 31, 2021	$ 268,163	$ 25	$ 737,735	$ (1,539)	$ (468,058)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	71,904				71,904
Other comprehensive income (loss)	(4,635)			(4,635)
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding (shares)		6,295
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding	(14,497)	$ 1	(14,498)
Issuance of common stock upon the reverse recapitalization, net of transaction costs	76		76
Issuance of common stock to a customer (shares)		100
Issuance of common stock to a customer	559		559
Issuance of common stock upon exercise of public warrants (shares)		1,994
Issuance of common stock upon exercise of public warrants	34,055		34,055
Issuance of common stock in connection with acquisitions (shares)		1,215
Issuance of common stock in connection with acquisitions	19,118		19,118
Issuance of earn-out shares upon triggering events, net of tax withholding (shares)		21,494
Issuance of earn-out shares upon triggering events, net of tax withholding	(17,736)	$ 2	(17,738)
Earn-out liability recognized upon the re-allocation	(896)		(896)
Reclassification of remaining contingent earn-out liability upon triggering events	242,430		242,430
Stock-based compensation	61,097		61,097
Common stock, outstanding, ending (shares) at Mar. 31, 2022		281,271
Ending balance at Mar. 31, 2022	659,638	$ 28	1,061,938	(6,174)	(396,154)
Common stock, outstanding, beginning (shares) at Dec. 31, 2021		250,173
Beginning balance at Dec. 31, 2021	268,163	$ 25	737,735	(1,539)	(468,058)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(50,989)
Other comprehensive income (loss)	(6,039)
Reclassification of remaining contingent earn-out liability upon triggering events	242,430
Common stock, outstanding, ending (shares) at Sep. 30, 2022		287,408
Ending balance at Sep. 30, 2022	605,827	$ 29	1,132,423	(7,578)	(519,047)
Common stock, outstanding, beginning (shares) at Mar. 31, 2022		281,271
Beginning balance at Mar. 31, 2022	659,638	$ 28	1,061,938	(6,174)	(396,154)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(64,634)				(64,634)
Other comprehensive income (loss)	(1,476)			(1,476)
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding (shares)		2,340
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding	2,701		2,701
Issuance of common stock to a customer (shares)		32
Issuance of common stock to a customer	179		179
Stock-based compensation	34,799		34,799
Common stock, outstanding, ending (shares) at Jun. 30, 2022		283,643
Ending balance at Jun. 30, 2022	631,207	$ 28	1,099,617	(7,650)	(460,788)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(58,259)				(58,259)
Other comprehensive income (loss)	72			72
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding (shares)		3,757
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding	400	$ 1	399
Issuance of common stock in connection with acquisitions (shares)		8
Issuance of common stock in connection with acquisitions	101		101
Stock-based compensation	32,306		32,306
Common stock, outstanding, ending (shares) at Sep. 30, 2022		287,408
Ending balance at Sep. 30, 2022	$ 605,827	$ 29	1,132,423	(7,578)	(519,047)
Common stock, outstanding, beginning (shares) at Dec. 31, 2022	290,541	290,541
Beginning balance at Dec. 31, 2022	$ 583,911	$ 29	1,168,313	(5,034)	(579,397)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(53,842)				(53,842)
Other comprehensive income (loss)	2,223			2,223
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding (shares)		4,910
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding	357	$ 1	356
Issuance of common stock in connection with acquisitions (shares)		249
Issuance of common stock in connection with acquisitions	3,921		3,921
Stock-based compensation	33,510		33,510
Common stock, outstanding, ending (shares) at Mar. 31, 2023		295,700
Ending balance at Mar. 31, 2023	$ 570,080	$ 30	1,206,100	(2,811)	(633,239)
Common stock, outstanding, beginning (shares) at Dec. 31, 2022	290,541	290,541
Beginning balance at Dec. 31, 2022	$ 583,911	$ 29	1,168,313	(5,034)	(579,397)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(155,132)
Other comprehensive income (loss)	4,435
Reclassification of remaining contingent earn-out liability upon triggering events	$ 0
Common stock, outstanding, ending (shares) at Sep. 30, 2023	305,562	305,562
Ending balance at Sep. 30, 2023	$ 540,056	$ 31	1,275,153	(599)	(734,529)
Common stock, outstanding, beginning (shares) at Mar. 31, 2023		295,700
Beginning balance at Mar. 31, 2023	570,080	$ 30	1,206,100	(2,811)	(633,239)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(56,536)				(56,536)
Other comprehensive income (loss)	1,698			1,698
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding (shares)		4,871
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding	1,509		1,509
Stock-based compensation	34,751		34,751
Common stock, outstanding, ending (shares) at Jun. 30, 2023		300,571
Ending balance at Jun. 30, 2023	551,502	$ 30	1,242,360	(1,113)	(689,775)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(44,754)				(44,754)
Other comprehensive income (loss)	514			514
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding (shares)		4,875
Issuance of common stock in connection with employee equity incentive plans, net of tax withholding	1,114	$ 1	1,113
Issuance of common stock in connection with acquisitions (shares)		116
Issuance of common stock in connection with acquisitions	1,827		1,827
Stock-based compensation	$ 29,853		29,853
Common stock, outstanding, ending (shares) at Sep. 30, 2023	305,562	305,562
Ending balance at Sep. 30, 2023	$ 540,056	$ 31	$ 1,275,153	$ (599)	$ (734,529)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	1 Months Ended	3 Months Ended				9 Months Ended		12 Months Ended
	Jan. 31, 2022	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$ (44,754)	$ (53,842)	$ (58,259)	$ 71,904	$ (155,132)	$ (50,989)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization						14,130	9,237
Amortization of investment premiums, net of accretion of discounts						(5,511)	2,517
Stock-based compensation, net of amounts capitalized						90,674	116,738
Cease use of certain leased facilities						123	0
Change in fair value of warrants liability		(513)		0		(564)	(26,147)
Change in fair value of contingent earn-out liability		0		0		0	(136,043)
Deferred income taxes						(185)	(27)
Allowance for doubtful accounts		101		148		150	343
Loss of excess inventory and purchase obligation						1,592	52
Other						(60)	629
Changes in operating assets and liabilities, net of effects of businesses acquired:
Accounts receivable						3,489	(7,379)
Inventories						(6,833)	(6,135)
Prepaid expenses and other assets						2,491	(5,348)
Accounts payable						263	(4,154)
Deferred revenue						6,527	3,167
Accrued expenses and other liabilities						529	4,181
Net cash used in operating activities						(48,317)	(99,358)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment						(112)	(1,417)
Capitalized software and development costs						(7,528)	(9,890)
Purchase of investments						(368,119)	(87,997)
Maturities of investments						388,201	194,241
Business acquisitions, net of cash acquired						(4,116)	(51,874)
Net cash provided by investing activities						8,326	43,063
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from sales of shares through employee equity incentive plans						3,309	5,292
Payments for taxes related to net settlement of equity awards						(329)	(34,424)
Proceeds from exercise of warrants	$ 27,800					0	27,844
Other						0	76
Net cash provided by (used in) financing activities						2,980	(1,212)
Net change in cash, cash equivalents, and restricted cash						(37,011)	(57,507)
Effect of exchange rate changes on cash						25	(628)
Cash, cash equivalents, and restricted cash at beginning of year	$ 139,987		$ 117,128		139,987	117,128	139,987	$ 139,987
Cash, cash equivalents, and restricted cash at end of period		$ 80,142		$ 81,852		80,142	81,852	$ 117,128
Supplemental disclosures of non-cash investing and financing information
Earn-out liability recognized upon the re-allocation						0	896
Reclassification of remaining contingent Earn-out liability upon triggering events					$ 242,430	0	242,430
Common stock issued in connection with acquisition						5,748	19,219
Unpaid cash consideration in connection with acquisition						$ 0	$ 4,348

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS Matterport, Inc., together with its subsidiaries (“Matterport” or the “Company”), is leading the digitization and datafication of the built world. Matterport’s pioneering technology has set the standard for digitizing, accessing and managing buildings, spaces and places online. Matterport’s platform, comprised of innovative software, spatial data-driven data science, and 3D capture technology, has broken down the barriers that have kept the largest asset class in the world, buildings and physical spaces, offline and underutilized for so long. The Company was incorporated in the state of Delaware in 2011. The Company is headquartered at Sunnyvale, California. On July 22, 2021 (the “Closing Date”), the Company consummated the merger (collectively with the other transactions described in the Merger Agreement, the “Merger”, “Closing”, or “Transactions”) pursuant to an Agreement and Plan of Merger, dated February 7, 2021 (the “Merger Agreement”), by and among the Company (formerly known as Gores Holdings VI, Inc.), the pre-Merger Matterport, Inc. (now known as Matterport Operating, LLC) (“Legacy Matterport”), Maker Merger Sub, Inc. (“First Merger Sub”), a direct, wholly owned subsidiary of the Company, and Maker Merger Sub II, LLC (“Second Merger Sub”), a direct, wholly owned subsidiary of the Company, pursuant to which First Merger Sub merged with and into Legacy Matterport, with Legacy Matterport continuing as the surviving corporation (the “First Merger”), and immediately following the First Merger and as part of the same overall transaction as the First Merger, Legacy Matterport merged with and into Second Merger Sub, with Second Merger Sub continuing as the surviving entity as a wholly owned subsidiary of the Company, under the new name “Matterport Operating, LLC”. Upon the closing of the Merger, we changed our name to Matterport, Inc. Unless the context otherwise requires, the “Company” refers to the combined company and its subsidiaries following the Merger, “Gores” refers to the Company prior to the Merger and “Legacy Matterport” refers to Matterport, Inc. prior to the Merger.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in “Note 2 - Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on February 28, 2023. There have been no significant changes to these policies during the three and nine months ended September 30, 2023 . Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the SEC, regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or o mitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company’s 2022 Form 10-K for the fiscal year ended December 31, 2022, which provides a more complete discussion of the Company’s accounting policies and certain other information. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2023, and its results of operations for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022. The condensed consolidated balance sheet as of December 31, 2022, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures in the condensed consolidated financial statements and accompanying notes. Significant estimates include assumptions related to the fair value of common stock before the Merger and other assumptions used to measure stock-based compensation, fair value of assets acquired and liabilities assumed in business combinations, fair value of identified intangibles, goodwill impairment, valuation of deferred tax assets, the estimate of net realizable value of inventory, allowance for doubtful accounts, the fair value of warrants liability, loss contingencies, and the determination of stand-alone selling price of various performance obligations. As a result, many of the Company’s estimates and assumptions required increased judgment and these estimates may change materially in future periods. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and various other factors, including the current economic environment, which management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company adjusts such estimates and assumptions when dictated by facts and circumstances. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the c ondensed consolidated financial statements in future periods. Actual results may differ materially from those estimates. Segment Information The Company has a single operating segment and reportable segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. Refer to Note 3 for information regarding the Company’s revenue by geography. Substantially all of the Company’s long-lived assets are located in the United States. Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, investments, and accounts receivable. The Company maintains its cash balances in accounts held by major banks and financial institutions located in the United States. Such bank deposits from time to time may be exposed to credit risk in excess of the Federal Deposit Insurance Corporation insurance limit, and the Company considers such risk to be minimal. We invest only in high-quality credit instruments and maintain our cash and cash equivalents and available-for-sale investments in fixed income securities. Management believes that the financial institutions that hold our investments are financially sound and, accordingly, are subject to minimal credit risk. Deposits held with banks may exceed the amount of insurance provided on such deposits. The Company’s accounts receivable is derived from customers located both inside and outside the United States. The Company mitigates its credit risks by performing ongoing credit evaluations of the financial condition of its customers and requires advance payment from customers in certain circumstances. The Company generally does not require collateral from its customers. No customer accounted for more than 10% of the Company’s total accounts receivable at September 30, 2023 and December 31, 2022. No customer accounted for more than 10% of the Company’s total revenue for the three and nine months ended September 30, 2023 and 2022. Restructuring Costs The Company’s restructuring costs consist of a one-time payment of termination benefits and the ongoing cost of benefits related to the reduction of its workforce and other costs, and the charges related to the cease use of certain facilit ies to align with the Company’s anticipated operating needs. The timing of recognition for severance costs depends on whether employees are required to render service until they are terminated in order to receive the termination benefits. If employees are required to render service until they are terminated in order to receive the termination benefits, a liability is recognized ratably over the future service period. Otherwise, a liability is recognized when management has committed to a restructuring plan and has communicated those actions to employees. Employee termination benefit costs covered by existing benefit arrangements are recognized when management has committed to a restructuring plan and has determined the severance costs are probable and estimable. Other costs primarily consist of cease use charges for the related operating lease right-of-use assets for office leases, which are recognized ratably from the decision date to the cease-use date. Recently Adopted Accounting Standards In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ASU 2021-08 requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contract with Customers, as if it had originated the contracts. The Company adopted this standard effective January 1, 2023, which did not have a material impact on the Company’s condensed consolidated financial statements.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregated Revenue —The following table shows the revenue by geography for the three and nine months ended September 30, 2023 and 2022, respectively (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue: United States $ 26,667 $ 25,310 $ 76,130 $ 58,187 International 13,975 12,683 42,073 36,797 Total revenue $ 40,642 $ 37,993 $ 118,203 $ 94,984 No country other than the United States accounted for more than 10% of the Company’s revenue for the three and nine months ended September 30, 2023 and 2022, respectively. The geographical revenue information is determined by the ship-to address of the products and the billing address of the customers of the services. The following table shows over time versus point-in-time revenue for the three and nine months ended September 30, 2023 and 2022, respectively (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Over time revenue $ 32,786 $ 28,996 $ 92,889 $ 73,509 Point-in-time revenue 7,856 8,997 25,314 21,475 Total $ 40,642 $ 37,993 $ 118,203 $ 94,984 Contract Asset and Liability Balances —Contract assets consist of unbilled accounts receivable and are recorded when revenue is recognized in advance of scheduled billings. The timing of revenue recognition differs from the timing of invoicing to customers and this timing difference results in contract liabilities (deferred revenue) on the Company’s condensed consolidated balance sheets. The accounts receivable and contract balances as of September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, December 31, Accounts receivable, net $ 15,351 $ 19,037 Unbilled accounts receivable $ 1,854 $ 1,807 Deferred revenue $ 24,459 $ 17,932 During the nine months ended September 30, 2023 and 2022, the Company recognized revenue of $13.3 million and $8.6 million that was included in the deferred revenue balance at the beginning of the fiscal year, respectively. Contracted but unsatisfied performance obligations were $62.0 million at the end of September 30, 2023 and consisted of deferred revenue and backlog. The contracted but unsatisfied or partially unsatisfied performance obligations expected to be recognized over the next 12 months at the end of September 30, 2023 were $41.7 million, and the remaining obligations are expected to be recognized thereafter.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS VHT, Inc. Acquisition On June 10, 2022, the Company entered into an Agreement and Plan of Merger (the “Purchase Agreement”) with VHT, Inc. (“VHT”), known as VHT Studios, a U.S.-based real estate marketing company that offers brokerages and agents digital solutions to promote and sell properties. On July 7, 2022 (the “VHT Acquisition Date”), pursuant to the Purchase Agreement, the Company completed the acquisition of VHT (the “VHT Acquisition”), which expands Matterport Capture Services by bringing together Matterport digital twins with professional photography, drone capture and marketing services. With this acquisition, the Company aims to increase adoption of digital twin technology and expand further into the residential real estate industry while adding marketing services for other key markets such as commercial real estate, travel and hospitality, and the retail sector. Under the terms of the Purchase Agreement, the consideration consisted of an all-cash purchase price of $23.0 million subject to certain adjustments based on a determination of closing net working capital, transaction expenses, cash and investments and closing indebtedness. The total purchase consideration for the VHT Acquisition was $22.7 million. The Company has accounted for the VHT Acquisition as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on the estimated fair values at the VHT Acquisition Date, as presented in the following table (in thousands): Amount Goodwill $ 15,603 Identified intangible assets 6,900 Net assets acquired 215 Total $ 22,718 Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from leveraging VHT’s customer relationships. The goodwill is not deductible for income tax purposes. The following table summarizes the preliminary estimated fair values and estimated useful lives of the components of identifiable intangible assets acquired as of the VHT Acquisition Date (in thousands, except years): Fair Value Estimated Useful Life Customer Relationships $ 6,900 10 years Customer relationships represent the fair value of future projected revenue that will be derived from sales to existing customers of VHT. The economic useful life was determined based on historical customer turnover rates and industry benchmarks. The fair value of customer relationships was estimated using the multi-period excess earnings method, an income approach (Level 3), which converts projected revenues and costs into cash flows. Significant assumptions used in the discounted cash flow analysis for direct customer relationships were the revenue growth rate, customer attrition rate, earnings before interest, taxes, depreciation, and amortization (“EBITDA”) margins, and discount rate. Unaudited Pro Forma Financial Information The following table summarizes the pro forma consolidated information for the Company assuming the acquisition of VHT had occurred as of January 1, 2021. The unaudited pro forma information for all periods presented includes the business combination accounting effects resulting from the acquisition, including amortization for intangible assets acquired and acquisition-related charges. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal year 2021. Three Months Ended September 30, Nine Months Ended September 30, 2022 2022 (in thousands, except per share data) Total revenue $ 38,345 $ 105,432 Net loss $ (58,118) $ (50,103) Basic earnings per share $ (0.20) $ (0.18) Diluted earnings per share $ (0.20) $ (0.18) Enview Inc. Acquisition On January 5, 2022 (the “Enview Acquisition Date”), the Company completed the acquisition (the “Enview Acquisition”) of Enview, Inc. (“Enview”), a privately-held company engaged in the development of artificial intelligence algorithms to identify natural and man-made features in geospatial data using various techniques. The total purchase consideration for the Enview Acquisition was $64.3 million, including an insignificant working capital adjustment finalized during the measurement period that reduced the purchase price for Enview. The total purchase consideration consisted of the following (in thousands): Amount Cash (1) $ 39,336 Common stock (1.6 million shares) (2) 24,988 Total $ 64,324 (1) The Company paid $2.4 million and $4.3 million in cash consideration during the three and nine months ended September 30, 2023, respectively and nil and $35.0 million in cash consideration during the three and nine months ended September 30, 2022. (2) On the Enview Acquisition Date, the Company's closing stock price was $15.73 per share. The Company issued 0.1 million and 0.4 million shares during the three and nine months ended September 30, 2023, respectively, and nil and 1.2 million shares during the three and nine months ended September 30, 2022. The Company has accounted for the Enview Acquisition as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on the fair values at the Enview Acquisition Date. The purchase price allocation includes adjustments for additional information that existed as of the Acquisition Date but at that time was unknown and became known during the measurement period of 12 months from the Acquisition Date. The following table summarizes the allocation of purchase consideration on the Enview Acquisition Date, inclusive of measurement period adjustments (in thousands): Amount Goodwill $ 53,990 Identified intangible assets 5,400 Net assets acquired 4,934 Total $ 64,324 Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from integrating Enview technology with Matterport’s products and services. The goodwill is not deductible for income tax purposes. The following table summarizes the estimated fair values and estimated useful lives of the components of identifiable intangible assets acquired as of the Enview Acquisition Date (in thousands, except years): Fair Value Estimated Useful Life Developed technology $ 5,400 5 years Developed technology relates to existing Enview technology of its artificial intelligence algorithms to identify natural and man-made features in geospatial data. The economic useful life was determined based on the technology cycle related to the developed technology of existing services, as well as the cash flows anticipated over the forecasted periods. The fair value of developed technology was estimated using the multi-period excess earnings method, an income approach (Level 3), which converts projected revenues and costs into cash flows. Significant assumptions used in the discounted cash flow analysis for the developed technology were the revenue growth rates, EBITDA margins, obsolescence technology factor, and discount rate. Pro forma results of operations have not been presented because the effects of the Enview Acquisition were not material to the Company’s condensed consolidated statements of operations. Acquisition-related transaction costs are expensed as incurred and are recorded in selling, general, and administrative expenses in the Condensed Consolidated Statements of Operations. The Company incurred $0.2 million and $1.6 million of acquisition-related costs for the three and nine months ended September 30, 2022, respectively. There were no acquisition-related costs incurred for the three and nine months ended September 30, 2023.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill — As of September 30, 2023 and December 31, 2022 , goodwill was $69.6 million. The Company did not recognize any impairment losses on goodwill during the three and nine months ended September 30, 2023 and 2022, respectively. Purchased Intangible Assets —The following table presents details of the Company’s purchased intangible assets as of September 30, 2023 and December 31, 2022 (in thousands). September 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Developed technology $ 5,400 $ (1,876) $ 3,524 $ 5,400 $ (1,065) $ 4,335 Customer relationships 6,900 (862) 6,038 6,900 (345) 6,555 Total $ 12,300 $ (2,738) $ 9,562 $ 12,300 $ (1,410) $ 10,890 The Company recognized amortization expense of $0.4 million and $0.5 million for the three months ended September 30, 2023 and 2022, respectively, and $1.3 million and $1.0 million for the nine months ended September 30, 2023 and 2022, respectively. The Company did not recognize any impairment losses on intangible assets or other long-lived assets during the three and nine months ended September 30, 2023 and 2022, respectively. The following table summarizes estimated future amortization expense for the Company’s intangible assets as of September 30, 2023 (in thousands): Amount Remaining 2023 $ 442 2024 1,770 2025 1,770 2026 1,770 2027 705 2028 and thereafter 3,105 Total future amortization expense $ 9,562

BALANCE SHEET COMPONENTS

BALANCE SHEET COMPONENTS	9 Months Ended
	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
BALANCE SHEET COMPONENTS	BALANCE SHEET COMPONENTS Allowance for Doubtful Accounts —Allowance for doubtful accounts as of September 30, 2023 and 2022 and the rollforward for three and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance—beginning of period $ (933) $ (421) $ (1,212) $ (291) Increase in reserves (101) (148) (150) (343) Write-offs 137 — 465 65 Balance—end of period $ (897) $ (569) $ (897) $ (569) Inventories —Inventories as of September 30, 2023 and December 31, 2022, consisted of the following (in thousands): September 30, December 31, Finished goods $ 1,136 $ 2,112 Work in process 7,094 3,477 Purchased parts and raw materials 4,112 5,472 Total inventories $ 12,342 $ 11,061 Property and Equipment, Net —Property and equipment as of September 30, 2023 and December 31, 2022, consisted of the following (in thousands): September 30, December 31, Machinery and equipment $ 4,060 $ 3,948 Furniture and fixtures 355 355 Leasehold improvements 718 734 Capitalized software and development costs 70,630 55,662 Total property and equipment 75,763 60,699 Accumulated depreciation and amortization (42,942) (30,140) Total property and equipment, net $ 32,821 $ 30,559 Depreciation and amortization expenses of property and equipment were $4.6 million and $3.3 million for the three months ended September 30, 2023 and 2022, respectively, and $12.8 million and $8.3 million for the nine months ended September 30, 2023 and 2022, respectively. Additions to capitalized software and development costs, inclusive of stock-based compensation in the three months ended September 30, 2023 and 2022 were $4.7 million and $5.7 million, respectively. Additions to capitalized software and development costs, inclusive of stock-based compensation in the nine months ended September 30, 2023 and 2022 were $15.0 million and $21.4 million, respectively. These are recorded as part of property and equipment, net on the condensed consolidated balance sheets. Amortization expense was $4.4 million and $3.0 million for three months ended September 30, 2023 and 2022, respectively, of which $4.0 million and $2.8 million was recorded to cost of revenue related to subscription and $0.4 million and $0.2 million to selling, general and administrative in the condensed consolidated statements of operations, respectively. Amortization expense was $12.2 million and $7.8 million for the nine months ended September 30, 2023 and 2022, respectively, of which $11.2 million and $7.0 million was recorded to cost of revenue related to subscription and $1.0 million and $0.8 million to selling, general and administrative in the condensed consolidated statements of operations, respectively. Accrued Expenses and Other Current Liabilities —Accrued expenses and other current liabilities as of September 30, 2023 and December 31, 2022, consisted of the following (in thousands): September 30, December 31, Accrued compensation $ 5,002 $ 5,609 Tax payable 1,203 1,669 ESPP contribution 871 341 Current unpaid acquisition consideration — 6,109 Short-term operating lease liabilities 1,293 1,267 Accrued loss on firm inventory purchase commitments 31 3,991 Other current liabilities 6,944 4,930 Total accrued expenses and other current liabilities $ 15,344 $ 23,916

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We categorize assets and liabilities recorded or disclosed at fair value on our condensed consolidated balance sheets based upon the level of judgment associated with inputs used to measure their fair value. The categories are as follows: Level 1 —Inputs are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 —Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 —Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The inputs require significant management judgment or estimation. The Company’s financial assets and liabilities that were measured at fair value on a recurring basis were as follows (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 60,730 $ — $ — $ 60,730 Total cash equivalents $ 60,730 $ — $ — $ 60,730 Short-term investments: U.S. government and agency securities $ 238,503 $ — $ — $ 238,503 Non-U.S. government and agency securities — 19,681 — 19,681 Corporate debt securities — 41,757 — 41,757 Commercial paper — 27,741 — 27,741 Total short-term investments $ 238,503 $ 89,179 $ — $ 327,682 Long-term investments: U.S. government and agency securities $ 21,881 $ — $ — $ 21,881 Total long-term investments $ 21,881 $ — $ — $ 21,881 Total assets measured at fair value $ 321,114 $ 89,179 $ — $ 410,293 Financial Liabilities: Private warrants liability $ — $ — $ 239 $ 239 Total liabilities measured at fair value $ — $ — $ 239 $ 239 December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 51,557 $ — $ — $ 51,557 Total cash equivalents $ 51,557 $ — $ — $ 51,557 Short-term investments: U.S. government and agency securities $ 181,714 $ — $ — $ 181,714 Non-U.S. government and agency securities — 24,946 — 24,946 Corporate debt securities — 114,113 — 114,113 Commercial paper — 35,042 — 35,042 Total short-term investments $ 181,714 $ 174,101 $ — $ 355,815 Long-term investments: Corporate debt securities $ — $ 3,959 $ — $ 3,959 Total long-term investments $ — $ 3,959 $ — $ 3,959 Total assets measured at fair value $ 233,271 $ 178,060 $ — $ 411,331 Financial Liabilities: Private warrants liability $ — $ — $ 803 $ 803 Total liabilities measured at fair value $ — $ — $ 803 $ 803 Available-for-sale Debt Securities The following tables summarize the amortized cost, unrealized gains and losses, and fair value of our available-for-sale debt securities as of September 30, 2023 and December 31, 2022 (in thousands): September 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Investments: U.S. government and agency securities $ 260,661 $ — $ (277) $ 260,384 Non-U.S. government and agency securities 19,741 — (60) 19,681 Corporate debt securities 41,934 — (177) 41,757 Commercial paper 27,774 — (33) 27,741 Total available-for-sale investments $ 350,110 $ — $ (547) $ 349,563 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Investments: U.S. government and agency securities $ 185,371 $ — $ (3,657) $ 181,714 Non-U.S. government and agency securities 24,989 — (44) 24,945 Corporate debt securities 119,396 — (1,324) 118,072 Commercial paper 35,052 — (9) 35,043 Total available-for-sale investments $ 364,808 $ — $ (5,034) $ 359,774 As of September 30, 2023, the gross unrealized losses of $0.5 million are substantially all in a continuous unrealized loss position for less than 12 months, which were related to $341.6 million of available-for-sale debt securities. As of December 31, 2022, the gross unrealized losses that have been in a continuous unrealized loss position for less than 12 months were $0.2 million, which were related to $49.4 million of available-for-sale debt securities, and the gross unrealized losses that have been in a continuous unrealized loss position for more than 12 months were $4.8 million, which were related to $291.0 million of available-for-sale debt securities. Unrealized losses related to these securities are due to interest rate fluctuations as opposed to credit quality. In addition, we do not intend to sell and it is not likely that we would be required to sell these securities before recovery of their amortized cost basis, which may be at maturity. We did not recognize any credit losses related to our available-for sale debt securities during the three and nine months ended September 30, 2023 and 2022 . The following table summarizes the amortized cost and fair value of our available-for-sale debt securities as of September 30, 2023, by contractual years-to-maturity (in thousands): September 30, 2023 Amortized Cost Fair Value Due within one year $ 328,208 $ 327,682 Due between one and three years 21,902 21,881 Total $ 350,110 $ 349,563

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Purchase Obligation —T he Company has purchase obligations, which include agreements and issued purchase orders containing non-cancelable payment terms to purchase goods and services. As of September 30, 2023, future minimum purchase obligations are as follows (in thousands): Purchase Remainder of 2023 $ 6,337 2024 9,125 2025 185 Thereafter — Total $ 15,647 Litigation —The Company is named from time to time as a party to lawsuits and other types of legal proceedings and claims in the normal course of business. The Company accrues for contingencies when it believes that a loss is probable and that it can reasonably estimate the amount of any such loss. On July 23, 2021, plaintiff William J. Brown, a former employee and a shareholder of Matterport, Inc. (now known as Matterport Operating, LLC) (“Legacy Matterport”), sued Legacy Matterport, Gores Holdings VI, Inc. (now known as Matterport, Inc.), Maker Merger Sub Inc., Maker Merger Sub II, LLC, and Legacy Matterport directors R.J. Pittman, David Gausebeck, Matt Bell, Peter Hebert, Jason Krikorian, Carlos Kokron and Michael Gustafson (collectively, the “Defendants”) in the Court of Chancery of the State of Delaware. The plaintiff’s initial complaint claimed that Defendants imposed invalid transfer restrictions on his shares of Matterport stock in connection with the merger transactions between Matterport, Inc. and Legacy Matterport (the “Transfer Restrictions”), and that Legacy Matterport’s board of directors violated their fiduciary duties in connection with a purportedly misleading letter of transmittal. The initial complaint sought damages and costs, as well as a declaration from the court that he may freely transfer his shares of Class A common stock of Matterport received in connection with the merger transactions. An expedited trial regarding the facial validity of the Transfer Restrictions took place in December 2021. On January 11, 2022, the court issued a ruling that the Transfer Restrictions did not apply to the plaintiff. The opinion did not address the validity of the Transfer Restrictions more broadly. Matterport filed a notice of appeal of the court’s ruling on February 8, 2022, and a hearing was held in front of the Delaware Supreme Court on July 13, 2022, after which the appellate court affirmed the lower court’s ruling. Separate proceedings regarding the plaintiff’s remaining claims are pending. The plaintiff filed a Third Amended Complaint on September 16, 2022, which asserts the causes of action described above but omits as defendants Maker Merger Sub Inc., Maker Merger Sub II, LLC, and Legacy Matterport directors David Gausebeck, Matt Bell, and Carlos Kokron, and adds an additional cause of action alleging that Matterport, Inc. violated the Delaware Uniform Commercial Code by failing to timely register Brown’s requested transfer of Matterport, Inc. shares. The remaining defendants’ answer to the Third Amended Complaint was filed on November 9, 2022, and the parties have completed discovery. Trial is scheduled to begin November 13, 2023. On July 20, 2021, the Company, then operating under the name Gores Holdings VI, Inc., held a special meeting of stockholders (the “2021 Special Meeting”) in lieu of the 2021 annual meeting of the Company’s stockholders to approve certain matters relating to its proposed business combination with Matterport, Inc., Maker Merger Sub, Inc. and Maker Merger Sub II, LLC. One of these matters was a proposal to adopt the Second Amended and Restated Certificate of Incorporation of the Company (the “New Certificate of Incorporation”), which, among other things, increased the total number of authorized shares of the Company’s Class A common stock, par value $0.0001 per share (the “Class A common stock”), from 400,000,000 shares to 600,000,000 shares. The New Certificate of Incorporation was approved by a majority of the shares of Class A common stock and the Company’s Class F common stock, par value $0.0001 per share (the “Class F common stock”), voting together as a single class, that were outstanding as of the record date for the 2021 Special Meeting. After the 2021 Special Meeting, the business combination was consummated and the New Certificate of Incorporation became effective. A December 2022 decision of the Delaware Court of Chancery (the “Court of Chancery”) has created uncertainty as to whether Section 242(b)(2) of the Delaware General Corporation Law (“DGCL”) would have required the New Certificate of Incorporation to be approved by a separate vote of the majority of the Company’s then-outstanding shares of Class A common stock, in addition to a majority of the shares of Class A common stock and Class F common stock voting together. The Company continues to believe that a separate vote of Class A common stock was not required to approve the New Certificate of Incorporation. However, in light of the recent Court of Chancery decision, on February 16, 2023 the Company filed a petition (the “Petition”) in the Court of Chancery pursuant to Section 205 of the DGCL seeking validation of the New Certificate of Incorporation, and the shares issued in reliance on the effectiveness of the New Certificate of Incorporation to resolve any uncertainty with respect to those matters. Section 205 of the DGCL permits the Court of Chancery, in its discretion, to ratify and validate potentially defective corporate acts and stock after considering a variety of factors. On March 14, 2023, the Court of Chancery granted the Petition validating the New Certificate of Incorporation and all shares of capital stock issued in reliance on the effectiveness of the New Certificate of Incorporation. On May 11, 2020, Redfin Corporation (“Redfin”) was served with a complaint by Appliance Computing, Inc. III, d/b/a Surefield (“Surefield”), filed in the United States District Court for the Western District of Texas, Waco Division. In the complaint, Surefield asserted that Redfin’s use of Matterport’s 3D-Walkthrough technology infringes four of Surefield’s patents. Redfin has asserted defenses in the litigation that the patents in question are invalid and have not been infringed upon. We have agreed to indemnify Redfin for this matter pursuant to our existing agreements with Redfin. The parties have vigorously defended against this litigation. The matter went to jury trial in May 2022 and resulted in a jury verdict finding that Redfin had not infringed upon any of the asserted patent claims and that all asserted patent claims were invalid. Final judgment was entered on August 15, 2022. On September 12, 2022, Surefield filed post trial motions seeking to reverse the jury verdict. Redfin has filed oppositions to the motions. In addition, on May 16, 2022, the Company filed a declaratory judgment action against Appliance Computing III, Inc., d/b/a Surefield, seeking a declaratory judgment that the Company had not infringed upon the four patents asserted against Redfin and one additional, related patent. The matter is pending in the Western District of Washington and captioned Matterport, Inc. v. Appliance Computing III, Inc. d/b/a Surefield, Case No. 2:22-cv-00669 (W.D. Wash.). Surefield has filed a motion to dismiss or in the alternative transfer the case to the United States District Court for the Western District of Texas. The Company filed an opposition to the motion. On August 28, 2023, the Court denied Surefield’s motion to dismiss but stayed the action pending the resolution of the Texas case. On January 29, 2021, Legacy Matterport received a voluntary request for information from the Division of Enforcement of the SEC relating to certain sales and repurchases of its securities in the secondary market. We believe we have complied fully with the request. We have not received any updates from the SEC as to the scope, duration or ultimate resolution of the investigation. The Company monitors developments in these legal matters that could affect the estimate if the Company had previously accrued. As of September 30, 2023 and December 31, 2022, there were no amounts accrued that the Company believes would be material to its financial position. Indemnification —In the ordinary course of busi ness, the Company enters into certain agreements that provide for indemnification by the Company of varying scope and terms to customers, vendors, directors, officers, employees and other parties with respect to certain matters. Indemnification includes losses from breach of such agreements, services provided by the Company, or third-party intellectual property infringement claims. These indemnities may survive termination of the underlying agreement and the maximum potential amount of future indemnification payments, in some circumstances, are not subject to a c ap. As of September 30, 2023, there were no known events or circumstances that have resulted in a material indemnification liability.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY The Company had reserved shares of common stock for future issuance as of September 30, 2023 as follows (in thousands): September 30, Private warrants to purchase common stock 1,708 Common stock options outstanding and unvested RSUs under the Amended and Restated 2011 Stock Incentive Plan 59,325 Shares available for future grant under 2021 Employee Stock Purchase Plan 11,378 Shares available for future grant under 2021 Incentive Award Plan 10,676 Total shares of common stock reserved 83,087 Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss by component, net of tax (in thousands) : Foreign Currency Translation, Net of Tax Unrealized Gains/Losses on Available-for-Sale Debt Securities, Net of Tax Total Balance at December 31, 2022 $ (52) $ (4,982) $ (5,034) Net unrealized gain — 4,435 4,435 Balance at September 30, 2023 $ (52) $ (547) $ (599) Foreign Currency Translation, Net of Tax Unrealized Losses on Available-for-Sale Debt Securities, Net of Tax Total Balance at December 31, 2021 $ (52) $ (1,487) $ (1,539) Net unrealized loss — (6,039) (6,039) Balance at September 30, 2022 $ (52) $ (7,526) $ (7,578)

PUBLIC AND PRIVATE WARRANTS

PUBLIC AND PRIVATE WARRANTS	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
PUBLIC AND PRIVATE WARRANTS	PUBLIC AND PRIVATE WARRANTS Prior to the Closing, Gores issued 6,900,000 Public Warrants and 4,450,000 Private Warrants. Each whole warrant entitles the holder to purchase one share of the Company’s Class A common stock at a price of $11.50 per share, subject to adjustments. The Warrants became exercisable on December 15, 2021 and will expire on July 22, 2026, which is five years after the Closing. On January 14, 2022, the Public Warrants ceased trading on the Nasdaq Global Market. As of the Redemption Date of January 14, 2022, a total of 9.1 million shares of Common Stock have been issued upon the exercise of 6.4 million Public Warrants and 2.7 million Private Warrants by the holders thereof at an exercise price of $11.50 per share, resulting in aggregate proceeds to Matterport of $104.4 million , including 7.1 million shares issued upon the exercise of Public Warrants and Private Warrants by t he holders with a total proceeds of $76.6 million received during the year ended December 31, 2021 and 2.0 million shares issued upon the exercise of 2.0 million Public Warrants with a total proceeds of $27.8 million received in January 2022. The remaining 0.6 million unexercised and outstanding Public Warrants as of 5:00 p.m. January 14, 2022 New York City time were redeemed at a price of $0.01 per Public Warrant and, as a result, no Public Warrants remained outstanding thereafter. Warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement simultaneously with the Company’s initial public offering and that are still held by the initial holders thereof or their permitted transferees were not subject to this redemption. A total of 1.7 million Private Warrants remained outstanding as of September 30, 2023 and December 31, 2022 . No Private Warrants have been exercised during the three and nine months ended September 30, 2023 . The Public Warrants were classified as Level 1 because there was adequate trading volume to provide a reliable indication of value from the Closing Date to the Redemption Date. The Private Warrants were classified as Level 2, from the Closing Date until the Redemption Date, because the Private Warrants had similar terms and were subject to substantially the same redemption features as the Public Warrants. The fair value of the Private Warrants was deemed to be substantially the same as the fair value of the Public Warrants. Both the Public Warrants and the Private Warrants were valued at $2.00 per unit as of the Redemption Date. Upon the ceasing of trading of the Public Warrants on the Redemption Date, the fair value measurement of Private Warrants transferred from Level 2 to Level 3 and the Company used a Black Scholes model to determine the fair value of the Private Warrants. The primary significant unobservable input used to evaluate the fair value measurement of the Company’s Private Warrants is the expected volatility of the ordinary shares. Significant increase or decrease in the expected volatility in isolation would result in a significant change in fair value measurement. The Private Warrants were valued at $0.14 per unit as of September 30, 2023. The following table provides the assumptions used to estimate the fair value of the Private Warrants as of September 30, 2023: September 30, 2023 Current stock price $ 2.17 Strike price $ 11.50 Expected term (in years) 2.81 Expected volatility 62.0% Risk-free interest rate 4.7% Expected dividend yield —% The Private Warrants are measured for fair value at the end of each quarter. The following table presents the changes in the warrants liability as of September 30, 2023 (in thousands): Total Warrants Liability Fair value at December 31, 2022 $ 803 Change in fair value (564) Fair value at September 30, 2023 $ 239

CONTINGENT EARN-OUT AWARDS

CONTINGENT EARN-OUT AWARDS	9 Months Ended
	Sep. 30, 2023
Reverse Recapitalization [Abstract]
CONTINGENT EARN-OUT AWARDS	CONTINGENT EARN-OUT AWARDS Legacy Matterport stockholders and certain holders of Legacy Matterport Stock Options and RSUs were entitled to receive a number of Earn-out Shares comprising up to 23.5 million shares of Class A common stock in the aggregate. There are six distinct tranches, and each tranche has 3,910,000 Earn-out Shares. Pursuant to the Merger Agreement, Common Share Price means the share price equal to the volume weighted average price of the Matterport Class A common stock for a period of at least 10 days out of 30 consecutive trading days ending on the trading day immediately prior to the date of determination. If the Common Share Price exceeds $13.00, $15.50, $18.00, $20.50, $23.00, and $25.50, t he Earn-out Shares are issuable during the period beginning on the 180th day following the Closing and ending on the fifth anniversary of such date (the “ Earn-out Period”). The Earn-out Shares are subject to early release if a change of control that will result in the holders of the Company common stock receiving a per share price equal to or in excess of the price target as above (collectively, the “Earn-Out Triggering Events”). Any Earn-out Shares issuable to any holder of Matterport Stock Options and Matterport RSUs in respect of such Matterport Stock Options and Matterport RSUs shall be issued to such holder only if such holder continues to provide services to the Post-Combination Company through the date of the occurrence of the corresponding triggering event that causes such Earn-out Shares to become issuable. Any Earn-out Shares that are forfeited pursuant to the preceding sentence shall be reallocated to the other Legacy Matterport stockholders and Legacy Matterport stock options and RSUs holders who remain entitled to receive Earn-out Shares in accordance with their respective Earn-out pro rata shares. At the Closing, the estimated fair value of the total Earn-out Shares was $294.8 million. The contingent obligation to issue Earn-out Shares to Legacy Matterport stockholders was accounted for as a liability because the Earn-out Triggering Events that determine the number of Earn-out Shares required to be issued include events that are not solely indexed to the Common Stock of Matterport, Inc. The Earn-out pro rata Shares issuable to holders of Legacy Matterport’s RSUs and holders of Legacy Matterport’s Stock Options are accounted for as a stock-based compensation expense as they are subject to forfeiture based on the satisfaction of certain employment conditions, see Note 12 “Stock Plan” for more information. The Company recognized $231.6 million of contingent earn-out liability attributable to the Earn-out Shares to Matterport legacy Stockholders upon the Closing on July 22, 2021. On January 18, 2022, all six Earn-out Triggering Events for issuing up to 23.5 million Earn-out Shares occurred. A total of 18.8 million shares of common stock became issuable to the eligible Matterport legacy Stockholders. Another total of 4.7 million pro rata Earn-out Shares became issuable to holders of Matterport's eligible legacy RSU and options holders were immediately vest ed. The Company issued an aggregate of 21.5 million Earn-out Shares to the eligible Legacy Matterport stockholders and Legacy Matterport RSU and stock option holders, which reflects the withholding of approximately 2.0 million Earn-out Shares to cover tax obligations during the nine months ended September 30, 2022 . The following table sets forth a summary of the changes in the earn-out liabilities during the nine months ended September 30, 2022 (in thousands): Fair Value Measurements Using Significant Unobservable Inputs Balance at December 31, 2021 $ 377,576 Reallocation of Earn-out Shares to earn-out liability upon forfeitures 896 Change in fair value of earn-out liability (136,043) Issuance of Earn-out Shares upon triggering events (242,429) Balance at September 30, 2022 $ —

STOCK PLAN

STOCK PLAN	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK PLAN	STOCK PLAN 2021 Incentive Award Plan In connection with the Closing on July 22, 2021, the Company approved the 2021 Incentive Award Plan (the “2021 Plan”), an incentive compensation plan for the benefit of eligible employees, consultants, and directors of the Company and its subsidiaries. The Company concurrently assumed the Amended and Restated 2011 Stock Incentive Plan (the “2011 Plan”) and all outstanding awards thereunder, effective as of the Closing, and no further awards shall be granted under the 2011 Plan. The 2021 Plan provides that the initial aggregate number of shares of Class A common stock, available for issuance pursuant to awards thereunder shall be the sum of (a) 10% of the outstanding shares of Class A common stock as of the Closing, which is equivalent to 24.2 million shares of Class A common stock (the “Initial Plan Reserve”), (b) any shares of Class A common stock subject to outstanding equity awards under the 2011 Stock Plan which, following the effective date of the 2021 Plan, became available for issuance under the 2021 Plan and (c) an annual increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2031 equal to a number of shares equal to 5% of the aggregate number of shares of Class A common stock outstanding on the final day of the immediately preceding calendar year. The maximum aggregate number of shares of common stock that may be issued under the 2021 Plan upon the exercise of ISOs is 181.5 million shares of Class A common stock. Shares forfeited due to employee termination or expiration are returned to the share pool. Similarly, shares withheld upon exercise to provide for the exercise price and/or taxes due and shares repurchased by the Company are also returned to the pool. As of September 30, 2023, a total of 10.7 million shares remained available for future grant under the Company’s 2021 Plan. 2021 Employee Stock Purchase Plan In connection with the Closing on July 22, 2021, the Company approved the 2021 Employee Stock Purchase Plan (“2021 ESPP”). The 2021 ESPP provides that the aggregate number of shares of Class A common stock available for issuance pursuant to awards under the 2021 ESPP shall be the sum of (a) 3% of the number of outstanding shares of Class A common stock as of the Closing, which is equivalent to 7.3 million shares of Class A common stock (the “Initial ESPP Reserve”), and (b) an annual increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2031 equal to the lesser of (i) 1% of the aggregate number of shares of Class A common stock outstanding on the last day of the immediately preceding fiscal year and (ii) such smaller number of shares of common stock as may be determined by the Company’s board of directors; provided, however, that the number of shares of common stock that may be issued or transferred pursuant to the rights granted under the 2021 ESPP shall not exceed 15.25% of the outstanding shares of Class A common stock as of the Closing, which is equivalent to 36.9 million shares. Our 2021 ESPP permits eligible employees to acquire shares of our common stock at 85% of the lower of the fair market value of our common stock on the first trading day of each offering period or on the purchase date. If the fair market value of our common stock on the purchase date is lower than the first trading day of the offering period, the current offering period will be cancelled after purchase and a new 24-month offering period will begin. Participants may purchase shares of common stock through payroll deductions of up to 15% of their eligible compensation, subject to purchase limits of 3,000 shares per purchase period, 12,000 per offering period, and $25,000 worth of stock for each calendar year. The 2021 ESPP provides for consecutive offering periods that will typically have a duration of approximately 24 months in length, and is comprised of four purchase periods of approximately six months in length. The offering periods are scheduled to start on the first trading day on or after June 1 and December 1 of each year, except for the first offering period commenced on July 23, 2021 and ended on May 31, 2023. As of September 30, 2023, a total of 11.4 million shares of our common stock remained available for sale under our 2021 ESPP. For the three and nine months ended September 30, 2023, there were nil and 0.5 million, shares of common stock purchased under the 2021 ESPP. Stock Option Activities —The following table summarizes the stock option activities under the Company’s stock plans for nine months ended September 30, 2023 (in thousands, except for per share data): Options Outstanding Number of Weighted- Weighted- Average Remaining Contractual Term (Years) Aggregate Balance—December 31, 2022 33,417 $ 0.65 6.1 $ 71,842 Expired or canceled (409) 0.64 Exercised (3,615) 0.57 $ 8,358 Balance—September 30, 2023 29,393 $ 0.66 5.5 $ 44,394 Options vested and exercisable—September 30, 2023 28,166 $ 0.65 5.5 $ 42,887 As of September 30, 2023, unrecognized stock-based compensation expense related to unvested options was $0.4 million, which is expected to be amortized over a weighted-average vesting period of 0.8 years. RSU and PRSU Activities —The following table summarizes the RSU activity under the Company’s stock plans for the nine months ended September 30, 2023 (in thousands, except per share data): RSUs and PRSUs Number of Weighted- Balance—December 31, 2022 37,176 $ 10.47 Granted 10,069 2.92 Vested (10,552) 10.29 Canceled or forfeited (6,761) 6.09 Balance—September 30, 2023 29,932 $ 8.98 Stock-based compensation expense for awards with only service conditions are recognized on a straight-line basis over the requisite service period of the related award. The performance-based RSU (“PRSU”) awards have both service-based and performance-based vesting conditions. The service-based vesting condition for these awards is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied upon the occurrence of a liquidity event, as defined in the Amended and Restated 2011 Stock Plan. The performance based vesting condition was deemed satisfied upon the Closing. As of September 30, 2023, unrecognized compensation costs related to unvested RSUs and PRSUs were $239.4 million and $1.3 million, respectively. The remaining unrecognized compensation costs for RSUs and PRSUs are expected to be recognized over a weighted-average period of 2.1 years and 1.0 years, respectively, excluding additional stock-based compensation expense related to any future grants of share-based awards. Earn-out Award Activities As discussed in Note 11 “ Contingent Earn-Out Awards” , the pro rata Earn-out Shares issuable to holders of Legacy Matterport’s RSUs and holders of Legacy Matterport’s Stock Options for such holders with respect to such holders’ Legacy RSUs and Options were accounted as stock-based compensation expense as they were subject both a market condition and a service condition to the eligible employees. On January 18, 2022, all six Earn-out Triggering Events for issuing up to 23.5 million Earn-out Shares occurred. A total of 4.7 million pro rata Earn-out Shares issuable to holders of Matterport's eligible legacy RSU and options holders were immediately vested. The Company issued 2.7 million Earn-out Shares to Matterport's eligible legacy RSU and options holders after withholding 2.0 million of these Earn-out Shares to cover tax withholding obligations. The Company recognized all the remaining $27.6 million unamortized stock-based compensation related to the Earn-out Shares during the nine months ended September 30, 2022, as both the Triggering event condition was satisfied and the service condition was met. No further Earn-out Shares remained contingently issuable thereafter. Employee Stock Purchase Plan —The fair value of shares issued under our 2021 ESPP are estimated on the grant date using the Black-Scholes option pricing model. The following table summarizes the assumptions used to determine fair value of our 2021 ESPP: Nine Months Ended September 30, 2023 2022 Expected term 0.5 - 2.0 years 0.5 – 2.0 years Expected volatility 36.1 - 47.3% 34.4 – 47.4% Risk-free interest rate 0.6 - 5.4% 0.2 – 2.7% Expected dividend yield 0% 0% The expected volatility is based on the average volatility of a peer group of representative public companies with sufficient trading history over the expected term. The expected term represents the term from the first day of the offering period to the purchase dates within each offering period. The dividend yield assumption is based on our expectations about our anticipated dividend policy. The risk-free interest rate is based on the implied yield available on U.S. Treasury zero-coupon issues with maturities that approximate the expected term. As of September 30, 2023, unrecognized compensation cost related to the 2021 ESPP was $1.1 million, which is expected to be recognized over the remaining weighted-average service period of 1.2 years. Stock-based Compensation — The Company recognizes stock-based compensation expense for awards with only service conditions on a straight-line basis over the requisite service period of the related award and recognizes stock-based compensation expenses for awards with performance conditions on a straight-line basis over the requisite service period for each separate vesting portion of the awards when it is probable that the performance condition will be achieved. The stock-based compensation expenses of Earn-out Awards were recognized on a straight-line basis over the derived services period during which the market conditions are expected to be met. Forfeitures are accounted for in the period in which they occur. The amount of stock-based compensation related to stock-based awards to employees in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 782 $ 912 $ 2,468 $ 3,819 Research and development 5,731 6,362 20,984 27,246 Selling, general, and administrative 20,908 22,231 67,222 85,673 Stock-based compensation, net of amounts capitalized 27,421 29,505 90,674 116,738 Capitalized stock-based compensation 2,432 2,801 7,440 11,464 Total stock-based compensation $ 29,853 $ 32,306 $ 98,114 $ 128,202

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The income tax provision for inter im periods is determined using an estimate of the Company’s annual effective tax rate as adjusted for discrete items arising in that quarter.

NET LOSS PER SHARE ATTRIBUTABLE

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS	NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS Basic net loss per share attributable to common stockholders was computed by dividing net loss by the weighted-average number of common shares outstanding for the three and nine months ended September 30, 2023 and 2022 (in thousands, except for per share data). Diluted net loss per share gives effect to all potential shares of common stock, including common stock issuable upon conversion of our redeemable convertible preferred stock, stock options and RSUs to the extent these are dilutive. We calculated basic and diluted net loss per share attributable to common stockholders as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator : Net loss attributable to common stockholders $ (44,754) $ (58,259) $ (155,132) $ (50,989) Denominator: Weighted average shares used in computing net loss per share attributable to common stockholders, basic and diluted 303,432 286,458 298,226 281,729 Net loss per share attributable to common stockholders, basic and diluted $ (0.15) $ (0.20) $ (0.52) $ (0.18) Basic net loss per share is the same as diluted net loss per share for the period we reported a net loss. The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share attributable to common stockholders, basic and diluted, because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (shares in thousands): As of September 30, 2023 2022 Private warrants 1,708 1,708 Common stock options outstanding 29,393 34,546 Unvested RSUs 29,932 36,143 ESPP shares 1,734 1,849 Total potentially dilutive common stock equivalents 62,767 74,246

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING July 2023 Restructuring Plan In July 2023, the Company announced a restructuring plan (the "2023 Plan") intended to reduce operating costs and continue to accelerate its path to profitable growth. As part of the 2023 Plan, the Company commenced a workforce reduction of approximately 30%. The Company also recorded accelerated amortization costs to real estate operating lease right-of-use assets, which was primarily related to the cease use of certain leased office spaces to adjust our office space footprint to better align with the needs of our operation and the remote-work organizational structure. Restructuring charges during the three and nine months ended September 30, 2023 were as follows (in thousands): Severance and Other Personnel Costs Office Space Reductions (1) Total Cost of revenue - Subscription $ 5 $ — $ 5 Cost of revenue - Services 152 — 152 Cost of revenue - Product 151 — 151 Cost of revenue 308 — 308 Research and development 600 — 600 Selling, general, and administrative 2,116 123 2,239 Total restructuring charge $ 3,024 $ 123 $ 3,147 (1) Office space reductions primarily represent the accelerated amortization expense related to operating lease right-of-use assets. We expect that the execution of the 2023 Plan will be substantially complete by the end of the fourth quarter of fiscal 2023, subject to local law and consultation requirements. The Company currently estimates the charges of approximately $4.0 million in connection with the 2023 Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, exit charges associated with office space reductions, and related costs. As of September 30, 2023, there were $0.2 million restructuring-related liabilities were recorded in accrued expenses and other current liabilities, primarily related to the unpaid severance costs.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (44,754)	$ (56,536)	$ (53,842)	$ (58,259)	$ (64,634)	$ 71,904	$ (155,132)	$ (50,989)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
J.D. Fay [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On August 11, 2023, J.D. Fay, the Company’s Chief Financial Officer, entered into a Rule 10b5-1 trading plan with a termination date of October 31, 2024, covering a maximum of 900,000 shares of the Company’s Class A common stock to be sold at various designated prices during the duration of the plan.
Name	J.D. Fay
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 11, 2023
Arrangement Duration	447 days
Aggregate Available	900,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the SEC, regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or o mitted pursuant to such rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company’s 2022 Form 10-K for the fiscal year ended December 31, 2022, which provides a more complete discussion of the Company’s accounting policies and certain other information. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2023, and its results of operations for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022. The condensed consolidated balance sheet as of December 31, 2022, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements.
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures in the condensed consolidated financial statements and accompanying notes. Significant estimates include assumptions related to the fair value of common stock before the Merger and other assumptions used to measure stock-based compensation, fair value of assets acquired and liabilities assumed in business combinations, fair value of identified intangibles, goodwill impairment, valuation of deferred tax assets, the estimate of net realizable value of inventory, allowance for doubtful accounts, the fair value of warrants liability, loss contingencies, and the determination of stand-alone selling price of various performance obligations. As a result, many of the Company’s estimates and assumptions required increased judgment and these estimates may change materially in future periods. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and various other factors, including the current economic environment, which management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company adjusts such estimates and assumptions when dictated by facts and circumstances. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the c ondensed consolidated financial statements in future periods. Actual results may differ materially from those estimates.
Segment Information	Segment Information The Company has a single operating segment and reportable segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. Refer to Note 3 for information regarding the Company’s revenue by geography. Substantially all of the Company’s long-lived assets are located in the United States.
Concentration of Credit Risk and Other Risks and Uncertainties	Concentration of Credit Risk and Other Risks and Uncertainties Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, investments, and accounts receivable. The Company maintains its cash balances in accounts held by major banks and financial institutions located in the United States. Such bank deposits from time to time may be exposed to credit risk in excess of the Federal Deposit Insurance Corporation insurance limit, and the Company considers such risk to be minimal. We invest only in high-quality credit instruments and maintain our cash and cash equivalents and available-for-sale investments in fixed income securities. Management believes that the financial institutions that hold our investments are financially sound and, accordingly, are subject to minimal credit risk. Deposits held with banks may exceed the amount of insurance provided on such deposits. The Company’s accounts receivable is derived from customers located both inside and outside the United States. The Company mitigates its credit risks by performing ongoing credit evaluations of the financial condition of its customers and requires advance payment from customers in certain circumstances. The Company generally does not require collateral from its customers. No customer accounted for more than 10% of the Company’s total accounts receivable at September 30, 2023 and December 31, 2022. No customer accounted for more than 10% of the Company’s total revenue for the three and nine months ended September 30, 2023 and 2022.
Restructuring Costs	Restructuring Costs The Company’s restructuring costs consist of a one-time payment of termination benefits and the ongoing cost of benefits related to the reduction of its workforce and other costs, and the charges related to the cease use of certain facilit ies to align with the Company’s anticipated operating needs. The timing of recognition for severance costs depends on whether employees are required to render service until they are terminated in order to receive the termination benefits. If employees are required to render service until they are terminated in order to receive the termination benefits, a liability is recognized ratably over the future service period. Otherwise, a liability is recognized when management has committed to a restructuring plan and has communicated those actions to employees. Employee termination benefit costs covered by existing benefit arrangements are recognized when management has committed to a restructuring plan and has determined the severance costs are probable and estimable. Other costs primarily consist of cease use charges for the related operating lease right-of-use assets for office leases, which are recognized ratably from the decision date to the cease-use date.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ASU 2021-08 requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contract with Customers, as if it had originated the contracts. The Company adopted this standard effective January 1, 2023, which did not have a material impact on the Company’s condensed consolidated financial statements.

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table shows the revenue by geography for the three and nine months ended September 30, 2023 and 2022, respectively (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue: United States $ 26,667 $ 25,310 $ 76,130 $ 58,187 International 13,975 12,683 42,073 36,797 Total revenue $ 40,642 $ 37,993 $ 118,203 $ 94,984 The following table shows over time versus point-in-time revenue for the three and nine months ended September 30, 2023 and 2022, respectively (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Over time revenue $ 32,786 $ 28,996 $ 92,889 $ 73,509 Point-in-time revenue 7,856 8,997 25,314 21,475 Total $ 40,642 $ 37,993 $ 118,203 $ 94,984
Summary of Account Receivable and Contract Balances	The accounts receivable and contract balances as of September 30, 2023 and December 31, 2022 were as follows (in thousands): September 30, December 31, Accounts receivable, net $ 15,351 $ 19,037 Unbilled accounts receivable $ 1,854 $ 1,807 Deferred revenue $ 24,459 $ 17,932

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Business Acquisition [Line Items]
Schedule of Unaudited Pro Forma Financial Information	The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal year 2021. Three Months Ended September 30, Nine Months Ended September 30, 2022 2022 (in thousands, except per share data) Total revenue $ 38,345 $ 105,432 Net loss $ (58,118) $ (50,103) Basic earnings per share $ (0.20) $ (0.18) Diluted earnings per share $ (0.20) $ (0.18)
VHT Inc
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The Company has accounted for the VHT Acquisition as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on the estimated fair values at the VHT Acquisition Date, as presented in the following table (in thousands): Amount Goodwill $ 15,603 Identified intangible assets 6,900 Net assets acquired 215 Total $ 22,718
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table summarizes the preliminary estimated fair values and estimated useful lives of the components of identifiable intangible assets acquired as of the VHT Acquisition Date (in thousands, except years): Fair Value Estimated Useful Life Customer Relationships $ 6,900 10 years
Enview Inc
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The total purchase consideration for the Enview Acquisition was $64.3 million, including an insignificant working capital adjustment finalized during the measurement period that reduced the purchase price for Enview. The total purchase consideration consisted of the following (in thousands): Amount Cash (1) $ 39,336 Common stock (1.6 million shares) (2) 24,988 Total $ 64,324 (1) The Company paid $2.4 million and $4.3 million in cash consideration during the three and nine months ended September 30, 2023, respectively and nil and $35.0 million in cash consideration during the three and nine months ended September 30, 2022.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table summarizes the estimated fair values and estimated useful lives of the components of identifiable intangible assets acquired as of the Enview Acquisition Date (in thousands, except years): Fair Value Estimated Useful Life Developed technology $ 5,400 5 years
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the allocation of purchase consideration on the Enview Acquisition Date, inclusive of measurement period adjustments (in thousands): Amount Goodwill $ 53,990 Identified intangible assets 5,400 Net assets acquired 4,934 Total $ 64,324

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Purchased Intangible Assets	The following table presents details of the Company’s purchased intangible assets as of September 30, 2023 and December 31, 2022 (in thousands). September 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Developed technology $ 5,400 $ (1,876) $ 3,524 $ 5,400 $ (1,065) $ 4,335 Customer relationships 6,900 (862) 6,038 6,900 (345) 6,555 Total $ 12,300 $ (2,738) $ 9,562 $ 12,300 $ (1,410) $ 10,890
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table summarizes estimated future amortization expense for the Company’s intangible assets as of September 30, 2023 (in thousands): Amount Remaining 2023 $ 442 2024 1,770 2025 1,770 2026 1,770 2027 705 2028 and thereafter 3,105 Total future amortization expense $ 9,562

BALANCE SHEET COMPONENTS (Table

BALANCE SHEET COMPONENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract]
Summary of Allowance for Doubtful Accounts	Allowance for doubtful accounts as of September 30, 2023 and 2022 and the rollforward for three and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Balance—beginning of period $ (933) $ (421) $ (1,212) $ (291) Increase in reserves (101) (148) (150) (343) Write-offs 137 — 465 65 Balance—end of period $ (897) $ (569) $ (897) $ (569)
Summary of Inventories	Inventories as of September 30, 2023 and December 31, 2022, consisted of the following (in thousands): September 30, December 31, Finished goods $ 1,136 $ 2,112 Work in process 7,094 3,477 Purchased parts and raw materials 4,112 5,472 Total inventories $ 12,342 $ 11,061
Schedule of Property Plant and Equipment	Property and equipment as of September 30, 2023 and December 31, 2022, consisted of the following (in thousands): September 30, December 31, Machinery and equipment $ 4,060 $ 3,948 Furniture and fixtures 355 355 Leasehold improvements 718 734 Capitalized software and development costs 70,630 55,662 Total property and equipment 75,763 60,699 Accumulated depreciation and amortization (42,942) (30,140) Total property and equipment, net $ 32,821 $ 30,559
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities as of September 30, 2023 and December 31, 2022, consisted of the following (in thousands): September 30, December 31, Accrued compensation $ 5,002 $ 5,609 Tax payable 1,203 1,669 ESPP contribution 871 341 Current unpaid acquisition consideration — 6,109 Short-term operating lease liabilities 1,293 1,267 Accrued loss on firm inventory purchase commitments 31 3,991 Other current liabilities 6,944 4,930 Total accrued expenses and other current liabilities $ 15,344 $ 23,916

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis	The Company’s financial assets and liabilities that were measured at fair value on a recurring basis were as follows (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 60,730 $ — $ — $ 60,730 Total cash equivalents $ 60,730 $ — $ — $ 60,730 Short-term investments: U.S. government and agency securities $ 238,503 $ — $ — $ 238,503 Non-U.S. government and agency securities — 19,681 — 19,681 Corporate debt securities — 41,757 — 41,757 Commercial paper — 27,741 — 27,741 Total short-term investments $ 238,503 $ 89,179 $ — $ 327,682 Long-term investments: U.S. government and agency securities $ 21,881 $ — $ — $ 21,881 Total long-term investments $ 21,881 $ — $ — $ 21,881 Total assets measured at fair value $ 321,114 $ 89,179 $ — $ 410,293 Financial Liabilities: Private warrants liability $ — $ — $ 239 $ 239 Total liabilities measured at fair value $ — $ — $ 239 $ 239 December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets: Cash equivalents: Money market funds $ 51,557 $ — $ — $ 51,557 Total cash equivalents $ 51,557 $ — $ — $ 51,557 Short-term investments: U.S. government and agency securities $ 181,714 $ — $ — $ 181,714 Non-U.S. government and agency securities — 24,946 — 24,946 Corporate debt securities — 114,113 — 114,113 Commercial paper — 35,042 — 35,042 Total short-term investments $ 181,714 $ 174,101 $ — $ 355,815 Long-term investments: Corporate debt securities $ — $ 3,959 $ — $ 3,959 Total long-term investments $ — $ 3,959 $ — $ 3,959 Total assets measured at fair value $ 233,271 $ 178,060 $ — $ 411,331 Financial Liabilities: Private warrants liability $ — $ — $ 803 $ 803 Total liabilities measured at fair value $ — $ — $ 803 $ 803
Schedule of Amortized Cost, Unrealized Gains and Losses, and Fair Value of AFS Debt Securities	The following tables summarize the amortized cost, unrealized gains and losses, and fair value of our available-for-sale debt securities as of September 30, 2023 and December 31, 2022 (in thousands): September 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Investments: U.S. government and agency securities $ 260,661 $ — $ (277) $ 260,384 Non-U.S. government and agency securities 19,741 — (60) 19,681 Corporate debt securities 41,934 — (177) 41,757 Commercial paper 27,774 — (33) 27,741 Total available-for-sale investments $ 350,110 $ — $ (547) $ 349,563 December 31, 2022 Amortized Cost Unrealized Gains Unrealized Losses Fair Value Investments: U.S. government and agency securities $ 185,371 $ — $ (3,657) $ 181,714 Non-U.S. government and agency securities 24,989 — (44) 24,945 Corporate debt securities 119,396 — (1,324) 118,072 Commercial paper 35,052 — (9) 35,043 Total available-for-sale investments $ 364,808 $ — $ (5,034) $ 359,774
Summary of Amortized Cost and Fair Value of AFS Securities by Contractual Maturity Date	The following table summarizes the amortized cost and fair value of our available-for-sale debt securities as of September 30, 2023, by contractual years-to-maturity (in thousands): September 30, 2023 Amortized Cost Fair Value Due within one year $ 328,208 $ 327,682 Due between one and three years 21,902 21,881 Total $ 350,110 $ 349,563

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Future Minimum Operating Lease Payments and Purchase Obligations	As of September 30, 2023, future minimum purchase obligations are as follows (in thousands): Purchase Remainder of 2023 $ 6,337 2024 9,125 2025 185 Thereafter — Total $ 15,647

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Summary of Common Stock Reserved for Future Issuance	The Company had reserved shares of common stock for future issuance as of September 30, 2023 as follows (in thousands): September 30, Private warrants to purchase common stock 1,708 Common stock options outstanding and unvested RSUs under the Amended and Restated 2011 Stock Incentive Plan 59,325 Shares available for future grant under 2021 Employee Stock Purchase Plan 11,378 Shares available for future grant under 2021 Incentive Award Plan 10,676 Total shares of common stock reserved 83,087
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated other comprehensive loss by component, net of tax (in thousands) : Foreign Currency Translation, Net of Tax Unrealized Gains/Losses on Available-for-Sale Debt Securities, Net of Tax Total Balance at December 31, 2022 $ (52) $ (4,982) $ (5,034) Net unrealized gain — 4,435 4,435 Balance at September 30, 2023 $ (52) $ (547) $ (599) Foreign Currency Translation, Net of Tax Unrealized Losses on Available-for-Sale Debt Securities, Net of Tax Total Balance at December 31, 2021 $ (52) $ (1,487) $ (1,539) Net unrealized loss — (6,039) (6,039) Balance at September 30, 2022 $ (52) $ (7,526) $ (7,578)

PUBLIC AND PRIVATE WARRANTS (Ta

PUBLIC AND PRIVATE WARRANTS (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule Valuation Assumptions to Fair Value of Private Warrants	The following table provides the assumptions used to estimate the fair value of the Private Warrants as of September 30, 2023: September 30, 2023 Current stock price $ 2.17 Strike price $ 11.50 Expected term (in years) 2.81 Expected volatility 62.0% Risk-free interest rate 4.7% Expected dividend yield —%
Schedule of Warrants Measured at Fair Value	The following table presents the changes in the warrants liability as of September 30, 2023 (in thousands): Total Warrants Liability Fair value at December 31, 2022 $ 803 Change in fair value (564) Fair value at September 30, 2023 $ 239

CONTINGENT EARN-OUT AWARDS (Tab

CONTINGENT EARN-OUT AWARDS (Tables)	9 Months Ended
	Sep. 30, 2023
Reverse Recapitalization [Abstract]
Changes in Estimated Fair Value of the Company's Level 3 Financial Liabilities	The following table sets forth a summary of the changes in the earn-out liabilities during the nine months ended September 30, 2022 (in thousands): Fair Value Measurements Using Significant Unobservable Inputs Balance at December 31, 2021 $ 377,576 Reallocation of Earn-out Shares to earn-out liability upon forfeitures 896 Change in fair value of earn-out liability (136,043) Issuance of Earn-out Shares upon triggering events (242,429) Balance at September 30, 2022 $ —

STOCK PLAN (Tables)

STOCK PLAN (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes the stock option activities under the Company’s stock plans for nine months ended September 30, 2023 (in thousands, except for per share data): Options Outstanding Number of Weighted- Weighted- Average Remaining Contractual Term (Years) Aggregate Balance—December 31, 2022 33,417 $ 0.65 6.1 $ 71,842 Expired or canceled (409) 0.64 Exercised (3,615) 0.57 $ 8,358 Balance—September 30, 2023 29,393 $ 0.66 5.5 $ 44,394 Options vested and exercisable—September 30, 2023 28,166 $ 0.65 5.5 $ 42,887
Schedule of RSU and PRSU Activity	The following table summarizes the RSU activity under the Company’s stock plans for the nine months ended September 30, 2023 (in thousands, except per share data): RSUs and PRSUs Number of Weighted- Balance—December 31, 2022 37,176 $ 10.47 Granted 10,069 2.92 Vested (10,552) 10.29 Canceled or forfeited (6,761) 6.09 Balance—September 30, 2023 29,932 $ 8.98
Employee Stock Option Valuation	The following table summarizes the assumptions used to determine fair value of our 2021 ESPP: Nine Months Ended September 30, 2023 2022 Expected term 0.5 - 2.0 years 0.5 – 2.0 years Expected volatility 36.1 - 47.3% 34.4 – 47.4% Risk-free interest rate 0.6 - 5.4% 0.2 – 2.7% Expected dividend yield 0% 0%
Stock-based Compensation Arrangement	The amount of stock-based compensation related to stock-based awards to employees in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2023 and 2022 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Cost of revenue $ 782 $ 912 $ 2,468 $ 3,819 Research and development 5,731 6,362 20,984 27,246 Selling, general, and administrative 20,908 22,231 67,222 85,673 Stock-based compensation, net of amounts capitalized 27,421 29,505 90,674 116,738 Capitalized stock-based compensation 2,432 2,801 7,440 11,464 Total stock-based compensation $ 29,853 $ 32,306 $ 98,114 $ 128,202

NET LOSS PER SHARE ATTRIBUTAB_2

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Net Income (Loss) Attributable to Common Stockholders, Basic and Diluted	Basic net loss per share attributable to common stockholders was computed by dividing net loss by the weighted-average number of common shares outstanding for the three and nine months ended September 30, 2023 and 2022 (in thousands, except for per share data). Diluted net loss per share gives effect to all potential shares of common stock, including common stock issuable upon conversion of our redeemable convertible preferred stock, stock options and RSUs to the extent these are dilutive. We calculated basic and diluted net loss per share attributable to common stockholders as follows (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator : Net loss attributable to common stockholders $ (44,754) $ (58,259) $ (155,132) $ (50,989) Denominator: Weighted average shares used in computing net loss per share attributable to common stockholders, basic and diluted 303,432 286,458 298,226 281,729 Net loss per share attributable to common stockholders, basic and diluted $ (0.15) $ (0.20) $ (0.52) $ (0.18)
Summary of Potentially Dilutive Securities Excluded from the Computation of Diluted Net Loss Per Share Attributable to Common Stockholders	The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share attributable to common stockholders, basic and diluted, because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (shares in thousands): As of September 30, 2023 2022 Private warrants 1,708 1,708 Common stock options outstanding 29,393 34,546 Unvested RSUs 29,932 36,143 ESPP shares 1,734 1,849 Total potentially dilutive common stock equivalents 62,767 74,246

Restructuring and Related Activ

Restructuring and Related Activities (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring Charges and Related Activities	Restructuring charges during the three and nine months ended September 30, 2023 were as follows (in thousands): Severance and Other Personnel Costs Office Space Reductions (1) Total Cost of revenue - Subscription $ 5 $ — $ 5 Cost of revenue - Services 152 — 152 Cost of revenue - Product 151 — 151 Cost of revenue 308 — 308 Research and development 600 — 600 Selling, general, and administrative 2,116 123 2,239 Total restructuring charge $ 3,024 $ 123 $ 3,147 (1) Office space reductions primarily represent the accelerated amortization expense related to operating lease right-of-use assets.

REVENUE - Disaggregated Revenue

REVENUE - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 40,642	$ 37,993	$ 118,203	$ 94,984
Over time revenue
Disaggregation of Revenue [Line Items]
Total revenue	32,786	28,996	92,889	73,509
Point-in-time revenue
Disaggregation of Revenue [Line Items]
Total revenue	7,856	8,997	25,314	21,475
United States
Disaggregation of Revenue [Line Items]
Total revenue	26,667	25,310	76,130	58,187
International
Disaggregation of Revenue [Line Items]
Total revenue	$ 13,975	$ 12,683	$ 42,073	$ 36,797

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 15,351	$ 19,037
Unbilled accounts receivable	1,854	1,807
Deferred revenue	$ 24,459	$ 17,932

REVENUE - Additional Informatio

REVENUE - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue recognized	$ 13.3	$ 8.6

REVENUE - Remaining Performance

REVENUE - Remaining Performance Obligation (Details) $ in Millions	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contracted but unsatisfied performance obligations	$ 62
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contracted but unsatisfied performance obligations	$ 41.7
Contracted but unsatisfied performance obligations, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contracted but unsatisfied performance obligations, period

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands			21 Months Ended
	Jun. 10, 2022	Jan. 05, 2022	Sep. 30, 2023
VHT Inc
Business Acquisition [Line Items]
Purchase agreement, all cash purchase price	$ 23,000
Total	$ 22,700
Enview Inc
Business Acquisition [Line Items]
Total		$ 64,300	$ 64,324

ACQUISITIONS - Schedule of Reco

ACQUISITIONS - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jun. 10, 2022	Jan. 05, 2022
Business Acquisition [Line Items]
Goodwill	$ 69,593	$ 69,593
VHT Inc
Business Acquisition [Line Items]
Goodwill			$ 15,603
Identified intangible assets			6,900
Net assets acquired			215
Total			$ 22,718
Enview Inc
Business Acquisition [Line Items]
Goodwill				$ 53,990
Identified intangible assets				5,400
Net assets acquired				4,934
Total				$ 64,324

ACQUISITIONS - Schedule of Fini

ACQUISITIONS - Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination (Details) - USD ($) $ in Thousands	Jun. 10, 2022	Jan. 05, 2022
Customer relationships | VHT Inc
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 6,900
Weighted Average Life (in years)	10 years
Developed technology | Enview Inc
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 5,400
Weighted Average Life (in years)		5 years

ACQUISITIONS - Schedule of Unau

ACQUISITIONS - Schedule of Unaudited Pro Forma Financial Information (Details) - VHT Inc - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Total revenue	$ 38,345	$ 105,432
Net loss	$ (58,118)	$ (50,103)
Basic earnings per share ($ per share)	$ (0.20)	$ (0.18)
Diluted earnings per share ($ per share)	$ (0.20)	$ (0.18)

ACQUISITIONS - Schedule of Busi

ACQUISITIONS - Schedule of Business Acquisitions, by Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended		21 Months Ended
	Jan. 05, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023
Business Acquisition [Line Items]
Common stock (1.2 million shares)				$ 5,748	$ 19,219
Common Stock
Business Acquisition [Line Items]
Stock Issued during period (shares)	1,600,000
Enview Inc
Business Acquisition [Line Items]
Cash		$ 2,400	$ 0	$ 4,300	$ 35,000	$ 39,336
Total	$ 64,300					64,324
Stock Issued during period (shares)		100,000	0	400,000	1,200,000
Closing stock price ($ per share)	$ 15.73
Enview Inc | Common Stock
Business Acquisition [Line Items]
Common stock (1.2 million shares)						$ 24,988

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Transaction costs	$ 0	$ 200,000	$ 0	$ 1,600,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 69,593,000		$ 69,593,000		$ 69,593,000
Impairment loss	0	$ 0	0	$ 0
Amortization of expense	400,000	500,000	1,300,000	1,000,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 0	$ 0	$ 0	$ 0

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 12,300	$ 12,300
Accumulated Amortization	(2,738)	(1,410)
Total future amortization expense	9,562	10,890
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,400	5,400
Accumulated Amortization	(1,876)	(1,065)
Total future amortization expense	3,524	4,335
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,900	6,900
Accumulated Amortization	(862)	(345)
Total future amortization expense	$ 6,038	$ 6,555

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2023	$ 442
2024	1,770
2025	1,770
2026	1,770
2027	705
2028 and thereafter	3,105
Total future amortization expense	$ 9,562	$ 10,890

BALANCE SHEET COMPONENTS - Allo

BALANCE SHEET COMPONENTS - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance—beginning of period	$ (933)	$ (421)	$ (1,212)	$ (291)
Increase in reserves	(101)	(148)	(150)	(343)
Write-offs	137	0	465	65
Balance—end of period	$ (897)	$ (569)	$ (897)	$ (569)

BALANCE SHEET COMPONENTS - Inve

BALANCE SHEET COMPONENTS - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Finished goods	$ 1,136	$ 2,112
Work in process	7,094	3,477
Purchased parts and raw materials	4,112	5,472
Total inventories	$ 12,342	$ 11,061

BALANCE SHEET COMPONENTS - Prop

BALANCE SHEET COMPONENTS - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 75,763		$ 75,763		$ 60,699
Accumulated depreciation and amortization	(42,942)		(42,942)		(30,140)
Total property and equipment, net	32,821		32,821		30,559
Depreciation and amortization			14,130	$ 9,237
Capitalized computer software additions	4,700	$ 5,700	15,000	21,400
Capitalized computer software amortization	4,400	3,000	12,200	7,800
Cost of revenue
Property, Plant and Equipment [Line Items]
Capitalized computer software amortization	4,000	2,800	11,200	7,000
Selling, general, and administrative
Property, Plant and Equipment [Line Items]
Capitalized computer software amortization	400	200	1,000	800
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	4,060		4,060		3,948
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	355		355		355
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	718		718		734
Capitalized software and development costs
Property, Plant and Equipment [Line Items]
Total property and equipment	70,630		70,630		$ 55,662
Property and Equipment
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 4,600	$ 3,300	$ 12,800	$ 8,300

BALANCE SHEET COMPONENTS - Accr

BALANCE SHEET COMPONENTS - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Accrued compensation	$ 5,002	$ 5,609
Tax payable	1,203	1,669
ESPP contribution	871	341
Current unpaid acquisition consideration	0	6,109
Short-term operating lease liabilities	1,293	1,267
Accrued loss on firm inventory purchase commitments	31	3,991
Other current liabilities	6,944	4,930
Total accrued expenses and other current liabilities	$ 15,344	$ 23,916

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Short-term investments:
Short-term investments	$ 327,682	$ 355,815
Financial Liabilities:
Warrants liability	239	803
Private warrants liability
Financial Liabilities:
Warrants liability	239	803
Fair Value, Recurring
Cash equivalents:
Cash equivalents, fair value	60,730	51,557
Short-term investments:
Short-term investments	327,682	355,815
Long-term investments:
Long-term investments	21,881	3,959
Total assets measured at fair value	410,293	411,331
Financial Liabilities:
Total liabilities measured at fair value	239	803
Fair Value, Recurring | Private warrants liability
Financial Liabilities:
Warrants liability	239	803
Fair Value, Recurring | U.S. government and agency securities
Short-term investments:
Short-term investments	238,503	181,714
Long-term investments:
Long-term investments	21,881
Fair Value, Recurring | Non-U.S. government and agency securities
Short-term investments:
Short-term investments	19,681	24,946
Fair Value, Recurring | Corporate debt securities
Short-term investments:
Short-term investments	41,757	114,113
Long-term investments:
Long-term investments		3,959
Fair Value, Recurring | Commercial paper
Short-term investments:
Short-term investments	27,741	35,042
Fair Value, Recurring | Money market funds
Cash equivalents:
Cash equivalents, fair value	60,730	51,557
Level 1 | Fair Value, Recurring
Cash equivalents:
Cash equivalents, fair value	60,730	51,557
Short-term investments:
Short-term investments	238,503	181,714
Long-term investments:
Long-term investments	21,881	0
Total assets measured at fair value	321,114	233,271
Financial Liabilities:
Total liabilities measured at fair value	0	0
Level 1 | Fair Value, Recurring | Private warrants liability
Financial Liabilities:
Warrants liability	0	0
Level 1 | Fair Value, Recurring | U.S. government and agency securities
Short-term investments:
Short-term investments	238,503	181,714
Long-term investments:
Long-term investments	21,881
Level 1 | Fair Value, Recurring | Non-U.S. government and agency securities
Short-term investments:
Short-term investments	0	0
Level 1 | Fair Value, Recurring | Corporate debt securities
Short-term investments:
Short-term investments	0	0
Long-term investments:
Long-term investments		0
Level 1 | Fair Value, Recurring | Commercial paper
Short-term investments:
Short-term investments	0	0
Level 1 | Fair Value, Recurring | Money market funds
Cash equivalents:
Cash equivalents, fair value	60,730	51,557
Level 2 | Fair Value, Recurring
Cash equivalents:
Cash equivalents, fair value	0	0
Short-term investments:
Short-term investments	89,179	174,101
Long-term investments:
Long-term investments	0	3,959
Total assets measured at fair value	89,179	178,060
Financial Liabilities:
Total liabilities measured at fair value	0	0
Level 2 | Fair Value, Recurring | Private warrants liability
Financial Liabilities:
Warrants liability	0	0
Level 2 | Fair Value, Recurring | U.S. government and agency securities
Short-term investments:
Short-term investments	0	0
Long-term investments:
Long-term investments	0
Level 2 | Fair Value, Recurring | Non-U.S. government and agency securities
Short-term investments:
Short-term investments	19,681	24,946
Level 2 | Fair Value, Recurring | Corporate debt securities
Short-term investments:
Short-term investments	41,757	114,113
Long-term investments:
Long-term investments		3,959
Level 2 | Fair Value, Recurring | Commercial paper
Short-term investments:
Short-term investments	27,741	35,042
Level 2 | Fair Value, Recurring | Money market funds
Cash equivalents:
Cash equivalents, fair value	0	0
Level 3 | Fair Value, Recurring
Cash equivalents:
Cash equivalents, fair value	0	0
Short-term investments:
Short-term investments	0	0
Long-term investments:
Long-term investments	0	0
Total assets measured at fair value	0	0
Financial Liabilities:
Total liabilities measured at fair value	239	803
Level 3 | Fair Value, Recurring | Private warrants liability
Financial Liabilities:
Warrants liability	239	803
Level 3 | Fair Value, Recurring | U.S. government and agency securities
Short-term investments:
Short-term investments	0	0
Long-term investments:
Long-term investments	0
Level 3 | Fair Value, Recurring | Non-U.S. government and agency securities
Short-term investments:
Short-term investments	0	0
Level 3 | Fair Value, Recurring | Corporate debt securities
Short-term investments:
Short-term investments	0	0
Long-term investments:
Long-term investments		0
Level 3 | Fair Value, Recurring | Commercial paper
Short-term investments:
Short-term investments	0	0
Level 3 | Fair Value, Recurring | Money market funds
Cash equivalents:
Cash equivalents, fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Amort

FAIR VALUE MEASUREMENTS - Amortized Cost, Unrealized Gains and Losses, and FV of AFS Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investments:
Total available-for-sale investments	$ 350,110	$ 364,808
Available-for-sale investments, unrealized gains	0	0
Available-for-sale investments, unrealized losses	(547)	(5,034)
Available-for-sale, fair value	349,563	359,774
U.S. government and agency securities
Investments:
Total available-for-sale investments	260,661	185,371
Available-for-sale investments, unrealized gains	0	0
Available-for-sale investments, unrealized losses	(277)	(3,657)
Available-for-sale, fair value	260,384	181,714
Non-U.S. government and agency securities
Investments:
Total available-for-sale investments	19,741	24,989
Available-for-sale investments, unrealized gains	0	0
Available-for-sale investments, unrealized losses	(60)	(44)
Available-for-sale, fair value	19,681	24,945
Corporate debt securities
Investments:
Total available-for-sale investments	41,934	119,396
Available-for-sale investments, unrealized gains	0	0
Available-for-sale investments, unrealized losses	(177)	(1,324)
Available-for-sale, fair value	41,757	118,072
Commercial paper
Investments:
Total available-for-sale investments	27,774	35,052
Available-for-sale investments, unrealized gains	0	0
Available-for-sale investments, unrealized losses	(33)	(9)
Available-for-sale, fair value	$ 27,741	$ 35,043

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS, Less than 12 months, gross unrealized losses	$ 500,000	$ 200,000
AFS, in continuous unrealized loss position, less than 12 months	341,600,000	49,400,000
Unrealized loss position for more than 12 months		4,800,000
AFS, in continuous unrealized loss position, 12 months or longer		$ 291,000,000
Debt securities, allowance for credit loss	$ 0		$ 0

FAIR VALUE MEASUREMENTS - Amo_2

FAIR VALUE MEASUREMENTS - Amortized Cost and Fair Value by Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Due within one year	$ 328,208
Due between one and three years	21,902
Total available-for-sale investments	350,110	$ 364,808
Fair value, due within one year	327,682
Fair value, due between one and three years	21,881
Total available-for-sale investments	$ 349,563	$ 359,774

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Future Minimum Operating Lease Payments and Purchase Obligations (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Purchase Obligations
Remainder of 2023	$ 6,337
2024	9,125
2025	185
Thereafter	0
Total	$ 15,647

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Details)	May 16, 2022 patent	May 11, 2020 patent	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Jul. 20, 2021 $ / shares shares	Jul. 19, 2021 shares
Loss Contingencies [Line Items]
Common stock, par value ($ per share) | $ / shares			$ 0.0001	$ 0.0001
Common stock, authorized (shares) | shares			640,000,000	640,000,000
Number of alleged patent infringements		4
Patents found not infringed	4
Additional patent found not infringed	1
Estimated litigation liability | $			$ 0	$ 0
Class A Common Stock
Loss Contingencies [Line Items]
Common stock, par value ($ per share) | $ / shares					$ 0.0001
Common stock, authorized (shares) | shares					600,000,000	400,000,000

STOCKHOLDERS_ EQUITY - Shares R

STOCKHOLDERS’ EQUITY - Shares Reserved for Future Issuance (Details)	Sep. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved	83,087,000
Private warrants to purchase common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved	1,708,000
Common stock options outstanding and unvested RSUs under the Amended and Restated 2011 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved	59,325,000
Shares available for future grant under 2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved	11,378,000
Shares available for future grant under 2021 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of common stock reserved	10,676,000

STOCKHOLDERS_ EQUITY - Accumula

STOCKHOLDERS’ EQUITY - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 583,911	$ 268,163
Net unrealized gain	4,435	(6,039)
Ending balance	540,056	605,827
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5,034)	(1,539)
Ending balance	(599)	(7,578)
Foreign Currency Translation, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(52)	(52)
Net unrealized gain	0	0
Ending balance	(52)	(52)
Unrealized Gains/Losses on Available-for-Sale Debt Securities, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4,982)	(1,487)
Net unrealized gain	4,435	(6,039)
Ending balance	$ (547)	$ (7,526)

PUBLIC AND PRIVATE WARRANTS (De

PUBLIC AND PRIVATE WARRANTS (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Jan. 31, 2022	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jan. 14, 2022	Jul. 21, 2021
Class of Warrant or Right [Line Items]
Number of shares purchasable with each warrant (shares)							1
Warrant, exercise price ($ per share)						$ 11.50	$ 11.50
Warrants, contractual life							5 years
Shares issued upon exercise of warrants (shares)	2,000,000					9,100,000
Redemption price per warrant ($ dollar per warrant)						$ 0.01
Proceeds from exercise of warrants	$ 27,800		$ 0	$ 27,844
Warrant exercised		$ 0	$ 0
Public And Private Warrants
Class of Warrant or Right [Line Items]
Shares issued upon exercise of warrants (shares)						7,100,000
Proceeds from exercise of warrants					$ 76,600
Warrants, redemption date fair value ($ per share)						$ 2
Public warants
Class of Warrant or Right [Line Items]
Warrants issued (shares)							6,900,000
Shares issued upon exercise of warrants (shares)	2,000,000					6,400,000
Warrants and rights unexercised and outstanding						$ 600
Private warrants
Class of Warrant or Right [Line Items]
Warrants issued (shares)		1,700,000	1,700,000		1,700,000		4,450,000
Shares issued upon exercise of warrants (shares)						2,700,000
Proceeds from exercise of warrants					$ 104,400
Warrants, fair value ($ per share)		$ 0.14	$ 0.14

PUBLIC AND PRIVATE WARRANTS - V

PUBLIC AND PRIVATE WARRANTS - Valuation Assumptions to Fair Value of Private Warrants (Details) - Private warrants	9 Months Ended
	Sep. 30, 2023 $ / shares
Current stock price
Class of Warrant or Right [Line Items]
Derivative liability, measurement input	2.17
Strike price
Class of Warrant or Right [Line Items]
Derivative liability, measurement input	11.50
Expected term (in years)
Class of Warrant or Right [Line Items]
Derivative liability, measurement input, term	2 years 9 months 21 days
Expected volatility
Class of Warrant or Right [Line Items]
Derivative liability, measurement input	0.620
Risk-free interest rate
Class of Warrant or Right [Line Items]
Derivative liability, measurement input	0.047
Expected dividend yield
Class of Warrant or Right [Line Items]
Derivative liability, measurement input	0

PUBLIC AND PRIVATE WARRANTS - F

PUBLIC AND PRIVATE WARRANTS - Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Warrant Liability [Roll Forward]
Fair value at beginning balance			$ 803
Change in fair value of warrants liability	$ (513)	$ 0	(564)	$ (26,147)
Fair value at ending balance	239		239
Private warrants
Warrant Liability [Roll Forward]
Fair value at beginning balance			803
Change in fair value of warrants liability			(564)
Fair value at ending balance	$ 239		$ 239

CONTINGENT EARN-OUT AWARDS - Na

CONTINGENT EARN-OUT AWARDS - Narrative (Details) $ / shares in Units, $ in Millions	Jan. 18, 2022 USD ($) triggeringEvent shares	Jul. 22, 2021 USD ($) tranche d $ / shares shares
Reverse Recapitalization [Line Items]
Earn-out (shares)	23,500,000
Number of tranches of earn-out shares | tranche		6
Earn-out share release, number of trading days above trigger price | d		10
Earn-out share release, number of consecutive trading days in trigger period | d		30
Equity earn-out period start, number of days after closing | d		180
Estimated fair value of total earn-out shares at closing | $		$ 294.8
Contingent earn-out liability | $		$ 231.6
Number of triggering events | triggeringEvent	6
Earn out shares issued (shares)	18,800,000
Earn out shares Issued after withholding of obligations | $	$ 21.5
Earn-out shares withheld for tax obligation (shares)	2,000,000
Unvested RSUs
Reverse Recapitalization [Line Items]
Pro rate earnout shares issuable for holders	4,700,000
Weighted Average Share Price in Excess of $13.00
Reverse Recapitalization [Line Items]
Earn-out (shares)		3,910,000
Earn-out period stock price trigger ($ per share, in excess of) | $ / shares		$ 13
Weighted Average Share Price in Excess of $15.50
Reverse Recapitalization [Line Items]
Earn-out (shares)		3,910,000
Earn-out period stock price trigger ($ per share, in excess of) | $ / shares		$ 15.50
Weighted Average Share Price in Excess of $18.00
Reverse Recapitalization [Line Items]
Earn-out (shares)		3,910,000
Earn-out period stock price trigger ($ per share, in excess of) | $ / shares		$ 18
Weighted Average Share Price in Excess of $20.50
Reverse Recapitalization [Line Items]
Earn-out (shares)		3,910,000
Earn-out period stock price trigger ($ per share, in excess of) | $ / shares		$ 20.50
Weighted Average Share Price in Excess of $23.00
Reverse Recapitalization [Line Items]
Earn-out (shares)		3,910,000
Earn-out period stock price trigger ($ per share, in excess of) | $ / shares		$ 23
Weighted Average Share Price in Excess of $25.50
Reverse Recapitalization [Line Items]
Earn-out (shares)		3,910,000
Earn-out period stock price trigger ($ per share, in excess of) | $ / shares		$ 25.50

CONTINGENT EARN-OUT AWARDS - Ro

CONTINGENT EARN-OUT AWARDS - Rollforward of Contingent Earn-out Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at beginning	$ 377,576
Reallocation of Earn-out Shares to earn-out liability upon forfeitures	896
Change in fair value of earn-out liability	(136,043)
Issuance of Earn-out Shares upon triggering events	(242,429)
Balance at ending	$ 0

STOCK PLAN - Narrative (Details

STOCK PLAN - Narrative (Details)			3 Months Ended	5 Months Ended	9 Months Ended
	Jan. 18, 2022 event shares	Jul. 22, 2021 shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2021	Sep. 30, 2023 USD ($) purchase_period shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based expense related to unvested options | $			$ 400,000		$ 400,000
Number of earnout triggers | event	6
Earn-out (shares)	23,500,000
Earn-out shares withheld for tax obligation (shares)	2,000,000
ISOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based expense, period for recognition					9 months 18 days
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based expense, period for recognition					1 year
Unrecognized stock-based expense, other than options | $			1,300,000		$ 1,300,000
PRSUs | Service-based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					4 years
PRSUs | Service-based Cliff Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period					1 year
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based expense, period for recognition					2 years 1 month 6 days
Unrecognized stock-based expense, other than options | $			239,400,000		$ 239,400,000
Pro rate earnout shares issuable for holders	4,700,000
Earn-out shares issued (shares)	2,700,000
Earn-out shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based expense, other than options | $			$ 27,600,000		$ 27,600,000
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under the plan, as percentage of shares outstanding at closing (percent)		10%
Shares available for grant under the plan (shares)		24,200,000	10,700,000		10,700,000
Annual increase to shares available for grant under the plan as percentage of shares outstanding at prior year end (percent)				5%
Offering period length under the plan					24 months
2021 Plan | ISOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under the plan (shares)		181,500,000
2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under the plan, as percentage of shares outstanding at closing (percent)		3%
Shares available for grant under the plan (shares)		7,300,000	11,400,000		11,400,000
Annual increase to shares available for grant under the plan as percentage of shares outstanding at prior year end (percent)		1%
Shares available for grant, as maximum percentage of shares outstanding at closing (percent)		15.25%
Purchase price of common stock under the plan (percent)					85%
Offering period length under the plan					24 months
Maximum employee subscription rate as a percentage of eligible compensation under the plan (percent)			15%		15%
Maximum number of shares per employee, per purchase period (in shares)					3,000
Maximum number of shares per employee, per offering period (in shares)					12,000
Maximum employee contribution amount | $					$ 25,000
Number of purchase periods | purchase_period					4
Purchase period					6 months
Shares purchased during the period (in shares)			0		500,000
Unrecognized stock-based expense, other than options | $			$ 1,100,000		$ 1,100,000
Recognized remaining weighted average service period					1 year 2 months 12 days
2021 ESPP | ISOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under the plan (shares)			36,900,000		36,900,000

STOCK PLAN - Stock Option Activ

STOCK PLAN - Stock Option Activities (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance, beginning (shares)	33,417
Expired or canceled (shares)	(409)
Exercised (shares)	(3,615)
Balance, ending (shares)	29,393	33,417
Exercisable (shares)	28,166
Weighted- Average Exercise Price Per Share
Beginning balance ($ per share)	$ 0.65
Expired or canceled ($ per share)	0.64
Exercised ($ per share)	0.57
Ending Balance ($ per share)	0.66	$ 0.65
Exercisable ($ per share)	$ 0.65
Options outstanding, weighted-average remaining contractual term (in years)	5 years 6 months	6 years 1 month 6 days
Options exercisable, weighted-average remaining contractual term (in years)	5 years 6 months
Options outstanding, aggregate intrinsic value	$ 44,394	$ 71,842
Options exercised, aggregate intrinsic value	8,358
Options exercisable, aggregate intrinsic value	$ 42,887

STOCK PLAN - RSU and PRSU Activ

STOCK PLAN - RSU and PRSU Activities (Details) - RSUs and PRSUs shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning balance (shares) | shares	37,176
Granted (shares) | shares	10,069
Vested (shares) | shares	(10,552)
Canceled or forfeited (shares) | shares	(6,761)
Ending balance (shares) | shares	29,932
Weighted-Average Grant Date Fair Value
Outstanding, beginning, weighted-average grant date fair value ($ per share) | $ / shares	$ 10.47
Granted ($ per share) | $ / shares	2.92
Vested ($ per share) | $ / shares	10.29
Canceled or forfeited ($ per share) | $ / shares	6.09
Outstanding, ending, weighted-average grant date fair value ($ per share) | $ / shares	$ 8.98

STOCK PLAN - Fair Value Assumpt

STOCK PLAN - Fair Value Assumptions, Options and Earn-out Shares (Details) - 2021 ESPP	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum (percent)	36.10%	34.40%
Expected volatility, maximum (percent)	47.30%	47.40%
Risk-free interest rate, minimum (percent)	0.60%	0.20%
Risk-free interest rate, maximum (percent)	5.40%	2.70%
Expected dividend yield (percent)	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 months	6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	2 years	2 years

STOCK PLAN - Stock-based Compen

STOCK PLAN - Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, net of amounts capitalized	$ 27,421	$ 29,505	$ 90,674	$ 116,738
Capitalized stock-based compensation	2,432	2,801	7,440	11,464
Total stock-based compensation	29,853	32,306	98,114	128,202
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, net of amounts capitalized	782	912	2,468	3,819
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, net of amounts capitalized	5,731	6,362	20,984	27,246
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, net of amounts capitalized	$ 20,908	$ 22,231	$ 67,222	$ 85,673

NET LOSS PER SHARE ATTRIBUTAB_3

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator :
Net loss attributable to common stockholders	$ (44,754)	$ (56,536)	$ (53,842)	$ (58,259)	$ (64,634)	$ 71,904	$ (155,132)	$ (50,989)
Denominator:
Weighted average shares used in computing net loss per share attributable to common stockholders, basic (shares)	303,432			286,458			298,226	281,729
Weighted average shares used in computing net loss per share attributable to common stockholders, diluted (shares)	303,432			286,458			298,226	281,729
Net loss per share attributable to common stockholders, basic ($ per share)	$ (0.15)			$ (0.20)			$ (0.52)	$ (0.18)
Net loss per share attributable to common stockholders, diluted ($ per share)	$ (0.15)			$ (0.20)			$ (0.52)	$ (0.18)

NET LOSS PER SHARE ATTRIBUTAB_4

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS - Antidilutive Securities (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents	62,767	74,246
Private warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents	1,708	1,708
Common stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents	29,393	34,546
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents	29,932	36,143
ESPP shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive common stock equivalents	1,734	1,849

Restructuring and Related Act_2

Restructuring and Related Activities - Summary of Restructuring Charges (Details) - July 2023 Restructuring Plan - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 3,147	$ 3,147
Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,024	3,024
Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	123	123
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring charges	308	308
Cost of revenue | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	308	308
Cost of revenue | Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Cost of revenue - Subscription
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5	5
Cost of revenue - Subscription | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5	5
Cost of revenue - Subscription | Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Cost of revenue - Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	152	152
Cost of revenue - Services | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	152	152
Cost of revenue - Services | Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Cost of revenue - Product
Restructuring Cost and Reserve [Line Items]
Restructuring charges	151	151
Cost of revenue - Product | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	151	151
Cost of revenue - Product | Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring charges	600	600
Research and development | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	600	600
Research and development | Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Selling, general, and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,239	2,239
Selling, general, and administrative | Severance and Other Personnel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,116	2,116
Selling, general, and administrative | Office Space Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 123	$ 123

Restructuring and Related Act_3

Restructuring and Related Activities - Narrative (Details) - July 2023 Restructuring Plan $ in Millions	1 Months Ended
	Jul. 31, 2023	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Reduction of cost on workforce	0.30
Expected cost remaining		$ 4
Accrued expenses and other current liabilities		$ 0.2