Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.2.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Related to Stock Options and RSUs The following table presents the stock-based compensation related to stock option and RSU awards for the periods presented:
Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
Stock options expense    
Cost of revenues $ 3 $ 14 $ 13 $ 27
Research and development 5 15 24 37
Selling, general and administrative 239 335 623 496
Total stock options expense $ 247 $ 364 $ 660 $ 560
Restricted stock units expense    
Cost of revenues $ 98 $ $ 205 $
Research and development 44 123
Selling, general and administrative 1,081 985 2,890 985
Total restricted stock units expense $ 1,223 $ 985 $ 3,218 $ 985
Total stock-based compensation $ 1,470 $ 1,349 $ 3,878 $ 1,545
Schedule of Unrecognized Expense for Stock Options and RSUs
The estimated unrecognized expense for stock options and RSUs not vested as of September 30, 2022, which will be recognized over the remaining requisite service period, is as follows:

Stock options unrecognized expense $ 2,537 
Stock options weighted-average remaining requisite service period (in years) 2.2
Restricted stock units unrecognized expense $ 12,575 
Restricted stock units weighted-average remaining requisite service period (in years) 2.6
Schedule of Stock Options Changes in the Company’s stock options for the nine months ended September 30, 2022 are presented in the table below.
Number of
Options
Weighted
Average
Exercise Price
per Share
Aggregate
Intrinsic
Value
(in thousands)
Weighted
Average
Remaining Life
(in years)
Outstanding at January 1, 2022 3,209,517 $ 1.66
Granted 520,834 3.92
Exercised (363,823) 0.32
Forfeited (61,436) 1.56
Expired (7,061) 4.24
Outstanding at September 30, 2022
3,298,031 2.16 $ 2,771 7.4
Vested and exercisable at September 30, 2022
1,409,707 1.11 1,610 6.0
Schedule of Non-Vested Share Awards
Changes in the status of the Company’s non-vested stock option awards for the nine months ended September 30, 2022 are presented in the table below.

Non-vested
Shares Under
Option
Weighted
Average
Grant Date
Fair Value per
Share
Non-vested at January 1, 2022 2,137,050 $ 1.21
Granted 520,834 2.33
Vested (708,124) 1.08
Forfeited (61,436) 0.92
Non-vested at September 30, 2022
1,888,324 1.54
Schedule of Black-Scholes Option Pricing Model
A Black-Scholes option pricing model with the following assumptions was utilized to determine the fair value of options granted during the nine months ended September 30, 2022.

Nine Months Ended September 30,
2022
Expected volatility 61.0%
Dividend yield 0%
Risk-free interest rate 2.95%
Expected term (in years) 6.25
Schedule of Restricted Stock Awards
The Company grants RSU awards to employees that generally vest over 3 years. RSU awards are valued based on the closing market price of the Company’s common stock on the grant date.

Number of
RSUs
Weighted
Average
Grant Date
Fair Value per
Share
Outstanding at January 1, 2022 935,148 $ 7.59
Granted 2,687,523 3.91
Released (307,410) 7.10
Forfeited (142,570) 5.79
Outstanding at September 30, 2022
3,172,691 4.60