Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Share-Based Payment Arrangement [Abstract] |
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| 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:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Stock options expense |
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| Cost of revenues |
$ |
5 |
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$ |
5 |
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$ |
7 |
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$ |
10 |
| Research and development |
1 |
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10 |
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7 |
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19 |
| Selling, general and administrative |
322 |
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192 |
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519 |
|
384 |
| Total stock options expense |
$ |
328 |
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$ |
207 |
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$ |
533 |
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$ |
413 |
| Restricted stock units expense |
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| Cost of revenues |
$ |
73 |
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$ |
53 |
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$ |
160 |
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$ |
107 |
| Research and development |
(7) |
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33 |
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54 |
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79 |
| Selling, general and administrative |
965 |
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1,143 |
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2,054 |
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1,809 |
| Total restricted stock units expense |
$ |
1,031 |
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$ |
1,229 |
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$ |
2,268 |
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$ |
1,995 |
| Total stock-based compensation |
$ |
1,359 |
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$ |
1,436 |
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$ |
2,801 |
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$ |
2,408 |
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| Schedule of Unrecognized Expense for Stock Options and RSUs |
The estimated unrecognized expense for stock options and RSUs not vested as of June 30, 2023, which will be recognized over the remaining requisite service period, is as follows:
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| Stock options unrecognized expense |
$ |
2,717 |
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| Stock options weighted-average remaining requisite service period (in years) |
1.7 |
| Restricted stock units unrecognized expense |
$ |
8,458 |
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| Restricted stock units weighted-average remaining requisite service period (in years) |
1.5 |
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| Schedule of Stock Options |
Changes in the Company’s stock options for the six months ended June 30, 2023 are presented in the table below.
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Number of
Options |
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Weighted
Average
Exercise Price
per Share |
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Aggregate
Intrinsic
Value
(in thousands) |
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Weighted
Average
Remaining Life
(in years) |
| Outstanding at January 1, 2023 |
138,091 |
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$ |
45.60 |
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| Granted |
— |
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$ |
— |
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| Exercised |
(9,502) |
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$ |
1.08 |
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| Forfeited |
(4,100) |
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$ |
12.96 |
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| Expired |
(1,093) |
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$ |
— |
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Outstanding at June 30, 2023 |
123,396 |
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$ |
50.32 |
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$ |
96 |
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7.5 |
Vested and exercisable at June 30, 2023 |
70,636 |
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$ |
39.56 |
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$ |
64 |
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7.2 |
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| Schedule of Non-Vested Share Awards |
Changes in the status of the Company’s non-vested stock option awards for the six months ended June 30, 2023 are presented in the table below.
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Non-vested
Shares Under
Option |
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Weighted
Average
Grant Date
Fair Value per
Share |
| Non-vested at January 1, 2023 |
73,939 |
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$ |
35.00 |
| Granted |
— |
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$ |
— |
| Vested |
(17,079) |
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$ |
87.65 |
| Forfeited |
(4,100) |
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$ |
12.96 |
Non-vested at June 30, 2023 |
52,760 |
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$ |
64.73 |
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| 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.
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Number of
RSUs |
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Weighted
Average
Grant Date
Fair Value per
Share |
| Outstanding at January 1, 2023 |
188,223 |
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$ |
71.40 |
| Granted |
239,189 |
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$ |
5.45 |
| Vested |
(39,069) |
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$ |
89.26 |
| Forfeited |
(31,949) |
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$ |
57.07 |
Outstanding at June 30, 2023 |
356,394 |
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$ |
26.51 |
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