Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.2
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 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 June 30, Six Months Ended June 30,
2022 2021 2022 2021
Stock options expense    
Cost of revenues $ 5 $ 8 $ 10 $ 13
Research and development 10 16 19 22
Selling, general and administrative 192 104 384 161
Total stock options expense $ 207 $ 128 $ 413 $ 196
Restricted stock units expense    
Cost of revenues $ 53 $ $ 107 $
Research and development 33 79
Selling, general and administrative 1,143 1,809
Total restricted stock units expense $ 1,229 $ $ 1,995 $
Total stock-based compensation $ 1,436 $ 128 $ 2,408 $ 196
Schedule of Unrecognized Expense for Stock Options and RSUs
The estimated unrecognized expense for stock options and RSUs not vested as of June 30, 2022, which will be recognized over the remaining requisite service period, is as follows:

Stock options unrecognized expense $ 2,834 
Stock options weighted-average remaining requisite service period (in years) 2.4
Restricted stock units unrecognized expense $ 13,191 
Restricted stock units weighted-average remaining requisite service period (in years) 2.9
Schedule of Stock Options Changes in the Company’s stock options for the six months ended June 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 (305,004) 0.40
Forfeited (37,920) 0.22
Expired (2,645) 0.34
Outstanding at June 30, 2022
3,384,782 2.14 $ 5,524 7.6
Vested and exercisable at June 30, 2022
1,411,811 1.11 3,117 6.3
Schedule of Non-Vested Share Awards
Changes in the status of the Company’s non-vested share awards for the six months ended June 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 (646,993) 1.13
Forfeited (37,920) 0.17
Non-vested at June 30, 2022
1,972,971 1.52
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 six months ended June 30, 2022.

Six Months Ended June 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 2,341,110 4.02
Released (270,484) 6.98
Forfeited (39,140) 8.11
Outstanding at June 30, 2022
2,966,634 4.82