Stockholders' Equity and Stock-Based Compensation (Tables)

6 Months Ended

Jul. 02, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expenses

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended July 2, 2022 and July 3, 2021:

	Three Months Ended				Six Months Ended
(in thousands)	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Cost of revenues	$	60	$	46	$	120	$	93
Research and development		32		14		61		50
Sales and marketing		59		41		181		139
General and administrative		193		179		366		364
	$	344	$	280	$	728	$	646

Summary of Stock Options

The following table summarizes stock options information during the six months ended July 2, 2022:

	Number of Shares			Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value (thousands)
Outstanding as of January 2, 2022		1,772,621		$	5.07
Granted		54,000			4.44
Exercised		(6,063	)		2.25
Canceled or forfeited		(83,346	)		8.50
Outstanding as of July 2, 2022		1,737,212		$	4.90	$	146

Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options)

The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock-based awards (options) with the following weighted average assumptions:

	Three Months Ended						Six Months Ended
	July 2, 2022			July 3, 2021			July 2, 2022			July 3, 2021
Average risk free interest rate		3.16	%		0.79	%		2.59	%		0.77	%
Expected life (in years)	4.5			4.45			4.5			4.45
Dividend yield		—	%		—	%		—	%		—	%
Average volatility		76	%		73	%		76	%		73	%

Summary of Stock Options Outstanding, Vested, Expected to Vest and Exercisable

Information regarding stock options outstanding, vested, expected to vest, and exercisable as of July 2, 2022 is summarized below:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (thousands)
Options outstanding		1,737,212	$	4.90		5.19	$	146
Options vested and expected to vest		1,652,151	$	4.89		5.14	$	142
Options exercisable		833,881	$	4.75		4.28	$	95

Restricted Stock Units

Information regarding RSUs activity for the six months ended July 2, 2022 is summarized below:

	Number of Shares
Outstanding as of January 1, 2022		253,761
RSUs granted		137,360
RSUs released		(95,242	)
RSUs forfeited		(6,638	)
Outstanding as of July 2, 2022		289,241