Stockholders' Equity and Stock-Based Compensation (Tables)

9 Months Ended

Oct. 01, 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 nine months ended October 1, 2022 and October 2, 2021:

	Three Months Ended					Nine Months Ended
(in thousands)	October 1, 2022		October 2, 2021			October 1, 2022		October 2, 2021
Cost of revenues	$	53	$	180		$	173	$	273
Research and development		39		(2	)		100		48
Sales and marketing		83		273			264		412
General and administrative		202		166			568		530
	$	377	$	617		$	1,105	$	1,263

Summary of Stock Options

The following table summarizes stock options information during the nine months ended October 1, 2022:

	Number of Shares			Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value (thousands)
Outstanding as of January 1, 2022		1,772,621		$	5.07
Granted		109,000			3.59
Exercised		(9,692	)		2.20
Canceled or forfeited		(98,887	)		8.72
Outstanding as of October 1, 2022		1,773,042		$	4.79	$	117

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						Nine Months Ended
	October 1, 2022			October 2, 2021			October 1, 2022			October 2, 2021
Average risk free interest rate		3.98	%		0.89	%		3.29	%		0.87	%
Expected life (in years)	4.5			4.45			4.5			4.45
Dividend yield		—	%		—	%		—	%		—	%
Average volatility		76	%		74	%		76	%		74	%

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

Information regarding stock options outstanding, vested, expected to vest, and exercisable as of October 1, 2022 is summarized below:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (thousands)
Options outstanding		1,773,042	$	4.79		5.05	$	117
Options vested and expected to vest		1,695,031	$	4.79		5.00	$	114
Options exercisable		935,456	$	4.85		4.27	$	77

Restricted Stock Units

Information regarding RSUs activity for the nine months ended October 1, 2022 is summarized below:

	Number of Shares
Outstanding as of January 1, 2022		253,761
RSUs granted		137,360
RSUs released		(138,756	)
RSUs forfeited		(6,638	)
Outstanding as of October 1, 2022		245,727