Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Share Activity and Total Number of Share Available for Grant

The following table represents the shares activity and the total number of shares available for grant under the Incentive Plan:

	Shares Available for Grant
Balances as of January 2, 2021		478,022
Additional shares reserved		1,000,000
Options granted		(348,363	)
Restricted stock granted		(257,397	)
Options cancelled or forfeited		159,048
Awards cancelled		91,071
Balances as of January 1, 2022		1,122,381
Options granted		(577,613	)
Restricted stock granted		(547,305	)
Options cancelled or forfeited		107,575
Awards cancelled		9,957
Balances as of December 31, 2022		114,995

Stock-Based Compensation Expenses

The following table shows stock-based compensation expenses by functional area in the consolidated statements of operations for 2022 and 2021 (in thousands):

	FY 2022		FY 2021
	Year Ended		Year Ended
	December 31, 2022		January 1, 2022
Cost of revenues	$	246	$	328
Research and development		155		87
Sales and marketing		400		518
General and administrative		820		695
Total stock-based compensation expense	$	1,621	$	1,628

Summary of Activity in Stock Option Plan

Summary of Stock Options

The following table summarizes information regarding activity in our stock option plans during the fiscal years ended 2022 and 2021 (in thousands except share and per share data):

	Outstanding Options
	Number of Shares			Weighted Average Exercise Price
Balances as of January 2, 2021		1,649,540		$	4.67
Options granted		348,363			6.65
Options exercised		(66,234	)		3.27
Options cancelled or forfeited		(159,048	)		5.14
Balances as of January 1, 2022		1,772,621			5.07
Options granted		577,613			2.53
Options exercised		(9,692	)		2.20
Options cancelled or forfeited		(107,575	)		8.22
Balances as of December 31, 2022		2,232,967		$	4.27

Stock Options Outstanding and Exercisable

The following table summarizes information with respect to stock options outstanding and exercisable as of December 31, 2022:

	Options Outstanding						Options Vested and Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted Average Remaining Contractual Life (years)		Weighted Average Exercise Price		Number of Shares Exercisable		Weighted Average Exercise Price
$1.82 - $2.12		11,175		4.24	$	1.99		7,162	$	1.99
$2.13 - $2.13		349,585		4.33	$	2.13		224,545	$	2.13
$2.18 - $2.27		54,667		4.02	$	2.24		44,240	$	2.24
$2.28 - $2.28		461,913		6.27	$	2.28		-	$	—
$2.30 - $4.86		193,648		5.01	$	3.43		84,574	$	3.62
$4.92 - $4.92		600,000		5.39	$	4.92		279,167	$	4.92
$4.98 - $6.57		194,854		3.70	$	5.71		146,606	$	5.61
$6.58 - $6.58		238,263		4.98	$	6.58		79,575	$	6.58
$6.67 - $14.61		128,400		2.52	$	10.09		100,262	$	10.75
$16.29 - $16.29		462		0.57	$	16.29		462	$	16.29
$1.82 - $16.29		2,232,967		4.98	$	4.27		966,593	$	4.87

Weighted Average Assumptions for Fair Value of Options Granted

The determination of the fair value of options granted is computed using the Black-Scholes option pricing model with the following weighted average assumptions:

	Employee Stock Option Plan
	FY 2022			FY 2021
Average risk free interest rate		3.82	%		0.89	%
Expected life (in years)	4.50 years			4.45 years
Dividend yield		—			—
Average volatility		76.0	%		73.9	%

Stock Options Outstanding, Exercisable and Expected to Vest

Information regarding stock options outstanding, exercisable and expected to vest as of December 31, 2022 is summarized below:

	Number of		Weighted Average		Weighted Average Remaining Contractual		Aggregate Intrinsic Value
	Shares		Exercise Price		Life (years)		(thousands)
Options outstanding		2,232,967	$	4.27		4.98	$	1
Options vested and expected to vest		2,116,879	$	4.31		4.92	$	1
Options exercisable		966,593	$	4.87		3.89	$	1

Restricted Stock Units Outstanding, Vested and Expected to Vest

Information regarding the restricted stock units outstanding, vested and expected to vest as of December 31, 2022 is summarized below:

	Number of Shares		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value (thousands)
Restricted stock units outstanding		473,029		1.05	$	951
Restricted stock units vested and expected to vest		434,273		1.00	$	873

Restricted Stock Units and Awards

Information regarding the RSU activity during the years ended December 31, 2022 and January 1, 2022 is summarized below:

	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding as of January 2, 2021		524,851		$	5.10
Restricted stock units granted		171,598		$	6.78
Restricted stock units released		(381,974	)	$	7.07
Restricted stock units forfeited		(60,714	)	$	4.16
Outstanding as of January 1, 2022		253,761		$	3.50
Restricted stock units granted		364,870		$	2.45
Restricted stock units released		(138,964	)	$	4.88
Restricted stock units forfeited		(6,638	)	$	5.08
Outstanding as of December 31, 2022		473,029		$	3.13