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Stockholders' Equity and Stock-Based Compensation (Tables)
3 Months Ended
Apr. 01, 2023
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 months ended April 1, 2023 and April 2, 2022 (in thousands):

 

 

 

Three Months Ended

 

 

 

April 1, 2023

 

 

April 2, 2022

 

Cost of revenues

 

$

61

 

 

$

60

 

Research and development

 

 

52

 

 

 

29

 

Sales and marketing

 

 

121

 

 

 

122

 

General and administrative

 

 

239

 

 

 

173

 

 

 

$

473

 

 

$

384

 

Summary of Stock Options

The following table summarizes stock options information during the three months ended April 1, 2023:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price
Per Share

 

 

Aggregate
Intrinsic
Value
(thousands)

 

Outstanding as of December 31, 2022

 

 

2,232,967

 

 

$

4.27

 

 

 

 

Granted

 

 

17,400

 

 

 

2.28

 

 

 

 

Exercised

 

 

(17,499

)

 

 

2.16

 

 

 

 

Canceled or forfeited

 

 

(84,854

)

 

 

4.06

 

 

 

 

Outstanding as of April 1, 2023

 

 

2,148,014

 

 

$

4.28

 

 

$

1

 

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

 

 

 

April 1, 2023

 

 

April 2, 2022

 

Average risk free interest rate

 

 

3.83

%

 

 

2.43

%

Expected life (in years)

 

4.41

 

 

4.5

 

Dividend yield

 

 

%

 

 

%

Average volatility

 

 

76

%

 

 

76

%

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

Information regarding stock options outstanding, vested, expected to vest, and exercisable as of April 1, 2023 is summarized below:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value
(thousands)

 

Options outstanding

 

 

2,148,014

 

 

$

4.28

 

 

 

4.96

 

 

$

1

 

Options vested and expected to vest

 

 

2,086,540

 

 

$

4.30

 

 

 

4.92

 

 

$

1

 

Options exercisable

 

 

976,337

 

 

$

4.87

 

 

 

3.76

 

 

$

1

 

Restricted Stock Units

Information regarding RSUs activity for the three months ended April 1, 2023 is summarized below:

 

 

 

Number
of Shares

 

Outstanding as of December 31, 2022

 

 

473,029

 

RSUs forfeited

 

 

(30,960

)

Outstanding as of April 1, 2023

 

 

442,069