Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2023 and October 1, 2022 (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Cost of revenues	$	55	$	53	$	150	$	173
Research and development		63		39		167		100
Sales and marketing		56		83		262		264
General and administrative		197		202		665		568
	$	371	$	377	$	1,244	$	1,105

Summary of Stock Options

The following table summarizes stock options information during the nine months ended September 30, 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		808,410			2.13
Exercised		(17,499	)		2.16
Canceled or forfeited		(220,776	)		5.14
Outstanding as of September 30, 2023		2,803,102		$	3.60	$	595

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
	September 30, 2023			October 1, 2022			September 30, 2023			October 1, 2022
Average risk free interest rate		4.60	%		3.98	%		4.57	%		3.29	%
Expected life (in years)	4.4			4.5			4.4			4.5
Dividend yield		—	%		—	%		—	%		—	%
Average volatility		77	%		76	%		77	%		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 September 30, 2023 is summarized below:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (thousands)
Options outstanding		2,803,102	$	3.60		5.16	$	595
Options vested and expected to vest		2,695,684	$	3.64		5.11	$	558
Options exercisable		1,274,102	$	4.23		3.77	$	193

Restricted Stock Units

Information regarding RSUs activity for the nine months ended September 30, 2023 is summarized below:

	Number of Shares
Outstanding as of December 31, 2022		473,029
RSUs granted		196,335
RSUs released		(265,956	)
RSUs forfeited		(50,196	)
Outstanding as of September 30, 2023		353,212