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StockBased Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Stock Based Compensation  
Schedule of fair value of stock options granted

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

Weighted-average fair value of options granted

 

$1.38

 

 

$2.31

 

Expected volatility

 

 

88%

 

 

82%

Expected life (in years)

 

 

5.74

 

 

 

5.72

 

Risk-free interest rate

 

 

3.76%

 

 

2.99%

Expected dividend yield

 

 

0.00%

 

 

0.00%
Schedule of stock option activity

 

 

 

 

Weighted-

 

 

Weighted-Average

 

Aggregate

 

 

 

Number of

 

 

Average

 

 

Remaining

 

Intrinsic Value

 

 

 

Shares

 

 

Exercise Price

 

 

Contract Life

 

(in thousands)

 

Outstanding at January 1, 2022

 

 

6,988,843

 

 

 

2.40

 

 

4.5 years

 

 

19,829

 

Granted

 

 

1,926,000

 

 

 

3.34

 

 

 

 

 

 

 

Exercised

 

 

(960,865)

 

 

1.33

 

 

 

 

 

 

 

Cancelled/forfeited

 

 

(301,014)

 

 

3.59

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

7,652,964

 

 

 

2.73

 

 

5.3 years

 

 

3,362

 

Granted

 

 

965,500

 

 

 

1.88

 

 

 

 

 

 

 

Exercised

 

 

(183,521)

 

 

1.32

 

 

 

 

 

 

 

Cancelled/forfeited

 

 

(439,144)

 

 

3.04

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

7,995,799

 

 

 

2.64

 

 

4.9 years

 

 

19,469

 

Shares vested and expected to vest

 

 

7,790,316

 

 

 

2.64

 

 

4.9 years

 

 

19,051

 

Exercisable as of December 31, 2023

 

 

6,417,000

 

 

 

2.57

 

 

3.9 years

 

 

16,278

 

Exercisable as of December 31, 2022

 

 

5,655,810

 

 

 

2.25

 

 

4.1 years

 

 

3,362

 

Summary of RSUs outstanding

 

 

Years Ended December 31,

 

 

 

2024

 

 

2025

 

 

2026

 

RSUs with service-based vesting conditions

 

 

13,334

 

 

 

-

 

 

 

-

 

Summary of RSUs activity

 

 

Number of

 

 

Weighted-Average

 

 

 

Units

 

 

Fair Value

 

Outstanding at January 1, 2022

 

 

39,138

 

 

$4.05

 

Granted

 

 

592,500

 

 

 

2.70

 

Vested/released

 

 

(475,653)

 

 

2.50

 

Cancelled/forfeited

 

 

-

 

 

 

-

 

Outstanding at December 31, 2022

 

 

155,985

 

 

 

3.62

 

Granted

 

 

255,000

 

 

 

1.87

 

Vested/released

 

 

(397,651)

 

 

2.57

 

Cancelled/forfeited

 

 

-

 

 

 

-

 

Outstanding at December 31, 2023

 

 

13,334

 

 

 

1.73

 

Statement of operations effect of stock-based compensation

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

Share-based compensation expense by type:

 

 

 

 

 

 

Stock options

 

$3,221

 

 

$2,798

 

Restricted stock units

 

 

628

 

 

 

1,576

 

Total cost related to share-based compensation expense

 

$3,849

 

 

$4,374

 

Share-based compensation expense by financial statement line item:

 

 

 

 

 

 

 

 

Cost of revenue

 

$582

 

 

$425

 

Research and development

 

 

610

 

 

 

542

 

Selling and marketing

 

 

658

 

 

 

681

 

General and administrative

 

 

1,999

 

 

 

2,726

 

Total cost related to share-based compensation expense

 

$3,849

 

 

$4,374