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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Summary of Shares Available for Issuance Under 2020 Plan

A summary of the shares available for issuance under the 2020 Plan is as follows:

 

 

Number of Shares

 

Balance at December 31, 2021

 

 

1,082

 

Authorized

 

 

549

 

Granted/Awarded

 

 

(677

)

Cancelled

 

 

43

 

Balance at September 30, 2022

 

 

997

 

Summary of Option Award Activity

Option award activity under the 2020 Plan is set forth below:

 

 

Options Outstanding

 

 

 

Number of Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term (In Years)

 

 

Aggregate Intrinsic Value

 

Outstanding at December 31, 2021

 

 

653

 

 

$

7.57

 

 

 

9.3

 

 

$

 

Options granted

 

 

591

 

 

$

6.19

 

 

 

 

 

 

 

Options exercised

 

 

 

 

$

 

 

 

 

 

 

 

Options cancelled

 

 

(37

)

 

$

6.89

 

 

 

 

 

 

 

Outstanding at September 30, 2022

 

 

1,207

 

 

$

6.91

 

 

 

8.9

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at September 30, 2022

 

 

1,207

 

 

$

6.91

 

 

 

8.9

 

 

$

 

Vested and exercisable at September 30, 2022

 

 

373

 

 

$

7.52

 

 

 

8.6

 

 

$

 

Summary of Fair Value of Stock Options was Estimated Using Assumptions The fair value of stock options was estimated using the following assumptions for the three and nine months ended September 30, 2022 and 2021:

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

2022

 

2021

 

2022

 

2021

Risk-free interest rate

 

2.7 - 3.4%

 

0.8 - 1.1%

 

1.5 - 3.4%

 

0.6 - 1.1%

Expected term (years)

 

6

 

6

 

6

 

6

Expected volatility

 

70%

 

73%

 

70%

 

72 - 73%

Dividends

 

0.0%

 

0.0%

 

0.0%

 

0.0%

Summary of Total Stock-Based Compensation Expense Recognized

The following table sets forth the total stock-based compensation expense recognized under the 2020 Plan and the 2020 ESPP in the Company's condensed statements of operations:

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenue – product

 

$

57

 

 

$

46

 

 

$

163

 

 

$

168

 

Cost of revenue – service

 

 

33

 

 

 

27

 

 

 

95

 

 

 

95

 

Selling, general and administrative expenses

 

 

1,423

 

 

 

1,373

 

 

 

4,197

 

 

 

4,580

 

Research and development expenses

 

 

159

 

 

 

127

 

 

 

461

 

 

 

480

 

Total

 

$

1,672

 

 

$

1,573

 

 

$

4,916

 

 

$

5,323

 

Summary of Unrecognized Stock-based Compensation Expense Expected to be Amortized

Total unrecognized stock-based compensation expense is expected to be amortized as follows:

Fiscal Year

 

Amount

 

2022

 

$

1,649

 

2023

 

 

4,231

 

2024

 

 

994

 

2025

 

 

639

 

2026

 

 

24

 

Thereafter

 

 

 

Total unrecognized stock-based compensation expense

 

$

7,537

 

Restricted Stock Awards  
Summary of Restricted Stock Award and Restricted Stock Units Activity

Restricted stock award activity under the 2020 Plan is set forth below:

 

 

Restricted Stock Awards Outstanding

 

 

 

Number of Units

 

 

Weighted Average Grant Date Fair Value Per Share

 

Non-vested at December 31, 2021

 

 

1,332

 

 

$

10.29

 

Restricted stock awards granted

 

 

 

 

$

 

Restricted stock awards vested

 

 

(591

)

 

$

10.30

 

Restricted stock awards cancelled

 

 

(6

)

 

$

10.81

 

Non-vested at September 30, 2022

 

 

735

 

 

$

10.28

 

Restricted Stock Units  
Summary of Restricted Stock Award and Restricted Stock Units Activity

Restricted stock unit activity under the 2020 Plan is set forth below:

 

 

Restricted Stock Units Outstanding

 

 

 

Number of Units

 

 

Weighted Average Grant Date Fair Value Per Share

 

Non-vested at December 31, 2021

 

 

 

 

$

 

Restricted stock units granted

 

 

86

 

 

$

6.33

 

Restricted stock units vested

 

 

 

 

$

 

Restricted stock units cancelled

 

 

 

 

$

 

Non-vested at September 30, 2022

 

 

86

 

 

$

6.33