Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Series B Preferred Stock

The below table illustrates changes in the Company’s balance of the Series B Preferred Stock for the years ended December 31, 2022, 2021, and 2020 (in thousands, except per share amounts):

	Series B Preferred Stock
	Shares	Amount
Balance at December 31, 2019	—	$	—
Issuance of Series B Preferred Stock	100,000	59,540
Deemed dividends	—	32,028
Balance at December 31, 2020	100,000	$	91,568
Deemed dividends	—	926
Balance at December 31, 2021	100,000	$	92,494
Activity	—	—
Balance at December 31, 2022	100,000	$	92,494

Schedule of Stock Options Activity

A summary of stock option activity for the year ended December 31, 2022 is presented below:

	Number of Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at January 1, 2022	1,444,845	$	5.18
Granted	—	—
Exercised	(312,001)	2.09
Unvested options forfeited	—	—
Vested options expired	(198,950)	4.02
Outstanding at December 31, 2022	933,894	6.46		0.87	—
Exercisable at December 31, 2022	933,894	$	6.46	0.87	$	—

Schedule of Restricted Stock Awards Roll Forward

A summary of Equity Incentive Award activity, by class of award, for the year ended December 31, 2022 is presented below:

	RSA			RSU			PSU
	Number of Shares	Weighted-Average Grant Date  Fair Value		Number of Shares	Weighted-Average Grant Date  Fair Value		Number of Shares	Weighted-Average Grant Date  Fair Value
Unvested at January 1, 2022	877,197	$	4.26	4,228,919	$	8.64	—	$	—
Granted	—	—		4,232,390	4.80		441,965	4.62
Vested	(749,104)	3.95		(1,724,530)	8.33		—	—
Forfeited	(5,338)	5.11		(1,961,808)	6.37		(200,893)	4.62
Unvested at December 31, 2022	122,755	$	6.13	4,774,971	$	6.28	241,072	$	4.62

Schedule of Allocation of Share-Based Compensation

For the years ended December 31, 2022, 2021, and 2020 the Company recognized share-based compensation as follows (in thousands):

 

	Years Ended December 31,
	2022		2021		2020
Cost of sales	$	1,213	$	813	$	520
Selling, general and administrative expenses	9,578		13,108		14,549
Research and development expense	1,875		836		288
Total share-based compensation	12,666		14,757		15,357
Income tax benefit, before consideration of valuation allowance	(3,132)		(3,649)		(3,792)
Total share-based compensation, net of tax benefit	$	9,533	$	11,108	$	11,565

Schedule of Assumptions Used in Determining the Fair Value of These PSUs

The assumptions used in determining the fair value of these PSUs were as follows:

	Assumption
Risk-free interest rate	2.68		%
Expected term (years)	2.74
Expected volatility (annualized)	63.7		%
Dividend yield	—		%
Closing stock price on grant date	$	4.62
Grant date fair value	$	2.78