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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Assumptions for Options Granted
The Company used the following weighted average assumptions for options granted during the three months ended March 31, 2023:
Weighted Average: Three Months Ended March 31, 2023
Expected term6.2 years
Expected volatility75.5 %
Risk-free rate3.5 %
Expected dividends— %
Schedule of Service Based Stock Options Activity
The following table summarizes activity of service period-based stock options during the three months ended March 31, 2023:
Weighted Average
(In thousands except per share data and remaining contractual term)Number of
Options
Exercise
Price
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 20229,397 $4.21 6.2$44 
Options Granted2,204 1.82 
Options Exercised— — — 
Options Forfeited(129)4.32 
Outstanding at March 31, 202311,472 $3.75 6.9$13 *
Exercisable at March 31, 20237,145 $4.36 5.3$— *
*The aggregate intrinsic values in the table above are based on the Company’s stock price of $1.53, which is the closing price of the Company’s stock on the last day of business for the period ended March 31, 2023.
Schedule of Restricted Stock Units Activity
The following table summarizes activity of restricted stock units during the three months ended March 31, 2023:
(In thousands except per share fair value)Number of RSUsWeighted Average
Fair Value
Unvested shares at December 31, 2022650 $2.77 
Granted424 1.82 
Vested(99)3.28 
Forfeited(30)2.79 
Unvested shares at March 31, 2023945 $2.29 
Expected to vest at March 31, 2023945 $2.29 
Schedule of Share-Based Compensation
Total share-based compensation expense was as follows:
Three Months Ended March 31,
(In thousands)20232022
Share-based compensation expense
Cost of sales$79 $57 
Sales and marketing397 321 
Research and development240 225 
General and administrative557 1,285 
Total$1,273 $1,888