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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 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 six months ended June 30, 2023:
Weighted Average: Six Months Ended June 30, 2023
Expected term6.2 years
Expected volatility75.4 %
Risk-free rate3.6 %
Expected dividends— %
Schedule of Service Based Stock Options Activity
The following table summarizes activity of service period-based stock options during the six months ended June 30, 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 Granted2,400 1.80 
Options Exercised— — — 
Options Forfeited(559)3.60 
Outstanding at June 30, 202311,238 $3.75 6.2$23 *
Exercisable at June 30, 20237,623 $4.37 4.7$— *
*The aggregate intrinsic values in the table above are based on the Company’s stock price of $1.57, which is the closing price of the Company’s stock on the last day of business for the period ended June 30, 2023.
Summary of Activity of Restricted Stock Units and Restricted Stock Awards
The following table summarizes activity of restricted stock units during the six months ended June 30, 2023:
(In thousands except per share fair value)Number of RSUsWeighted Average
Fair Value
Unvested shares at December 31, 2022650 $2.77 
Granted427 1.81 
Vested(273)2.75 
Forfeited(30)2.79 
Unvested shares at June 30, 2023774 $2.25 
Expected to vest at June 30, 2023774 $2.25 
The following table summarizes activity of restricted stock awards during the periods indicated:
(In thousands except per share fair value)Number of AwardsWeighted Average Fair Value
Unvested shares at December 31, 2022183 $3.25 
Granted— — 
Vested(16)$4.23 
Forfeited— — 
Unvested shares at June 30, 2023167 $3.15 
Expected to vest as of June 30, 2023167 $3.15 
Schedule of Share-Based Compensation
Total share-based compensation expense was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2023202220232022
Share-based compensation expense
Cost of sales$87 $73 $166 $130 
Sales and marketing302 399 699 720 
Research and development259 253 499 478 
General and administrative676 571 1,233 1,856 
Total$1,324 $1,296 $2,597 $3,184