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Equity Incentive Plan
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plan Equity Incentive Plan
Stock Options
The fair value of option awards are estimated on the date of grant using the Black-Scholes option pricing model. Expected volatility was based on historical volatility of the Company’s common shares. The expected term of options granted was based on the simplified formula. The risk-free interest rate was based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. The dividend yield assumption was based on the expectation of no future dividend payments. Option awards can be granted for a maximum term of up to 10 years. The assumptions used in the Black-Scholes model were as follows:
Three Months
Ended June 30,		Six Months
Ended June 30,
2024202320242023
Expected volatility126.1%84.0%
124.3-126.1%
84.0%
Expected term (in years)3.50.53.50.5
Risk-free interest rate
4.61%
5.27%
4.09-4.61%
5.27%
Dividend yield————
The following table summarizes option activity:
Shares
Subject to Options		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic
Value
(in thousands)
Options outstanding — January 1, 2024395,241 $6.34 
Granted371,465 $2.16 
Exercised— $— 
Forfeited(164,117)$3.57 
Options outstanding — June 30, 2024602,589 $4.51 4.6$— 
Vested and expected to vest — June 30, 2024602,589 $4.51 4.6$— 
Exercisable — June 30, 2024360,404 $5.48 4.0$— 
The weighted average grant date fair values of options granted for the six months ended June 30, 2024 and 2023 was $1.67 and $0.51 per share, respectively.
Restricted Stock Units
The following table summarizes RSU activity:
 Number of
Shares		Weighted Average
Grant Date Fair Value
Outstanding — January 1, 202458,929 $9.51 
Granted1,757,250 $1.72 
Vested and released(717,858)$1.84 
Forfeited— $— 
Outstanding — June 30, 20241,098,321 $2.06 
Vested and unreleased — June 30, 2024117,076 $2.15 
The estimated fair value of RSUs was based on the market value of the Company’s common shares on the date of grant. RSUs typically vest over a period of 12 months to three years from the original date of grant. The total grant date fair value of RSUs vested for the six months ended June 30, 2024 and 2023 was approximately $1.6 million and $0.5 million, respectively. The fair value of RSUs vested for the six months ended June 30, 2024 and 2023 was approximately $1.2 million and $0.2 million, respectively.
Restricted Stock Awards
The Company grants RSAs to employees and consultants in lieu of cash payment for services performed. The estimated fair value of the RSA is based on the market value of the Company’s common shares on the date of grant. For the six months ended June 30, 2024, the Company granted 199,597 fully vested RSAs with a weighted average per share price of $1.28 and a fair value of $255,000. There were no RSAs granted for the six months ended June 30, 2023.
Share-Based Compensation Expense
The Company recorded the following compensation expense related to its share-based compensation awards (in thousands):
Three Months
Ended June 30,		Six Months
Ended June 30,
2024202320242023
Sales and marketing$— $35 $— $51 
General and administrative772 684 1,858 1,153 
Total share-based compensation expense$772 $719 $1,858 $1,204 
Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized (in thousands, unless otherwise noted):
June 30, 2024
Unrecognized ExpenseRemaining Weighted-Average Recognition Period (years)
RSUs$1,778 1.3
Stock options$261 0.7