Share-Based Payment Plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Company Share Based Award Plans

The following table summarizes information about the Company’s share-based award plans as of December 31, 2022:

	Outstanding Options		Outstanding Restricted Stock Units		Shares available for future issuance
2016 Equity Incentive Plan		885,095		-		-
2020 Equity Incentive Plan		1,079,875		398,596		-
2021 AGM Awards		22,600		11,566		244,675
2022 AGM Awards		247,876		50,356		-

Summary Of Stock-based Compensation Is Reflected In The Statements Of Operations

The Company has included share-based compensation expense as part of operating expenses in the accompanying Consolidated Statements of Operations as follows (in thousands):

	Year-ended		Transition period ended		Year-ended
	December 31, 2022		December 31, 2021		June 30, 2021
Sales and marketing expenses	$	1,393	$	663	$	925
General and administrative expenses		4,668		2,318		4,095
Research and development expenses		937		607		644
Total	$	6,998	$	3,588	$	5,664

Summary Of Share Option Activity

A summary of share option activity as of December 31, 2022 and changes during the year then ended is presented below:  

	Service Only Share Options			Performance Based Share Options			Market Awards			Total Share Options			Weighted -Average Exercise Price		Weighted -Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Exercisable at December 31, 2021		1,129,126			599,994			27,600			1,756,720		$	14.86		7.83	$	5,118,309
Granted		737,676			-			-			737,676			5.57
Exercised		(75,125	)		(75,000	)		-			(150,125	)		5.99
Expired		(10,425	)		(6,900	)		-			(17,325	)		14.60
Forfeited		(57,000	)		(6,900	)		(27,600	)		(91,500	)		12.95
Outstanding shares at December 31, 2022		1,724,252			511,194			-			2,235,446			12.47		7.71		1,530,263
Exercisable at December 31, 2022		682,749			310,858			-			993,607		$	12.40		6.17	$	587,632

Summary of Valuation Assumptions Used in Share Options

Included in the following table is a summary of the related assumptions used in the Black-Scholes Option pricing model and Monte-Carlo simulation for the year-ended December 31, 2022, the transition period ended December 31, 2021, and the year-ended June 30, 2021.

	Year-Ended			Transition Period Ended			Year-Ended
	December 31, 2022			December 31, 2021			June 30, 2021
Expected volatility	72% - 113%			68% - 75%			65% - 80%
Weighted-average volatility		103	%		69	%		73	%
Expected dividends		0	%		0	%		0	%
Expected term (in years)	5 - 9.8			5 - 10			5 - 10
Risk-free interest rate	1.42% - 3.94%			0.88% - 1.46%			0.77% - 1.64%

Non Option Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Share Option Activity

A summary of the status of the Company’s unvested RSUs as of December 31, 2022, and changes that occurred during the year is presented below:

Unvested Shares	Service Condition RSU			Performance Condition RSU			Market Condition			Total RSU's			Weighted Average Grant Date Fair Value per Unit
Unvested RSUs outstanding at December 31, 2021		114,757			135,093			47,640			297,490		$	19.66
Granted		384,806			-			-			384,806			5.28
Vested		(75,041	)		(57,527	)		-			(132,568	)		26.43
Forfeited		(29,650	)		(11,920	)		(47,640	)		(89,210	)		7.71
Unvested RSUs outstanding at December 31, 2022		394,872			65,646			-			460,518		$	6.30