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Share-Based Compensation (Tables) | 6 Months Ended
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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 term |  | 6.2 years
Expected volatility |  | 75.4 | %
Risk-free rate |  | 3.6 | %
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, 2022 | 9,397 |  |  | $ | 4.21 |  |  | 6.2 |  |  |  | $ | 44 |  |
Options Granted | 2,400 |  |  | 1.80 |  |  |  |  |  |  |  |
Options Exercised | — |  |  | — |  |  |  |  |  |  | — |  |
Options Forfeited | (559) |  |  | 3.60 |  |  |  |  |  |  |  |
Outstanding at June 30, 2023 | 11,238 |  |  | $ | 3.75 |  |  | 6.2 |  |  |  | $ | 23 |  | *
Exercisable at June 30, 2023 | 7,623 |  |  | $ | 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 RSUs |  | Weighted Average Fair Value
Unvested shares at December 31, 2022 | 650 |  |  | $ | 2.77 |
Granted | 427 |  |  | 1.81 |
Vested | (273) |  |  | 2.75 |
Forfeited | (30) |  |  | 2.79 |
Unvested shares at June 30, 2023 | 774 |  |  | $ | 2.25 |
Expected to vest at June 30, 2023 | 774 |  |  | $ | 2.25 |
The following table summarizes activity of restricted stock awards during the periods indicated:
(In thousands except per share fair value) | Number of Awards |  | Weighted Average Fair Value
Unvested shares at December 31, 2022 | 183 |  |  | $ | 3.25 |
Granted | — |  |  | — |
Vested | (16) |  |  | $ | 4.23 |
Forfeited | — |  |  | — |
Unvested shares at June 30, 2023 | 167 |  |  | $ | 3.15 |
Expected to vest as of June 30, 2023 | 167 |  |  | $ | 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) | 2023 |  | 2022 |  | 2023 |  | 2022
Share-based compensation expense |  |  |  |  |  |  |
Cost of sales | $ | 87 |  |  | $ | 73 |  |  | $ | 166 |  |  | $ | 130 |
Sales and marketing | 302 |  |  | 399 |  |  | 699 |  |  | 720 |
Research and development | 259 |  |  | 253 |  |  | 499 |  |  | 478 |
General and administrative | 676 |  |  | 571 |  |  | 1,233 |  |  | 1,856 |
Total | $ | 1,324 |  |  | $ | 1,296 |  |  | $ | 2,597 |  |  | $ | 3,184 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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