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Stockholders’ Equity (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Share-Based Compensation Expense | The following table sets forth share-based compensation expense included in the condensed consolidated statements of operations:
| Three Months Ended June 30,
(in thousands) | 2024 |  | 2023
Cost of revenue | $ | 29 |  |  | $ | 27 |
Research and development | 406 |  |  | 370 |
Sales and marketing | 524 |  |  | 484 |
General and administrative | 837 |  |  | 764 |
Share-based compensation expense | $ | 1,796 |  |  | $ | 1,645 |
| Six Months Ended June 30,
(in thousands) | 2024 |  | 2023
Cost of revenue | $ | 51 |  |  | $ | 47 |
Research and development | 743 |  |  | 652 |
Sales and marketing | 945 |  |  | 847 |
General and administrative | 1,561 |  |  | 1,406 |
Share-based compensation expense | $ | 3,300 |  |  | $ | 2,952 |
Share-based compensation expense by type of share-based award is summarized below:
| Three Months Ended June 30,
(in thousands) | 2024 |  | 2023
Stock options | $ | 195 |  |  | $ | 266 |
RSAs and RSUs | 1,540 |  |  | 1,312 |
ESPP | 61 |  |  | 67 |
| $ | 1,796 |  |  | $ | 1,645 |
| Six Months Ended June 30,
(in thousands) | 2024 |  | 2023
Stock options | $ | 403 |  |  | $ | 514 |
RSAs and RSUs | 2,776 |  |  | 2,304 |
ESPP | 121 |  |  | 134 |
| $ | 3,300 |  |  | $ | 2,952 |
Total unrecognized compensation expense by type of award and the weighted-average remaining requisite holding period over which such expense is expected to be recognized (in thousands, unless otherwise noted):
| June 30, 2024
| Unrecognized Expense |  | Remaining Weighted-Average Recognition Period (in years)
Stock options | $ | 597 |  |  | 1.31
RSAs and RSUs | $ | 11,310 |  |  | 2.03
Schedule of Stock Option Activity | Stock option activity under the Company’s current and previous plans during the six months ended June 30, 2024 is summarized below:
| Stock Options |  | Weighted-average Exercise price per share |  | Weighted-average Remaining Contractual Life (in years) |  | Intrinsic Value(1) (in thousands)
Outstanding at December 31, 2023 | 1,478,157 |  |  | $ | 8.40 |  |  |  |  |
Exercised | (11,000) |  |  | $ | 3.01 |  |  |  |  |
Forfeited or expired | (6,112) |  |  | $ | 42.82 |  |  |  |  |
Outstanding at June 30, 2024 | 1,461,045 |  |  | $ | 8.30 |  |  | 4.99 |  | $ | 2,183 |
Exercisable at June 30, 2024 | 1,302,175 |  |  | $ | 8.03 |  |  | 4.60 |  | $ | 2,183 |
Vested and expected to vest at June 30, 2024 | 1,461,045 |  |  | $ | 8.30 |  |  | 4.99 |  | $ | 2,183 |
(1) | Intrinsic value is calculated as the estimated fair value of the Company’s stock at the end of the related period less the option exercise price of in-the-money options.
Schedule of Restricted Stock Activity | Restricted stock award ("RSA") activity for the six months ended June 30, 2024 is summarized below:
|  | Restricted Stock Awards |  | Weighted - Average Grant Date Fair Value
Outstanding at December 31, 2023 |  | 376,914 |  |  | $ | 12.02 |
Vested |  | (147,197) |  |  | $ | 11.76 |
Forfeited |  | (3,679) |  |  | $ | 12.11 |
Outstanding at June 30, 2024 |  | 226,038 |  |  | $ | 12.18 |
Restricted Stock Unit Activity Restricted stock unit ("RSU") activity for the six months ended June 30, 2024 is summarized below:
|  | Restricted Stock Units |  | Weighted - Average Grant Date Fair Value
Outstanding at December 31, 2023 |  | 768,139 |  |  | $ | 8.15 |
Granted |  | 1,192,622 |  |  | $ | 6.16 |
Vested |  | (260,441) |  |  | $ | 8.06 |
Forfeited |  | (12,911) |  |  | 8.52 |
Outstanding at June 30, 2024 |  | 1,687,409 |  |  | $ | 6.76 |

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