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Share-based Compensation | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Share-based Compensation | Share-based Compensation During the three and six months ended June 30, 2024 and 2023, the Company granted awards under the 2018 Omnibus Incentive Compensation Plan, previously named the Amended and Restated 2009 Omnibus Incentive Compensation Plan (the “2018 Plan”), and the 2015 Incentive Compensation Plan (the “2015 Plan”). The Compensation Committee of the Board of Directors administers the plans. Under the 2018 Plan, shares of common stock may be issued upon the exercise of stock options, in the form of restricted stock, or in settlement of restricted stock units (“RSUs”) or other awards, including awards with alternative vesting schedules such as performance-based criteria. The following table presents total share-based compensation expense within each functional line item on the condensed consolidated statements of operations for the three and six months end ed June 30, 2024 and 2023 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenues | $ | 35 |  |  | $ | 223 |  |  | $ | 66 |  |  | $ | 406 |
Research and development | 81 |  |  | 445 |  |  | 241 |  |  | 693 |
Sales and marketing | 50 |  |  | 390 |  |  | 215 |  |  | 719 |
General and administrative | 703 |  |  | 906 |  |  | 1,064 |  |  | 1,944 |
Total | $ | 869 |  |  | $ | 1,964 |  |  | $ | 1,586 |  |  | $ | 3,762 |
Stock Options The Compensation Committee of the Board of Directors determines eligibility, vesting schedules and exercise prices for stock options granted. The Company generally uses the Black-Scholes option pricing model to estimate the fair value of its stock options. For performance stock awards subject to market-based vesting conditions, fair values are determined using the Monte-Carlo simulation model. Stock options generally have a term of ten years and vest over a three- to four-year period. The following table summarizes the Company’s stock option activity for the six months ended June 30, 2024:
Outstanding — December 31, 2023 | 545,872 |  |  |  |  |  |  |
Granted | 14,250 |  |  |  |  |  |  |
Exercised | (270) |  |  |  |  |  |  |
Canceled | (262,605) |  |  |  |  |  |  |
Outstanding — June 30, 2024 | 297,247 |  |  |  |  |  |  |
Exercisable — June 30, 2024 | 195,725 |  |  |  |  |  |  |
At June 30, 2024, total unrecognized compensation expense related to stock options was $0.5 million, which is expected to be recognized over a weighted-average period of 3.15 years. Restricted Stock Units Pursuant to the 2018 Plan and the 2015 Plan, the Company may issue RSUs that, upon satisfaction of vesting conditions, allow recipients to receive common stock. Issuances of such awards reduce common stock available under the 2018 Plan and 2015 Plan for stock incentive awards. The Company measures compensation cost associated with grants of RSUs at fair value, which is generally the closing price of the Company’s stock on the date of grant. RSUs generally vest over a three- to four-year period. The following table summarizes the Company’s RSU activity for the six months ended June 30, 2024:
Non-vested — December 31, 2023 | 203,008 |
Granted | — |
Vested | (29,293) |
Forfeited | (12,274) |
Non-vested — June 30, 2024 | 161,441 |
At June 30, 2024, total unrecognized compensation expense related to RSUs was $1.2 million, which is expected to be recognized over a weighted-average peri od of 0.90 years.

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