Stockholder's Equity

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

(a) Stock Equity and Incentive Plan

The Company recognizes stock-based compensation in accordance with the provisions of ASC Topic 718, Compensation-Stock Compensation. Stock-based compensation expense was $335 and $517, excluding $2 and $5 of compensation shares related to the employee stock purchase plan (ESPP), for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, there was $2,005 of total unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 3.20 years. As of March 31, 2025, there was $1,227 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 1.83 years.

Stock Options

During the three months ended March 31, 2025, the Company issued less than 1 shares of common stock upon the exercise of stock options. Additionally, during the three months ended March 31, 2025, 525 stock options were granted and 63 stock options expired, were canceled or were forfeited. During the three months ended March 31, 2024, no shares of common stock were issued upon the exercise of stock options. Additionally, during the three months ended March 31, 2024, 266 stock options were granted and 14 stock options expired, were canceled or were forfeited. The Company has historically estimated the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions utilized to determine the fair value of options granted during the three months ended March 31, 2025 and 2024 are as follows:



	Three Months Ended March 31,
	2025		2024
Risk-free interest rate	3.95	%	4.36	%
Expected volatility	40.73	%	48.63	%
Expected life (in years)	3.77		4.32
Dividend yield	0	%	0	%

As of March 31, 2025, there were 1,415 options outstanding with a weighted average exercise price of $7.33 per share and 531 options exercisable with a weighted average exercise price of $9.02 per share. As of March 31, 2024, there were 1,482 options outstanding with a weighted average exercise price of $8.75 per share and 641 options exercisable with a weighted average exercise price of $9.86 per share.

Restricted Stock

During the three months ended March 31, 2025, no shares of restricted stock were granted and 21 shares of restricted stock were forfeited. Additionally, during the three months ended March 31, 2025, 83 shares of restricted stock vested. During the three months ended March 31, 2024, 122 shares of restricted stock were granted with a weighted average grant date fair value of $5.03 per share and 8 shares of restricted stock were forfeited. Additionally, during the three months ended March 31, 2024, 66 shares of restricted stock vested.

As of March 31, 2025 and 2024, the Company had no unvested outstanding options and no outstanding shares of restricted stock that were subject to performance-based or market-based vesting conditions.

(b) Employee Stock Purchase Plan

The Company's ESPP affords eligible employees the right to purchase common stock, via payroll deductions, through various offering periods at a purchase price equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the three months ended March 31, 2025 and 2024, 0 and 24 shares were issued under the ESPP plan, respectively. The Company recorded compensation charges related to the ESPP of $2 and $5 for the three months ended March 31, 2025 and 2024, respectively.

The following table presents stock-based compensation expense, including expense for the ESPP, in the Company's consolidated statements of operations for the three months ended March 31, 2025 and 2024, respectively:


	Three Months Ended March 31,
		2025		2024
Cost of service sales		$	7	$	7
Cost of product sales		5		9
Research and development		(49)		89
Sales, marketing and support		77		71
General and administrative		297		346
		$	337	$	522

(d) Accumulated Other Comprehensive Loss (AOCL)

Comprehensive income (loss) includes net income (loss), unrealized gains and losses from foreign currency translation, and unrealized gains and losses on available for sale marketable securities. The components of the Company’s comprehensive income (loss) and the effect on earnings for the periods presented are detailed in the accompanying consolidated statements of comprehensive income (loss).

The balances for the three months ended March 31, 2025 and 2024 are as follows:



	Foreign Currency Translation		Total Accumulated Other Comprehensive Loss
Balance, December 31, 2024	$	(4,032)	$	(4,032)
Other comprehensive income	722		722
Net other comprehensive income	722		722
Balance, March 31, 2025	$	(3,310)	$	(3,310)



	Foreign Currency Translation		Total Accumulated Other Comprehensive Loss
Balance, December 31, 2023	$	(4,185)	$	(4,185)
Other comprehensive income	229		229

Net other comprehensive income	229		229
Balance, March 31, 2024	$	(3,956)	$	(3,956)