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Equity Compensation Plans (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity Compensation Plans [Abstract] |
Schedule of Total Stock Option Activity | The following table summarizes the Company’s total stock option activity for the nine months ended September 30, 2024:
|  | Options (in thousands) |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term in Years |  |  | Intrinsic Value (in thousands) |
Options outstanding as of January 1, 2024 |  |  | 863 |  |  | $ | 8.13 |  |  |  | 2.2 |  |  | $ | — |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited |  |  | (309 | ) |  |  | 9.69 |  |  |  | — |  |  |  | — |
Options outstanding as of September 30, 2024 |  |  | 554 |  |  | $ | 7.27 |  |  |  | 2.3 |  |  | $ | — |
Schedule of Outstanding and Exercisable Stock Options | Outstanding and exercisable stock options as of September 30, 2024 are as follows:
|  |  | Options Outstanding |  |  | Options Exercisable |
Exercise Prices |  |  | Number of Options Outstanding (in thousands) |  |  | Weighted Average Remaining Life (Years) |  |  | Number of Options Exercisable (in thousands) |  |  | Weighted Average Remaining Life (Years) |  |  | Intrinsic Value (in thousands) |
$ | 6.82 |  |  |  | 500 |  |  |  | 2.5 |  |  |  | 333 |  |  |  | 2.5 |  |  | $ | — |
| 7.99 |  |  |  | 19 |  |  |  | 0.1 |  |  |  | 19 |  |  |  | 0.1 |  |  |  | — |
| 13.12 |  |  |  | 35 |  |  |  | 0.6 |  |  |  | 35 |  |  |  | 0.6 |  |  |  | — |
Schedule of Unvested Stock Option Activity | The following table summarizes the Company’s unvested stock option activity for the nine months ended September 30, 2024:
|  | Options (in thousands) |  |  | Weighted Average Grant Date Fair Value |
Nonvested options as of January 1, 2024 |  |  | 337 |  |  | $ | 0.41 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (170 | ) |  |  | 0.59 |
Forfeited |  |  | — |  |  |  | — |
Nonvested options as of September 30, 2024 |  |  | 167 |  |  | $ | 0.22 |
Schedule of Weighted Average Stock | The Company determined the weighted average grant date fair value of the awards with the market vesting condition to be $1.13 per share using a Monte Carlo Simulation model with the following weighted average assumptions:
Trading price of common stock on measurement date |  | $ | 1.50 |
Risk free interest rate |  |  | 4.46 | %
Expected life in years |  |  | 3.0 |
Expected volatility |  |  | 97.1 | %
Expected dividend yield |  |  | — |
Schedule of Restricted Stock Unit Activity | The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2024:
|  | Number Outstanding (in thousands) |  |  | Weighted Average Grant Date Fair Value |
Nonvested restricted stock units as of January 1, 2024 |  |  | 3,057 |  |  | $ | 2.97 |
Granted |  |  | 1,828 |  |  |  | 1.03 |
Vested |  |  | (582 | ) |  |  | 3.87 |
Forfeited |  |  | (332 | ) |  |  | 3.19 |
Nonvested restricted stock units as of September 30, 2024 |  |  | 3,971 |  |  | $ | 1.93 |
Schedule of Non-Cash Stock Compensation and Statement of Operations | The following table summarizes the aggregate non-cash stock-based compensation recognized in the statement of operations for stock awards, employee stock options and employee restricted stock units (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of revenues |  | $ | 104 |  |  | $ | 100 |  |  | $ | 294 |  |  | $ | 198 |
Marketing and sales |  |  | 167 |  |  |  | 246 |  |  |  | 391 |  |  |  | 461 |
General and administrative |  |  | 440 |  |  |  | 517 |  |  |  | 1,195 |  |  |  | 2,969 |
Research and development |  |  | 80 |  |  |  | 76 |  |  |  | 228 |  |  |  | 164 |
Total non-cash stock-based compensation |  | $ | 791 |  |  | $ | 939 |  |  | $ | 2,108 |  |  | $ | 3,792 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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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