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Equity Compensation Plans (Tables)
9 Months Ended
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