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STOCKHOLDERS’ EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Schedule of Stock Option Valuation Assumptions for Equity Awards and Liability Awards | The fair value of the Company’s stock options granted in 2024 that are being classified as equity awards were estimated using the Black-Scholes option pricing model with the following assumptions and weighted average fair values:
| Year Ended December 31, 2024
Valuation assumptions: |
Grant price | $1.78 – $3.40
Exercise price | $1.78 – $3.40
Expected dividend yield | 0 | %
Expected volatility | 70.68% – 85.82%
Expected life (in years) | 3.37 – 4.37
Risk-free interest rate | 3.70% – 4.40%
Schedule of Stock Option Activity | Stock option activity during the periods indicated below was as follows:
| Number of Shares Subject to Issuance |  | Weighted- average Exercise Price |  | Weighted- average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at December 31, 2022 | 1,120,244 |  | $ | 3.68 |  |  | 3.50 years |  | $ | 84 |
Granted | 627,507 |  | 2.91 |  |  |  |  |
Forfeited | (595,037) |  | 4.05 |  |  |  |  |
Outstanding at December 31, 2023 | 1,152,714 |  | $ | 3.07 |  |  | 3.18 years |  | $ | 38 |
Granted | 650,978 |  | 2.00 |  |  |  |  |
Forfeited | (472,713) |  | 2.42 |  |  |  |  |
Exercised | (179,875) |  | 1.72 |  |  |  |  |
Outstanding at December 31, 2024 | 1,151,104 |  | $ | 2.94 |  |  | 3.88 years |  | $ | 536 |
Exercisable at December 31, 2024 | 434,877 |  | $ | 4.07 |  |  | 2.64 years |  | $ | 115 |
Summary of Stock Options | The following is a summary of stock options as of December 31, 2024:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number of Options |  | Weighted- average Remaining Life |  | Weighted- average Exercise Price |  | Number of Options |  | Weighted- average Exercise Price
$1.81 to $2.52 |  | 726,877 |  | 4.82 years |  | $ | 2.09 |  |  | 189,208 |  | $ | 2.03 |
$2.53 to $11.50 |  | 424,227 |  | 2.74 years |  | $ | 4.39 |  |  | 245,669 |  | $ | 5.46 |
|  | 1,151,104 |  | 3.98 years |  | $ | 2.94 |  |  | 434,877 |  | $ | 3.97 |
Schedule of Restricted Stock Unit Activity | Restricted stock unit activity during the periods indicated below is as follows:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022 | 214,892 |  | $ | 8.43 |
Granted | 249,412 |  | 2.34 |
Forfeited | (70,959) |  | 10.04 |
Vested and Settled in shares | (332,845) |  | 4.29 |
Outstanding at December 31, 2023 | 60,500 |  | $ | 4.23 |
Granted | 223,485 |  | 4.23 |
Forfeited | — |  |  | N/A
Vested and Settled in shares | (246,028) |  | 2.80 |
Outstanding December 31, 2024 | 37,957 |  | $ | 2.51 |
Schedule of Performance Stock Unit Activity |
| Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2022 | 177,688 |  | $ | 7.91 |
Forfeited | (88,844) |  | 7.91 |
Vested and Settled in shares | (88,844) |  | $ | 7.91 |
Outstanding at December 31, 2023 | — |  | $ | — |
Forfeited | — |  | — |
Vested and Settled in shares | — |  | — |
Outstanding at December 31, 2024 | — |  | $ | — |
Schedule of Stock-based Compensation Expense | Stock-based compensation expense for the years ended December 31, 2024 and 2023 is as follows:
| Years Ended December 31,
| 2024 |  | 2023
Stock options | $ | 467 |  |  | $ | 666 |
Restricted stock units | 409 |  |  | 930 |
Performance stock units | — |  |  | — |
| $ | 876 |  |  | $ | 1,596 |
Schedule of Stock-based Compensation Included in Operating Expenses | Stock-based compensation is included in operating expenses as follows:
| Years Ended December 31,
| 2024 |  | 2023
Selling, general and administrative | $ | 821 |  |  | $ | 1,358 |
Research and development | 55 |  |  | 238 |
| $ | 876 |  |  | $ | 1,596 |

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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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