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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Expense Included in Operating Expense

Stock-based compensation expense was included in the following operating expense categories as follows (in thousands):

 

 

Six Months Ended
June 30,

 

 

Three Months Ended
June 30,

 

 

 

2022

 

 

2023

 

 

2022

 

 

2023

 

Service costs

 

$

79

 

 

$

-

 

 

$

45

 

 

$

(45

)

Sales and marketing

 

 

391

 

 

 

491

 

 

 

200

 

 

 

228

 

Product development

 

 

158

 

 

 

133

 

 

 

76

 

 

 

47

 

General and administrative

 

 

781

 

 

 

876

 

 

 

393

 

 

 

471

 

Total stock-based compensation

 

$

1,409

 

 

$

1,500

 

 

$

714

 

 

$

701

 

Assumptions to Estimate Fair Value for Stock Options at Grant Date

The following weighted average assumptions were used in determining the fair value of time-vested stock option grants for the periods presented:

 

 

Six Months Ended June 30,

 

Three Months Ended June 30,

 

 

2022

 

2023

 

2022

 

 

2023

Expected life (in years)

 

4.0 - 6.25

 

4.0 - 6.25

 

4.0

 

 

4.0 - 6.25

Risk-free interest rate

 

2.41%-3.35%

 

3.58%-4.31%

 

 

3.35

%

 

4.05%-4.31%

Expected volatility

 

51%-61%

 

53%-64%

 

 

61

%

 

53%-64%

Summary of Stock Option Activity

Stock option activity during the six months ended June 30, 2023 is summarized as follows:

 

 

Shares
(in thousands)

 

 

Weighted average
exercise price

 

 

Weighted average
remaining
contractual term
(in years)

 

Balance at December 31, 2022

 

 

3,766

 

 

$

3.14

 

 

 

6.67

 

Options granted

 

 

1,350

 

 

 

2.00

 

 

 

 

Options forfeited

 

 

(245

)

 

 

2.67

 

 

 

 

Options expired

 

 

(368

)

 

 

4.42

 

 

 

 

Balance at June 30, 2023

 

 

4,503

 

 

$

2.73

 

 

 

6.38

 

Summary of Restricted Stock Awards and Restricted Stock Units

Restricted stock awards and restricted stock unit activity during the six months ended June 30, 2023 is summarized as follows:

 

 

Shares/
Units
(in thousands)

 

 

Weighted average
grant date
fair value

 

Unvested balance at December 31, 2022

 

 

1,640

 

 

$

2.53

 

Granted

 

 

259

 

 

 

1.97

 

Vested

 

 

(412

)

 

 

2.44

 

Forfeited

 

 

(219

)

 

 

2.74

 

Unvested balance at June 30, 2023

 

 

1,268

 

 

$

2.42