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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 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:

		Years Ended December 31,
(In Thousands)		2022				2023
Service costs		$	171			$	2
Sales and marketing			796				663
Product development			293				114
General and administrative			1,386				1,613
Total stock-based compensation		$	2,646			$	2,392

Stock-based compensation expense as reported in the Consolidated Statements of Operations for the year ended December 31, 2023, varies from the reported Stock-based compensation from options and restricted stock, net of forfeitures in the Consolidated Statements of Stockholders’ Equity for the year ended December 31, 2023, because of a reclassification of a $750.0 thousand payment owed to a former employee in connection with the Sonar acquisition. This payment was to be made, at the Company's election, in any mix of cash or restricted stock. The Company had previously determined its intent and ability to settle this obligation in restricted stock; however, in December 2023, the Company chose to settle in cash, resulting in a reclassification of this payment obligation from Additional paid-in capital to Other accrued expenses and current liabilities in the Consolidated Statements of Balance Sheets. This caused a decrease to Stock-based compensation from options and restricted stock, net of forfeitures in the Consolidated Statements of Stockholders’ Equity, with no corresponding decrease in stock-based compensation as reported in the Consolidated Statements of Operations, for the year ended December 31, 2023.

Assumptions to Estimate Fair Value for Stock Options at Grant Date

The following assumptions were used in determining the fair value of time-vested stock options granted for the periods indicated:

		Years Ended December 31,
		2022		2023
Expected life (in years)		4.00 - 6.25		4.00 - 6.25
Risk-free interest rate		2.41% - 4.30%		3.86% - 3.93%
Expected volatility		51% - 63%		57% - 64%
Weighted average expected volatility		55%		57%

Stock Option, Restricted Stock Award, and Restricted Stock Unit Activity

Stock option, restricted stock award, and restricted stock unit activity during the period is as follows:

	Options and Restricted Stock available for grant (in thousands)		Number of options outstanding (in thousands)		Weighted average exercise price of options		Weighted average remaining contractual term (in years)		Aggregate intrinsic value (in thousands)
Balance at December 31, 2022	16,599		3,796		$3.14		6.67		$10
Increase to pool January 1, 2023	1,300
Options granted	(3,299)		3,328		$1.67
Restricted stock granted	(333)		—
Restricted stock forfeited	656		—
Options exercised	—		—
Options expired	1,115		(1,115)		$3.62
Options forfeited	614		(614)		$2.49
Balance at December 31, 2023	16,652		5,395		$2.21		7.39		$1
Options exercisable at December 31, 2023			1,674		$3.31		5.40		$1

Information Related to Stock Compensation Activity

Information related to stock compensation activity during the period indicated is as follows:

		Years Ended December 31,
		2022				2023
Weighted average fair value of options granted		$	1.06			$	0.92
Intrinsic value of options exercised (in thousands)		$	—
Total grant date fair value of restricted stock vested (in thousands)		$	1,321			$	3,037

Summary of Restricted Stock Awards and Restricted Stock Units

Restricted stock awards and restricted stock unit activity during the period is as follows:

		Shares/ Units (In Thousands)				Weighted Average Grant Date Fair Value
Unvested at December 31, 2022			1,640			$	2.27
Granted			333				1.84
Vested			(535	)			2.33
Forfeited			(656	)			2.61
Unvested at December 31, 2023			782				1.94

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