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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2024
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:

 

 

 

Three Months Ended March 31,

 

(In Thousands)

 

2023

 

 

2024

 

Service costs

 

$

45

 

 

$

3

 

Sales and marketing

 

 

263

 

 

 

88

 

Product development

 

 

86

 

 

 

8

 

General and administrative

 

 

405

 

 

 

334

 

Total stock-based compensation

 

$

799

 

 

$

433

 

 

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:

 

 

 

Three Months Ended March 31,

 

 

2023

 

2024

Expected life (in years)

 

4.00 - 6.25

 

4.00 - 6.25

Risk-free interest rate

 

3.58% - 3.71%

 

4.21% - 4.31%

Expected volatility

 

53% -64%

 

57% - 64%

 

Summary of Stock Option Activity

Stock option activity during the three months ended March 31, 2024 is summarized as follows:

 

 

Options
(in thousands)

 

 

Weighted
average
exercise price
of options

 

 

Weighted average
remaining
contractual term
(in years)

 

Balance at December 31, 2023

 

5,395

 

 

$

2.21

 

 

 

7.39

 

Options granted

 

72

 

 

$

1.34

 

 

 

 

Options forfeited

 

(82

)

 

$

1.74

 

 

 

 

Options expired

 

(22

)

 

$

2.62

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

Balance at March 31, 2024

 

5,363

 

 

$

2.20

 

 

 

7.16

 

 

Summary of Restricted Stock Awards and Restricted Stock Units

Restricted stock awards and restricted stock unit activity during the three months ended March 31, 2024 is summarized as follows:

 

 

 

Shares/
Units
(In Thousands)

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested at December 31, 2023

 

 

782

 

 

$

1.94

 

Granted

 

 

 

 

 

 

Vested

 

 

(104

)

 

 

2.17

 

Forfeited

 

 

(15

)

 

 

1.46

 

Unvested at March 31, 2024

 

 

663

 

 

 

1.97