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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 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 for the periods presented below:

 

 

Six Months Ended June 30,

 

 

Three Months Ended June 30,

 

(In Thousands)

 

2023

 

 

2024

 

 

2023

 

 

2024

 

Service costs

 

$

 

 

$

6

 

 

$

(45

)

 

$

3

 

Sales and marketing

 

 

491

 

 

 

176

 

 

 

228

 

 

 

88

 

Product development

 

 

133

 

 

 

22

 

 

 

47

 

 

 

14

 

General and administrative

 

 

876

 

 

 

666

 

 

 

471

 

 

 

332

 

Total stock-based compensation

 

$

1,500

 

 

$

870

 

 

$

701

 

 

$

437

 

 

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,

 

 

2023

 

2024

 

2023

 

2024

Expected life (in years)

 

4.00 - 6.25

 

4.00 - 6.25

 

4.00 - 6.25

 

4.00 - 6.25

Risk-free interest rate

 

3.58% - 4.31%

 

4.21% - 4.43%

 

4.05% - 4.31%

 

4.33% - 4.43%

Expected volatility

 

53% - 64%

 

57% - 64%

 

53% - 64%

 

57% - 59%

 

Summary of Stock Option Activity

Stock option activity during the six months ended June 30, 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

 

105

 

 

$

1.36

 

 

 

 

Options forfeited

 

(110

)

 

$

1.67

 

 

 

 

Options expired

 

(160

)

 

$

7.63

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

Balance at June 30, 2024

 

5,230

 

 

$

2.03

 

 

 

7.10

 

 

Summary of Restricted Stock Awards and Restricted Stock Units

Restricted stock awards and restricted stock unit activity during the six months ended June 30, 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

 

 

(107

)

 

 

2.16

 

Forfeited

 

 

(15

)

 

 

1.46

 

Unvested at June 30, 2024

 

 

660

 

 

 

1.97