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Stockholders' Equity (Tables)
9 Months Ended
Sep. 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:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(In Thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service costs

 

$

8

 

 

$

 

 

$

14

 

 

$

 

Sales and marketing

 

 

41

 

 

 

89

 

 

 

217

 

 

 

580

 

Product development

 

 

13

 

 

 

(39

)

 

 

35

 

 

 

94

 

General and administrative

 

 

349

 

 

 

357

 

 

 

1,015

 

 

 

1,233

 

Total stock-based compensation

 

$

411

 

 

$

407

 

 

$

1,281

 

 

$

1,907

 

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 September 30,

 

Nine Months Ended September 30,

 

 

2024

 

2023

 

2024

 

2023

Expected life (in years)

 

4.00 - 6.25

 

4.00 - 6.25

 

4.00 - 6.25

 

4.00 - 6.25

Risk-free interest rate

 

3.93% - 4.08%

 

4.61% - 4.70%

 

3.93% - 4.43%

 

3.58% - 4.70%

Expected volatility

 

57% - 59%

 

56% - 64%

 

57% - 64%

 

53% - 64%

 

Summary of Stock Option Activity

Stock option activity during the nine months ended September 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

 

1,730

 

 

 

1.58

 

 

 

 

Options forfeited

 

(164

)

 

 

1.65

 

 

 

 

Options expired

 

(161

)

 

 

7.36

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

Balance at September 30, 2024

 

6,800

 

 

$

1.93

 

 

 

8.00

 

 

Summary of Restricted Stock Award and Restricted Stock Units

Restricted stock award and restricted stock unit activity during the nine months ended September 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

 

 

(358

)

 

 

1.96

 

Forfeited

 

 

(15

)

 

 

1.46

 

Unvested at September 30, 2024

 

 

409

 

 

$

2.04