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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Nonvested Restricted Stock Shares Activity | The following table contains summarized information about restricted stock issued during the years ended December 31, 2024 and March 31, 2025:
Restricted Stock | Common Shares | Weighted Average Grant Date Fair Value | Weighted Average Remaining Years to Vest
Nonvested at December 31, 2023 | — |  | $ | — |  | 0.0
Granted | 125,863 |  | 2.54 |  |
Vested | (125,863) |  | 2.54 |  |
Nonvested at December 31, 2024 | — |  | $ | — |  | 0.0
Granted | 42,858 |  | 2.10 |  |
Vested | (42,858) |  | 2.10 |  |
Nonvested at March 31, 2025 | — |  | $ | — |  | 0.0
Schedule of Nonvested Restricted Stock Units Activity | The following table contains summarized information about restricted stock units during the years ended December 31, 2024, and the three months ended March 31, 2025:
Restricted Stock Units | Common Shares | Weighted Average Grant Date Fair Value | Weighted Average Remaining Years to Vest
Nonvested at December 31, 2023 | 962,849 |  | $ | 2.60 |  | 2.5
Granted | 1,858,023 |  | 2.31 |  |
Vested | (956,679) |  | 2.54 |  |
Forfeited | (305,821) |  | 2.41 |  |
Nonvested at December 31, 2024 | 1,558,372 |  | $ | 2.33 |  | 2.6
Granted | 47,280 |  | 2.50 |  |
Vested | (167,516) |  | 2.21 |  |
Forfeited | (188,958) |  | 2.56 |  |
Nonvested at March 31, 2025 | 1,249,178 |  | $ | 2.32 |  | 1.3
Share-based Payment Arrangement, Option, Activity | A summary of option activity under the 2011 Equity Incentive Plan during the year ended December 31, 2024, and the three months ended March 31, 2025, is presented below:
Options Outstanding | Common Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Life (Years)
Outstanding at December 31, 2023 | 343,601 |  |  | $ | 9.53 |  |  | 5.2
Exercised | (65,154) |  |  | 1.21 |  |  |
Expired | (244,588) |  |  | 10.51 |  |  |
Forfeited | (520) |  |  | 9.24 |  |  |
Outstanding at December 31, 2024 | 33,339 |  |  | $ | 18.60 |  |  | 3.7
Exercised | — |  |  | — |  |  |
Expired | (2,187) |  |  | 27.00 |  |  |
Forfeited | (5) |  |  | 15.44 |  |  |
Outstanding at March 31, 2025 | 31,147 |  |  | $ | 18.01 |  |  | 3.8
Exercisable at March 31, 2025 | 30,736 |  |  | $ | 18.10 |  |  | 3.7
Schedule of Nonvested Share Activity | A summary of the nonvested stock option activity under the 2011 Equity Incentive Plan during the years ended December 31, 2024, and March 31, 2025, is presented below:
Nonvested Options | Common Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Years to Vest
Nonvested at December 31, 2023 | 26,373 |  |  | $ | 8.83 |  |  | 1.1
Vested | (24,728) |  |  | 18.60 |  |  |
Forfeited | (520) |  |  | 9.24 |  |  |
Nonvested at December 31, 2024 | 1,125 |  |  | 18.60 |  |  | 3.7
Vested | (709) |  |  | — |  |  |
Forfeited | (5) |  |  | 9.24 |  |  |
Nonvested at March 31, 2025 | 411 |  |  | $ | 18.01 |  |  | 3.8
Share-Based Payment Arrangement, Performance Shares, Outstanding Activity | The following table contains summarized information about inducement grant-related RSUs during the year ended December 31, 2024, and the three months ended March 31, 2025.
Inducement Shares | Time-Based | Performance Based | Total
Grant Outstanding at December 31, 2023 | 10,000 | 328,354 | 338,354
Granted | 219,355 | — | 219,355
Forfeited (1) | (179,355) | (328,354) | (507,709)
Grant Outstanding at December 31, 2024 | 50,000 | — | 50,000
Granted | — | — | —
Forfeited | — | — | —
Grant Outstanding at March 31, 2025 | 50,000 | — | 50,000
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | Total stock-based compensation expense recognized on restricted stock, restricted stock units, stock options, and employee stock purchase plan issuances during the three months ended March 31, 2025 and 2024 was recorded in the Company’s consolidated statements of operations as follows:
|  |  |  | Three Months Ended March 31,
|  |  |  |  |  |  |  | 2025 |  | 2024
Cost of revenue |  |  |  |  |  |  |  | 62,449 |  |  | $ | 51,571 |
Sales and marketing (1) |  |  |  |  |  |  |  | (10,270) |  |  | 56,488 |
General and administrative |  |  |  |  |  |  |  | 232,953 |  |  | 246,130 |
Total stock-based compensation |  |  |  |  |  |  |  | $ | 285,132 |  |  | $ | 354,189 |
(1) Stock-based compensation expense for the Sales and Marketing department due to the targeted workforce reduction that occurred in January 2025. This is due to the reversal of previously recognized expense for unvested awards that are forfeited upon termination. Because we recognize stock compensation on a straight-line basis over the vesting period—rather than when the shares actually vest—expenses related to unvested awards are recorded in advance of full service being rendered. When employees depart before completing their vesting schedules, any unrecognized expense is reversed.
Schedule of Accumulated Other Comprehensive Income (Loss) | The activity in accumulated other comprehensive income (loss) for the three months ended 2025, and 2024, respectively, was as follows:
| Three Months Ended
| March 31, 2025 |  | March 31, 2024
| Unrealized Gain (Loss) on Securities | Currency Translation Adjustment | Reclassification of foreign currency translation adjustment to income | Total Accumulated Other Comprehensive Income (Loss) |  | Unrealized Gain (Loss) on Securities | Currency Translation Adjustment | Total Accumulated Other Comprehensive Income
Balance at December 31 | $ | 12,209 |  | $ | 127,296 |  | $ | (34,218) |  | $ | 105,287 |  |  | $ | (250,591) |  | $ | — |  | $ | (250,591) |
Other comprehensive income (loss) | (13,903) |  | (109,459) |  | — |  | (123,362) |  |  | 58,177 |  | 4,170 |  | 62,347 |
Balance at March 31 | $ | (1,694) |  | $ | 17,837 |  | $ | (34,218) |  | $ | (18,075) |  |  | $ | (192,414) |  | $ | 4,170 |  | $ | (188,244) |

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