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Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Based Compensation Expenses

Stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands):

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Cost of goods sold

 

$

29

 

 

$

36

 

 

$

73

 

 

$

71

 

Research and development

 

 

230

 

 

 

255

 

 

 

747

 

 

 

800

 

Sales and marketing(1)

 

 

(223

)

 

 

273

 

 

 

53

 

 

 

856

 

General and administrative

 

 

487

 

 

 

556

 

 

 

1,599

 

 

 

1,848

 

Total stock-based compensation expense

 

$

523

 

 

$

1,120

 

 

$

2,472

 

 

$

3,575

 

 

(1) In the quarter ending September 30, 2023, the company recorded $0.2 million stock based compensation expense reversals that were non-vested and previously recognized expense in the sales and marketing department due to terminations.

Summary of Outstanding Stock Option Activity

The following table summarizes the outstanding stock option activity during the period indicated (shares in thousands):

 

 

 

 

 

 

Weighted average

 

 

 

 

 

Number of
stock options

 

 

Exercise
price

 

 

Remaining contractual term (in years)

 

Aggregate Intrinsic Value (in thousands)

 

Balance at December 31, 2022

 

 

2,065

 

 

$

11.78

 

 

 

6.7

 

$

758.00

 

Granted

 

 

297

 

 

$

5.56

 

 

 

 

 

 

Exercised

 

 

(12

)

 

$

2.30

 

 

 

 

$

40.00

 

Expired/Forfeited

 

 

(304

)

 

$

13.65

 

 

 

 

 

 

Balance at September 30, 2023

 

 

2,046

 

 

$

10.65

 

 

 

6.2

 

$

281.00

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at September 30, 2023

 

 

1,461

 

 

$

11.36

 

 

 

5.2

 

$

281.00

 

Vested and expected to vest at September 30, 2023

 

 

2,046

 

 

$

10.65

 

 

 

6.2

 

$

281.00

 

Summary of Outstanding Restricted Stock Unit Activity

The following table summarizes the Company's restricted stock unit (RSU) activity during the period indicated (shares in thousands):

 

 

 

Restricted
stock units

 

 

Weighted average grant date fair value

 

Balance at December 31, 2022

 

 

444

 

 

$

11.78

 

Grants

 

 

653

 

 

$

5.16

 

Vested and released

 

 

(287

)

 

$

8.17

 

Forfeited

 

 

(138

)

 

$

9.28

 

Balance at September 30, 2023

 

 

672

 

 

$

7.41

 

Schedule of Performance Stock Unit

The following table summarizes the Company's performance stock unit (PSU) activity during the period indicated (shares in thousands):

 

 

 

Performance
stock units

 

 

Weighted average grant date fair value

 

Balance at December 31, 2022

 

 

137

 

 

$

2.09

 

Grants

 

 

 

 

$

 

Vested and released

 

 

 

 

$

 

Forfeited

 

 

(45

)

 

$

2.20

 

Balance at September 30, 2023

 

 

92

 

 

$

2.03