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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
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 March 31,

 

 

 

2024

 

 

2023

 

Cost of goods sold

 

$

58

 

 

$

15

 

Research and development

 

 

328

 

 

 

237

 

Sales and marketing

 

 

80

 

 

 

161

 

General and administrative

 

 

580

 

 

 

568

 

Total stock-based compensation expense

 

$

1,046

 

 

$

981

 

 

 

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, 2023

 

 

2,104

 

 

$

10.20

 

 

 

6.2

 

$

329

 

Granted

 

 

403

 

 

$

5.07

 

 

 

 

 

 

Exercised

 

 

 

 

$

 

 

 

 

$

 

Expired/Forfeited

 

 

(13

)

 

$

6.80

 

 

 

 

 

 

Balance at March 31, 2024

 

 

2,494

 

 

$

9.39

 

 

 

6.6

 

$

1,051

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at March 31, 2024

 

 

1,609

 

 

$

11.05

 

 

 

5.2

 

$

552

 

Vested and expected to vest at March 31, 2024

 

 

2,494

 

 

$

9.39

 

 

 

6.6

 

$

1,051

 

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, 2023

 

 

706

 

 

$

6.97

 

Grants

 

 

467

 

 

$

5.14

 

Vested and released

 

 

(169

)

 

$

7.79

 

Forfeited

 

 

(34

)

 

$

5.65

 

Balance at March 31, 2024

 

 

970

 

 

$

6.00

 

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, 2023

 

 

110

 

 

$

1.79

 

Grants

 

 

 

 

$

 

Vested and released

 

 

 

 

$

 

Forfeited

 

 

 

 

$

 

Balance at March 31, 2024

 

 

110

 

 

$

1.79

 

Schedule of Accrued Expense Liability and Stock-Based Compensation Expense.

When incurred, share-settled obligation that will be paid in restricted stock units are recorded as accrued expense liability and stock-based compensation expense.

 

RSU Grants that settled Obligations (in thousands)

 

Three months ended March 31,

 

 

 

2024

 

 

2023

 

Amount

 

$

124

 

 

$

949

 

Shares

 

 

31

 

 

 

187