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Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 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 September 30,

 

 

Nine months ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of goods sold

 

$

97

 

 

$

29

 

 

$

220

 

 

$

73

 

Research and development

 

 

260

 

 

 

230

 

 

 

988

 

 

 

747

 

Sales and marketing

 

 

88

 

 

 

(223

)

 

 

243

 

 

 

53

 

General and administrative

 

 

636

 

 

 

487

 

 

 

1,883

 

 

 

1,599

 

Total stock-based compensation expense

 

$

1,081

 

 

$

523

 

 

$

3,334

 

 

$

2,472

 

 

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

 

 

407

 

 

$

5.07

 

 

 

 

 

 

Exercised

 

 

(10

)

 

$

3.36

 

 

 

 

$

18

 

Expired/Forfeited

 

 

(46

)

 

$

11.87

 

 

 

 

 

 

Balance at September 30, 2024

 

 

2,455

 

 

$

9.35

 

 

 

6.0

 

$

2,900

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at September 30, 2024

 

 

1,677

 

 

$

11.09

 

 

 

4.6

 

$

1,026

 

Vested and expected to vest at September 30, 2024

 

 

2,455

 

 

$

9.35

 

 

 

6.0

 

$

2,900

 

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

 

 

494

 

 

$

5.19

 

Vested and released

 

 

(210

)

 

$

7.80

 

Forfeited

 

 

(100

)

 

$

6.47

 

Balance at September 30, 2024

 

 

890

 

 

$

5.84

 

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 September 30, 2024

 

 

110

 

 

$

1.79

 

Schedule of Company's share-settled obligation RSU grants

The following table summarizes the Company’s share-settled obligation RSU grants, which immediately vested during the period indicated:

 

RSU grants that settled obligations (in thousands)

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Grant date fair value

 

$

31.7

 

 

$

 

 

$

227.1

 

 

$

949.2

 

RSU shares granted and vested

 

 

4

 

 

 

 

 

 

49

 

 

 

187