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Stockholders' Equity and Stock-Based Compensation (Tables) | 6 Months Ended
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Jul. 02, 2022
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Expenses | The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended July 2, 2022 and July 3, 2021:
|  | Three Months Ended |  |  | Six Months Ended |
(in thousands) |  | July 2, 2022 |  |  | July 3, 2021 |  |  | July 2, 2022 |  |  | July 3, 2021 |
Cost of revenues |  | $ | 60 |  |  | $ | 46 |  |  | $ | 120 |  |  | $ | 93 |
Research and development |  |  | 32 |  |  |  | 14 |  |  |  | 61 |  |  |  | 50 |
Sales and marketing |  |  | 59 |  |  |  | 41 |  |  |  | 181 |  |  |  | 139 |
General and administrative |  |  | 193 |  |  |  | 179 |  |  |  | 366 |  |  |  | 364 |
|  | $ | 344 |  |  | $ | 280 |  |  | $ | 728 |  |  | $ | 646 |
Summary of Stock Options | The following table summarizes stock options information during the six months ended July 2, 2022:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |  |  | Aggregate Intrinsic Value (thousands) |
Outstanding as of January 2, 2022 |  |  | 1,772,621 |  |  | $ | 5.07 |  |  |  |
Granted |  |  | 54,000 |  |  |  | 4.44 |  |  |  |
Exercised |  |  | (6,063 | ) |  |  | 2.25 |  |  |  |
Canceled or forfeited |  |  | (83,346 | ) |  |  | 8.50 |  |  |  |
Outstanding as of July 2, 2022 |  |  | 1,737,212 |  |  | $ | 4.90 |  |  | $ | 146 |
Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options) | The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock-based awards (options) with the following weighted average assumptions:
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 2, 2022 |  |  | July 3, 2021 |  |  | July 2, 2022 |  |  | July 3, 2021 |
Average risk free interest rate |  |  | 3.16 | % |  |  | 0.79 | % |  |  | 2.59 | % |  |  | 0.77 | %
Expected life (in years) |  | 4.5 |  |  | 4.45 |  |  | 4.5 |  |  | 4.45 |
Dividend yield |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | %
Average volatility |  |  | 76 | % |  |  | 73 | % |  |  | 76 | % |  |  | 73 | %
Summary of Stock Options Outstanding, Vested, Expected to Vest and Exercisable | Information regarding stock options outstanding, vested, expected to vest, and exercisable as of July 2, 2022 is summarized below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value (thousands) |
Options outstanding |  |  | 1,737,212 |  |  | $ | 4.90 |  |  |  | 5.19 |  |  | $ | 146 |
Options vested and expected to vest |  |  | 1,652,151 |  |  | $ | 4.89 |  |  |  | 5.14 |  |  | $ | 142 |
Options exercisable |  |  | 833,881 |  |  | $ | 4.75 |  |  |  | 4.28 |  |  | $ | 95 |
Restricted Stock Units | Information regarding RSUs activity for the six months ended July 2, 2022 is summarized below:
|  | Number of Shares |
Outstanding as of January 1, 2022 |  |  | 253,761 |
RSUs granted |  |  | 137,360 |
RSUs released |  |  | (95,242 | )
RSUs forfeited |  |  | (6,638 | )
Outstanding as of July 2, 2022 |  |  | 289,241 |

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