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Stockholders' Equity and Stock-Based Compensation (Tables) | 9 Months Ended
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Oct. 01, 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 nine months ended October 1, 2022 and October 2, 2021:
|  | Three Months Ended |  |  | Nine Months Ended |
(in thousands) |  | October 1, 2022 |  |  | October 2, 2021 |  |  | October 1, 2022 |  |  | October 2, 2021 |
Cost of revenues |  | $ | 53 |  |  | $ | 180 |  |  | $ | 173 |  |  | $ | 273 |
Research and development |  |  | 39 |  |  |  | (2 | ) |  |  | 100 |  |  |  | 48 |
Sales and marketing |  |  | 83 |  |  |  | 273 |  |  |  | 264 |  |  |  | 412 |
General and administrative |  |  | 202 |  |  |  | 166 |  |  |  | 568 |  |  |  | 530 |
|  | $ | 377 |  |  | $ | 617 |  |  | $ | 1,105 |  |  | $ | 1,263 |
Summary of Stock Options | The following table summarizes stock options information during the nine months ended October 1, 2022:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |  |  | Aggregate Intrinsic Value (thousands) |
Outstanding as of January 1, 2022 |  |  | 1,772,621 |  |  | $ | 5.07 |  |  |  |
Granted |  |  | 109,000 |  |  |  | 3.59 |  |  |  |
Exercised |  |  | (9,692 | ) |  |  | 2.20 |  |  |  |
Canceled or forfeited |  |  | (98,887 | ) |  |  | 8.72 |  |  |  |
Outstanding as of October 1, 2022 |  |  | 1,773,042 |  |  | $ | 4.79 |  |  | $ | 117 |
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 |  |  | Nine Months Ended |
|  | October 1, 2022 |  |  | October 2, 2021 |  |  | October 1, 2022 |  |  | October 2, 2021 |
Average risk free interest rate |  |  | 3.98 | % |  |  | 0.89 | % |  |  | 3.29 | % |  |  | 0.87 | %
Expected life (in years) |  | 4.5 |  |  | 4.45 |  |  | 4.5 |  |  | 4.45 |
Dividend yield |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | %
Average volatility |  |  | 76 | % |  |  | 74 | % |  |  | 76 | % |  |  | 74 | %
Summary of Stock Options Outstanding, Vested, Expected to Vest and Exercisable | Information regarding stock options outstanding, vested, expected to vest, and exercisable as of October 1, 2022 is summarized below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value (thousands) |
Options outstanding |  |  | 1,773,042 |  |  | $ | 4.79 |  |  |  | 5.05 |  |  | $ | 117 |
Options vested and expected to vest |  |  | 1,695,031 |  |  | $ | 4.79 |  |  |  | 5.00 |  |  | $ | 114 |
Options exercisable |  |  | 935,456 |  |  | $ | 4.85 |  |  |  | 4.27 |  |  | $ | 77 |
Restricted Stock Units | Information regarding RSUs activity for the nine months ended October 1, 2022 is summarized below:
|  | Number of Shares |
Outstanding as of January 1, 2022 |  |  | 253,761 |
RSUs granted |  |  | 137,360 |
RSUs released |  |  | (138,756 | )
RSUs forfeited |  |  | (6,638 | )
Outstanding as of October 1, 2022 |  |  | 245,727 |

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