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Stock-Based Compensation (Tables) | 6 Months Ended
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Jul. 01, 2023
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 1, 2023 and July 2, 2022 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 1, 2023 |  |  | July 2, 2022 |  |  | July 1, 2023 |  |  | July 2, 2022 |
Cost of revenues |  | $ | 34 |  |  | $ | 60 |  |  | $ | 95 |  |  | $ | 120 |
Research and development |  |  | 52 |  |  |  | 32 |  |  |  | 104 |  |  |  | 61 |
Sales and marketing |  |  | 85 |  |  |  | 59 |  |  |  | 206 |  |  |  | 181 |
General and administrative |  |  | 229 |  |  |  | 193 |  |  |  | 468 |  |  |  | 366 |
|  | $ | 400 |  |  | $ | 344 |  |  | $ | 873 |  |  | $ | 728 |
Summary of Stock Options | The following table summarizes stock options information during the six months ended July 1, 2023:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |  |  | Aggregate Intrinsic Value (thousands) |
Outstanding as of December 31, 2022 |  |  | 2,232,967 |  |  | $ | 4.27 |  |  |  |
Granted |  |  | 35,600 |  |  |  | 2.22 |  |  |  |
Exercised |  |  | (17,499 | ) |  |  | 2.16 |  |  |  |
Canceled or forfeited |  |  | (151,523 | ) |  |  | 5.55 |  |  |  |
Outstanding as of July 1, 2023 |  |  | 2,099,545 |  |  | $ | 4.16 |  |  | $ | 16 |
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 1, 2023 |  |  | July 2, 2022 |  |  | July 1, 2023 |  |  | July 2, 2022 |
Average risk free interest rate |  |  | 3.83 | % |  |  | 3.16 | % |  |  | 3.83 | % |  |  | 2.59 | %
Expected life (in years) |  | 4.4 |  |  | 4.5 |  |  | 4.4 |  |  | 4.5 |
Dividend yield |  |  | — | % |  |  | — | % |  |  | — | % |  |  | — | %
Average volatility |  |  | 76 | % |  |  | 76 | % |  |  | 76 | % |  |  | 76 | %
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 1, 2023 is summarized below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value (thousands) |
Options outstanding |  |  | 2,099,545 |  |  | $ | 4.16 |  |  |  | 4.76 |  |  | $ | 16 |
Options vested and expected to vest |  |  | 2,052,971 |  |  | $ | 4.18 |  |  |  | 4.73 |  |  | $ | 16 |
Options exercisable |  |  | 1,210,626 |  |  | $ | 4.15 |  |  |  | 3.95 |  |  | $ | 14 |
Restricted Stock Units | Information regarding RSUs activity for the six months ended July 1, 2023 is summarized below:
|  | Number of Shares |
Outstanding as of December 31, 2022 |  |  | 473,029 |
RSUs granted |  |  | 196,335 |
RSUs released |  |  | (228,308 | )
RSUs forfeited |  |  | (39,543 | )
Outstanding as of July 1, 2023 |  |  | 401,513 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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