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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 30, 2023
Equity [Abstract] |
Share Activity and Total Number of Share Available for Grant | The following table represents the shares activity and the total number of shares available for grant under the Incentive Plan:
|  | Shares Available for Grant |
Balances as of January 1, 2022 |  |  | 1,122,381 |
Options granted |  |  | (577,613 | )
Restricted stock granted |  |  | (547,305 | )
Options cancelled or forfeited |  |  | 107,575 |
Awards cancelled |  |  | 9,957 |
Balances as of December 31, 2022 |  |  | 114,995 |
Shares added |  |  | 1,000,000 |
Options granted |  |  | (808,410 | )
Restricted stock granted |  |  | (294,503 | )
Options cancelled or forfeited |  |  | 245,617 |
Awards cancelled |  |  | 75,294 |
Balances as of December 30, 2023 |  |  | 332,993 |
Stock-Based Compensation Expenses | The fo llowing table shows stock-based compensation expenses by functional area in the consolidated statements of operations for 2023 and 2022 (in thousands):
|  | FY 2023 |  |  | FY 2022 |
|  | Year Ended |  |  | Year Ended |
|  | December 30, 2023 |  |  | December 31, 2022 |
Cost of revenues |  | $ | 213 |  |  | $ | 246 |
Research and development |  |  | 217 |  |  |  | 155 |
Sales and marketing |  |  | 378 |  |  |  | 400 |
General and administrative |  |  | 842 |  |  |  | 820 |
Total stock-based compensation expense |  | $ | 1,650 |  |  | $ | 1,621 |
Summary of Activity in Stock Option Plan | The following table summarizes information regarding activity in our stock option plans during the fiscal years ended 2023 and 2022 (in thousands except share and per share data):
|  | Outstanding Options |
|  | Number of Shares |  |  | Weighted Average Exercise Price |
Balances as of January 1, 2022 |  |  | 1,772,621 |  |  |  | 5.07 |
Options granted |  |  | 577,613 |  |  |  | 2.53 |
Options exercised |  |  | (9,692 | ) |  |  | 2.20 |
Options cancelled or forfeited |  |  | (107,575 | ) |  |  | 8.22 |
Balances as of December 31, 2022 |  |  | 2,232,967 |  |  | $ | 4.27 |
Options granted |  |  | 808,410 |  |  |  | 2.13 |
Options exercised |  |  | (37,839 | ) |  |  | 2.18 |
Options cancelled or forfeited |  |  | (245,617 | ) |  |  | 5.04 |
Balances as of December 30, 2023 |  |  | 2,757,921 |  |  | $ | 3.60 |
Stock Options Outstanding and Exercisable | The following table summarizes information with respect to stock options outstanding and exercisable as of December 30, 2023:
|  | Options Outstanding |  |  | Options Vested and Exercisable |
Range of Exercise Prices |  | Number of Shares Outstanding |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Weighted Average Exercise Price |  |  | Number of Shares Exercisable |  |  | Weighted Average Exercise Price |
$1.50 - $2.12 |  |  | 51,475 |  |  |  | 5.79 |  |  | $ | 1.99 |  |  |  | 12,051 |  |  | $ | 1.99 |
$2.13 - $2.13 |  |  | 1,037,809 |  |  |  | 5.83 |  |  | $ | 2.13 |  |  |  | 303,464 |  |  | $ | 2.13 |
$2.17 - $2.27 |  |  | 70,000 |  |  |  | 4.20 |  |  | $ | 2.22 |  |  |  | 46,970 |  |  | $ | 2.23 |
$2.28 - $2.28 |  |  | 380,620 |  |  |  | 5.82 |  |  | $ | 2.28 |  |  |  | 126,867 |  |  | $ | 2.28 |
$2.30 - $4.86 |  |  | 162,338 |  |  |  | 3.80 |  |  | $ | 3.39 |  |  |  | 119,233 |  |  | $ | 3.43 |
$4.92 - $4.92 |  |  | 600,000 |  |  |  | 4.39 |  |  | $ | 4.92 |  |  |  | 300,000 |  |  | $ | 4.92 |
$4.98 - $6.58 |  |  | 376,779 |  |  |  | 3.75 |  |  | $ | 6.19 |  |  |  | 284,274 |  |  | $ | 6.10 |
$6.76 - $9.54 |  |  | 55,500 |  |  |  | 3.24 |  |  | $ | 7.90 |  |  |  | 41,159 |  |  | $ | 8.00 |
$11.16 - $11.16 |  |  | 3,400 |  |  |  | 0.32 |  |  | $ | 11.16 |  |  |  | 3,400 |  |  | $ | 11.16 |
$14.61 - $14.61 |  |  | 20,000 |  |  |  | 0.18 |  |  | $ | 14.61 |  |  |  | 20,000 |  |  | $ | 14.61 |
$1.50 - $14.61 |  |  | 2,757,921 |  |  |  | 4.97 |  |  | $ | 3.60 |  |  |  | 1,257,418 |  |  | $ | 4.25 |
Weighted Average Assumptions for Fair Value of Options Granted | T he determination of the fair value of options granted is computed using the Black-Scholes option pricing model with the following weighted average assumptions:
|  | Employee Stock Option Plan |
|  | FY 2023 |  |  | FY 2022 |
Average risk free interest rate |  |  | 4.57 | % |  |  | 3.82 | %
Expected life (in years) |  | 4.40 years |  |  | 4.50 years |
Dividend yield |  |  | — |  |  |  | — |
Average volatility |  |  | 77.0 | % |  |  | 76.0 | %
Stock Options Outstanding, Exercisable and Expected to Vest | Information regarding stock options outstanding, exercisable and expected to vest as of December 30, 2023 is summarized below:
|  | Number of |  |  | Weighted Average |  |  | Weighted Average Remaining Contractual |  |  | Aggregate Intrinsic Value |
|  | Shares |  |  | Exercise Price |  |  | Life (years) |  |  | (thousands) |
Options outstanding |  |  | 2,757,921 |  |  | $ | 3.60 |  |  |  | 4.97 |  |  | $ | 1,020 |
Options vested and expected to vest |  |  | 2,671,222 |  |  | $ | 3.64 |  |  |  | 4.92 |  |  | $ | 967 |
Options exercisable |  |  | 1,257,418 |  |  | $ | 4.25 |  |  |  | 3.63 |  |  | $ | 335 |
Restricted Stock Units Outstanding, Vested and Expected to Vest | Information regarding the restricted stock units outstanding, vested and expected to vest as of December 30, 2023 is summarized below:
|  | Number of Shares |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (thousands) |
Restricted stock units outstanding |  |  | 353,212 |  |  |  | 0.65 |  |  | $ | 993 |
Restricted stock units vested and expected to vest |  |  | 340,595 |  |  |  | 0.64 |  |  | $ | 957 |
Restricted Stock Units and Awards | Information regarding the restricted stock unit activity during the years ended December 30, 2023 and December 31, 2022 is summarized below:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding as of January 1, 2022 |  |  | 253,761 |  |  | $ | 3.50 |
Restricted stock units granted |  |  | 364,870 |  |  | $ | 2.45 |
Restricted stock units released |  |  | (138,964 | ) |  | $ | 4.88 |
Restricted stock units forfeited |  |  | (6,638 | ) |  | $ | 5.08 |
Outstanding as of December 31, 2022 |  |  | 473,029 |  |  | $ | 3.13 |
Restricted stock units granted |  |  | 196,335 |  |  | $ | 1.91 |
Restricted stock units released |  |  | (265,956 | ) |  | $ | 3.10 |
Restricted stock units forfeited |  |  | (50,196 | ) |  | $ | 3.22 |
Outstanding as of December 30, 2023 |  |  | 353,212 |  |  | $ | 2.46 |

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