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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 29, 2024
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 June 29, 2024 and July 1, 2023 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 29, 2024 |  |  | July 1, 2023 |  |  | June 29, 2024 |  |  | July 1, 2023 |
Cost of revenues |  | $ | 73 |  |  | $ | 34 |  |  | $ | 133 |  |  | $ | 95 |
Research and development |  |  | 52 |  |  |  | 52 |  |  |  | 104 |  |  |  | 104 |
Sales and marketing |  |  | 110 |  |  |  | 85 |  |  |  | 221 |  |  |  | 206 |
General and administrative |  |  | 184 |  |  |  | 229 |  |  |  | 355 |  |  |  | 468 |
Total stock-based compensation expense |  | $ | 419 |  |  | $ | 400 |  |  | $ | 813 |  |  | $ | 873 |
Summary of Stock Options | The following table summarizes sto ck options information during the six months ended June 29, 2024:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |  |  | Aggregate Intrinsic Value (thousands) |
Outstanding as of December 30, 2023 |  |  | 2,757,921 |  |  | $ | 3.60 |  |  |  |
Granted |  |  | 20,300 |  |  | $ | 2.94 |  |  |  |
Exercised |  |  | (135 | ) |  | $ | 2.32 |  |  |  |
Canceled or forfeited |  |  | (490,666 | ) |  | $ | 4.68 |  |  |  |
Outstanding as of June 29, 2024 |  |  | 2,287,420 |  |  | $ | 3.37 |  |  | $ | 36 |
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 |
|  | June 29, 2024 |  |  | July 1, 2023 |  |  | June 29, 2024 |  |  | July 1, 2023 |
Average risk free interest rate |  |  | 4.35 | % |  |  | 3.83 | % |  |  | 4.35 | % |  |  | 3.83 | %
Expected life (in years) |  |  | 4.40 |  |  |  | 4.40 |  |  |  | 4.40 |  |  |  | 4.40 |
Dividend yield |  | — |  |  | — |  |  | — |  |  | — |
Average volatility |  |  | 77 | % |  |  | 76 | % |  |  | 77 | % |  |  | 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 June 29, 2024 is summarized below:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value (thousands) |
Options outstanding |  |  | 2,287,420 |  |  | $ | 3.37 |  |  |  | 4.29 |  |  | $ | 36 |
Options vested and expected to vest |  |  | 2,230,362 |  |  | $ | 3.40 |  |  |  | 4.24 |  |  | $ | 34 |
Options exercisable |  |  | 1,258,699 |  |  | $ | 4.03 |  |  |  | 3.03 |  |  | $ | 12 |
Restricted Stock Units | Information regarding RSUs activity for the six months ended June 29, 2024 is summarized below:
|  | Number of Shares |
Outstanding as of December 30, 2023 |  |  | 353,212 |
RSUs granted |  |  | 120,000 |
RSUs released |  |  | (196,335 | )
RSUs forfeited |  |  | (16,669 | )
Outstanding as of June 29, 2024 |  |  | 260,208 |

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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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