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Stock-based Compensation
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation

NOTE 7 —Stock-based Compensation

 

Stock-based compensation expense for the three and six months ended June 30, 2022, and 2021 is as follows:

                     
   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2022   2021   2022   2021 
Cost of revenues  $9   $16   $20   $32 
Sales and marketing   (28)   55    (2)   111 
General and administrative   240    63    465    237 
Research and development   (5)   45    16    95 
Stock-based compensation expense  $216   $179   $499   $475 

 

Stock Options:

 

Stock option activity for the six months ended June 30, 2022, is set forth in the table below and reflects the 1-for-10 Reverse Stock Split that became effective on September 15, 2021:

       Weighted average   Weighted average
remaining		     
       exercise
price		   contractual
life		   Aggregate
Intrinsic		 
   Options   per share   (in years)   Value* 
Outstanding at January 1, 2022   95,413   $40.00    6.73   $0 
Options granted   —   $—           
Options exercised   —   $—           
Options forfeited   (6,519)  $26.84           
Options expired   (5,538)  $58.78           
Outstanding at June 30, 2022   83,356   $39.78    5.28   $0 
                     
                     
Exercisable at June 30, 2022   60,860   $42.19    4.48   $0 

 

*The intrinsic value is calculated as the difference between the exercise price and the fair value of the common stock on the balance sheet date.

 

As of June 30, 2022, there was approximately $826 of unamortized stock-based compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of approximately two years.

 

 

SONIM TECHNOLOGIES, INC

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(In thousands of U.S. dollars except share and per share amounts or as otherwise disclosed)

 

Restricted Stock Units:

 

Restricted stock units’ (“RSU”) activity for the six months ended June 30, 2022, is set forth in the table below and reflects the 1-for-10 Reverse Stock Split that became effective on September 15, 2021:

   RSUs 
Outstanding at January 1, 2022   347,110 
Granted   — 
Released   (71,347)
Forfeited   (40,661)
Outstanding at June 30, 2022   235,102