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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

NOTE 6 — Stock-Based Compensation

 

Stock-based compensation expense is as follows:

 

   2024   2023 
   Three Months Ended 
   March 31, 
   2024   2023 
Cost of revenues  $12   $152 
Research and development   7    — 
Sales and marketing   86    46 
General and administrative   219    111 
 Stock-based compensation expenses   $324   $309 

 

Stock-based compensation in Cost of Revenues relates to employees who focus on supply chain management.

 

Stock Options

 

Stock option activity for the three months ended March 31, 2024, is set forth in the table below:

 

       Weighted   Weighted average     
       average   remaining   Aggregate 
       exercise price   contractual life   Intrinsic 
   Options   per share   (in years)   Value* 
Outstanding at January 1, 2024   5,146,382   $0.93           
Granted   35,000    0.72           
Exercised   —    —           
Forfeited and Expired   (16,874)   10.81           
Outstanding at March 31, 2024   5,164,508   $0.89    8.64   $779 
Vested and Expected to Vest at March 31, 2024   5,164,508   $0.89    8.62   $779 
Exercisable at March 31, 2024   2,117,649   $1.49    8.50   $293 

 

* 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 March 31, 2024, there was approximately $1,171 of unamortized stock-based compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 1.81 years.

 

 

Restricted Stock Units

 

Restricted Stock Unit (“RSU”) activity for the three months ended March 31, 2024, is set forth in the table below:

 

   RSUs 
Outstanding at January 1, 2024   681,846 
Granted   66,675 
Released   — 
Forfeited   (70,396)
Outstanding at March 31, 2024   678,125 

 

As of March 31, 2024, there was approximately $283 of unamortized stock-based compensation cost related to unvested RSUs, which is expected to be recognized over a weighted average period of 0.85 years.