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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

NOTE 7 — Stock-Based Compensation

 

Stock-based compensation expense is as follows:

 

Schedule of Stock based Compensation Expense 

   2024   2023   2024   2023 
   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2024   2023   2024   2023 
Cost of revenues  $15   $50   $27   $202 
Research and development   13    —    20    — 
Sales and marketing   104    86    190    132 
General and administrative   340    222    559    333 
Stock-based compensation expenses  $472   $358   $796   $667 

 

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

 

Stock Options

 

Stock option activity for the six months ended June 30, 2024, is set forth in the table below and has been adjusted retrospectively for the Reverse Stock Split:

 

Summary of Stock Option Activity 

       Weighted   Weighted average     
       average   remaining   Aggregate 
       exercise price   contractual life   Intrinsic 
   Options   per share   (in years)   Value* 
Outstanding at January 1, 2024   514,674   $9.28           
Granted   222,800    6.16           
Exercised   —    —           
Forfeited and Expired   (6,825)   147.24           
Outstanding at June 30, 2024   730,649   $7.04    8.85   $3,447 
Vested and Expected to Vest at June 30, 2024   730,649   $7.04    8.85   $3,447 
Exercisable at June 30, 2024   238,439   $9.80    8.43   $1,213 

 

* 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, 2024, there was approximately $2,043 of unamortized stock-based compensation cost related to unvested stock options, which is expected to be recognized over a weighted average period of 2.10 years.

 

 

Restricted Stock Units

 

Restricted Stock Unit (“RSU”) activity for the six months ended June 30, 2024, is set forth in the table below and has been adjusted retrospectively for the Reverse Stock Split:

 

Schedule of Outstanding Restricted Stock Units 

   RSUs 
Outstanding at January 1, 2024   68,185 
Granted   38,248 
Released   (38,545)
Forfeited   (6,780)
Outstanding at June 30, 2024   61,108 

 

As of June 30, 2024, there was approximately $354 of unamortized stock-based compensation cost related to unvested RSUs, which is expected to be recognized over a weighted average period of 1.03 years.