Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.24.1.u1
Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Summary of Stock Options Activity The activity for stock options under the Company’s stock plans for the three months ended March 31, 2024 is as follows:

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

weighted-

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

average

 

 

Per share

 

 

 

 

 

 

 

 

 

average

 

 

contractual

 

 

average

 

 

 

 

 

 

Price per

 

 

exercise

 

 

terms

 

 

intrinsic

 

 

 

Options

 

 

share

 

 

price

 

 

(in years)

 

 

value

 

Outstanding as of December 31, 2023

 

 

20,000

 

 

$

83.30

 

 

$

83.30

 

 

 

0.36

 

 

$

 

Forfeited

 

 

(10,000

)

 

 

83.30

 

 

 

83.30

 

 

 

 

 

 

 

Outstanding as of March 31, 2024

 

 

10,000

 

 

 

83.30

 

 

 

83.30

 

 

 

0.11

 

 

 

 

Vested and exercisable as of March 31, 2024

 

 

10,000

 

 

 

83.30

 

 

 

83.30

 

 

 

0.11

 

 

 

 

Vested and expected to vest as of March 31, 2024

 

 

10,000

 

 

$

83.30

 

 

$

83.30

 

 

 

0.11

 

 

$

 

Summary of Restricted Stock Activity

Stock Awards activity for the three months ended March 31, 2024 is summarized below:

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

average

 

 

 

 

 

 

 

 

 

 

 

 

grant

 

 

 

 

 

 

Performance

 

 

 

 

 

date fair

 

 

 

 

 

 

and

 

 

 

 

 

value

 

Restricted stock units

 

Time-based

 

 

time-based

 

 

Total

 

 

per share

 

Unvested restricted stock units as of December 31, 2023

 

 

1,146,404

 

 

 

346,688

 

 

 

1,493,092

 

 

$

14.67

 

Granted

 

 

608,174

 

 

 

235,000

 

 

 

843,174

 

 

 

6.95

 

Vested

 

 

(163,446

)

 

 

 

 

 

(163,446

)

 

 

20.81

 

Forfeited/canceled

 

 

(28,856

)

 

 

(103,850

)

 

 

(132,706

)

 

 

19.58

 

Unvested restricted stock units as of March 31, 2024 (1)

 

 

1,562,276

 

 

 

477,838

 

 

 

2,040,114

 

 

$

10.96

 

Unvested and expected to vest restricted stock units outstanding as of March 31, 2024

 

 

 

 

 

 

 

 

1,625,427

 

 

$

11.03

 

(1) Outstanding restricted stock units are based on the maximum payout of the targeted number of shares.

Summary of Stock-based Compensation Expense

Stock-based compensation expense recognized for the three months ended March 31, 2024 and 2023, was as follows:

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2024

 

 

2023

 

Stock-based compensation expense by type of award:

 

 

 

 

 

 

Restricted stock units and restricted stock awards

 

$

2,309

 

 

$

3,305

 

Employee stock purchase plan

 

 

107

 

 

 

137

 

Total stock-based compensation expense

 

$

2,416

 

 

$

3,442

 

For the three months ended March 31, 2024 and 2023, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:

 

 

Three months ended

 

 

 

March 31,

 

 

 

2024

 

 

2023

 

Cost of revenue

 

$

180

 

 

$

84

 

Research and development

 

 

460

 

 

 

458

 

Sales and marketing

 

 

430

 

 

 

774

 

General and administrative

 

 

1,346

 

 

 

2,126

 

Total stock-based compensation expense

 

$

2,416

 

 

$

3,442