| Summary of Stock Options Activity |
The activity for stock options under the Company’s stock plans for the nine months ended September 30, 2024 is as follows:
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Remaining |
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weighted- |
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Weighted- |
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average |
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Per share |
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average |
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contractual |
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average |
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Price per |
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exercise |
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terms |
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intrinsic |
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Options |
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share |
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price |
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(in years) |
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value |
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Outstanding as of December 31, 2023 |
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20,000 |
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$ |
83.30 |
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$ |
83.30 |
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0.36 |
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$ |
— |
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Forfeited |
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(10,000 |
) |
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83.30 |
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83.30 |
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Expired |
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(10,000 |
) |
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83.30 |
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83.30 |
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Outstanding as of September 30, 2024 |
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— |
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— |
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— |
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— |
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— |
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Vested and exercisable as of September 30, 2024 |
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— |
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— |
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— |
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— |
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— |
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Vested and expected to vest as of September 30, 2024 |
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— |
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$ |
— |
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$ |
— |
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— |
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$ |
— |
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| Summary of Restricted Stock Activity |
Stock Awards activity for the nine months ended September 30, 2024 is summarized below:
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Weighted- |
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average |
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grant |
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Performance |
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date fair |
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and |
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value |
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Restricted stock units |
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Time-based |
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time-based |
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Total |
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per share |
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Unvested restricted stock units as of December 31, 2023 |
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1,146,404 |
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346,688 |
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1,493,092 |
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$ |
14.67 |
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Granted |
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857,447 |
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587,768 |
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1,445,215 |
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7.23 |
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Vested |
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(389,244 |
) |
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— |
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(389,244 |
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18.03 |
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Forfeited/canceled |
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(292,994 |
) |
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(314,925 |
) |
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(607,919 |
) |
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14.26 |
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Unvested restricted stock units as of September 30, 2024 (1) |
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1,321,613 |
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619,531 |
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1,941,144 |
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$ |
8.65 |
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Unvested and expected to vest restricted stock units outstanding as of September 30, 2024 |
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1,499,262 |
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$ |
8.69 |
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(1) Outstanding restricted stock units are based on the maximum payout of the targeted number of shares.
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| Summary of Stock-based Compensation Expense |
Stock-based compensation expense recognized for the three and nine months ended September 30, 2024 and 2023, was as follows:
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Stock-based compensation expense by type of award: |
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Restricted stock units and restricted stock awards |
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$ |
1,362 |
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$ |
1,682 |
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$ |
5,367 |
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$ |
8,164 |
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Employee stock purchase plan |
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112 |
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97 |
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337 |
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320 |
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Total stock-based compensation expense |
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$ |
1,474 |
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$ |
1,779 |
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$ |
5,704 |
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$ |
8,484 |
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For the three and nine months ended September 30, 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:
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Cost of revenue |
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$ |
123 |
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$ |
164 |
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$ |
448 |
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$ |
401 |
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Research and development |
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68 |
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|
358 |
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453 |
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1,192 |
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Sales and marketing |
|
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363 |
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(255 |
) |
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1,221 |
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1,177 |
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General and administrative |
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920 |
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1,512 |
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3,582 |
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5,714 |
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Total stock-based compensation expense |
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$ |
1,474 |
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$ |
1,779 |
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$ |
5,704 |
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$ |
8,484 |
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