Stock-Based Compensation (Tables)

6 Months Ended

Jul. 01, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Expenses

The following table shows stock-based compensation expense included in the condensed consolidated statements of operations for the three and six months ended July 1, 2023 and July 2, 2022 (in thousands):

	Three Months Ended				Six Months Ended
	July 1, 2023		July 2, 2022		July 1, 2023		July 2, 2022
Cost of revenues	$	34	$	60	$	95	$	120
Research and development		52		32		104		61
Sales and marketing		85		59		206		181
General and administrative		229		193		468		366
	$	400	$	344	$	873	$	728

Summary of Stock Options

The following table summarizes stock options information during the six months ended July 1, 2023:

	Number of Shares			Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2022		2,232,967		$	4.27
Granted		35,600			2.22
Exercised		(17,499	)		2.16
Canceled or forfeited		(151,523	)		5.55
Outstanding as of July 1, 2023		2,099,545		$	4.16	$	16

Weighted Average Assumptions for Fair Value Estimate of Stock-Based Awards (Options)

The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock-based awards (options) with the following weighted average assumptions:

	Three Months Ended						Six Months Ended
	July 1, 2023			July 2, 2022			July 1, 2023			July 2, 2022
Average risk free interest rate		3.83	%		3.16	%		3.83	%		2.59	%
Expected life (in years)	4.4			4.5			4.4			4.5
Dividend yield		—	%		—	%		—	%		—	%
Average volatility		76	%		76	%		76	%		76	%

Summary of Stock Options Outstanding, Vested, Expected to Vest and Exercisable

Information regarding stock options outstanding, vested, expected to vest, and exercisable as of July 1, 2023 is summarized below:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (thousands)
Options outstanding		2,099,545	$	4.16		4.76	$	16
Options vested and expected to vest		2,052,971	$	4.18		4.73	$	16
Options exercisable		1,210,626	$	4.15		3.95	$	14

Restricted Stock Units

Information regarding RSUs activity for the six months ended July 1, 2023 is summarized below:

	Number of Shares
Outstanding as of December 31, 2022		473,029
RSUs granted		196,335
RSUs released		(228,308	)
RSUs forfeited		(39,543	)
Outstanding as of July 1, 2023		401,513