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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 30, 2024
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 months ended March 30, 2024 and April 1, 2023 (in thousands):

 

 

 

Three Months Ended

 

 

 

March 30, 2024

 

 

April 1, 2023

 

Cost of revenues

 

$

60

 

 

$

61

 

Research and development

 

 

52

 

 

 

52

 

Sales and marketing

 

 

111

 

 

 

121

 

General and administrative

 

 

171

 

 

 

239

 

Total stock-based compensation expense

 

$

394

 

 

$

473

 

 

Summary of Stock Options

The following table summarizes stock options information during the three months ended March 30, 2024:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price
Per Share

 

 

Aggregate
Intrinsic
Value
(thousands)

 

Outstanding as of December 30, 2023

 

 

2,757,921

 

 

$

3.60

 

 

 

 

Granted

 

 

4,800

 

 

$

2.78

 

 

 

 

Canceled or forfeited

 

 

(338,300

)

 

$

5.43

 

 

 

 

Outstanding as of March 30, 2024

 

 

2,424,421

 

 

$

3.35

 

 

$

1,288

 

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

 

 

 

March 30, 2024

 

 

April 1, 2023

 

Average risk free interest rate

 

 

4.20

%

 

 

3.83

%

Expected life (in years)

 

 

4.40

 

 

4.41

 

Dividend yield

 

 

 

 

Average volatility

 

 

79

%

 

 

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 March 30, 2024 is summarized below:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value
(thousands)

 

Options outstanding

 

 

2,424,421

 

 

$

3.35

 

 

 

4.68

 

 

$

1,288

 

Options vested and expected to vest

 

 

2,424,421

 

 

$

3.35

 

 

 

4.68

 

 

$

1,288

 

Options exercisable

 

 

1,248,633

 

 

$

4.07

 

 

 

3.46

 

 

$

435

 

Restricted Stock Units

RSUs activity for the three months ended March 30, 2024 was nil, with 353,212 RSUs outstanding as of March 30, 2024.