Stock-Based Compensation (Tables)

9 Months Ended

Sep. 28, 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 and nine months ended September 28, 2024 and September 30, 2023 (in thousands):

	Three Months Ended					Nine Months Ended
	September 28, 2024			September 30, 2023		September 28, 2024		September 30, 2023
Cost of revenues	$	68		$	55	$	201	$	150
Research and development		25			63		129		167
Sales and marketing		(43	)		56		178		262
General and administrative		64			197		419		665
Total stock-based compensation expense	$	114		$	371	$	927	$	1,244

Summary of Stock Options

The following table summarizes stock options information during the nine months ended September 28, 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		27,000		$	2.67
Exercised		(2,010	)	$	1.85
Canceled or forfeited		(625,030	)	$	4.48
Outstanding as of September 28, 2024		2,157,881		$	3.34	$	0.1

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						Nine Months Ended
	September 28, 2024			September 30, 2023			September 28, 2024			September 30, 2023
Average risk free interest rate		4.35	%		4.60	%		4.35	%		4.57	%
Expected life (in years)		4.40			4.40			4.40			4.40
Dividend yield	—			—			—			—
Average volatility		77	%		77	%		77	%		77	%

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

Information regarding stock options outstanding, vested, expected to vest, and exercisable as of September 28, 2024 is summarized below:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (thousands)
Options outstanding		2,157,881	$	3.34		4.08	$	0.1
Options vested and expected to vest		2,113,592	$	3.37		4.04	$	0.1
Options exercisable		1,564,648	$	3.74		3.44	—

Restricted Stock Units

Information regarding RSUs activity for the nine months ended September 28, 2024 is summarized below:

	Number of Shares
Outstanding as of December 30, 2023		353,212
RSUs granted		375,246
RSUs released		(282,012	)
RSUs forfeited		(16,669	)
Outstanding as of September 28, 2024		429,777