XML 51 R38.htm IDEA: XBRL DOCUMENT v3.25.2
STOCK-BASED COMPENSATION PLAN (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Compensation Expense
The following table summarizes the compensation expense we recorded during the three and six months ended June 30, 2025 and 2024, related to unvested restricted stock, performance-based restricted stock awards, restricted stock units and stock options:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Cost of revenues$45 $37 $83 $68 
Selling expense19 14 32 25 
Engineering and product development expense10 8 (1)12 
General and administrative expense361 505 744 808 
$435 $564 $858 $913 
Schedule of Stock Options Valuations Assumptions
The fair value for stock options granted during the six months ended June 30, 2025 and 2024 was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
Six Months Ended
June 30,
20252024
Risk-free interest rate4.28 %3.98 %
Dividend yield0.00 %0.00 %
Expected common stock market price volatility factor.59.57
Weighted average expected life of stock options (years)6.256.25
Schedule of Stock Option Activity
The following table summarizes the activity related to stock options for the six months ended June 30, 2025:
Number
of Shares		Weighted
Average
Exercise Price
Weighted Average Remaining Contractual Term (yrs)
Aggregate Intrinsic Value (in thousands)
Options outstanding, January 1, 2025
602,593$10.92 
Granted310,0867.74 
Exercised(4,925)3.69 
Forfeited(23,188)10.78 
Options outstanding, June 30, 2025
884,566$9.85 7.8$112 
Exercisable399,536$10.55 6.3$112 
Expected to vest485,030$9.27 9.1$— 
The table below summarizes certain additional information with respect to our options:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands, except per option amounts)2025202420252024
Weighted average grant date fair value per option$— $— $4.61 $6.55 
Aggregate intrinsic value of options exercised$— $— $22 $40 
Schedule of Restricted Stock Awards Activity
The following table summarizes the activity related to unvested restricted stock awards for the six months ended June 30, 2025:
Number
of Shares		Weighted
Average
Grant Date
Fair Value
Unvested shares outstanding, January 1, 2025
119,833$11.92 
Granted85,0987.74 
Vested(46,474)11.76 
Forfeited(9,169)10.69 
Unvested shares outstanding, June 30, 2025
149,288$9.67 
Additional information about our restricted stock awards is summarized as follows:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Aggregate market value of RSA’s vested$94 $89 $344 $435 
The following table summarizes the activity related to unvested performance-based restricted stock awards for the six months ended June 30, 2025:
Number
of Shares		Weighted
Average
Grant Date
Fair Value
Unvested shares outstanding, January 1, 2025
88,949$12.53 
Granted49,0987.74 
Vested—— 
Forfeited(37,823)11.48 
Unvested shares outstanding, June 30, 2025
100,224$10.58 
Additional information about our performance-based restricted stock awards is summarized as follows:
Three Months EndedSix Months Ended
June 30,June 30,
(in thousands)2025202420252024
Aggregate market value of PSA’s vested$— $— $— $117 
We began issuing restricted stock units to certain employees in 2025. The following table summarizes the activity related to unvested restricted stock awards for the six months ended June 30, 2025:
Number
of Shares		Weighted
Average
Grant Date
Fair Value
Unvested shares outstanding, January 1, 2025
—$— 
Granted61,0917.98 
Vested—— 
Forfeited—— 
Unvested shares outstanding, June 30, 2025
61,091$7.98