Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Stock-Based Compensation

Summary of stock option activity

The following table summarizes the stock option transactions during the three months ended March 31, 2025 (in thousands, except per share data):

				Weighted-
				average
		Weighted-		Remaining
	Number of	average		Contractual	Aggregate
	Options	Exercise		Life	Intrinsic
Stock Options	Outstanding	Price		(in years)	Value
Balance as of January 1, 2025	1,175	$	5.16	3.16	$	—
Granted	—		—
Exercised	—		—
Canceled and expired	—		—
Balance as of March 31, 2025	1,175	$	5.16	2.92	$	—
Options exercisable as of March 31, 2025	1,175	$	5.16	2.92	$	—

Summary of restricted stock awards activity

A summary of activity related to restricted stock awards for the three months ended March 31, 2025 is presented below (in thousands, except per share data):

		Weighted-Average
		Grant Date
Stock Awards	Shares	Share Value
Non-vested as of January 1, 2025	1,541	$	2.84
Granted	114	$	2.18
Vested	(7)	$	13.42
Forfeited	(19)	$	2.87
Non-vested as of March 31, 2025	1,629	$	2.75

Summary of unvested at-risk performance shares

A summary of the status of our unvested at-risk, performance shares as of March 31, 2025 is presented below (in thousands, except per share data):

			Weighted-Average
			Grant Date
Stock Awards	Shares		Share Value
Non-vested as of January 1, 2025	301		$	2.28
Granted	151	(1)	$	2.23
Vested	(75)		$	2.28
Forfeited	—		$	—
Non-vested as of March 31, 2025	377		$	2.26

(1) The number of shares presented assumes the achievement of 100% of a target financial performance metric to be determined by the Company’s Compensation Committee and will be subject to an at-risk, performance shares agreement.

Summary of compensation costs related to stock-based awards

The following table summarizes compensation costs related to our stock-based awards (in thousands, except per share data):

	Three Months Ended
	March 31,
	2025		2024
Cost of revenue	$	63	$	105
Selling, general and administrative		472		553
Research and development		111		151
Net effect on net loss	$	646	$	809