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Stockholders' Equity and Stock-based Compensation Expense
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity and Stock-based Compensation Expense Stockholders’ Equity and Stock-based Compensation Expense
The Company’s equity incentive plans are broad-based, long-term programs intended to attract and retain talented employees and align stockholder and employee interests. The 2019 Equity Incentive Plan (the "2019 Plan") and the 2023 Inducement Equity Plan (the "2023 Plan") provides for the grant of incentive stock options, non-statutory stock options, restricted stock units (“RSUs”), performance stock units ("PSUs"), and other stock or cash awards.
Activity under the Company's equity incentive plans is summarized as follows:
Shares Available
for Grant
Balance, December 31, 20233,554,537 
Additional shares reserved— 
Options and stock awards granted
(649,500)
Stock awards canceled / forfeited / expired32,396 
Options canceled / forfeited / expired43,582 
Balance, March 31, 20242,981,015 
The equity plans deduct the shares available for issuance by the gross number of shares for which an award is exercised or vests, not the net number of shares actually issued upon exercise, in the event the exercise price is paid in shares of the Company's common stock or shares are withheld to satisfy tax withholding obligations. Any RSU or PSU shares granted on or after July 13, 2023 are counted against the shares available for grant at a ratio of 1.65 shares for every one share granted.
Options Outstanding
Number of Stock Options Outstanding
Weighted Average Exercise Price
Weighted Average Remaining Term
 (in Years)
Balance, December 31, 20231,282,240 $17.97 8.21
Options granted520,000 $2.11 
Options exercised— $— 
Options canceled / forfeited / expired(43,582)$33.88 
Balance, March 31, 20241,758,658 $12.89 7.87
Stock Awards Outstanding
Number of Awards OutstandingWeighted Average Grant Date Fair Value per Share
Balance, December 31, 2023909,862$20.46 
Stock awards granted
110,000$2.11 
Awards vested
(137,583)$25.53 
Stock awards canceled / forfeited / expired(32,396)$27.11 
Balance, March 31, 2024849,883$18.14 
Stock-based Compensation Expense
Stock-based compensation expense by financial statement line item recognized during the three months ended March 31, 2024 and 2023 was as follows (in thousands):
Three Months Ended
March 31,
20242023
Cost of revenue$149 $364 
Sales and marketing567 1,148 
Research and development305 693 
General and administrative1,088 1,181 
Total stock-based compensation expense$2,109 $3,386