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Stock-Based Compensation
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

4. Stock-based Compensation

The Company's stock-based compensation expense is associated with stock options, RSUs and its employee stock purchase plan (“ESPP”) awarded under its equity incentive plans.

Stock-based compensation expense was allocated as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenue

 

$

38

 

 

$

137

 

 

$

77

 

 

$

261

 

Sales and marketing

 

 

60

 

 

 

184

 

 

 

124

 

 

 

349

 

Research and development

 

 

124

 

 

 

305

 

 

 

251

 

 

 

575

 

General and administrative

 

 

109

 

 

 

627

 

 

 

292

 

 

 

1100

 

Total stock-based compensation

 

$

331

 

 

$

1,253

 

 

$

744

 

 

$

2,285

 

For stock-based awards granted by the Company, stock-based compensation cost is measured at grant date based on the fair value of the award and is expensed over the requisite service period. No stock-based compensation was capitalized as internally developed software during the three and six months ended June 30, 2024, while $40 and $77 of stock-based compensation was capitalized as internally developed software during the three and six months ended June 30, 2023, respectively.

Stock Options

A summary of the Company's stock option activity is as follows:

 

 

Options Outstanding

 

 

 

Number of
Shares

 

 

Weighted Average
Exercise Price
Per Share

 

 

Weighted Average
Remaining
Contractual Term
(in Years)

 

 

Aggregate
Intrinsic Value

 

Outstanding, vested and exercisable at December 31, 2023

 

 

54

 

 

$

100.69

 

 

 

3.63

 

 

$

 

Forfeited and cancelled

 

 

(4

)

 

 

407.54

 

 

 

 

 

 

 

Outstanding, vested and exercisable at June 30, 2024

 

 

50

 

 

 

78.51

 

 

 

3.37

 

 

 

 

There were no grants or exercises of stock options during the six months ended June 30, 2024.

Compensation expense, net of forfeitures, is recognized ratably over the requisite service period. As of June 30, 2024, there was no unrecognized compensation expense related to stock options, as all of the stock options outstanding were fully vested.

RSUs

A summary of the Company's RSU activity is as follows:

 

 

RSUs Outstanding

 

 

 

Number of
Shares

 

 

Weighted Average
Grant Date Fair
Value Per Unit

 

Outstanding at December 31, 2023

 

 

288

 

 

$

8.88

 

Vested

 

 

(119

)

 

 

8.39

 

Cancelled and withheld to cover taxes

 

 

(51

)

 

 

8.54

 

Outstanding at June 30, 2024

 

 

118

 

 

$

9.54

 

As of June 30, 2024, there was $642 of unrecognized compensation expense related to RSUs, which is expected to be recognized over a weighted-average period of 1.0 years. The Company uses the fair market value of the underlying common stock on the dates of grant to determine the fair value of RSUs.

Employee Stock Purchase Plan

There was no activity during the three and six months ended June 30, 2024 under the Company's ESPP and there was no unrecognized compensation expense related to the Company's ESPP as of June 30, 2024.