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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense

The following tables present the Company's stock-based compensation for stock-settled awards by type (i.e., stock options and restricted stock units (“RSUs”)) granted under the Company's incentive plans, and rights to purchase shares of common stock issued under the Company's Employee Stock Purchase Plan (“ESPP”) and financial statement lines included in the accompanying unaudited condensed consolidated statement of operations and comprehensive loss for the three months ended March 31:

 

Three months ended March 31,

 

 

 

 

2023

 

 

2022

 

 

 

 

(in thousands)

 

 

Options

 

$

831

 

 

$

883

 

 

RSUs

 

 

1,066

 

 

 

511

 

 

ESPP

 

45

 

 

 

 

 

Total stock-based compensation expense

 

$

1,942

 

 

$

1,394

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

 

 

 

2023

 

 

2022

 

 

 

 

(in thousands)

 

 

Cost of sales

 

$

148

 

 

$

101

 

 

Selling, general and administrative

 

 

1,562

 

 

 

978

 

 

Research and development

 

 

232

 

 

 

315

 

 

Total stock-based compensation expense

 

$

1,942

 

 

$

1,394

 

 

Schedule of Unamortized Compensation Cost and Weighted Average Service Period of Unvested Outstanding Awards The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of March 31, 2023.

 

Unamortized Compensation Costs

 

 

Weighted Average Service Period

 

 

(in thousands)

 

 

(years)

Options

 

$

4,978

 

 

2.1

RSUs

 

 

13,456

 

 

3.2

Total unamortized compensation cost

 

$

18,434

 

 

 

Summary of Stock Option Activity under Incentive Plans

The following table summarizes stock option activity under the Company's incentive plans:

 

Number
of Shares

 

 

Weighted
Average
Exercise Price Per
Share

 

 

Weighted- Average Remaining Contractual Life

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

(in years)

 

(in thousands)

 

Options outstanding, December 31, 2022

 

 

2,756,368

 

 

$

2.83

 

 

 

 

 

 

Forfeited

 

 

(4,333

)

 

$

2.34

 

 

 

 

 

 

Expired

 

 

(3,541

)

 

$

2.34

 

 

 

 

 

 

Options outstanding, March 31, 2023

 

 

2,748,494

 

 

$

2.84

 

 

6.7

 

$

192

 

Options vested and exercisable, March 31, 2023

 

 

1,724,176

 

 

$

2.74

 

 

5.6

 

$

111

 

Vested and expected to vest after March 31, 2023

 

 

2,631,002

 

 

$

2.83

 

 

6.6

 

$

183

 

There were no options granted during the three months ended March 31, 2023.
Summary of Non Vested Stock Options

The following table summarizes the non-vested stock options that were outstanding as of March 31, 2023 and December 31, 2022:

 

Number of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Non-vested Options, December 31, 2022

 

 

1,118,088

 

 

$

6.23

 

Non-vested Options, March 31, 2023

 

 

1,024,318

 

 

$

6.13

 

Summary of RSU Activity under Incentive Plans

The following table summarizes RSU activity under the Company's incentive plans:

 

Number
of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

RSUs outstanding, December 31, 2022

 

 

2,858,649

 

 

$

4.49

 

Granted

 

 

2,988,302

 

 

$

1.65

 

Vested

 

 

(216,253

)

 

$

5.67

 

Forfeited

 

 

(32,169

)

 

$

5.28

 

RSUs outstanding, March 31, 2023

 

 

5,598,529

 

 

$

2.93