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Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2024
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 and nine months ended September 30:

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Options

 

$

233

 

 

$

645

 

 

$

880

 

 

$

2,233

 

RSUs

 

 

397

 

 

 

1,094

 

 

 

3,343

 

 

 

3,389

 

ESPP

 

 

 

 

45

 

 

 

 

 

163

 

Total stock-based compensation expense

 

$

630

 

 

$

1,784

 

 

$

4,223

 

 

$

5,785

 

 

 

 

Three months ended September 30,

 

 

 

2024

 

 

2023

 

 

 

Continuing operations

 

 

Discontinued operations

 

 

Total

 

 

Continuing operations

 

 

Discontinued operations

 

 

Total

 

 

 

(in thousands)

 

Cost of sales

 

$

14

 

 

$

 

 

$

14

 

 

$

44

 

 

$

10

 

 

$

54

 

Selling and marketing

 

 

47

 

 

 

 

 

 

47

 

 

 

550

 

 

 

6

 

 

 

556

 

General and administrative

 

 

539

 

 

 

 

 

 

539

 

 

 

1,010

 

 

 

19

 

 

 

1,029

 

Research and development

 

 

30

 

 

 

 

 

 

30

 

 

 

136

 

 

 

9

 

 

 

145

 

Total stock-based compensation expense

 

$

630

 

 

$

 

 

$

630

 

 

$

1,740

 

 

$

44

 

 

$

1,784

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30,

 

 

 

2024

 

 

2023

 

 

 

Continuing operations

 

 

Discontinued operations

 

 

Total

 

 

Continuing operations

 

 

Discontinued operations

 

 

Total

 

 

 

(in thousands)

 

Cost of sales

 

$

324

 

 

$

79

 

 

$

403

 

 

$

262

 

 

$

31

 

 

$

293

 

Selling and marketing

 

 

838

 

 

 

59

 

 

 

897

 

 

 

1,698

 

 

 

18

 

 

 

1,716

 

General and administrative

 

 

2,141

 

 

 

140

 

 

 

2,281

 

 

 

3,156

 

 

 

55

 

 

 

3,211

 

Research and development

 

551

 

 

91

 

 

 

642

 

 

 

538

 

 

 

27

 

 

 

565

 

Total stock-based compensation expense

 

$

3,854

 

 

$

369

 

 

$

4,223

 

 

$

5,654

 

 

$

131

 

 

$

5,785

 

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 September 30, 2024.

 

Unamortized Compensation Costs

 

 

Weighted Average Service Period

 

 

 

(in thousands)

 

 

(years)

 

Options

 

$

660

 

 

 

0.75

 

RSUs

 

 

2,978

 

 

 

3.28

 

Total unamortized compensation cost

 

$

3,638

 

 

 

 

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, 2023

 

 

11,786

 

 

$

571.27

 

 

6.3

 

$

 

Forfeited/Expired

 

 

(3,670

)

 

 

 

 

 

 

 

 

Options outstanding, September 30, 2024

 

 

8,116

 

 

$

592.24

 

 

5.2

 

$

 

Options vested and exercisable, September 30, 2024

 

 

7,600

 

 

$

559.60

 

 

5.1

 

$

 

Summary of Non Vested Stock Options

The following table summarizes the non-vested stock options that were outstanding as of September 30, 2024 and December 31, 2023:

 

Number of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Non-vested Options, December 31, 2023

 

 

2,217

 

 

$

1,045.01

 

Non-vested Options, September 30, 2024

 

 

505

 

 

$

1,736.21

 

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, 2023

 

 

16,593

 

 

$

517.03

 

Granted

 

 

29,194

 

 

$

7.98

 

Vested

 

 

(6,245

)

 

$

570.64

 

Forfeited

 

 

(4,120

)

 

$

502.49

 

RSUs outstanding, September 30, 2024

 

 

35,422

 

 

$

87.71