Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of stock option activity

The following table summarizes stock option activity and related information for the three months ended September 30, 2020 and 2019:

	Number of Options Outstanding	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (1) (in thousands)
Balance at July 1, 2020	2,454,687	$	4.74	6.33	$	—
Options exercised	(3,475)	$	3.80
Options canceled	(123,789)	$	5.91
Balance at September 30, 2020	2,327,423	$	4.68	6.16	$	167
Exercisable at September 30, 2020	2,211,723	$	4.74	6.08	$	111
Balance at July 1, 2019	2,342,440	$	4.84	7.16	$	—
Options granted	125,183	$	3.14
Options canceled	(13,811)	$	4.58
Balance at September 30, 2019	2,453,812	$	4.69	7.06	$	—
Exercisable at September 30, 2019	1,984,257	$	4.95	6.85	$	—

(1) Intrinsic value represents the excess of the fair value on the last trading day of the period, which was $4.00 as of September 30, 2020, over the exercise price, multiplied by the number of options.

The following table summarizes stock option activity and related information for the nine months ended September 30, 2020 and 2019:

	Number of Options Outstanding	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (1) (in thousands)
Balance at January 1, 2020	2,473,130	$	4.67	6.84	$	—
Options authorized	—	$	—
Options exercised	(6,821)	$	3.78
Options canceled	(138,886)	$	5.72
Balance at September 30, 2020	2,327,423	$	4.68	6.16	$	167
Exercisable at September 30, 2020	2,211,723	$	4.74	6.08	$	111
Balance at January 1, 2019	2,377,180	$	4.83	7.46	$	—
Options granted	183,109	$	3.14
Options canceled	(106,477)	$	4.34
Balance at September 30, 2019	2,453,812	$	4.69	7.06	$	—
Exercisable at September 30, 2019	1,984,257	$	4.95	6.85	$	—

(1) Intrinsic value represents the excess of the fair value on the last trading day of the period, which was $4.00 as of September 30, 2020, over the exercise price, multiplied by the number of options.

Schedule of unvested restricted stock units

The following table summarizes RSA activity and related information for the three and nine months ended September 30, 2020:

	September 30, 2020
	Three Months Ended			Nine Months Ended
	Number of Shares	Weighted-Average Grant Date Fair Value Per Share		Number of Shares	Weighted-Average Grant Date Fair Value Per Share
Balance at beginning of period	—	$	—	—	$	—
Granted	123,501	$	4.00	123,501	$	4.00
Vested	(86,450)	$	4.00	(86,450)	$	4.00
Balance at end of period	37,051	$	4.00	37,051	$	4.00

The following table summarizes RSU activity and related information for the three and nine months ended September 30, 2020:

	September 30, 2020
	Three Months Ended			Nine Months Ended
	Number of Shares	Weighted-Average Grant Date Fair Value Per Share		Number of Shares	Weighted-Average Grant Date Fair Value Per Share
Balance at beginning of period	—	$	—	—	$	—
Granted	816,180	$	4.00	816,180	$	4.00
Vested	(4,000)	$	4.00	(4,000)	$	4.00
Balance at end of period	812,180	$	4.00	812,180	$	4.00

Stock-based compensation expense

The accompanying condensed consolidated statement of operations and comprehensive loss includes stock-based compensation expense as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cost of revenue	$	17	$	24	$	43	$	44
Research and development	62		60		148		146
Sales and marketing	11		8		23		24
General and administrative	494		67		606		221
Total	$	584	$	159	$	820	$	435

Unrecognized stock-based compensation

Unrecognized stock-based compensation expense was as follows (in thousands):

	As of September 30, 2020			As of September 30, 2019
	Unrecognized Expense		Average Expected Recognition Period	Unrecognized Expense		Average Expected Recognition Period
Stock options	$	113	0.87 years	$	573	1.34 years
Restricted stock	$	3,297	2.64 years	—		—
Total	$	3,410	2.43 years	$	573	1.34 years