Equity Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Additional Information on Stock Option Grants And Vesting

The following table summarizes additional information on stock option grants and vesting (in thousands):

	2019 Plan
	Nine Months Ended September 30, 2022		Nine Months Ended September 30, 2021
Total fair value of stock options granted	$	2,898	$	2,293
Total fair value of options vested		944		369

Schedule of Black Scholes model for the Private Warrants

To estimate the fair value of the Private Warrants as of December 31, 2021 and September 30, 2022, the Company used a Black Scholes closed form model, which is a Level 3 fair value measurement. Significant inputs used in the Black Scholes model for the Private Warrants were as follows:

	December 31, 2021 & September 30, 2022
Expected volatility		27.00	%
Expected term (in years)		2.94
Risk free interest rate		0.96	%
Dividend yield		0.00	%
Exercise Price	$	11.50
Fair value of Common Stock	$	6.80

The following table summarizes the assumptions used in the valuation models to determine the fair value of awards granted to employees and non-employee directors under the 2019 Plan:

	Nine Months Ended September 30, 2022		Nine Months Ended September 30, 2021
Expected volatility	42.78% - 42.90%		44.06% - 44.61%
Expected term (in years)		6.00		6.00
Dividend yield	0.00%		0.00%
Risk-free interest rate	1.62% - 2.71%		0.70% - 1.00%

Stock Based Compensation Expense Included In Condensed Consolidated Statements of Comprehensive Loss

Stock-based compensation expense is included in the Company’s Condensed Consolidated Statements of Comprehensive Loss within the following line items (in thousands):

	Three Months Ended September 30, 2022		Three Months Ended September 30, 2021		Nine Months Ended September 30, 2022		Nine Months Ended September 30, 2021
Cost of revenues	$	396	$	340	$	1,158	$	1,030
General and administrative		556		394		1,475		1,200
Research and development		159		73		396		209
Sales and marketing		185		195		626		559
Total	$	1,296	$	1,002	$	3,655	$	2,998

Restricted Stock Units [Member]

Schedule of RSUs Activity Under 2019 Plan

The following table summarizes the Company’s RSU activity for performance-based RSUs awarded to employees and for time-based RSUs granted to non-employee directors under the 2019 Plan:

Description	RSUs Outstanding
Balance at December 31, 2021		1,513,892
Granted		576,889
Vested - non-employee director awards		(106,991	)
Forfeited		(56,312	)
Expired		—
Balance at September 30, 2022		1,927,478

2019 Plan [Member]

Schedule of Stock Option Activity Under 2019 Plan

The following table summarizes the Company’s stock option activity under the 2019 Plan:

Description	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (1)
Options outstanding, December 31, 2021		5,093,682		$	8.34		8.4	$	24
Granted		1,135,850			5.99
Exercised		—			—
Forfeited		(189,275	)		7.56
Expired		(111,009	)		8.20
Options outstanding, September 30, 2022		5,929,248		$	7.91		7.86	$	—
Options vested and exercisable, September 30, 2022		2,866,407		$	8.42		7.30	$	—
Options vested and expected to vest, September 30, 2022		5,929,248		$	7.91		7.86	$	—

(1)Aggregate intrinsic value (in thousands) represents the difference between the estimated fair value of the underlying Common Stock and the exercise price of outstanding in-the-money options.