Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Plan Activity

Summaries of the Company’s 2018 Stock Plan activity for the six months ended June 30, 2023 is presented below.

	Options Outstanding
	Number of Options			Weighted- Average Exercise Price ($ per share)		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
December 31, 2022		9,671		$	0.67		6.99	$	18,234
Granted		3,070		$	2.87
Exercised		(151	)	$	0.47
March 31, 2023		12,590		$	1.21		7.50	$	19,061
Exercised		(200	)	$	0.47
Forfeited		(631	)	$	4.15
June 30, 2023		11,759		$	1.07		5.78	$	32,807
Exercisable options as of June 30, 2023		8,348		$	0.56		4.45	$	27,620

During the three months ended June 30, 2023 and 2022, stock-based compensation expense of $369 and $113, respectively, was recognized in connection with the outstanding options. During the six months ended June 30, 2023 and 2022, stock-based compensation expense of $800 and $228, respectively, was recognized in connection with the outstanding options. As of June 30, 2023, there is $4,967 of unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 5.8 years.

Summary of Restricted Stock Units Activity

The table below summarizes the activity related to the RSUs.

	Restricted Stock Units
	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value (per share)
December 31, 2022		5,493		$	5.43
Granted		2,241		$	2.86
Vested or distributed		(751	)	$	6.06
Forfeited		(177	)	$	3.98
March 31, 2023		6,806		$	4.55
Granted		357		$	3.31
Vested or distributed		(654	)	$	4.97
Forfeited		(909	)	$	4.52
June 30, 2022		5,600		$	4.43

Summary of Fair value of Stock Option Grants

The fair value of stock option grants is estimated by the Company on the date of grant using the Black Scholes-Merton option pricing model with the following weighted-average assumptions for the six months ended June 30, 2023 and 2022. During the six months ended June 30, 2023 and 2022, there were 3,070 and 175 options granted, respectively. There were no options granted during the three months ended June 30, 2023 and 2022.

	For the six months ended June 30,
	2023			2022
Risk free interest		3.55	%		1.47	%
Dividend yield		0.00	%		0.00	%
Expected volatility		75.00	%		58.80	%
Expected life (years)		6.08			6.08

Summary of Stock-based Compensation Expense

The Company recorded stock-based compensation expense as follows.

	For the three months ended June 30,				For the six months ended June 30,
	2023		2022		2023		2022
Cost of revenue	$	253	$	-	$	504	$	-
Research and development		912		933		1,890		1,814
Sales and marketing		182		590		418		1,129
General and administrative		1,929		2,300		4,144		4,403
Total	$	3,276	$	3,823	$	6,956	$	7,346