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

Stock-based compensation expense included in the consolidated statement of operations and comprehensive loss was as follows:

 

 

Year Ended December 31,

 

 

2023

 

 

2022

 

Cost of revenue

 

$

32

 

 

$

 

Selling, general, and administrative

 

 

8,198

 

 

 

400

 

Research and development

 

 

127

 

 

 

37

 

Total stock-based compensation expense

 

$

8,357

 

 

$

437

 

Summary of Option Activity Under the Plan

The following tables summarizes the option activity under the 2010 Plan, 2020 Plan, and the 2023 Plan during the year ended December 31, 2023:

 

 

Number of
Options

 

 

Weighted
Average Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

(per option)

 

 

(in years)

 

 

(in thousands)

 

Outstanding—January 1, 2023

 

 

4,301,968

 

 

$

2.35

 

 

 

7.7

 

 

$

9,437

 

Granted

 

 

257,683

 

 

$

5.41

 

 

 

 

 

 

 

Cancellations and forfeitures

 

 

(375,051

)

 

$

2.00

 

 

 

 

 

 

 

Exercised

 

 

(298,562

)

 

$

1.15

 

 

 

 

 

 

 

Outstanding— December 31, 2023

 

 

3,886,038

 

 

$

2.67

 

 

 

6.9

 

 

$

5,565

 

Exercisable at December 31, 2023

 

 

2,735,884

 

 

$

2.23

 

 

 

6.2

 

 

$

4,812

 

Schedule of Assumptions Used in Black-Scholes Option Pricing Model

The assumptions used in the Black-Scholes option-pricing model are as follows:

 

 

Year Ended December 31,

 

 

2023

 

 

2022

 

Expected volatility

 

 

85.8

%

 

 

63

%

Risk-free interest rate

 

 

4.5

%

 

 

3.56

%

Expected dividend yield

 

 

%

 

 

%

Expected term (in years)

 

5.8

 

 

 

5.8

 

 

Summary of Restricted Stock Unit Activity Under the Plan The following table summarizes the restricted stock unit activity under the 2020 Plan and 2023 Plan during the year ended December 31, 2023:

 

 

Number of RSUs

 

 

Weighted
Average Grant
Date Fair Value

 

 

 

 

 

(per share)

 

Outstanding—January 1, 2023

 

 

1,415,104

 

 

$

4.51

 

Granted

 

 

226,175

 

 

 

4.32

 

Cancellations and forfeitures

 

 

(79,232

)

 

 

4.51

 

Vested

 

 

(918,412

)

 

 

4.51

 

Outstanding—December 31, 2023

 

 

643,635

 

 

 

4.45