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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Non-Cash Stock-Based Compensation Expenses
Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands):
Year Ended December 31,
20222021
Cost of sales$$
Sales and marketing1,101 901 
Research and development1,082 965 
General and administrative2,764 2,981 
Total non-cash stock compensation expense$4,949 $4,848 
Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted The assumptions used to compute the share-based compensation costs for the stock options granted during the year ended December 31, 2021 using the Black-Scholes option pricing model, were as follows:
Year Ended December 31,
2021
Weighted average grant date fair value of
   stock options
$5.94
Assumptions
Risk-free interest rate (weighted average)0.87 %
Expected dividend yield— 
Weighted average expected life (years)6.2
Volatility (weighted average)74.5 %
Forfeiture rate12.0 %
Summary of Outstanding Stock Options and Related Activity
A summary of the Company’s stock options outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2022 and 2021 and the activity during the years ended herein are as follows (in thousands except per share amounts):
SharesWeighted Avg. Exercise PriceWtd. Avg. Remaining Contractual Life (Yrs)Aggregate Intrinsic Value
Outstanding as of December 31, 2021194 $4.12 $218 
Exercised(9)$2.11 $12 
Forfeited(2)$4.82 $— 
Expired(44)$5.66 $— 
Outstanding as of December 31, 2022139 $3.75 5.1$
Vested and expected to vest at December 31, 2022137 $3.72 5.1$
Exercisable as of December 31, 2022117 $3.49 4.6$
Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period:
Offering Period EndedSeptember 30,
2022
March 31,
2022
September 30,
2021
March 31,
2021
Shares purchased for offering period10,901 6,019 5,360 4,668 
Fair value per share as of the beginning of the offering period$1.15 $1.61 $1.90 $1.25 
Assumptions
Risk-free interest rate (average)0.86 %0.05 %0.05 %0.12 %
Expected dividend yield— — — — 
Weighted average expected life (years)0.50.50.50.5
Volatility (average)32.5 %43.1 %44.6 %47.1 %
Summary of Outstanding Restricted Stock Awards and Related Activity
A summary of the Company’s restricted stock awards outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2022 and 2021, and the activity during years ended therein, are as follows (in thousands, except weighted average grant date fair value):
Number of sharesWeighted average grant date fair value
Unvested at December 31, 20201,702 $4.07 
Granted1,287 $7.02 
Vested(1,027)$4.47 
Canceled and forfeited(295)$5.60 
Unvested at December 31, 20211,667 $5.83 
Granted1,398 $3.76 
Vested(1,174)$4.87 
Canceled and forfeited(212)$6.06 
Unvested at December 31, 20221,679 $4.75