Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

v3.23.3
Equity Incentive Plan (Tables)
 9 Months Ended
Sep. 30, 2023
Equity Incentive Plan [Abstract]  
Schedule of Share-Based Compensation Expense The Company recorded share-based compensation expense in the following expense categories in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2023 and 2022:
Stock Options & SARs   Three Months Ended
September 30,		     Nine months ended
September 30,		  
(in thousands)   2023     2022     2023     2022  
General and administrative   $ 271     $ 320     $ 783     $ 974  
Sales and marketing     57       50       179       120  
Research and development     122       85       306       231  
Cost of revenues     33       22       86       67  
    $ 483     $ 477     $ 1,354     $ 1,392  
RSUs   Three Months Ended
September 30,		     Nine months ended
September 30,		  
(in thousands)   2023     2022     2023     2022  
General and administrative   $ 154     $
—
     $ 381     $
—
  
    $ 154     $
—
     $ 381     $
—
  
Schedule of Weighted Average Assumptions For the nine months ended September 30, 2023 and 2022, the fair value of options granted was estimated using a Black-Scholes option pricing model with the following weighted average assumptions:
    Nine Months Ended
September 30,		  
    2023     2022  
Expected term (in years)     5.9       5.9  
Expected volatility     57.1 %     54.6 %
Risk-free rate     3.9 %     2.0 %
Dividend rate            
—
  

 
Schedule of Stock Option Activity The following table summarizes stock option activity under the 2020 Plan for the nine months ended September 30, 2023:
Stock Option & SARs   Number of
Shares under
Equity Plan		     Weighted-
Average
Exercise
Price per Option		     Weighted-
Average
Remaining
Contractual
Life (in years)		  
Outstanding at December 31, 2022     8,234,823     $ 1.82       7.7  
Granted     1,737,896     $ 2.07          
Exercised     (290,686 )   $ 1.33          
Forfeited and expired     (170,374 )   $ 1.98          
Outstanding at September 30, 2023     9,511,659     $ 1.92       7.4  
Exercisable at September 30, 2023     5,832,609     $ 1.59       6.7  
Vested and expected to vest at September 30, 2023     9,511,659     $ 1.92       7.4  
RSUs   Number of
Shares under
Equity Plan		     Weighted
Average
Grant Date
Fair Value		  
Outstanding at December 31, 2022     263,155     $ 1.90  
Granted     203,988     $ 4.45  

Vested

     (263,155 )   $ 1.90  
Forfeited and expired     (7,300 )   $ 4.15  
Outstanding at September 30, 2023     196,688     $ 4.47