v3.22.2.2
Stockholders' Equity (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Summary of Stock-Based Compensation Expense Recognized
The table below shows stock-based compensation expense recognized for both the 2008 and 2016 Plans for the three and nine months ended September 30, 2022 and 2021:
 
 
 
Three Months Ended
September 30,
 
 
Nine Months Ended
September 30,
 
 
 
    2022    
 
 
    2021    
 
 
    2022    
 
 
    2021    
 
Cost of revenue
   $ 125      $ 86  
 
$
357
 
 
$
250
 
Research and development
     6        7  
 
 
 
20
 
 
 
 
11
 
Selling, general and administrative
     646        230  
 
 
1,746
 
 
 
441
 
    
 
 
    
 
 
 
 
 
 
 
 
 
 
 
Total stock-based compensation expense
   $ 777      $ 323  
 
$

2,123
 
 
$
 
702
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

The table below shows stock-based compensation expense recognized from both the 2008 Plan and 2016 Plan in the statements of operations for the years ended December 31:
 
    
2021
    
2020
 
Cost of revenues
   $ 693      $ 27  
Research and development
     233        7  
Sales, general and administrative
     1,547        48  
    
 
 
    
 
 
 
     $ 2,473      $ 82  
    
 
 
    
 
 
 
Summary of Weighted-Average Assumptions for Options Granted  
The weighted-average assumptions for options granted to calculate the grant date fair value of grants issued under the 2008 Plan were as follows for the years ended December 31:
 
    
2021
   
2020
 
Dividend yield
     —         —    
Expected volatility
     52.18 %      50.27 % 
Expected term (in years)
     5.01       5.75  
Risk-free rate
     1.19 %      0.14 % 
The weighted-average assumptions for options granted to calculate the grant date fair value of grants issued under the 2016 Plan were as follows for the year ended December 31, 2021:
    
2021
 
Dividend yield
     —    
Expected volatility
     51.75 % 
Expected term (in years)
     5.92  
Risk-free rate
     1.07 % 
2008 Stock Plan [Member]    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Summary of Option Activity   A summary of option activity under the 2008 Plan for the years ended December 31, 2021 and 2020 and is as follows:
 
    
Shares
Available
for Grant
   
Outstanding
Stock
Options
   
Weighted-
Average
Exercise Price
Per Share
    
Weighted-
Average
Remaining
Contractual
Life (Years)
    
Average
Intrinsic
Value
 
Balance as of January 1, 2020
     1,927,978       8,558,849     $ 0.48        3.82      $ 11,137  
Options granted
     (1,393,713 )      1,393,713       1.73        —          —    
Options exercised
     —         (3,000 )      0.03        —          1  
Options expired
     1,475,713       (1,475,713 )      0.10        —          —    
    
 
 
   
 
 
                           
Balance as of December 31, 2020
     2,009,978       8,473,849       0.75        4.52        14,068  
    
 
 
   
 
 
   
 
 
    
 
 
    
 
 
 
Options granted
     (3,609,610 )      3,609,610       2.43        —          —    
Options exercised
     —         (51,291 )      0.28        —          28  
Options expired
     1,975,178       (1,975,178 )      0.28        —          —    
    
 
 
   
 
 
                           
Balance as of December 31, 2021
     375,546       10,056,990     $ 1.49        6.53      $ 10,995  
    
 
 
   
 
 
   
 
 
    
 
 
    
 
 
 
Options vested and exercisable as of December 31, 2021
             9,327,678     $ 1.46        6.35      $ 10,401  
            
 
 
   
 
 
    
 
 
    
 
 
 
Options vested and expected to vest as of December 31, 2021
             10,056,990     $ 1.49        6.53      $ 10,995  
            
 
 
   
 
 
    
 
 
    
 
 
 
2016 Equity Incentive Plan [Member]    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Summary of Option Activity  
A summary of option activity under the 2016 Plan for the years ended December 31, 2021 and 2020 is as follows:
 
    
Shares
Available
for Grant
   
Outstanding
Stock
Options
   
Weighted-
Average
Exercise Price
Per Share
    
Weighted-
Average
Remaining
Contractual
Life (Years)
    
Average
Intrinsic
Value
 
Balance as of January 1, 2020
     1,124,473       6,000,484     $ 0.10        4.90      $ 2,104  
Options granted
     —         —         —          —          —    
Options exercised
     —         (72,795 )      0.05        —          29  
Options expired
     196,544       (196,544 )      0.35        —          —    
    
 
 
   
 
 
                           
Balance as of December 31, 2020
     1,321,017       5,731,145       0.09        3.79        9,654  
    
 
 
   
 
 
   
 
 
    
 
 
    
 
 
 
Shares Authorized
     9,099,380       —         —          —          —    
Options granted
     (4,707,235 )     4,707,235       1.77        —          —    
Options exercised
     —         (29,118 )     0.05        —          54  
Options expired
     36,397       (36,397 )     0.21        —          —    
    
 
 
   
 
 
                           
Balance as of December 31, 2021
     5,749,559       10,372,865     $ 0.85        5.86      $ 16,208  
    
 
 
   
 
 
   
 
 
    
 
 
    
 
 
 
Options vested and exercisable as of December 31, 2021
             6,348,921     $ 0.28        3.56      $ 13,542  
            
 
 
   
 
 
    
 
 
    
 
 
 
Options vested and expected to vest as of December 31,
2021
             10,372,865     $ 0.85        5.86      $ 16,208