v3.24.0.1
Equity Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Equity Compensation Plans [Abstract]  
Schedule of Fair Value of the Options Granted using the Black Scholes Method The following are the weighted average assumptions used in calculating the fair value of the total stock options granted in 2023, 2022 and 2021 using the Black-Scholes method:
   Year Ended December 31, 
   2023   2022   2021 
Weighted average grant date value  $0.22   $2.02   $8.71 
Risk free rate   4.48%   2.67%   0.58%
Dividend yield   
—
    
—
    
—
 
Expected volatility   44.98%   54.22%   52.43%
Expected term in years   2.58    3.45    3.55 
Schedule of Total Stock Option Activity The following table summarizes the Company’s total stock option activity for the year ended December 31, 2023:
   Options
(in thousands)
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term in
Years
   Intrinsic
Value $
(in thousands)
 
Options outstanding as of December 31, 2022   819   $8.68    2.3   $
        —
 
Granted   295    6.82    —    
—
 
Forfeited   (33)   16.20    —    
—
 
Expired   (218)   7.17    —    
—
 
Options outstanding as of December 31, 2023   863    8.13    2.2    
—
 
Schedule of Outstanding and Exercisable Stock Options Outstanding and exercisable stock options as of December 31, 2023 are as follows:
      Options Outstanding     Options Exercisable  
Exercise Prices     Number of
Options
Outstanding
(in thousands)
    Weighted
Average
Remaining Life
(Years)
    Number of
Options
Exercisable
(in thousands)
    Weighted
Average
Remaining Life
(Years)
    Intrinsic
Value
(in thousands)
 
$ 6.51       151       0.4       151       0.4     $     —  
  6.82       500       3.3       167       3.3       —  
  7.99       19       0.9       19       0.9       —  
  8.32       108       0.5       108       0.5       —  
  13.12       61       1.4       57       1.4       —  
  32.28       24       2.2       24       2.2       —  
          863       2.2       526       1.5     $ —  

 

Schedule of Unvested Stock Option Activity The following table summarizes the Company’s unvested stock option activity for the year ended December 31, 2023:
   Options
(in thousands)
   Weighted
Average
Grant Date
Fair Value
 
Nonvested options as of December 31, 2022   307   $2.84 
Granted   295    0.22 
Vested   (232)   2.55 
Forfeited   (33)   5.69 
Nonvested options as of December 31, 2023   337   $0.41 
Schedule of Weighted Average Grant Date Fair Value of the Awards with the Market Vesting Condition The Company determined the weighted average grant date fair value of these awards using a Monte Carlo Simulation of a Geometric Brownian Motion stock path model with the following weighted average assumptions:
   Year Ended December 31, 
   2023   2022   2021 
Trading price of common stock on measurement date  $2.72   $5.33   $24.88 
Risk free interest rate   4.29%   2.89%   0.43%
Expected life in years   2.7    2.9    2.7 
Expected volatility   89.9%   85.1%   77.0%
Expected dividend yield   
—
    
—
    
—
 

 

Schedule of Restricted Stock Unit Activity The following table summarizes the Company’s restricted stock unit activity for the year ended December 31, 2023:
   Options
(in thousands)
   Weighted
Average
Grant Date
Fair Value
 
Nonvested restricted stock units as of December 31, 2022   1,235   $5.47 
Granted   2,429    2.33 
Vested   (309)   6.32 
Forfeited   (298)   4.63 
Nonvested restricted stock units as of December 31, 2023   3,057   $2.97 
Schedule of Non-Cash Stock Compensation and Statement of Operations The table below summarizes the aggregate non-cash stock compensation recognized in the statement of operations for stock awards, employee stock options and the distribution by InnoHold of Paired Securities (in thousands).
   Years Ended December 31, 
   2023   2022   2021 
Cost of revenues  $285   $305   $303 
Marketing and sales   616    863    541 
General and administrative   3,730    2,033    2,472 
Research and development   244    165    50 
Total non-cash stock compensation  $4,875   $3,366   $3,366