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NOTE
6 — Stock-Based Compensation
Stock-based
compensation expense is as follows:
Schedule of Stock Based Compensation Expense
| |
|
2025 |
|
|
2024 |
|
| |
|
Three Months Ended |
|
| |
|
March 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Cost of revenues |
|
$ |
2 |
|
|
$ |
12 |
|
| Research and development |
|
|
2 |
|
|
|
7 |
|
| Sales and marketing |
|
|
65 |
|
|
|
86 |
|
| General and administrative |
|
|
221 |
|
|
|
219 |
|
| Stock-based compensation
expenses |
|
$ |
290 |
|
|
$ |
324 |
|
Stock-based
compensation in Cost of Revenues relates to employees who focus on supply chain management.
Stock
Options
Stock
option activity for the three months ended March 31, 2025, is set forth in the table below:
Summary of Stock Option Activity
| |
|
Options |
|
|
Weighted average exercise price per share |
|
|
Weighted average remaining contractual life (in years) |
|
|
Aggregate
Intrinsic Value* |
|
| Outstanding at January 1, 2025 |
|
|
755,494 |
|
|
$ |
6.48 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
| Forfeited and Expired |
|
|
(35,319 |
) |
|
|
4.69 |
|
|
|
|
|
|
|
|
|
| Outstanding at March 31, 2025 |
|
|
720,175 |
|
|
$ |
6.57 |
|
|
|
8.00 |
|
|
$ |
— |
|
| Vested and Expected to Vest at March 31, 2025 |
|
|
720,175 |
|
|
$ |
6.57 |
|
|
|
8.00 |
|
|
$ |
— |
|
| Exercisable at March 31, 2025 |
|
|
360,950 |
|
|
$ |
7.83 |
|
|
|
7.53 |
|
|
$ |
— |
|
| * |
The
intrinsic value is calculated as the difference between the exercise price and the fair value of the common stock on the balance
sheet date. |
As
of March 31, 2025, there was approximately $1,262 of unamortized stock-based compensation cost related to unvested stock options, which
is expected to be recognized over a weighted average period of 1.63 years.
Restricted
Stock Units
Restricted
Stock Unit (“RSU”) activity for the three months ended March 31, 2025, is set forth in the table below:
Schedule of Outstanding Restricted Stock Units
| |
|
RSUs |
|
| Outstanding at January 1, 2025 |
|
|
67,962 |
|
| Granted |
|
|
555,845 |
|
| Released |
|
|
(2,149 |
) |
| Forfeited |
|
|
— |
|
| Outstanding at March 31, 2025 |
|
|
621,658 |
|
As
of March 31, 2025, there was approximately $1,255 of unamortized stock-based compensation cost related to unvested RSUs, which is expected
to be recognized over a weighted average period of 0.31 years. Approximately $806 of this unamortized stock-based compensation cost was
included in accrued liabilities as of December 31, 2024 and this liability will be released as the related stock-based compensation is
recognized.
Additional
RSU grants for shares of the Company’s common stock were issued after March 31, 2025, as well as accelerated vesting for all outstanding
RSUs. See Note 11, Subsequent Events.
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