Annual report pursuant to Section 13 and 15(d)

Stockholders??? Equity (Tables)

v3.23.1
Stockholders’ Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of Stock Options Activity
The following table summarizes stock options activity during Fiscal 2022 and 2021 (in thousands, except per share data).
Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (in years) Total Intrinsic Value
Outstanding as of January 1, 2021 3,795 2.21  3.4 $ 26,441 
Granted 1,825 7.29  6.2 — 
Forfeited (505) 8.50  0 — 
Expired (5) 1.39  0 — 
Outstanding as of December 31, 2021 5,110 $ 3.27  3.4 $ 20,820 
Granted 1,095 9.92  7 — 
Exercised (1,833) 1.29  0 — 
Forfeited (420) 1.56  0 — 
Outstanding as of December 31, 2022 3,952 $ 5.35  4 $ 20,379 
Options vested and exercisable 2,961 $ 4.06  3.2 $ 17,257 
Summary of Weighted Average Assumptions Used in Determining Fair Value of Options
The following table summarizes weighted average assumptions used in determining the fair value of the stock options at the date of grant during Fiscal 2022 and 2021:
For the years ended
December 31,
2022 2021
Exercise price $ 10.03  $ 7.29 
Expected term (years) 4.5 4
Expected stock price volatility 79  % 79  %
Risk-free rate of interest 2.5% 0.8  %
Expected dividend yield (per share) % %
Schedule of Warrant Activity
The following table summarizes warrant activities during Fiscal 2022 and 2021 (in thousands, except per share data):
Number of Shares Weighted Average
Exercise
Price
Weighted Average
Remaining Contractual
Life
(in years)
Outstanding as of January 1, 2021 450 $ 3.22  2.7
Warrants granted 455 12.83  3
Cashless exercise (50) 5.00  0
Outstanding as of December 31, 2021 855 $ 8.23  1.9
Warrants granted —  —  0
Outstanding as of December 31, 2022 855 $ 8.23  1.9
Warrants vested and exercisable 855 $ 8.23  1.9
Summary of Weighted Average Assumptions Used in Determining Fair Value of Warrants
The following table summarizes weighted average assumptions used in determining the fair value of the warrants at the date of grant during Fiscal 2022 and Fiscal 2021:
  For the years ended
December 31,
  2022 2021
Exercise price $ —  $ 12.83 
Expected term (years) 0 3.0
Expected stock price volatility 0% 81%
Risk-free rate of interest 0.0% 0.2  %
Expected dividend yield (per share) % %