Redeemable Preferred Stock and Stockholders' Equity (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Equity [Abstract] |
|
| Summary of Warrant Activity |
The following table summarizes warrant activity (in thousands, except per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-
Average |
|
|
|
|
|
|
Exercise Price |
|
|
|
Shares |
|
|
Per Share |
|
Warrants outstanding at January 1, 2019 |
|
|
1,933 |
|
|
$ |
9.65 |
|
Granted or Issued |
|
|
150 |
|
|
$ |
2.22 |
|
Exercised |
|
|
— |
|
|
$ |
— |
|
Forfeited, cancelled, or expired |
|
|
— |
|
|
$ |
— |
|
Warrants outstanding at December 31, 2019 |
|
|
2,083 |
|
|
$ |
6.30 |
|
Granted or Issued |
|
|
55,864 |
|
|
$ |
0.42 |
|
Exercised |
|
|
(3,862 |
) |
|
$ |
0.40 |
|
Forfeited, cancelled, or expired |
|
|
(33 |
) |
|
$ |
20.00 |
|
Warrants outstanding at December 31, 2020 |
|
|
54,052 |
|
|
$ |
0.62 |
|
Granted or Issued |
|
|
— |
|
|
$ |
— |
|
Exercised |
|
|
(35,792 |
) |
|
$ |
0.43 |
|
Forfeited, cancelled, or expired |
|
|
(407 |
) |
|
$ |
10.00 |
|
Warrants outstanding at December 31, 2021 |
|
|
17,853 |
|
|
$ |
0.80 |
|
Warrants exercisable at December 31, 2021 |
|
|
17,853 |
|
|
$ |
0.80 |
|
Vested warrants expired during the 12 months ended
December 31, 2021 |
|
|
(407 |
) |
|
$ |
10.00 |
|
|
| Summary of Option Activity |
The following table summarizes option activity under the 2002 Plan and the 2018 Plan (in thousands, except per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
|
Weighted-
Average |
|
|
Average
Remaining |
|
|
Aggregate |
|
|
|
|
|
|
Exercise Price |
|
|
Contractual |
|
|
Intrinsic |
|
|
|
Shares |
|
|
Per Share |
|
|
Term (Years) |
|
|
Value(1) |
|
Options outstanding at January 1, 2019 |
|
|
1,623 |
|
|
$ |
6.54 |
|
|
|
|
|
|
|
Granted at fair market value |
|
|
90 |
|
|
$ |
1.74 |
|
|
|
|
|
|
|
Exercised |
|
|
(2 |
) |
|
$ |
2.10 |
|
|
|
|
|
|
|
Forfeited, cancelled, or expired |
|
|
(424 |
) |
|
$ |
9.73 |
|
|
|
|
|
|
|
Options outstanding at December 31, 2019 |
|
|
1,287 |
|
|
$ |
5.77 |
|
|
|
|
|
|
|
Granted at fair market value |
|
|
1,258 |
|
|
$ |
0.38 |
|
|
|
|
|
|
|
Exercised |
|
|
— |
|
|
$ |
— |
|
|
|
|
|
|
|
Forfeited, cancelled, or expired |
|
|
(147 |
) |
|
$ |
6.87 |
|
|
|
|
|
|
|
Options outstanding at December 31, 2020 |
|
|
2,398 |
|
|
$ |
2.96 |
|
|
7.2 |
|
|
$ |
53 |
|
Granted at fair market value |
|
|
70 |
|
|
$ |
0.80 |
|
|
|
|
|
|
|
Exercised |
|
|
(352 |
) |
|
$ |
0.38 |
|
|
|
|
|
|
|
Forfeited, cancelled, or expired |
|
|
(378 |
) |
|
$ |
7.17 |
|
|
|
|
|
|
|
Options outstanding at December 31, 2021 |
|
|
1,738 |
|
|
$ |
2.48 |
|
|
|
7.1 |
|
|
$ |
15 |
|
Options exercisable at December 31, 2021 |
|
|
1,613 |
|
|
$ |
2.60 |
|
|
|
7.0 |
|
|
$ |
14 |
|
Vested options expired during the twelve months
ended December 31, 2021 |
|
|
342 |
|
|
$ |
7.57 |
|
|
|
|
|
|
|
(1)
The intrinsic value calculation does not include negative values. This can occur when the fair market value on the reporting date is less than the exercise price of a grant.
|
| Additional Information of Option Activity |
The following table summarizes additional information for those options that are outstanding and exercisable as of December 31, 2021 (in thousands, except per share data):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
Exercisable |
|
|
|
|
|
|
Weighted- |
|
|
Weighted- |
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
Average |
|
|
Average |
|
|
|
|
|
Average |
|
|
|
Number |
|
|
Exercise Price |
|
|
Remaining |
|
|
Number |
|
|
Exercise Price |
|
Range of Exercise Prices |
|
of Shares |
|
|
Per Share |
|
|
Life (Years) |
|
|
of Shares |
|
|
Per Share |
|
$0.29 - $0.33 |
|
|
20 |
|
|
$ |
0.29 |
|
|
|
9.0 |
|
|
|
5 |
|
|
$ |
0.29 |
|
$0.34 - $0.48 |
|
|
870 |
|
|
$ |
0.38 |
|
|
|
8.4 |
|
|
|
870 |
|
|
$ |
0.38 |
|
$0.49 - $2.08 |
|
|
205 |
|
|
$ |
1.10 |
|
|
|
7.9 |
|
|
|
108 |
|
|
$ |
1.30 |
|
$2.09 - $4.03 |
|
|
327 |
|
|
$ |
2.39 |
|
|
|
6.1 |
|
|
|
314 |
|
|
$ |
2.40 |
|
$4.04 - $13.20 |
|
|
316 |
|
|
$ |
9.37 |
|
|
|
3.9 |
|
|
|
316 |
|
|
$ |
9.37 |
|
Total |
|
|
1,738 |
|
|
$ |
2.48 |
|
|
|
7.1 |
|
|
|
1,613 |
|
|
$ |
2.60 |
|
|
| Cash Proceeds, Along With Fair Value Disclosures Related to Grants, Exercises, and Vesting Options |
Cash proceeds, along with fair value disclosures related to grants, exercises, and vesting options, are as follows for the years ended December 31 (in thousands, except per share amounts):
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|
|
|
|
|
|
|
|
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|
Years Ended |
|
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
Proceeds from stock options exercised |
|
$ |
132 |
|
|
$ |
— |
|
|
$ |
4 |
|
Tax benefit related to stock options exercised(1) |
|
N/A |
|
|
N/A |
|
|
N/A |
|
Intrinsic value of stock options exercised(2) |
|
$ |
82 |
|
|
$ |
— |
|
|
$ |
— |
|
Weighted-average fair value of options granted per share |
|
$ |
0.66 |
|
|
$ |
0.29 |
|
|
$ |
1.51 |
|
Total fair value of shares vested during the year |
|
$ |
404 |
|
|
$ |
227 |
|
|
$ |
587 |
|
(1)Excess tax benefits received related to stock option exercises are presented as operating cash inflows. For the periods presented, the Company did not receive a tax benefit related to the exercise of stock options due to its net operating losses.
(2)
The intrinsic value of stock options exercised is the amount by which the market price of the stock on the date of exercise exceeded the exercise price of the stock on the date of grant.
|
| Summary of Restricted Stock Units Activity |
The following table summarize RSU activity under the 2002 and 2018 Plans (in thousands):
|
|
|
|
|
|
|
Shares |
|
Unvested RSUs at January 1, 2019 |
|
|
2,163 |
|
Granted |
|
|
2,432 |
|
Vested |
|
|
(604 |
) |
Forfeited or cancelled |
|
|
(427 |
) |
Unvested RSUs at December 31, 2019 |
|
|
3,564 |
|
Granted |
|
|
3,117 |
|
Vested |
|
|
(2,716 |
) |
Forfeited or cancelled |
|
|
(293 |
) |
Unvested RSUs at December 31, 2020 |
|
|
3,672 |
|
Granted |
|
|
3,098 |
|
Vested |
|
|
(3,817 |
) |
Forfeited or cancelled |
|
|
(601 |
) |
Unvested RSUs at December 31, 2021 |
|
|
2,352 |
|
|