Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Option Valuation Techniques |
The following inputs were used to calculate the fair value of the options as of the date of each grant:
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Years ended December 31, |
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2023 |
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2022 |
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| Expected volatility |
N/A |
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36.7 - 36.9% |
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| Expected term (years) |
N/A |
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4.69 - 4.94 |
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| Risk-free interest rate |
N/A |
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4.03% - 4.06% |
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| Expected dividends |
0.00% |
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0.00% |
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| Schedule of Option Outstanding |
The following table summarizes options outstanding, as well as activity for the period presented:
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Shares |
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Weighted
Average
Exercise
Price |
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Aggregate
Intrinsic
Value |
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| Outstanding as of December 31, 2022 |
3,506,184 |
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$ |
1.87 |
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$ |
6,554,541 |
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| Exercised |
(227,837) |
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$ |
1.85 |
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| Forfeited |
(92,040) |
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$ |
1.98 |
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| Expired |
(175,060) |
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$ |
2.18 |
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| Outstanding as of December 31, 2023 |
3,011,247 |
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$ |
1.85 |
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$ |
1.85 |
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$ |
9,717 |
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| Exercisable as of December 31, 2023 |
2,259,124 |
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$ |
1.74 |
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$ |
9,717 |
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| Schedule of Outstanding and Exercisable Options |
The following tabulation summarizes certain information related to outstanding and exercisable options at December 31, 2023:
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Options Outstanding |
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Options Exercisable |
| Range of Exercise Prices |
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As of
December 31,
2023 |
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Weighted
Average
Remaining
Contractual
Life In
Years |
|
Weighted
Average
Exercise
Price |
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As of
December 31,
2023 |
|
Weighted
Average
Exercise
Price |
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| $ |
0.63 |
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$ |
0.63 |
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197,103 |
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1.86 |
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$ |
0.63 |
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197,103 |
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$ |
0.63 |
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| $ |
0.70 |
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$ |
0.70 |
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71,034 |
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2.49 |
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$ |
0.70 |
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71,034 |
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$ |
0.70 |
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| $ |
1.13 |
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$ |
1.13 |
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237,963 |
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3.31 |
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$ |
1.13 |
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237,963 |
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$ |
1.13 |
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| $ |
1.46 |
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$ |
1.46 |
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235,833 |
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6.67 |
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$ |
1.46 |
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191,613 |
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$ |
1.46 |
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| $ |
1.94 |
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$ |
1.94 |
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1,586,707 |
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4.74 |
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$ |
1.94 |
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1,225,479 |
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$ |
1.94 |
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| $ |
2.50 |
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$ |
2.50 |
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682,607 |
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1.93 |
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$ |
2.50 |
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335,932 |
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$ |
2.50 |
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| $ |
0.63 |
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$ |
2.50 |
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3,011,247 |
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3.90 |
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$ |
1.85 |
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2,259,124 |
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$ |
1.74 |
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| Schedule of Restricted and Performance Stock Unit Activity |
The following is a summary of our restricted and performance stock unit activity for 2023:
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Shares |
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Weighted
Average
Grant Date
Fair Value |
| Outstanding as of December 31, 2022 |
3,134,677 |
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$ |
4.73 |
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| Granted |
1,185,666 |
|
1.97 |
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| Vested |
(501,437) |
|
4.31 |
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| Forfeited |
(1,446,933) |
|
4.60 |
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| Outstanding as of December 31, 2023 |
2,371,973 |
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$ |
3.51 |
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