The Company maintains a long-term incentive plan, the Second Amended and Restated 2018 Equity Incentive Plan (the "2018 Equity Incentive Plan", for employees, non-employee members of its Board of Directors (the "Board"), and consultants. The 2018 Equity Incentive Plan allows the Company to grant equity-based compensation awards, including stock options, stock appreciation rights, performance share units, restricted stock units, restricted stock awards, common stock warrants, or a combination of awards (collectively, "share-based awards").

The Company accounts for share-based payments through the measurement and recognition of compensation expense for share-based awards made to employees, non-employee members of the Board, and consultants of the Company, including stock options and restricted stock units. The Company recorded share-based compensation expense of $0.3 million and $0.8 million in the three and six months ended June 30, 2025, respectively, and $0.7 million and $1.4 million in the three and six months ended June 30, 2024, respectively.

The Company issues restricted stock units to eligible employees, which are subject to forfeiture until the end of an applicable vesting period. The awards generally vest annually or biannually over three to five years following the date of grant, subject to the employee's continuing employment as of that date. Restricted stock units are valued using the market value on the grant date.


	Units	Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2024	1,403	$	2.57
Granted	375	$	1.27
Vested	(368)	$	2.72
Forfeited	(101)	$	2.34
Nonvested as of June 30, 2025	1,309	$	2.17

As of June 30, 2025, the Company had approximately $2.4 million of unrecognized share-based compensation related to restricted stock units, which is expected to be recognized over a weighted average period of approximately 2.4 years. During the six months ended June 30, 2024, 165 thousand restricted stock units were granted at a weighted average grant date fair value of $2.79.

During the six months ended June 30, 2025, the Board granted 90 thousand short-term, performance stock units with a weighted average grant date fair value of $0.91 to its named executive officers under the 2018 Equity Incentive Plan. The number of shares issuable as a result of the performance stock units vesting ranges from 0% and 125% and is determined based on Company-specific net sales targets to be achieved for fiscal year 2025 as well as service conditions.

Although no awards vest until the Company attains the performance conditions described above, compensation will be recorded based on an assessment of the probability of meeting the performance conditions. During the six months ended June 30, 2025, the Company concluded that the probability of attaining the performance conditions under the awards to be remote. Therefore, no expense was recognized related to the performance stock units. If the performance conditions are probable of being achieved, the Company will begin recognizing the associated non-cash, share-based compensation expense.


	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2024	16	$	4.63	0.36	$	2.56
Granted	—	—		—	—
Exercised	—	—		—	—
Forfeited or expired	(16)	4.63		—	2.56
Outstanding as of June 30, 2025	—	$	—	—	$	—
Vested and exercisable as of June 30, 2025	—	$	—	—	$	—