XML 29 R11.htm IDEA: XBRL DOCUMENT v3.25.0.1
Balance Sheet Components
 12 Months Ended
Dec. 31, 2024
Supplemental Balance Sheet Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consisted of the following as of December 31, 2024 and 2023:
(in thousands)December 31,
2024		December 31,
2023
Finished goods$47,739 $64,281 
Reserve to reduce inventories to net realizable value(3,618)(6,518)
Total inventory$44,121 $57,763 
Property and Equipment - Net
Property and equipment consisted of the following as of December 31, 2024 and 2023:
(in thousands)December 31,
2024		December 31,
2023
Leasehold improvements$19,364 $40,008 
Furniture and fixtures15,217 23,756 
Internal-use software25,082 29,367 
Machinery and equipment640 975 
Computers and equipment2,169 2,836 
Total property and equipment - gross62,472 96,942 
Less: accumulated depreciation and amortization(44,647)(70,857)
Total property and equipment - net$17,825 $26,085 
Depreciation and amortization expense for the years ended December 31, 2024 and 2023 was $12.4 million and $21.1 million, respectively, recognized as selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss.
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following as of December 31, 2024 and 2023:
(in thousands)December 31,
2024		December 31,
2023
Prepaid expenses$4,910 $5,248 
Inventory returns receivable798 927 
Security deposits150 458 
Tax receivable5,461 6,865 
Other receivables1,366 2,284 
Restricted cash851 641 
Total prepaid expenses and other current assets
$13,536 $16,423 
Other Assets
Other assets consisted of the following as of December 31, 2024 and 2023:
(in thousands)December 31,
2024		December 31,
2023
Investment in equity securities$200 $2,000 
Security deposits1,609 3,564 
Intangible assets42 82 
Debt issuance costs— 8 
Deferred tax assets563 1,475 
Total other assets$2,414 $7,129 
Investments in equity securities
On November 20, 2020, we entered into an agreement to make a minority equity investment of $2.0 million in Natural Fiber Welding, Inc. in exchange for 201,207 shares of Series A-3 Preferred Stock. Our investment is carried at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Throughout the year, we assess whether impairment indicators exist to trigger an impairment analysis. In the fourth quarter of 2024, we recorded an impairment charge of $1.8 million in the consolidated
statements of operations and comprehensive loss for the year ended December 31, 2024. There were no impairment charges or observable price changes for the year ended December 31, 2023.
On November 22, 2021, we made a $0.3 million investment in NoHo ESG, Inc. via a simple agreement for future equity (“SAFE”). Our investment was carried at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Throughout the year, we assess whether impairment indicators exist to trigger the performance of an impairment analysis. In April 2023, Noho ESG was dissolved. In accordance with the provisions of the SAFE, we were entitled to receive the entire amount of our investment. However, as a result of a shortfall of assets, we received a pro rata share of remaining assets, which included approximately $0.2 million in cash and rights to their intellectual property. Therefore, we recorded a realized loss on our investment of $0.1 million for the year ended December 31, 2023.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following as of December 31, 2024 and 2023:
(in thousands)December 31,
2024		December 31,
2023
Sales-refund reserve$2,259 $3,370 
Taxes payable1,092 1,996 
Employee-related liabilities3,857 4,174 
Accrued expenses11,613 13,447 
Total accrued expenses and other current liabilities$18,821 $22,987