Segments and Geographic Information

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segments and Geographic Information

Segments and Geographic Information

Segment Information

Operating segments are defined as components of an entity for which separate financial information is available and reviewed by the chief operating decision maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. Specifically, our CODM uses consolidated net loss as the measure of segment profit or loss for evaluating performance and allocating resources through comparison of actual amounts against budgeted and prior period amounts. The measure of segment assets is reported on the consolidated balance sheets as “Total assets”. Therefore, we operate as one operating and reportable segment as our CODM reviews consolidated financial information in managing the business.

The following table sets forth significant expense categories and other specified amounts included in consolidated net loss that are otherwise regularly provided to the CODM for the years ended December 31, 2025 and 2024:

	Year Ended December 31,
	2025		2024
Net revenue	$	152,466	$	189,757
Cost of revenue	89,915		108,693
Selling, general, and administrative expense1	35,623		48,499
Payroll and benefits expense2	36,180		54,448
Marketing expense	45,238		41,638
Other segment expenses—net3	22,793		29,797
Segment and consolidated net loss	$	(77,283)	$	(93,318)

Geographic Information

The following table presents long-lived assets by geographic area, comprising property and equipment - net, definite-lived intangible assets, and operating lease right-of-use assets:

(in thousands)	December 31, 2025		December 31, 2024
Long-lived assets:
United States	$	22,623	$	51,065
International	1,020		4,884
Total long-lived assets	$	23,643	$	55,949

The following table disaggregates our net revenue by geographic area, where no individual foreign country contributed in excess of 10% of net revenue for the years ended December 31, 2025 and 2024. We recognized the following net

revenue by geographic area based on the primary shipping address of the customer for digital or third-party sales, and based on the physical store location for retail store sales:

(in thousands)	December 31, 2025		December 31, 2024
Net revenue:
United States	$	118,621	$	143,870
International	33,845		45,887
Total net revenue	$	152,466	$	189,757