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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash $ 13,536 $ 58,085
Receivables, net of allowance for doubtful accounts of $479 and $479 23,642 22,694
Inventories 310,671 456,087
Income tax receivable 7,254 7,416
Prepaid expenses and other 3,467 2,614
Total current assets 358,570 546,896
Property and equipment, net of accumulated depreciation of $54,759 and $46,098 273,733 265,726
Operating lease right-of-use assets 25,571 26,377
Intangible assets, net 74,442 80,546
Other assets 3,630 2,750
Deferred income tax asset 0 15,444
Total assets 735,946 937,739
Current liabilities:    
Accounts payable 13,543 15,144
Accrued expenses and other current liabilities 35,755 29,160
Floor plan notes payable, net of debt discount 316,551 446,783
Financing liability, current portion 2,548 2,473
Revolving line of credit, current portion 17,500 0
Long-term debt, current portion, net of debt discount 1,162 1,141
Operating lease liability, current portion 4,959 5,276
Total current liabilities 392,018 499,977
Long-term liabilities:    
Financing liability, non-current portion, net of debt discount 90,540 91,401
Revolving line of credit, non-current portion 23,500 49,500
Long term debt, non-current portion, net of debt discount 70,742 61,429
Operating lease liability, non-current portion 21,256 22,242
Deferred income tax liability 1,256 0
Warrant liabilities 5,706 0
Total liabilities 605,018 724,549
Commitments and contingencies - see Note 10
Series A Convertible Preferred Stock; 600,000 shares, designated, issued, and outstanding; liquidation preference of $60,000 62,363 56,193
Stockholders’ Equity    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 17,596,298 and 17,477,019 shares issued and 14,184,076 and 14,064,797 shares outstanding 0 0
Additional paid-in capital 163,406 165,988
Treasury stock, at cost, 3,412,222 and 3,412,222 shares (57,128) (57,128)
Retained (deficit) earnings (37,713) 48,137
Total stockholders’ equity 68,565 156,997
Total liabilities and stockholders’ equity 735,946 937,739
Nonrelated Party    
Current liabilities:    
Long-term debt, current portion, net of debt discount 736 741
Long-term liabilities:    
Long term debt, non-current portion, net of debt discount 27,590 28,075
Related Party    
Current liabilities:    
Long-term debt, current portion, net of debt discount 426 400
Long-term liabilities:    
Long term debt, non-current portion, net of debt discount $ 43,152 $ 33,354