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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Net Revenue Disaggregated by Sales Channel and Geographic Region

Net Revenue by Category. The following table sets forth the Company’s net revenue disaggregated by sales channel and geographic region based on the billing addresses of its customers:

 

 

 

Three Months Ended March 31, 2020

 

 

 

(in thousands)

 

 

 

Direct

 

 

Wholesale

 

 

Managed PaaS

 

 

Total

 

North America

 

$

25,173

 

 

$

59

 

 

$

361

 

 

$

25,593

 

Other

 

 

35

 

 

 

 

 

 

 

 

 

35

 

Total net revenue

 

$

25,208

 

 

$

59

 

 

$

361

 

 

$

25,628

 

 

 

 

Three Months Ended March 31, 2021

 

 

 

(in thousands)

 

 

 

Direct

 

 

Wholesale

 

 

Managed PaaS

 

 

Total

 

North America

 

$

46,142

 

 

$

1,802

 

 

$

182

 

 

$

48,126

 

Other

 

 

10

 

 

 

 

 

 

 

 

 

10

 

Total net revenue

 

$

46,152

 

 

$

1,802

 

 

$

182

 

 

$

48,136

 

 

 

Net Revenue Disaggregated by Product Categories

Net Revenue by Product Categories. The following table sets forth the Company’s net revenue disaggregated by product categories:

 

 

 

Three Months Ended March 31,

 

 

 

2020

 

 

2021

 

 

 

(in thousands)

 

Heating, cooling and air quality

 

$

9,877

 

 

$

6,138

 

Kitchen appliances

 

 

7,025

 

 

 

12,150

 

Health and beauty

 

 

4,430

 

 

 

3,642

 

Personal protective equipment

 

 

 

 

 

1,154

 

Cookware, kitchen tools and gadgets

 

 

994

 

 

 

6,098

 

Home office

 

 

498

 

 

 

809

 

Housewares

 

 

1,412

 

 

 

7,182

 

Essential oils and related accessories

 

 

 

 

7,353

 

Other

 

 

1,031

 

 

 

3,428

 

Total net product revenue

 

 

25,267

 

 

 

47,954

 

PaaS

 

 

361

 

 

 

182

 

Total net revenue

 

$

25,628

 

 

$

48,136

 

 

Summary of Financial Assets Measured at Fair Value The following table summarizes the fair value of the Company’s financial assets that are measured at fair value as of December 31, 2020 and March 31, 2021 (in thousands):

 

 

 

December 31, 2020

 

 

 

Fair Value Measurement Category

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

26,718

 

 

$

 

 

$

 

Restricted cash

 

 

3,379

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Fair market value of warrant liability

 

 

 

 

 

 

 

 

31,821

 

Estimated fair value of contingent earn-out considerations

 

 

 

 

 

 

 

 

22,531

 

 

 

 

March 31, 2021

 

 

 

Fair Value Measurement Category

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

34,995

 

 

$

 

 

$

 

Restricted cash

 

 

9,773

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Fair market value of warrant liability

 

 

 

 

 

 

 

 

75,634

 

Estimated fair value of contingent earn-out considerations

 

 

 

 

 

 

 

 

54,734