Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income Tax Expense Or Benefit

Income tax expense (benefit) is summarized as follows (in thousands):

	December 31,
	2022		2021		2020
Current
Federal	$	16,731	$	17,790	$	9,087
State	1,542		5,357		5,738
Total current provision	18,272		23,147		14,825
Deferred
Federal	(2,039)		(3,014)		(3,504)
State	1,307		(718)		(3,003)
Total deferred benefit	(732)		(3,732)		(6,507)
Provision for income taxes	$	17,541	$	19,415	$	8,318

Schedule Of Effective Income Tax Reconciliation

A reconciliation from the income tax expense using the U.S. statutory federal income tax rate to the provision for income taxes is as follows (in thousands):

	December 31,
	2022		2021		2020
Tax expense at U.S. statutory rate	$	8,133	$	2,083	$	12,196
State tax expense, net of federal benefit	1,498		606		4,176
Non-deductible expenses	(380)		344		(2,116)
Stock-based compensation	4,921		(28,727)		—
Excess compensation limitations	4,776		45,359		—
Foreign-derived intangible income deduction	(3)		(455)		—
R&D tax credit benefit	—		(230)		—
Unrecognized tax benefits	(39)		280		—
Change in valuation allowance	—		—		(5,994)
Provision to return true up	(1,823)		(121)		56
Other	458		276		—
Provision for income taxes	$	17,541	$	19,415	$	8,318

Schedule Of Components Of Deferred Income Taxes

Significant components of the deferred income taxes are as follows (in thousands):

	December 31,
	2022		2021
Deferred tax assets
Net operating losses	$	371	$	1,217
Uniform capitalization adjustment to inventory	5,741		2,808
Stock-based compensation	2,236		3,032
Accrued compensation and benefits	579		1,341
Lease liability	4,837		386
Inventory reserve	837		1,063
Deferred rent	—		552
Returns reserve	873		731
Sales tax accrual	421		437
Other	969		417
Total deferred tax assets	16,864		11,984
Less: valuation allowance	—		—
Total net deferred tax assets	16,864		11,984
Deferred tax liabilities
Property and equipment	(2,028)		(1,745)
Right-of-use asset	(3,865)		—
Total deferred tax liabilities	(5,894)		(1,745)
Net deferred tax assets	$	10,971	$	10,239

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to our unrecognized tax benefits during the year ended December 31, 2022 and 2021 (in thousands):

	December 31,
	2022		2021
Beginning balance of unrecognized tax benefits	$	167	$	—
Increases related to current year tax positions	—		50
Decreases related to current year tax positions	—		—
Increases related to prior year tax positions	—		117
Changes due to lapse of statute of limitations	—		—
Settlement with taxing authorities	—		—
Ending balance of unrecognized tax benefits	$	167	$	167