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STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 21,186 $ (9,556) $ 49,758
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization expense 1,924 1,424 946
Deferred income taxes (732) (3,732) (6,507)
Non-cash operating lease cost 2,381    
Loss on disposal of property and equipment 0 0 2
Stock-based compensation 37,458 81,139 8,713
Changes in operating assets and liabilities:      
Accounts receivable (4,425) 3,339 (4,023)
Inventory (91,908) (36,333) (35,435)
Prepaid expenses and other current assets (4,483) (735) (4,672)
Other assets (197) 127 38
Accounts payable 6,315 2,855 1,207
Accrued expenses 1,487 17,983 4,266
Deferred revenue 2,190 (1,185) 794
Accrued compensation and benefits (3,049) 2,250 2,366
Returns reserve 697 1,084 901
Sales tax payable (354) 652 527
Income tax payable (3,973) 4,428 105
Gift card liability 2,292 2,571 2,028
Deferred rent and lease incentive 0 (117) 734
Operating lease liabilities (2,071)    
Other non-current liabilities (67) 243 0
Net cash (used in) provided by operating activities (35,329) 66,437 21,748
Cash flows from investing activities:      
Purchases of property and equipment (5,348) (2,712) (2,262)
Purchases of held-to-maturity securities (500) 0 0
Net cash used in investing activities (5,848) (2,712) (2,262)
Cash flows from financing activities:      
Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts 0 95,881 0
Payments of initial public offering issuance costs, net of reimbursements 0 (780) 0
Payment of debt issuance and financing costs 0 (181) (98)
Proceeds from capital contributions 479 1,301 0
Proceeds from stock option exercises and employee stock purchases 3,043 907 392
Tax payments related to net share settlements on restricted stock units 0 (21,556) 0
Net cash provided by financing activities 3,522 75,572 294
Net (decrease) increase in cash, cash equivalents, and restricted cash (37,655) 139,297 19,780
Cash, cash equivalents, and restricted cash, beginning of period 197,430 58,133 38,353
Cash, cash equivalents, and restricted cash, end of period 159,775 197,430 58,133
Supplemental disclosures:      
Cash paid for income taxes, net of refunds received 11,903 15,004 18,162
Property and equipment included in accounts payable and accrued expenses 19 32 236
Deferred offering costs recorded in stockholders’ equity upon initial public offering, net of related tax impacts $ 0 $ 220 $ 0