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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 6,491 $ 13,751
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 1,372 808
Deferred income taxes (984) (315)
Non-cash operating lease cost 1,364 1,061
Stock-based compensation 22,309 17,254
Other (260) 0
Changes in operating assets and liabilities:    
Accounts receivable 597 (2,637)
Due from related party 0 (631)
Inventory 10,170 (41,578)
Prepaid expenses and other current assets 2,034 (4,929)
Other assets (1) (687)
Accounts payable (9,100) (4,081)
Accrued expenses (8,181) 2,970
Accrued compensation and benefits 951 (2,994)
Sales tax payable (421) 58
Gift card liability 508 319
Deferred revenue (2,009) 448
Returns reserve (144) (387)
Income tax payable 3,290 (3,973)
Operating lease liabilities (1,466) (964)
Other non-current liabilities 0 (28)
Net cash (used in) provided by operating activities 26,520 (26,535)
Cash flows from investing activities:    
Purchases of property and equipment (1,613) (1,727)
Purchases of available-for-sale securities (38,343) 0
Purchases of held-to-maturity securities 0 (500)
Net cash used in investing activities (39,956) (2,227)
Cash flows from financing activities:    
Proceeds from stock option exercises and employee stock purchases 637 1,073
Tax payments related to net share settlements on restricted stock units (246) 0
Capital contributions 0 479
Net cash provided by financing activities 391 1,552
Net decrease in cash, cash equivalents, and restricted cash (13,045) (27,210)
Cash, cash equivalents, and restricted cash, beginning of period 159,775 197,430
Cash and cash equivalents, end of period 146,730 170,220
Supplemental disclosures:    
Property and equipment included in accounts payable and accrued expenses 153 309
Lease assets obtained in exchange for new operating lease liabilities $ 3,206 $ 4,670