Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income Tax Expense Or Benefit

The components of the Company’s provision for income taxes were as follows (in thousands):

	December 31,
	2023		2022		2021
Current
Federal	$	20,008	$	16,731	$	17,790
State	5,482		1,542		5,357
Total current provision	25,490		18,272		23,147
Deferred
Federal	(5,954)		(2,039)		(3,014)
State	(1,366)		1,307		(718)
Total deferred benefit	(7,320)		(732)		(3,732)
Provision for income taxes	$	18,170	$	17,541	$	19,415

Schedule Of Effective Income Tax Reconciliation

A reconciliation of 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,
	2023		2022		2021
Tax expense at U.S. statutory rate	$	8,569	$	8,133	$	2,083
State tax expense, net of federal benefit	1,828		1,498		606
Non-deductible expenses	(831)		(380)		344
Stock-based compensation	3,956		4,921		(28,727)
Excess compensation limitations	4,365		4,776		45,359
Foreign-derived intangible income deduction	—		(3)		(455)
R&D tax credit benefit	—		—		(230)
Uncertain tax positions	7		(39)		280
Change in valuation allowance	—		—		—
Provision to return true up	203		(1,823)		(121)
Other	73		458		276
Provision for income taxes	$	18,170	$	17,541	$	19,415

Schedule Of Components Of Deferred Income Taxes

Significant components of deferred tax balances were as follows (in thousands):

	December 31,
	2023		2022
Deferred tax assets
Net operating losses	$	334	$	371
Uniform capitalization adjustment to inventory	9,930		5,741
Stock-based compensation	3,959		2,236
Accrued compensation and benefits	1,444		579
Lease liability	11,812		4,837
Inventory reserve	1,407		837
Returns reserve	749		873
Sales tax accrual	406		421
Other	856		969
Total deferred tax assets	30,897		16,864
Less: valuation allowance	—		—
Total net deferred tax assets	30,897		16,864
Deferred tax liabilities
Property and equipment	(1,811)		(2,028)
Right-of-use asset	(10,795)		(3,865)
Total deferred tax liabilities	(12,606)		(5,894)
Net deferred tax assets	$	18,291	$	10,971

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to our uncertain tax positions during the years ended December 31, 2023 and 2022 (in thousands):

	December 31,
	2023		2022
Beginning balance of uncertain tax positions	$	167	$	167
Increases related to current year tax positions	—		—
Decreases related to current year tax positions	—		—
Increases related to prior year tax positions	—		—
Changes due to lapse of statute of limitations	—		—
Settlement with taxing authorities	—		—
Ending balance of uncertain tax positions	$	167	$	167