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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 2,535 $ 6,491
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,963 1,372
Deferred income taxes 1,991 (984)
Non-cash operating lease cost 3,977 1,364
Stock-based compensation 22,108 22,309
Accretion of discount on available-for-sale securities (2,723) (260)
Changes in operating assets and liabilities:    
Accrued interest (231) 0
Accounts receivable (5,250) 597
Inventory (254) 10,170
Prepaid expenses and other current assets (5,973) 2,034
Other assets (878) (1)
Accounts payable 4,679 (9,100)
Accrued expenses 11,310 (8,181)
Accrued compensation and benefits (3,208) 951
Sales tax payable 68 (421)
Gift card liability (206) 508
Deferred revenue 665 (2,009)
Returns reserve 525 (144)
Income tax payable (917) 3,290
Operating lease liabilities (2,023) (1,466)
Net cash provided by operating activities 28,158 26,520
Cash flows from investing activities:    
Purchases of property and equipment (9,489) (1,613)
Purchases of available-for-sale securities (137,850) (38,343)
Maturities of available-for-sale securities 106,555 0
Net cash used in investing activities (40,784) (39,956)
Cash flows from financing activities:    
Proceeds from stock option exercises and employee stock purchases 264 637
Tax payments related to net share settlements on restricted stock units 0 (246)
Net cash provided by financing activities 264 391
Net change in cash and cash equivalents (12,362) (13,045)
Cash and cash equivalents, beginning of period 144,173 159,775
Cash and cash equivalents, end of period 131,811 146,730
Supplemental disclosures:    
Property and equipment included in accounts payable and accrued expenses 3,329 153
Lease assets obtained in exchange for new operating lease liabilities $ 15,921 $ 3,206