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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 124,103 $ 144,173
Short-term investments 157,607 102,522
Accounts receivable 10,499 7,469
Inventory, net 123,396 119,040
Prepaid expenses and other current assets 18,689 12,455
Total current assets 434,294 385,659
Non-current assets    
Property and equipment, net 35,395 24,864
Operating lease right-of-use assets 52,769 43,059
Deferred tax assets 17,870 18,291
Other assets 2,160 1,336
Total non-current assets 108,194 87,550
Total assets 542,488 473,209
Current liabilities    
Accounts payable 27,399 14,749
Operating lease liabilities 11,849 8,230
Accrued expenses 29,036 7,906
Accrued compensation and benefits 5,407 7,312
Sales tax payable 4,250 3,149
Gift card liability 7,944 8,240
Deferred revenue 3,883 2,160
Returns reserve 4,632 2,989
Income tax payable 345 2,557
Total current liabilities 94,745 57,292
Non-current liabilities    
Operating lease liabilities, non-current 44,050 38,884
Other non-current liabilities 183 183
Total liabilities 138,978 96,359
Commitments and contingencies (Note 9)
Stockholders’ equity    
Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of September 30, 2024 and December 31, 2023; zero shares issued and outstanding as of September 30, 2024 and December 31, 2023 0 0
Additional paid-in capital 340,684 315,075
Accumulated other comprehensive income 221 5
Retained earnings 62,589 61,754
Total stockholders’ equity 403,510 376,850
Total liabilities and stockholders’ equity 542,488 473,209
Class A Common Stock    
Stockholders’ equity    
Common stock 16 16
Class B Common Stock    
Stockholders’ equity    
Common stock $ 0 $ 0