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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 15,743 $ 835
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 6,478 4,848
Deferred income taxes (1,455) 421
Non-cash operating lease cost 7,382 6,211
Stock-based compensation 21,683 32,618
Accretion of discount and accrued interest on available-for-sale securities (2,981) (4,720)
Changes in operating assets and liabilities:    
Accounts receivable (3,517) (3,030)
Inventory (35,474) (4,356)
Prepaid expenses and other current assets 227 (7,965)
Other assets 440 (824)
Accounts payable (4,018) 10,828
Accrued expenses (7,629) 21,231
Accrued compensation and benefits 6,715 (1,905)
Sales tax payable 25 1,101
Gift card liability 414 (296)
Deferred revenue 3,696 1,723
Returns reserve (656) 1,643
Income tax payable (346) (2,212)
Operating lease liabilities (6,485) (5,405)
Net cash provided by operating activities 242 50,746
Cash flows from investing activities:    
Purchases of property and equipment (5,305) (13,658)
Purchases of available-for-sale securities (185,857) (191,379)
Maturities of available-for-sale securities 153,300 141,230
Other investing activities (201) 0
Net cash used in investing activities (38,063) (63,807)
Cash flows from financing activities:    
Repurchases of Class A Common Stock (2,688) (7,277)
Proceeds from stock option exercises and employee stock purchases 1,318 268
Net cash used in financing activities (1,370) (7,009)
Net change in cash and cash equivalents (39,191) (20,070)
Cash and cash equivalents beginning of period 85,645 144,173
Cash and cash equivalents end of period 46,454 124,103
Supplemental disclosures:    
Property and equipment included in accounts payable and accrued expenses $ 0 $ 2,174