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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 34,250 $ 2,720 $ 22,637
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 9,035 6,694 2,942
Deferred income taxes (544) 6,648 (7,320)
Non-cash operating lease cost 9,996 8,483 2,863
Stock-based compensation 26,874 42,673 45,799
Accretion of discount and accrued interest on available-for-sale securities (3,727) (6,499) (1,678)
Changes in operating assets and liabilities:      
Accounts receivable 2,354 (1,219) (603)
Inventory (12,207) 3,281 58,936
Prepaid expenses and other current assets 1,068 (2,544) (572)
Other assets 356 (737) (79)
Accounts payable 8,757 (5,332) (6,192)
Accrued expenses (21,289) 33,950 (18,657)
Accrued compensation and benefits 11,505 (1,623) 3,897
Sales tax payable 561 556 (225)
Gift card liability 2,513 1,364 358
Deferred revenue (622) 2,452 (626)
Returns reserve 298 884 (469)
Income tax payable 1,548 (2,211) 2,557
Operating lease liabilities (9,655) (8,278) (2,660)
Other non-current liabilities 99 (100) 7
Net cash provided by operating activities 61,170 81,162 100,915
Cash flows from investing activities:      
Purchases of property and equipment (8,168) (17,021) (16,348)
Purchases of available-for-sale securities (256,992) (246,949) (150,139)
Maturities of available-for-sale securities 201,400 196,580 49,300
Purchase of investment in equity securities (201) (27,534) 0
Net cash used in investing activities (63,961) (94,924) (117,187)
Cash flows from financing activities:      
Repurchases of Class A Common Stock (2,688) (45,454) 0
Proceeds from stock option exercises and employee stock purchases 1,718 438 916
Tax payments related to net share settlements on restricted stock units 0 0 (246)
Issuance of Class A Common Stock upon vesting of restricted stock 1 0 0
Issuance of Class A Common Stock in exchange for services 0 250 0
Net cash (used in) provided by financing activities (969) (44,766) 670
Effect of foreign currency exchange rate changes on cash and cash equivalents 100 0 0
Net decrease in cash and cash equivalents (3,660) (58,528) (15,602)
Cash and cash equivalents, beginning of period 85,645 144,173 159,775
Cash and cash equivalents end of period 81,985 85,645 144,173
Supplemental disclosures:      
Cash paid for income taxes, net of refunds received 8,417 13,138 21,100
Property and equipment included in accounts payable and accrued expenses $ 67 $ 536 $ 453