CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 74,304	$ 81,985
Short-term investments	202,724	218,863
Accounts receivable	5,240	6,271
Inventory, net	139,382	127,966
Prepaid expenses and other current assets	10,538	12,200
Total current assets	432,188	447,285
Non-current assets
Property and equipment, net	33,144	33,938
Operating lease right-of-use assets	56,544	57,134
Deferred tax assets	12,181	12,187
Investment in equity securities	27,735	27,735
Other assets	1,650	1,717
Total non-current assets	131,254	132,711
Total assets	563,442	579,996
Current liabilities
Accounts payable	7,775	18,187
Operating lease liabilities	8,265	8,175
Accrued expenses	35,664	20,529
Accrued compensation and benefits	4,853	17,194
Sales tax payable	4,927	4,266
Gift card liability	11,754	12,117
Deferred revenue	1,704	3,990
Returns reserve	3,958	4,171
Income tax payable	1,303	1,894
Total current liabilities	80,203	90,523
Non-current liabilities
Operating lease liabilities, non-current	52,336	51,829
Other non-current liabilities	263	182
Total liabilities	132,802	142,534
Commitments and contingencies (Note 10)
Stockholders’ equity
Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of March 31, 2026 and December 31, 2025; zero shares issued and outstanding as of March 31, 2026 and December 31, 2025	0	0
Additional paid-in capital	325,715	338,526
Accumulated other comprehensive income (loss)	(103)	196
Retained earnings	105,012	98,724
Total stockholders’ equity	430,640	437,462
Total liabilities and stockholders’ equity	563,442	579,996
Class A Common Stock
Stockholders’ equity
Common stock	16	16
Class B Common Stock
Stockholders’ equity
Common stock	$ 0	$ 0