XML 23 R7.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 6,288 $ (102)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 3,411 1,999
Deferred income taxes 6 995
Non-cash operating lease cost 2,391 2,303
Stock-based compensation 5,451 7,239
Accretion of discount and accrued interest on available-for-sale securities (337) (1,113)
Realized gains on available-for-sale securities (32) 0
Changes in operating assets and liabilities:    
Accounts receivable 1,031 2,078
Inventory (11,416) (15,818)
Prepaid expenses and other current assets 1,662 2,899
Other assets 67 166
Accounts payable (10,600) 1,303
Accrued expenses 15,130 12,406
Accrued compensation and benefits (12,341) (618)
Sales tax payable 661 51
Gift card liability (363) (299)
Deferred revenue (2,286) (2,653)
Returns reserve (213) (172)
Income tax payable (591) 272
Operating lease liabilities (1,204) (1,701)
Other non-current liabilities 81 0
Net cash (used in) provided by operating activities (3,204) 9,235
Cash flows from investing activities:    
Purchases of property and equipment (2,424) (1,310)
Purchases of available-for-sale securities (105,452) (54,624)
Maturities and sales of available-for-sale securities 121,676 53,951
Purchase of investment in equity securities 0 (201)
Net cash (used in) provided by investing activities 13,800 (2,184)
Cash flows from financing activities:    
Repurchases of Class A Common Stock (8,799) (2,688)
Proceeds from stock option exercises and employee stock purchases 295 0
Payments for taxes related to net share settlement of equity awards (9,758) 0
Net cash used in financing activities (18,262) (2,688)
Effect of foreign currency exchange rate changes on cash and cash equivalents (15) 0
Net increase (decrease) in cash and cash equivalents (7,681) 4,363
Cash and cash equivalents, beginning of period 81,985 85,645
Cash and cash equivalents end of period 74,304 90,008
Supplemental disclosures:    
Property and equipment included in accounts payable and accrued expenses $ 260 $ 70