BUSINESS SEGMENTS

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

BUSINESS SEGMENTS

BUSINESS SEGMENTS

Segment information

The Company operates in two reportable segments: U.S. and International. The U.S. segment is the Company’s domestic business that designs, markets and distributes its products to retailers and distributors, as well as directly to consumers through third parties and its own internet websites primarily in the U.S. The International segment is the Company’s international business that sells and distributes products to consumers primarily in the U.K., the European Union and the Asia Pacific region.

The Company’s chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer. The Company has segmented its operations to reflect the manner in which the CODM reviews and evaluates the results of its operations. The CODM allocates operating and capital resources and evaluates the performance of the Company’s segments based on segment net sales, segment gross margin, and segment income (loss) from operations. Such measures give recognition to specifically identifiable operating costs. Significant segment expenses that are included in segment operating income consist of cost of sales, distribution expenses (which include freight-out expenses and warehouse expenses) and selling, general and administrative expenses.

Certain general and administrative expenses are not allocated to the Company’s segments as these represent corporate level activities and are reflected below as unallocated corporate expenses. These costs primarily include senior executive salaries and benefits, stock compensation, director fees and accounting, legal fees and consulting fees.

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Segment Performance Measures:	(in thousands)
Net sales:
U.S.	$	128,167	$	119,315	$	258,874	$	247,825
International	13,402		12,547		26,203		24,122
Total net sales	$	141,569	$	131,862	$	285,077	$	271,947
Gross Margin:
U.S.	$	87,498	$	46,769	$	136,947	$	93,333
International	5,741		4,070		10,461		8,143
Total gross margin	$	93,239	$	50,839	$	147,408	$	101,476
Income (loss) from operations
U.S.	$	37,935	$	(29,620)	$	43,113	$	(27,722)
International	(1,206)		(3,328)		(3,703)		(6,280)
Unallocated corporate expenses(1)	(5,104)		(4,259)		(10,015)		(2,106)
Income (loss) from operations	$	31,625	$	(37,207)	$	29,395	$	(36,108)

(1) Unallocated corporate expense for the six months ended June 30, 2025 included a net legal settlement gain of $6.4 million. Details see NOTE 11 — CONTINGENCIES.

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Supplemental information for significant segment expenses:	(in thousands)
Cost of sales:
U.S.	$	40,669	$	72,546	$	121,927	$	154,492
International	7,661		8,477		15,742		15,979
Total cost of sales	$	48,330	$	81,023	$	137,669	$	170,471
Freight-out expenses:
U.S.	$	2,998	$	3,122	$	6,553	$	6,401
International	757		717		1,466		1,262
Total freight-out expenses	$	3,755	$	3,839	$	8,019	$	7,663
Warehouse expenses:
U.S.	$	13,435	$	10,448	$	24,088	$	21,960
International	2,905		3,027		5,571		5,761
Total warehouse expenses	$	16,340	$	13,475	$	29,659	$	27,721
Selling, general and administrative expenses:
U.S.	$	31,161	$	29,582	$	59,370	$	59,457
International	3,274		3,654		6,940		7,400
Unallocated corporate expenses	5,104		4,259		10,015		2,106
Total selling, general and administrative expenses	$	39,539	$	37,495	$	76,325	$	68,963
Goodwill impairment:
U.S.	$	—	$	33,237	$	—	$	33,237
Restructuring expenses:
U.S.	$	1,969	$	—	$	3,823	$	—
International	11		—		187		—
Total other expenses	$	1,980	$	—	$	4,010	$	—

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Depreciation and amortization:
U.S.	$	5,030	$	5,103	$	9,974	$	10,482
International	332		334		670		653
Total depreciation and amortization	$	5,362	$	5,437	$	10,644	$	11,135
Capital expenditures:
U.S.	$	1,333	$	1,121	$	4,877	$	2,688
International	—		52		299		58
Total capital expenditures	$	1,333	$	1,173	$	5,176	$	2,746

	June 30, 2026		December 31, 2025
	(in thousands)
Assets
U.S.	$	537,972	$	482,467
International	73,576		84,249
Unallocated corporate	5,451		5,839
Total Assets	$	616,999	$	572,555