v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 334,497 $ 379,780
Restricted cash 739 760
Investments 43,334 36,316
Accounts receivable, net 91,707 65,973
Inventories 218,004 188,298
Prepayments and other current assets 41,957 19,535
Total current assets 730,238 690,662
Non-current assets    
Operating lease right-of-use assets 456,704 431,455
Property and equipment, net 37,852 32,281
Intangible assets, net 4,624 4,978
Goodwill 12,900 12,586
Deferred tax assets 15,546 12,981
Other non-current assets 15,849 17,516
Total non-current assets 543,475 511,797
Total assets 1,273,713 1,202,459
Current liabilities    
Accounts payable 86,128 105,407
Contract liabilities 5,437 6,459
Current operating lease liabilities 121,374 100,326
Income tax payable 7,666 17,509
Accrued expenses and other current liabilities 125,333 112,547
Contingent consideration 3,368 0
Total current liabilities 349,306 342,248
Non-current liabilities    
Operating lease liabilities, non-current 384,108 368,321
Deferred tax liabilities 734 797
Finance lease obligations, non-current 774 690
Non-current income tax payable 4,768 4,604
Total non-current liabilities 390,384 374,412
Total liabilities 739,690 716,660
Commitments and contingencies 0 0
Shareholders’ equity    
Treasury shares, at cost (nil and 237,269 shares held as of June 30, 2026 and December 31, 2025, respectively) 0 (7,126)
Additional paid-in capital 91,454 88,674
Accumulated other comprehensive income (loss) (111) 1,527
Retained earnings 440,870 400,866
Total shareholders’ equity 534,023 485,799
Total liabilities and shareholders’ equity 1,273,713 1,202,459
Class A ordinary shares    
Shareholders’ equity    
Common stock issued 1,467 1,495
Class B ordinary shares    
Shareholders’ equity    
Common stock issued $ 343 $ 363