v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 108,539 $ 81,985
Short-term investments 187,750 218,863
Accounts receivable 23,293 6,271
Inventory, net 119,557 127,966
Prepaid expenses and other current assets 13,787 12,200
Total current assets 452,926 447,285
Non-current assets    
Property and equipment, net 33,396 33,938
Operating lease right-of-use assets 53,976 57,134
Deferred tax assets 12,175 12,187
Investment in equity securities 27,735 27,735
Other assets 2,469 1,717
Total non-current assets 129,751 132,711
Total assets 582,677 579,996
Current liabilities    
Accounts payable 9,064 18,187
Operating lease liabilities 9,003 8,175
Accrued expenses 39,529 20,529
Accrued compensation and benefits 10,541 17,194
Sales tax payable 3,911 4,266
Gift card liability 12,496 12,117
Deferred revenue 1,736 3,990
Returns reserve 4,081 4,171
Income tax payable 1,022 1,894
Total current liabilities 91,383 90,523
Non-current liabilities    
Operating lease liabilities, non-current 48,665 51,829
Other non-current liabilities 264 182
Total liabilities 140,312 142,534
Commitments and contingencies (Note 10)
Stockholders’ equity    
Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of June 30, 2026 and December 31, 2025; zero shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 309,198 338,526
Accumulated other comprehensive income (loss) (240) 196
Retained earnings 133,391 98,724
Total stockholders’ equity 442,365 437,462
Total liabilities and stockholders’ equity 582,677 579,996
Class A Common Stock    
Stockholders’ equity    
Common stock 16 16
Class B Common Stock    
Stockholders’ equity    
Common stock $ 0 $ 0