v3.26.1
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flow from operating activities:    
Net income $ 11,703 $ 51,034
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 15,917 16,631
Stock-based compensation expense 13,848 15,567
Reduction of operating lease right-of-use assets 8,562 7,943
Bad debt expense 1,342 1,214
Non-cash interest expense 3,227 5,483
Accretion of debt discounts and issuance costs 940 1,060
Provision for inventory write-downs and shrinkage 1,810 1,485
Gain on debt extinguishment 0 (37,101)
Change in fair value of warrant liability (28,752) (47,040)
Gain related to warehouse fire, net 0 (353)
Other adjustments 78 (36)
Changes in operating assets and liabilities:    
Accounts receivable, net 2,407 (10,020)
Inventory, net (6,398) (6,678)
Prepaid expenses and other current assets 2,913 6,595
Other assets (479) (501)
Operating lease liability (11,100) (10,876)
Accounts payable (266) 2,357
Accrued consignor payable (16,435) (13,709)
Other accrued and current liabilities (14,538) (14,743)
Other noncurrent liabilities 213 (152)
Net cash used in operating activities (15,008) (31,840)
Cash flow from investing activities:    
Insurance proceeds related to warehouse fire 0 2,309
Capitalized proprietary software development costs (6,837) (6,483)
Purchases of property and equipment (11,502) (12,518)
Net cash used in investing activities (18,339) (16,692)
Cash flow from financing activities:    
Proceeds from exercise of stock options 308 114
Taxes paid related to restricted stock vesting (109) (83)
Proceeds from issuance of stock in connection with the Employee Stock Purchase Program 1,018 838
Repayment of 2025 Notes 0 (26,749)
Cash received from settlement of Capped Calls in conjunction with the February 2025 Note Exchange 0 1,499
Issuance costs paid related to the February 2025 Note Exchange 0 (5,006)
Net cash provided by (used in) financing activities 1,217 (29,387)
Net decrease in cash, cash equivalents and restricted cash (32,130) (77,919)
Cash, cash equivalents and restricted cash    
Beginning of period 166,039 187,123
End of period 133,909 109,204
Supplemental disclosures of cash flow information    
Cash paid for interest 10,376 6,951
Cash paid for income taxes 397 335
Supplemental disclosures of non-cash investing and financing activities    
Property and equipment additions not yet paid in cash 5,175 1,732
Capitalized proprietary software development costs additions not yet paid in cash 1,173 840
Stock-based compensation capitalized to proprietary software development costs 107 196
Net settlement of cashless warrants exercised 10,913 0
Net decrease in principal amount of debt due to the February 2025 Note Exchange 0 (36,656)
Issuance costs associated with the February 2025 Note Exchange included in accounts payable and other accrued and current liabilities $ 0 $ 200