v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 76,470 $ 81,985
Short-term investments 254,696 218,863
Accounts receivable 7,537 6,271
Inventory, net 121,335 127,966
Prepaid expenses and other current assets 18,543 12,200
Total current assets 478,581 447,285
Non-current assets    
Property and equipment, net 36,177 33,938
Operating lease right-of-use assets 61,024 57,134
Deferred tax assets 12,176 12,187
Investment in equity securities 27,735 27,735
Other assets 2,226 1,717
Total non-current assets 139,338 132,711
Total assets 617,919 579,996
Current liabilities    
Accounts payable 13,945 18,187
Operating lease liabilities 9,943 8,175
Accrued expenses 41,889 20,529
Accrued compensation and benefits 14,512 17,194
Sales tax payable 6,061 4,266
Gift card liability 12,256 12,117
Deferred revenue 3,357 3,990
Returns reserve 4,896 4,171
Income tax payable 2,104 1,894
Total current liabilities 108,963 90,523
Non-current liabilities    
Operating lease liabilities, non-current 57,074 51,829
Other non-current liabilities 264 182
Total liabilities 166,301 142,534
Commitments and contingencies (Note 10)
Stockholders’ equity    
Preferred stock — par value $0.0001 per share, 100,000,000 shares authorized as of September 30, 2026 and December 31, 2025; zero shares issued and outstanding as of September 30, 2026 and December 31, 2025 0 0
Additional paid-in capital 299,352 338,526
Accumulated other comprehensive income (loss) (422) 196
Retained earnings 152,672 98,724
Total stockholders’ equity 451,618 437,462
Total liabilities and stockholders’ equity 617,919 579,996
Class A Common Stock    
Stockholders’ equity    
Common stock 16 16
Class B Common Stock    
Stockholders’ equity    
Common stock $ 0 $ 0