Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 26,679 $ 24,192
Accounts receivable, net 13,402 8,107
Inventory 94,401 95,750
Prepaid expenses and other current assets 14,362 16,720
Total current assets 148,844 144,769
Property and equipment, net 32,636 31,262
Operating lease right-of-use assets 73,445 65,382
Intangible assets, net 49,889 52,354
Goodwill 89,606 89,254
Deferred tax assets 48 47
Other assets 2,101 2,136
Total assets 396,569 385,204
Current liabilities:    
Accounts payable 27,409 30,299
Accrued liabilities 31,226 31,216
Sales returns reserve 9,634 7,587
Deferred revenue 13,175 12,215
Income taxes payable 654 1,039
Operating lease liabilities, current 8,884 8,382
Current portion of long-term debt 7,000 6,300
Total current liabilities 97,982 97,038
Long-term debt 112,910 105,411
Operating lease liabilities 72,373 63,496
Other long-term liabilities 1,825 1,625
Total liabilities 285,090 267,570
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Preferred stock, $0.001 par value; 50,000,000 shares authorized; zero shares issued or outstanding as of each of March 31, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 500,000,000 shares authorized; 10,692,964 and 10,669,649 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 128 128
Additional paid-in capital 473,311 471,758
Accumulated other comprehensive loss (60,207) (60,849)
Accumulated deficit (301,753) (293,403)
Total stockholders’ equity 111,479 117,634
Total liabilities and stockholders’ equity $ 396,569 $ 385,204