Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 23,426 $ 24,192
Accounts receivable, net 8,210 8,107
Inventory 96,712 95,750
Prepaid income taxes 612 0
Prepaid expenses and other current assets 16,020 16,720
Total current assets 144,980 144,769
Property and equipment, net 36,746 31,262
Operating lease right-of-use assets 88,308 65,382
Intangible assets, net 45,706 52,354
Goodwill 93,055 89,254
Deferred tax assets 49 47
Other assets 2,483 2,136
Total assets 411,327 385,204
Current liabilities:    
Accounts payable 37,994 30,299
Accrued liabilities 30,602 31,216
Sales returns reserve 7,081 7,587
Deferred revenue 12,857 12,215
Income taxes payable 0 1,039
Operating lease liabilities, current 11,392 8,382
Current portion of long-term debt 7,700 6,300
Total current liabilities 107,626 97,038
Long-term debt 103,602 105,411
Operating lease liabilities 88,070 63,496
Other long-term liabilities 1,924 1,625
Total liabilities 301,222 267,570
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 September 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 500,000,000 shares authorized; 10,705,895 and 10,669,649 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 128 128
Additional paid-in capital 474,942 471,758
Accumulated other comprehensive loss (54,627) (60,849)
Accumulated deficit (310,338) (293,403)
Total stockholders’ equity 110,105 117,634
Total liabilities and stockholders’ equity $ 411,327 $ 385,204