Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 21,050 $ 20,273
Accounts receivable, net 9,633 10,650
Inventory 79,908 86,177
Prepaid expenses and other current assets 13,545 12,371
Total current assets 124,136 129,471
Property and equipment, net 41,400 39,315
Operating lease right-of-use assets 101,932 88,624
Intangible assets, net 39,022 43,470
Goodwill 95,648 93,695
Deferred tax assets 8 8
Other assets 2,892 2,799
Total assets 405,038 397,382
Current liabilities:    
Accounts payable 42,414 31,248
Accrued liabilities 27,966 33,532
Sales returns reserve 7,811 7,889
Deferred revenue 12,687 12,707
Income taxes payable 244 243
Operating lease liabilities, current 14,270 13,052
Current portion of long-term debt 6,375 6,375
Total current liabilities 111,767 105,046
Long-term debt 93,491 104,695
Operating lease liabilities 102,156 87,668
Other long-term liabilities 2,055 2,202
Total liabilities 309,469 299,611
Commitments and contingencies (Note 16)
Stockholders’ equity:    
Preferred stock, $0.001 par value; 50,000,000 shares authorized; zero shares issued or outstanding as of each of June 30, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value; 500,000,000 shares authorized; 10,963,703 and 10,770,721 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 128 128
Additional paid-in capital 477,961 476,124
Accumulated other comprehensive loss (50,388) (53,644)
Accumulated deficit (332,132) (324,837)
Total stockholders’ equity 95,569 97,771
Total liabilities and stockholders’ equity $ 405,038 $ 397,382