Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 21,859 $ 46,319
Restricted cash 2,170 2,054
Accounts receivable 4,796 3,231
Inventory, net 91,024 126,533
Prepaid income taxes 0 6,089
Prepaid expenses and other current assets 15,846 13,378
Total current assets 135,695 197,604
Property and equipment, net 27,154 28,958
Operating lease right-of-use assets 37,465 37,317
Intangible assets, net 64,322 76,105
Goodwill 94,898 167,731
Deferred tax assets 1,569 1,070
Other assets 618 853
Total assets 361,721 509,638
Current liabilities:    
Accounts payable 28,279 20,903
Accrued liabilities 25,223 39,806
Sales returns reserve 9,610 3,968
Deferred revenue 11,782 11,421
Income taxes payable 257 0
Operating lease liabilities, current 7,510 6,643
Current portion of long-term debt 3,300 5,600
Total current liabilities 85,961 88,341
Long-term debt 90,094 138,049
Operating lease liabilities 35,344 34,404
Other long-term liabilities 1,704 1,483
Deferred income taxes 0 284
Total liabilities 213,103 262,561
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 December 31, 2023 and 2022, respectively 0 0
Common stock, $0.001 par value; 500,000,000 shares authorized; 10,567,881 and 10,750,586 shares issued and outstanding as of December 31, 2023 and 2022, respectively* [1] 128 129
Additional paid-in capital 466,172 460,660
Accumulated other comprehensive loss (50,269) (45,185)
Accumulated deficit (267,413) (168,527)
Total stockholders’ equity 148,618 247,077
Total liabilities and stockholders’ equity $ 361,721 $ 509,638
[1] Adjusted for the one-for-12 Reverse Stock Split. Refer to Note 14, “Stockholders’ Equity.”