0001811935-26-000013 | 10-K | XBRL Viewer

Print Document

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2025 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future payments under non-cancelable purchase obligations	$ 0.0

Provision for Income Taxes - Changes in Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Valuation allowance, beginning of period	$ 7,505	$ 5,090
Additions to valuation allowance	6,673	2,415
Reduction to valuation allowance	(206)	0
Valuation allowance, ending balance	$ 13,972	$ 7,505

Summary of Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 1,788	$ 2,022
Net change in allowance	2,542	667
Write-offs	(489)	(901)
Balance, end of period	$ 3,841	$ 1,788

Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Total	Series A common stock issued upon conversion of Series A Preferred Stock	Series A common stock issued upon redemption of Series B Preferred Stock	Series A common stock issued upon reclassification of Founder Non-Voting Preferred Stock	Series B common stock issued upon reclassification of Founder Voting Preferred Stock	Series A Common Stock	Series B Common Stock	Common Stock	Common Stock Series A Common Stock	Common Stock Series A Common Stock Series A common stock issued upon conversion of Series A Preferred Stock	Common Stock Series A Common Stock Series A common stock issued upon redemption of Series B Preferred Stock	Common Stock Series A Common Stock Series A common stock issued upon reclassification of Founder Non-Voting Preferred Stock	Common Stock Series B Common Stock	Common Stock Series B Common Stock Series B common stock issued upon reclassification of Founder Voting Preferred Stock	Preferred Stock	Preferred Stock Series A common stock issued upon reclassification of Founder Non-Voting Preferred Stock	Preferred Stock Series B common stock issued upon reclassification of Founder Voting Preferred Stock	Additional Paid-in Capital	Additional Paid-in Capital Series A common stock issued upon conversion of Series A Preferred Stock	Additional Paid-in Capital Series A common stock issued upon redemption of Series B Preferred Stock	Additional Paid-in Capital Series A common stock issued upon reclassification of Founder Non-Voting Preferred Stock	Additional Paid-in Capital Series B common stock issued upon reclassification of Founder Voting Preferred Stock	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Retained Earnings Series A common stock issued upon redemption of Series B Preferred Stock
Convertible Preferred, beginning balance (in shares) at Dec. 31, 2022	28,966
Convertible Preferred, beginning balance at Dec. 31, 2022	$ 270,601
Convertible Preferred, ending balance (in shares) at Dec. 31, 2023	28,966
Convertible Preferred, ending balance at Dec. 31, 2023	$ 270,601
Common Stock, beginning balance (in shares) at Dec. 31, 2022									3,358				0
Preferred Stock, beginning balance (in shares) at Dec. 31, 2022															87,400
Beginning balance at Dec. 31, 2022	11								$ 4				$ 0		$ 87			$ 5,564					$ (3,379)	$ (2,265)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,264																							41,264
Other comprehensive income	1,025																						1,025
Issuance of common stock to settle contingently consideration (in shares)								15
Issuance of common stock to settle contingently consideration	100																	100
Common Stock, ending balance (in shares) at Dec. 31, 2023									3,373				0
Preferred Stock, ending balance (in shares) at Dec. 31, 2023															87,400
Ending balance at Dec. 31, 2023	$ 42,400								$ 4				$ 0		$ 87			5,664					(2,354)	38,999
Convertible Preferred, ending balance (in shares) at Dec. 31, 2024	28,966
Convertible Preferred, ending balance at Dec. 31, 2024	$ 270,601
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67,856																							67,856
Other comprehensive income	1,369																						1,369
Conversions and redemptions (in shares)									608						(608)
Conversions and redemptions	0								$ 1						$ (1)
Repurchase of common stock (in shares)									(182)
Repurchase of common stock	$ (2,901)								$ (1)									(2,900)
Common Stock, ending balance (in shares) at Dec. 31, 2024						0	0		3,799				0
Preferred Stock, ending balance (in shares) at Dec. 31, 2024	86,792														86,792
Ending balance at Dec. 31, 2024	$ 108,724								$ 4				$ 0		$ 86			2,764					(985)	106,855
Increase (Decrease) in Temporary Equity [Roll Forward]
Common stock issued upon conversion and redemption of Preferred Stock (in shares)		(15,750)	(13,216)
Common stock issued upon conversion and redemption of Preferred Stock		$ (52,073)	$ (218,528)
Convertible Preferred, ending balance (in shares) at Dec. 31, 2025	0
Convertible Preferred, ending balance at Dec. 31, 2025	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16,246																							16,246
Other comprehensive income	1,433																						1,433
Stock-based compensation expense	97,285																	97,285
Issuance of Series A common stock upon vesting of RSUs (in shares)									8,167
Issuance of Series A common stock upon vesting of RSUs	0								$ 8									(8)
Shares withheld for employee taxes upon vesting of RSUs	(80,999)																	(80,999)
Founder Preferred Stock Amendment	32,676																	32,676
Conversions and redemptions (in shares)										15,750	32,129
Conversions and redemptions		$ 52,073	$ 218,528							$ 16	$ 32								$ 52,057	$ 312,875					$ (94,379)
Stock issued upon reclassification of Founder Non-Voting Preferred Stock (in shares)												84,131		21,703		(68,994)	(17,798)
Stock issued upon reclassification of Founder Non-Voting Preferred Stock				$ 0	$ 0							$ 84		$ 22		$ (69)	$ (17)				$ (15)	$ (5)
Issuance of Series A common stock, net of underwriters' discounts and offering expenses (in shares)									10,715
Issuance of Series A common stock, net of underwriters' discounts and offering expenses	$ 135,029								$ 11									135,018
Common Stock, ending balance (in shares) at Dec. 31, 2025						154,691	21,703		154,691				21,703
Preferred Stock, ending balance (in shares) at Dec. 31, 2025	0														0
Ending balance at Dec. 31, 2025	$ 580,995								$ 155				$ 22		$ 0			$ 551,648					$ 448	$ 28,722

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Level 1
Assets:
Cash equivalents	$ 243,663	$ 139,500
Level 2
Assets:
Cash equivalents	0	0
Level 3
Assets:
Cash equivalents	$ 0	$ 0

Stockholders' Equity - Common Stock Authorized, Issued and Reserved (Details) shares in Thousands	Dec. 31, 2025 shares
Class of Stock [Line Items]
Total shares of common stock reserved (in shares)	28,356
Series A Common Stock And Series B Common Stock
Class of Stock [Line Items]
Common shares outstanding (in shares)	176,394
Authorized but not reserved (in shares)	2,095,250
Total common shares authorized (in shares)	2,300,000
Shares available under the 2019 and 2025 Equity Incentive Plans
Class of Stock [Line Items]
Shares available (in shares)	25,270
Shares available under the 2025 Employee Stock Purchase Plan
Class of Stock [Line Items]
Shares available (in shares)	3,086

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483014/272-10-45-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482987/272-10-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Goodwill & Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill & Intangible Assets

5. Goodwill & Intangible Assets

Goodwill

The goodwill resulting from the acquisition activity is primarily related to expected improvements in technology performance and functionality, as well as sales growth from future product and service offerings and new customers, together with certain intangible assets that do not qualify for separate recognition. The goodwill resulting from the acquisition activity is generally not deductible for tax purposes.

The following table summarizes our goodwill activity:


(in thousands)	Amount
Goodwill - December 31, 2023	$	25,938
Acquisition activity	—
Goodwill - December 31, 2024	25,938
Acquisition activity	11,831
Goodwill - December 31, 2025	$	37,769

Intangible Assets, net

Intangible assets, net consisted of the following:


	December 31, 2024
(in thousands, except for years data)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	7,284	$	(4,026)	$	3,258	2.3
Customer relationships	3,619		(1,893)		1,726		3.8
Tradenames	3,111		(1,705)		1,406		4.0
Non-competition agreements	1,907		(1,535)		372		0.5
Domain names	234		(90)		144		9.3
Intangible assets, net	$	16,155	$	(9,249)	$	6,906


	December 31, 2025
(in thousands, except for years data)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	12,713	$	(5,482)	$	7,231	2.5
Customer relationships	5,036		(334)		4,702		4.6
Tradenames	3,964		(1,606)		2,358		4.4
Non-competition agreements	4,121		(1,847)		2,274		3.0
Domain names	234		(105)		129		8.0
Intangible assets, net	$	26,068	$	(9,374)	$	16,694

Amortization expense recorded for intangible assets was approximately $3.7 million, $3.1 million and $2.5 million for the years ended December 31, 2023, 2024 and 2025, respectively.

The expected future amortization expense for intangible assets as of December 31, 2025 is as follows:


(in thousands)	Amount
2026	$	5,660
2027	4,583
2028	4,031
2029	1,194
2030	1,178
Thereafter	48
Total amortization expense	$	16,694

Other Assets and Liabilities - Schedule of Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Other Assets And Liabilities [Abstract]
Tax liabilities	$ 3,567	$ 418
Deferred tax liabilities	1,628	0
Payroll liabilities	0	4,885
Other liabilities	898	0
Other non-current liabilities	$ 6,093	$ 5,303

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Purchase Commitments As of December 31, 2025, the Company did not have any material future payments under non-cancelable purchase obligations. Legal Matters From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. Loss contingencies are recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Accounting for contingencies requires the use of judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. As of December 31, 2025, the Company was not involved in any legal proceedings, individually or in the aggregate, that the Company believes are probably or reasonably possible to have a material adverse effect on its business, results of operations, financial condition or cash flows. Indemnification In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, brand partners, lessors, investors, directors, officers, employees and other parties with respect to certain matters. Indemnification may include losses from the breach of such agreements, services the Company provides or third-party intellectual property infringement claims. These indemnifications may survive termination of the underlying agreement and the maximum potential amount of future indemnification payments may not be subject to a cap.

Segment Information - Long-Lived Tangible Assets and Operating Lease Right-Of-Use-Assets by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived tangible assets and operating lease right-of-use-assets	$ 54,596	$ 53,399
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived tangible assets and operating lease right-of-use-assets	$ 14,655	$ 9,513

Operating Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Cash payments included in operating cash flows for lease arrangements	$ 9,102	$ 7,410	$ 6,119
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 9,420	$ 17,372	$ 1,013

Provision for Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision (Benefit)

Income tax provision (benefit) consisted of the following:


	Year Ended December 31,
(in thousands)	2023		2024		2025
Current:
U.S. Federal	$	11,640	$	19,279	$	702
U.S. State	3,381		4,993		291
International	307		378		1,265
Total current provision	15,328		24,650		2,258
Deferred:
U.S. Federal	(37)		(921)		(17,454)
U.S. State	(112)		(95)		(2,133)
International	(102)		(255)		289
Total deferred benefit	(251)		(1,271)		(19,298)
Provision (benefit) for income taxes	$	15,077	$	23,379	$	(17,040)

Schedule of Income Before Income Taxes

U.S. and international components of income before income taxes are as follows:


	Year Ended December 31,
(in thousands)	2023		2024		2025
U.S. Federal & State	$	62,229	$	98,640	$	12,513
International	(5,888)		(7,405)		(13,307)
Income (loss) before income taxes	$	56,341	$	91,235	$	(794)

Schedule of Tabular Rate Reconciliation

Below is a tabular rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025. The individual tax effect of foreign jurisdictions were not material for purposes of disaggregation for the year ended December 31, 2025:


	Year Ended December 31, 2025
(in thousands)	Amount		Percent
Income taxes computed at the federal statutory rate	$	(167)	21.0	%
State taxes, net of federal benefits(1)	(1,913)		240.9	%
Foreign tax effects	4,348		(547.6)	%
Tax Credits
Research and development credits (net of UTBs)	(3,409)		429.3	%
Stock-based compensation tax benefit	(26,356)		3,319.4	%
Other	253		(31.9)	%
Non-taxable or non-deductible items:
Stock amendment expense	6,862		(864.2)	%
162(m) limitation	3,342		(420.9)	%
Benefit for income taxes	$	(17,040)	2,146.1	%

__________

(1)State taxes and local taxes in California, New York, Illinois, and Florida comprise the majority of this category.

The items accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes are as follows for the year ended December 31, 2023 and 2024:


	Year Ended December 31,
(in thousands)	2023		2024
Income taxes computed at the federal statutory rate	$	11,819	$	19,160
Effect of:
Tax impact of foreign earnings	(236)		(490)
State taxes, net of federal benefits	2,566		3,822
Permanent differences	(61)		(554)
Change in valuation allowance	1,828		2,092
Uncertain tax positions	184		(15)
Research & development tax credit	(663)		(608)
Provision to return adjustments	(360)		(28)
Provision for income taxes	$	15,077	$	23,379

Schedule of Income Taxes Paid by Jurisdiction

Below is a summary of income taxes paid by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025:



(in thousands)	Year Ended December 31, 2025
U.S. Federal	$	13,500
U.S. State and local	3,716
Foreign:
India	1,115
Other	137
Cash paid for income taxes	$	18,468

Schedule of Deferred Income Tax Assets and Liabilities

Deferred income tax assets consisted of the following as of:


	December 31,
(in thousands)	2024		2025
Deferred tax assets:
Net operating losses	$	7,303	$	22,048
Stock-based compensation	—		10,862
Research & development credits	710		5,134
Inventory (UNICAP)	4,248		5,011
Operating lease liabilities	5,387		4,529
Accrued liabilities	3,132		2,439
Capitalized research costs	4,929		—
Other	10		23
Valuation allowance	(7,505)		(13,972)
Deferred tax assets	18,214		36,074
Deferred tax liabilities:
Depreciation and amortization	(5,046)		(5,727)
Operating lease right-of-use asset	(5,048)		(4,118)
Capitalized research costs	—		(1,482)
Prepaid expenses and other	(175)		(395)
Deferred tax liabilities	(10,269)		(11,722)
Net deferred tax assets	$	7,945	$	24,352

Schedule of Changes in Valuation Allowance

Changes in the valuation allowance are detailed in the table below:


	December 31,
(in thousands)	2024		2025
Valuation allowance, beginning of period	$	5,090	$	7,505
Additions to valuation allowance	2,415		6,673
Reduction to valuation allowance	—		(206)
Valuation allowance, ending balance	$	7,505	$	13,972

Schedule of Net Operating Loss Carryovers

The Company has net operating loss carryovers by jurisdiction as follows:


	December 31, 2025
(in thousands)	Amount		Expiration (year)
Federal	$	40,457	N/A
U.S. State	$	26,968	Various
Australia	$	1,562	N/A
China	$	4,002	2026
Czech Republic	$	3,047	2026
Germany	$	15,236	N/A
Singapore	$	3,491	N/A
United Kingdom	$	15,135	N/A


Other	$	369	Various

Schedule of Tax Credit Carryover

The Company has the following tax credit carryover amounts:


	December 31, 2025
(in thousands)	Amount		Expiration (year)
Federal research & development	$	3,409	2045
Utah research & development	$	2,569	2033

Schedule of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to unrecognized tax benefits:


	December 31,
(in thousands)	2024		2025
Unrecognized tax benefits, beginning of period	$	505	$	513
Increase (decrease) to unrecognized tax benefits taken in prior years	24		65
Increase to unrecognized tax benefits related to the current year	116		684
Decrease due to lapse of statute of limitations	(132)		(68)
Unrecognized tax benefits, end of period	$	513	$	1,194

Summary of Significant Accounting Policies - Schedule of Computation of Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Net income	$ 16,246	$ 67,856	$ 41,264
Reversal of cumulative Series B Preferred Stock undeclared dividends upon redemption of Series B Preferred Stock	(67,350)	0	0
Deemed dividend for redemption of Series B Preferred Stock	231,281	0	0
Net income (loss) attributable to common stockholders	$ (156,607)	$ 42,491	$ 19,831
Weighted-average shares outstanding:
Basic (in shares)	114,998	90,769	90,767
Diluted (in shares)	114,998	90,769	90,767
Net income (loss) attributable to common stockholders
Basic (in dollars per share)	$ (1.36)	$ 0.47	$ 0.22
Diluted (in dollars per share)	$ (1.36)	$ 0.47	$ 0.22
Series A Preferred Stock
Class of Stock [Line Items]
Income allocable to participating Series A Preferred Stock and Series B Preferred Stock dividend - undeclared	$ 0	$ 7,373	$ 3,441
Series B Preferred Stock
Class of Stock [Line Items]
Income allocable to participating Series A Preferred Stock and Series B Preferred Stock dividend - undeclared	8,922	$ 17,992	$ 17,992
Deemed dividend for redemption of Series B Preferred Stock	$ 163,900

Business Acquisitions - Narrative (Details)	Dec. 18, 2025	Dec. 01, 2025
ROI Hunter
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Business acquisition percentage		100.00%
iDesign
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Business acquisition percentage	100.00%

Property and Equipment, net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment, net

3. Property and Equipment, net

Property and equipment consisted of the following:


	December 31,
(in thousands)	2024		2025
Internal-use software	$	31,353	$	42,459
Machinery and equipment	6,394		13,403
Computer equipment	5,435		7,625
Leasehold improvements	4,459		6,849
Land	3,984		3,984
Furniture and fixtures	2,677		3,501
Purchased Software	1,296		1,301
Assets under construction	4,147		503
Buildings	334		334
Vehicles	56		90
Total property and equipment	60,135		80,049
Less: accumulated depreciation and amortization	(25,100)		(38,962)
Property and equipment, net	$	35,035	$	41,087

Depreciation and amortization expense related to property and equipment was $8.4 million, $11.8 million and $14.3 million for the year ended December 31, 2023, 2024 and 2025, respectively.

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Weighted Average Remaining Lease Term and Discount Rate

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:


	December 31,
	2024		2025
Weighted-average remaining lease term	7.8 years		6.0 years
Weighted-average discount rate	6.13	%	6.44	%

Schedule of Operating Lease Maturity

The future minimum lease payments under the Company’s operating lease liabilities as of December 31, 2025 is as follows:


(in thousands)	Amount
2026	$	10,498
2027	6,601
2028	4,787
2029	3,773
2030	2,097
Thereafter	10,761
Total undiscounted lease payments	38,517
Less: imputed interest	7,682
Present value of lease liabilities	30,835
Less: operating lease liabilities, current	(8,826)
Operating lease liabilities, non-current	$	22,009

Schedule of Supplemental Cash Flow Information Related to Operating Leases

The following table provides a summary of supplemental cash flow information related to our operating leases:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Cash payments included in operating cash flows for lease arrangements		$	6,119	$	7,410	$	9,102
Right-of-use assets obtained in exchange for new operating lease liabilities		$	1,013	$	17,372	$	9,420

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue by Source of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 2,501,315	$ 1,796,161	$ 1,366,417
Amazon.com
Disaggregation of Revenue [Line Items]
Revenues	2,147,186	1,579,056	1,209,267
Amazon marketplaces, international
Disaggregation of Revenue [Line Items]
Revenues	170,758	102,396	59,744
Other online marketplaces and channels
Disaggregation of Revenue [Line Items]
Revenues	151,012	94,197	78,384
SaaS, logistics and other revenue
Disaggregation of Revenue [Line Items]
Revenues	$ 32,359	$ 20,512	$ 19,022

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 9: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Dec. 31, 2025 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Other Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Other Assets And Liabilities [Abstract]

Schedule of Other Non-Current Assets

Other non-current assets consisted of the following:


	December 31,
(in thousands)	2024		2025
Deferred tax asset, net	$	7,976	$	27,013
Security deposits	2,605		4,337
Other assets	3		—
Other non-current assets	$	10,584	$	31,350

Schedule of Other Non-Current Liabilities

Other non-current liabilities consisted of the following:


	December 31,
(in thousands)	2024		2025
Tax liabilities	$	418	$	3,567
Deferred acquisition consideration	—		1,628
Payroll liabilities	4,885		—
Other liabilities	—		898
Other non-current liabilities	$	5,303	$	6,093

Provision for Income Taxes - Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
U.S. Federal	$ 702	$ 19,279	$ 11,640
U.S. State	291	4,993	3,381
International	1,265	378	307
Total current provision	2,258	24,650	15,328
Deferred:
U.S. Federal	(17,454)	(921)	(37)
U.S. State	(2,133)	(95)	(112)
International	289	(255)	(102)
Total deferred benefit	(19,298)	(1,271)	(251)
Provision (benefit) for income taxes	$ (17,040)	$ 23,379	$ 15,077

Business Acquisitions - Schedule of Identifiable Intangible Assets Acquired and Estimated Useful Lives (Details) - ROI Hunter and iDesign $ in Thousands	1 Months Ended
	Dec. 18, 2025 USD ($)
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Acquisition Date Fair Value	$ 13,628
Developed technology
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Acquisition Date Fair Value	$ 5,425
Useful Life at Acquisition (in years)	3 years
Customer relationships
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Acquisition Date Fair Value	$ 4,391
Customer relationships \| Minimum
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Useful Life at Acquisition (in years)	1 year
Customer relationships \| Maximum
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Useful Life at Acquisition (in years)	5 years
Tradenames
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Acquisition Date Fair Value	$ 1,538
Useful Life at Acquisition (in years)	5 years
Non-competition agreements
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Acquisition Date Fair Value	$ 2,274
Useful Life at Acquisition (in years)	3 years

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2025	Dec. 31, 2024
Convertible Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Convertible Preferred stock, shares authorized (in shares)	0	28,972
Convertible Preferred stock, shares issued (in shares)	0	28,966
Convertible Preferred stock, shares outstanding (in shares)	0	28,966
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	200,000	88,869
Preferred stock, shares issued (in shares)	0	86,792
Preferred stock, shares outstanding (in shares)	0	86,792
Series A Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	2,200,000	0
Common stock, shares issued (in shares)	154,691	0
Common stock, shares outstanding (in shares)	154,691	0
Series B Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000	0
Common stock, shares issued (in shares)	21,703	0
Common stock, shares outstanding (in shares)	21,703	0
Common Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	0	140,287
Common stock, shares issued (in shares)	0	3,799
Common stock, shares outstanding (in shares)	0	3,799

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

The estimated useful lives of property and equipment are as follows:


			Useful life
Furniture and fixtures			5 years
Machinery and equipment			4-10 years
Computer equipment			3 years
Internal-use software			3 years
Buildings			30 years
Vehicles			4 years

Property and equipment consisted of the following:


	December 31,
(in thousands)	2024		2025
Internal-use software	$	31,353	$	42,459
Machinery and equipment	6,394		13,403
Computer equipment	5,435		7,625
Leasehold improvements	4,459		6,849
Land	3,984		3,984
Furniture and fixtures	2,677		3,501
Purchased Software	1,296		1,301
Assets under construction	4,147		503
Buildings	334		334
Vehicles	56		90
Total property and equipment	60,135		80,049
Less: accumulated depreciation and amortization	(25,100)		(38,962)
Property and equipment, net	$	35,035	$	41,087

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities

The following table summarizes by level, within the fair value hierarchy, the Company’s assets and liabilities measured at fair value on a recurring basis:


	December 31, 2024
(in thousands)	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	139,500	$	—	$	—


	December 31, 2025
(in thousands)	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	243,663	$	—	$	—

Provision for Income Taxes - Income Taxes Paid by Jurisdiction (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
U.S. Federal	$ 13,500
U.S. State and local	3,716
Foreign:
Cash paid for income taxes	18,468	$ 21,345	$ 18,861
India
Foreign:
Foreign	1,115
Other
Foreign:
Foreign	$ 137

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 16,246	$ 67,856	$ 41,264
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,800	14,811	12,102
Stock-based compensation	97,288	0	(206)
Stock amendment expense	32,676	0	0
Deferred income taxes	(18,792)	(1,279)	(74)
Contingent consideration benefit	0	0	(1,220)
Other	1,750	32	0
Changes in operating assets and liabilities:
Accounts receivable, net of allowance	(67,715)	(30,811)	(1,537)
Inventory	(29,034)	(73,219)	(30,892)
Prepaid expenses and other current assets	(19,874)	(726)	(2,116)
Other non-current assets	(1,525)	(2,223)	(85)
Operating leases, net	424	158	80
Accounts payable	62,382	86,471	28,096
Accrued expenses	12,110	12,180	(4,721)
Other liabilities	(3,330)	(2,903)	785
Net cash provided by operating activities	99,406	70,347	41,476
Cash flows from investing activities:
Purchases of property and equipment	(20,482)	(20,450)	(14,498)
Acquisition of businesses, net of cash acquired	(19,296)	0	0
Proceeds from the sale of property and equipment	8	12	0
Net cash used in investing activities	(39,770)	(20,438)	(14,498)
Cash flows from financing activities:
Proceeds from sale of Common Stock, net of issuance costs	135,029	0	0
Payment of taxes withheld upon vesting of restricted stock	(80,999)	0	0
Repurchases of common stock	0	(2,901)	0
Other	(319)	0	0
Net cash provided by (used in) financing activities	53,711	(2,901)	0
Effect of exchange rates on cash and cash equivalents	87	1,374	1,077
Net change in cash and cash equivalents	113,434	48,382	28,055
Cash and cash equivalents at beginning of the period	175,615	127,233	99,178
Cash and cash equivalents at end of the period	289,049	175,615	127,233
Supplemental disclosure of cash flow information:
Cash paid for income taxes	18,468	21,345	18,861
Supplemental disclosure of non-cash financing activities:
Deemed dividend for Series B Preferred Stock recognized in retained earnings	(94,379)	0	0
Series A common stock issued upon conversion of Series A Preferred Stock
Supplemental disclosure of non-cash financing activities:
Common stock issued upon conversion and redemption	52,073	0	0
Series A common stock issued upon redemption of Series B Preferred Stock, net of cumulative undeclared dividends previously reported and deemed dividend recognized in additional paid-in capital (Note 10)
Supplemental disclosure of non-cash financing activities:
Common stock issued upon conversion and redemption	$ 312,907	$ 0	$ 0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenue by Source of Revenue

The following table presents the Company’s revenues disaggregated by source of revenue:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Amazon.com		$	1,209,267	$	1,579,056	$	2,147,186
Amazon marketplaces, international		59,744		102,396		170,758
Other online marketplaces and channels		78,384		94,197		151,012
SaaS, logistics and other revenue		19,022		20,512		32,359
Revenues		$	1,366,417	$	1,796,161	$	2,501,315

Schedule of Disaggregation of Revenue by Geography

The following table presents the Company’s revenues disaggregated by geography:


	Year Ended December 31,
(in thousands)		2023		2024		2025
U.S.		$	1,249,433	$	1,632,923	$	2,235,545
International		116,984		163,238		265,770
Revenues		$	1,366,417	$	1,796,161	$	2,501,315

Schedule of Additions and Deductions to Sales Return Allowance

The following table summarizes the additions and deductions to the Company’s sales return allowance:


	December 31,
(in thousands)	2024		2025
Balance, beginning of period	$	4,679	$	6,344
Increases to sales allowance	74,831		89,632
Customer returns	(73,166)		(91,318)
Balance, end of period	$	6,344	$	4,658

Schedule of Computation of Earnings (Loss) per Share

The following table sets forth the computation of earnings per share attributable to common stockholders:


	Year Ended December 31,
(in thousands, except per share data)		2023		2024		2025
Net income		$	41,264	$	67,856	$	16,246
Income allocable to participating Series A Preferred Stock		3,441		7,373		—
Series B Preferred Stock dividend - undeclared		17,992		17,992		8,922
Reversal of cumulative Series B Preferred Stock undeclared dividends upon redemption of Series B Preferred Stock		—		—		(67,350)
Deemed dividend for redemption of Series B Preferred Stock		—		—		231,281
Net income (loss) attributable to common stockholders		$	19,831	$	42,491	$	(156,607)
Weighted-average shares outstanding:








Basic and Diluted		90,767		90,769		114,998
Net income (loss) attributable to common stockholders


Basic and Diluted		$	0.22	$	0.47	$	(1.36)

Schedule of Antidilutive Instruments

The following instruments outstanding (prior to consideration of the treasury stock or if-converted methods) as of period end were not reflected in diluted EPS as their effect for the periods presented would be anti-dilutive or the instruments were not exercisable for potential common shares for the periods presented:


	Year Ended December 31,
(in thousands)		2023	2024	2025
Series B Preferred Stock		13,216	13,216	—
RSUs		15,149	17,589	8,088
ESPP		—	—	159

Schedule of Accounts Receivable, Net

The following table summarizes the Company’s accounts receivable balance:


	December 31,
(in thousands)	2024		2025
Amazon.com	$	54,246	$	85,842
Brand partner receivables	43,269		73,279
Other receivables	11,199		21,934
Allowance for doubtful accounts	(1,788)		(3,841)
Accounts receivable, net	$	106,926	$	177,214

Schedule of Allowance for Doubtful Accounts

The following table summarizes the additions and deductions to the Company’s allowance for doubtful accounts:


	December 31,
(in thousands)	2024		2025
Balance, beginning of period	$	2,022	$	1,788
Net change in allowance	667		2,542
Write-offs	(901)		(489)
Balance, end of period	$	1,788	$	3,841

Schedule of Property and Equipment

The estimated useful lives of property and equipment are as follows:


			Useful life
Furniture and fixtures			5 years
Machinery and equipment			4-10 years
Computer equipment			3 years
Internal-use software			3 years
Buildings			30 years
Vehicles			4 years

Property and equipment consisted of the following:


	December 31,
(in thousands)	2024		2025
Internal-use software	$	31,353	$	42,459
Machinery and equipment	6,394		13,403
Computer equipment	5,435		7,625
Leasehold improvements	4,459		6,849
Land	3,984		3,984
Furniture and fixtures	2,677		3,501
Purchased Software	1,296		1,301
Assets under construction	4,147		503
Buildings	334		334
Vehicles	56		90
Total property and equipment	60,135		80,049
Less: accumulated depreciation and amortization	(25,100)		(38,962)
Property and equipment, net	$	35,035	$	41,087

Schedule of Intangible Assets Estimated Useful Life

Intangible assets are recorded at cost and amortized on a straight-line basis over the estimated useful life:


			Useful life
Developed Technology			3-5 years
Customer relationships			1-10 years
Tradename			5-10 years
Non-competition agreements			2-3 years
Domain name			15 years

Intangible assets, net consisted of the following:


	December 31, 2024
(in thousands, except for years data)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	7,284	$	(4,026)	$	3,258	2.3
Customer relationships	3,619		(1,893)		1,726		3.8
Tradenames	3,111		(1,705)		1,406		4.0
Non-competition agreements	1,907		(1,535)		372		0.5
Domain names	234		(90)		144		9.3
Intangible assets, net	$	16,155	$	(9,249)	$	6,906


	December 31, 2025
(in thousands, except for years data)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	12,713	$	(5,482)	$	7,231	2.5
Customer relationships	5,036		(334)		4,702		4.6
Tradenames	3,964		(1,606)		2,358		4.4
Non-competition agreements	4,121		(1,847)		2,274		3.0
Domain names	234		(105)		129		8.0
Intangible assets, net	$	26,068	$	(9,374)	$	16,694

Provision for Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Valuation allowance	$ 13,972	$ 7,505	$ 5,090
Unrecognized tax benefits that affect the effective tax rate if recognized	$ 1,200	$ 500	$ 500

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

9. Fair Value Measurements

The following table summarizes by level, within the fair value hierarchy, the Company’s assets and liabilities measured at fair value on a recurring basis:


	December 31, 2024
(in thousands)	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	139,500	$	—	$	—


	December 31, 2025
(in thousands)	Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	243,663	$	—	$	—

The Company’s remaining liabilities measured at fair value on a recurring basis were immaterial for the periods presented.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Credit Facilities (Details) - Revolving Credit Facility - Line of Credit - Credit Agreement $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)
Line of Credit Facility [Line Items]
Outstanding balance	$ 0.0
Amount available to draw	$ 150.0
Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Commitment fee percentage	0.20%
Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Commitment fee percentage	0.25%

Summary of Significant Accounting Policies - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts	$ (3,841)	$ (1,788)	$ (2,022)
Accounts receivable, net	177,214	106,926
Amazon.com
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	85,842	54,246
Brand partner receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	73,279	43,269
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 21,934	$ 11,199

Summary of Significant Accounting Policies - Schedule of Antidilutive Instruments (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Series B Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive instruments excluded from diluted EPS (in shares)	0	13,216	13,216
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive instruments excluded from diluted EPS (in shares)	8,088	17,589	15,149
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive instruments excluded from diluted EPS (in shares)	159	0	0

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenues	$ 2,501,315	$ 1,796,161	$ 1,366,417
Operating expenses:
Cost of goods sold	1,410,869	1,014,812	765,203
Operations, general and administrative	523,060	338,508	276,272
Sales and marketing	495,687	337,672	257,513
Research and development	46,293	17,987	14,644
Total operating expenses	2,475,909	1,708,979	1,313,632
Operating income	25,406	87,182	52,785
Stock amendment expense (Note 11)	(32,676)	0	0
Interest income	7,653	6,164	2,882
Interest expense	(231)	(98)	(33)
Other income (expense), net	(946)	(2,013)	707
Income (loss) before income taxes	(794)	91,235	56,341
Provision (benefit) for income taxes	(17,040)	23,379	15,077
Net income	16,246	67,856	41,264
Adjustments to net income attributable to common stockholders (Note 2)	172,853	25,365	21,433
Net income (loss) attributable to common stockholders	$ (156,607)	$ 42,491	$ 19,831
Net earnings (loss) per share attributable to common stockholders (Note 2):
Basic (in dollars per share)	$ (1.36)	$ 0.47	$ 0.22
Diluted (in dollars per share)	$ (1.36)	$ 0.47	$ 0.22
Weighted-average common shares outstanding:
Basic (in shares)	114,998	90,769	90,767
Diluted (in shares)	114,998	90,769	90,767

Convertible Preferred Stock

12 Months Ended

Dec. 31, 2025

Temporary Equity Disclosure [Abstract]

Convertible Preferred Stock

10. Convertible Preferred Stock

In September 2025, the Company completed its IPO of shares of Series A common stock. Immediately prior to the completion of the IPO, 15,750,477 shares of Series A Preferred Stock were converted into an aggregate of 15,750,477 shares of Series A common stock in accordance with the original fixed-price conversion feature of the Series A Preferred Stock. Accordingly, the conversion of the Series A Preferred Stock was accounted for as a conversion with no gain, loss or deemed dividend recognized.

In addition, immediately prior to the completion of the IPO, 13,215,614 shares of Series B Preferred Stock were converted into an aggregate of 32,129,232 shares of Series A common stock in accordance with the original fixed-percentage conversion feature based on the IPO price, after giving effect to the Series B conversion rights. Under the Series B conversion rights, each share of Series B Preferred Stock converted into a number of shares of Series A common stock determined by dividing the original issue price of such share by the lesser of (a) the original issue price of such share (subject to certain anti-dilution adjustments) and (b) the IPO price per share discounted by 50.0% (the “Series B Preferred Special Conversion Ratio”). Accordingly, the conversion of the Series B Preferred Stock was accounted for as a redemption. As a result of this redemption feature, the fair value of the Series A common stock issued exceeded the carrying amount of the Series B Preferred Stock redeemed, resulting in a non-cash deemed dividend of $163.9 million during the year ended December 31, 2025, inclusive of a $67.4 million adjustment for cumulative undeclared dividends previously reported through June 30, 2025. The deemed dividend reduced earnings available to common shareholders in EPS and reduced retained earnings by $94.4 million as of December 31, 2025 with the residual amount charged against additional paid-in capital as the Company did not have sufficient retained earnings to absorb the full amount of the deemed dividend at the time of redemption.

The holders of the Company’s Series A Preferred Stock and Series B Preferred Stock (collectively, “Convertible Preferred Stock”) had certain voting, dividend and redemption rights, as well as liquidation preferences and conversion privileges, in respect of the Convertible Preferred Stock. All of such rights, preferences and privileges associated with the Convertible Preferred Stock were terminated at the time of the Company’s IPO in conjunction with the conversion and redemption mentioned above.

The following table summarizes redeemable Convertible Preferred Stock prior to the conversion into common stock upon completion of the IPO:



(in thousands, except per share data)	Original Issuance Date	Shares authorized	Shares issued and outstanding	Issuance price per share		Aggregate liquidation preference		Net carrying value
Series A Preferred Stock	May 2020	15,750	15,750	$	7.44	$	117,184	$	52,073
Series B Preferred Stock	September 2021	13,222	13,216	17.01		292,255		218,528
Total		28,972	28,966			$	409,439	$	270,601

Dividends

The holders of Series B Preferred Stock were entitled to cumulative dividends at a rate of 8.0% of the original issue price, or $17.01 per share, if and when declared by the Company’s board of directors. The holders of Series B Preferred Stock were entitled to receive dividends on a pari passu basis, prior to and in preference to any dividends to common stockholders. After the IPO and conversion, these dividend rights ceased, and there were no accrued and unpaid dividends as of December 31, 2025.

There were no dividends declared or paid during the years ended December 31, 2024 and 2025.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Business Acquisitions

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Business Acquisitions

4. Business Acquisitions

On December 1, 2025, the Company completed the acquisition of 100% of the outstanding stock of ROI Hunter a.s., a Czech joint stock corporation (“ROI Hunter”). The acquisition of ROI Hunter expands the Company’s product offerings and enhances its market presence in the advertising intelligence platform sector. On December 18, 2025, the Company completed the acquisition of 100% of the outstanding stock of iDesign Technology USA LLC (“iDesign”). The acquisition of iDesign expands the Company’s product offerings and enhances its market presence in the digital media, influencer marketing and content-creation sectors. These transactions are expected to generate synergies through the integration of the acquired proprietary technologies and customer relationships. These acquisitions were accounted for as a business combination in accordance with ASC 805, Business Combinations.

The following tables summarize the consideration paid for the acquired entities and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date:


(in thousands)	Amount
Cash	$	25,120
Deferred acquisition consideration	1,628
Fair value of total consideration transferred	$	26,748


(in thousands)	Amount
Cash and cash equivalents	$	5,824
Accounts receivable	2,574
Prepaid expenses and other	263
Property and equipment	120
Intangible assets	13,628
Other non-current assets	206
Accounts payable	(931)
Accrued liabilities	(3,863)
Deferred tax liabilities	(2,904)
Total identifiable net assets	$	14,917
Goodwill	11,831
Fair value of total consideration transferred	$	26,748

The deferred acquisition consideration represents a liability for indemnification holdbacks that is expected to be paid to the sellers through annual installments ending in December 2028, subject to adjustment under the terms of the agreement.

The goodwill acquired represents the excess of the purchase price over the fair value of net identifiable assets acquired and is attributable to expected synergies, assembled workforce and future growth opportunities. The goodwill acquired is not deductible for tax purposes.

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:


(in thousands, except for years data)	Acquisition Date Fair Value		Useful Life at Acquisition (in years)
Developed technology	$	5,425	3
Customer relationships	4,391		1-5
Tradenames	1,538		5
Non-competition agreements	2,274		3

Intangible assets, net	$	13,628

The fair values of the acquired intangible assets are provisional pending receipt of the final valuations for those assets. The financial results of ROI Hunter and iDesign from their respective acquisition dates through December 31, 2025, were not material to our Consolidated Statements of Operations, nor were they material to our prior period consolidated results on a pro forma basis. Costs related to the ROI Hunter and iDesign acquisitions were not material to our Consolidated Statements of Operations.

- Definition

The entire disclosure for business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 38
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-38

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 46
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-46

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 43
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-43

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 45
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-45

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 29
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-29

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 29
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-29

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-4

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 40
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479326/805-40-45-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-30/tableOfContent

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-20/tableOfContent

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-7

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-5

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-10/tableOfContent

+ Details

Provision for Income Taxes - Tax Credit Carryover (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Federal
Income Tax Contingency [Line Items]
Research & development	$ 3,409
Utah research & development
Income Tax Contingency [Line Items]
Research & development	$ 2,569

Provision for Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Provision for Income Taxes

13. Provision for Income Taxes

Income tax provision (benefit) consisted of the following:


	Year Ended December 31,
(in thousands)	2023		2024		2025
Current:
U.S. Federal	$	11,640	$	19,279	$	702
U.S. State	3,381		4,993		291
International	307		378		1,265
Total current provision	15,328		24,650		2,258
Deferred:
U.S. Federal	(37)		(921)		(17,454)
U.S. State	(112)		(95)		(2,133)
International	(102)		(255)		289
Total deferred benefit	(251)		(1,271)		(19,298)
Provision (benefit) for income taxes	$	15,077	$	23,379	$	(17,040)

U.S. and international components of income before income taxes are as follows:


	Year Ended December 31,
(in thousands)	2023		2024		2025
U.S. Federal & State	$	62,229	$	98,640	$	12,513
International	(5,888)		(7,405)		(13,307)
Income (loss) before income taxes	$	56,341	$	91,235	$	(794)


	Year Ended December 31, 2025
(in thousands)	Amount		Percent
Income taxes computed at the federal statutory rate	$	(167)	21.0	%
State taxes, net of federal benefits(1)	(1,913)		240.9	%
Foreign tax effects	4,348		(547.6)	%
Tax Credits
Research and development credits (net of UTBs)	(3,409)		429.3	%
Stock-based compensation tax benefit	(26,356)		3,319.4	%
Other	253		(31.9)	%
Non-taxable or non-deductible items:
Stock amendment expense	6,862		(864.2)	%
162(m) limitation	3,342		(420.9)	%
Benefit for income taxes	$	(17,040)	2,146.1	%

__________

(1)State taxes and local taxes in California, New York, Illinois, and Florida comprise the majority of this category.


	Year Ended December 31,
(in thousands)	2023		2024
Income taxes computed at the federal statutory rate	$	11,819	$	19,160
Effect of:
Tax impact of foreign earnings	(236)		(490)
State taxes, net of federal benefits	2,566		3,822
Permanent differences	(61)		(554)
Change in valuation allowance	1,828		2,092
Uncertain tax positions	184		(15)
Research & development tax credit	(663)		(608)
Provision to return adjustments	(360)		(28)
Provision for income taxes	$	15,077	$	23,379

Below is a summary of income taxes paid by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025:



(in thousands)	Year Ended December 31, 2025
U.S. Federal	$	13,500
U.S. State and local	3,716
Foreign:
India	1,115
Other	137
Cash paid for income taxes	$	18,468

Deferred income tax assets consisted of the following as of:


	December 31,
(in thousands)	2024		2025
Deferred tax assets:
Net operating losses	$	7,303	$	22,048
Stock-based compensation	—		10,862
Research & development credits	710		5,134
Inventory (UNICAP)	4,248		5,011
Operating lease liabilities	5,387		4,529
Accrued liabilities	3,132		2,439
Capitalized research costs	4,929		—
Other	10		23
Valuation allowance	(7,505)		(13,972)
Deferred tax assets	18,214		36,074
Deferred tax liabilities:
Depreciation and amortization	(5,046)		(5,727)
Operating lease right-of-use asset	(5,048)		(4,118)
Capitalized research costs	—		(1,482)
Prepaid expenses and other	(175)		(395)
Deferred tax liabilities	(10,269)		(11,722)
Net deferred tax assets	$	7,945	$	24,352

The Company recorded a valuation allowance of $7.5 million and $14.0 million as of December 31, 2024 and 2025, respectively, to reduce its deferred tax assets related to foreign net operating losses and Utah state research and development tax credits to their net realizable value. The Company has determined that as a result of uncertainty related to the usability of the net operating loss and research and development benefits a valuation allowance was required. Changes in the valuation allowance are detailed in the table below:


	December 31,
(in thousands)	2024		2025
Valuation allowance, beginning of period	$	5,090	$	7,505
Additions to valuation allowance	2,415		6,673
Reduction to valuation allowance	—		(206)
Valuation allowance, ending balance	$	7,505	$	13,972

The Company has net operating loss carryovers by jurisdiction as follows:


	December 31, 2025
(in thousands)	Amount		Expiration (year)
Federal	$	40,457	N/A
U.S. State	$	26,968	Various
Australia	$	1,562	N/A
China	$	4,002	2026
Czech Republic	$	3,047	2026
Germany	$	15,236	N/A
Singapore	$	3,491	N/A
United Kingdom	$	15,135	N/A


Other	$	369	Various

The Company has the following tax credit carryover amounts:


	December 31, 2025
(in thousands)	Amount		Expiration (year)
Federal research & development	$	3,409	2045
Utah research & development	$	2,569	2033

The Company recognizes tax benefits from uncertain tax positions when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The following table summarizes the activity related to unrecognized tax benefits:


	December 31,
(in thousands)	2024		2025
Unrecognized tax benefits, beginning of period	$	505	$	513
Increase (decrease) to unrecognized tax benefits taken in prior years	24		65
Increase to unrecognized tax benefits related to the current year	116		684
Decrease due to lapse of statute of limitations	(132)		(68)
Unrecognized tax benefits, end of period	$	513	$	1,194

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate were $0.5 million, $0.5 million and $1.2 million for the years ended December 31, 2023, 2024 and 2025, respectively. The Company records interest and penalties associated with unrecognized tax benefits as a component of income tax expense. The amount of accrued penalties and interest included in the total balance of unrecognized tax benefits is insignificant in 2024 and 2025. The Company is generally no longer subject to income tax examinations by federal jurisdictions for years before 2022, state and local years before 2021 and foreign years before 2020.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Business Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 18, 2025	Dec. 31, 2024	Dec. 31, 2023
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Deferred tax liabilities	$ (1,628)		$ 0
Goodwill	$ 37,769		$ 25,938	$ 25,938
ROI Hunter and iDesign
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Cash and cash equivalents		$ 5,824
Accounts receivable		2,574
Prepaid expenses and other		263
Property and equipment		120
Intangible assets		13,628
Other non-current assets		206
Accounts payable		(931)
Accrued liabilities		(3,863)
Deferred tax liabilities		(2,904)
Total identifiable net assets		14,917
Goodwill		11,831
Fair value of total consideration transferred		$ 26,748

Operating Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Operating Leases

7. Operating Leases

The Company has entered into various non-cancelable operating lease agreements, primarily for the use of office and warehouse space, expiring at various dates through 2037. The Company’s right-of-use assets and lease liability include options to extend or terminate the lease when it is reasonably certain they will be exercised. The Company considers these options in determining the lease term on a lease-by-lease basis. The Company separately accounts for lease components and non-lease components. None of the Company’s lease agreements contain material non-lease components, residual value guarantees or restrictive covenants. The Company has elected an accounting policy to not recognize short-term leases, which have a lease term of twelve months or less, on the consolidated balance sheets. The Company does not have any material short-term lease cost or leases with variable lease costs. Lease expense primarily related to operating lease costs and were included within operations, general and administrative and sales and marketing expenses in the consolidated statements of operations. The Company recorded lease expense of $5.6 million, $7.1 million and $9.3 million for the years ended December 31, 2023, 2024 and 2025, respectively.

Lease Term and Discount Rate

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:


	December 31,
	2024		2025
Weighted-average remaining lease term	7.8 years		6.0 years
Weighted-average discount rate	6.13	%	6.44	%

Maturity of Lease Liabilities

The future minimum lease payments under the Company’s operating lease liabilities as of December 31, 2025 is as follows:


(in thousands)	Amount
2026	$	10,498
2027	6,601
2028	4,787
2029	3,773
2030	2,097
Thereafter	10,761
Total undiscounted lease payments	38,517
Less: imputed interest	7,682
Present value of lease liabilities	30,835
Less: operating lease liabilities, current	(8,826)
Operating lease liabilities, non-current	$	22,009

The following table provides a summary of supplemental cash flow information related to our operating leases:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Cash payments included in operating cash flows for lease arrangements		$	6,119	$	7,410	$	9,102
Right-of-use assets obtained in exchange for new operating lease liabilities		$	1,013	$	17,372	$	9,420

Convertible Preferred Stock - Schedule of Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 31, 2025	Sep. 21, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Shares authorized (in shares)	0	28,972	28,972
Shares issued (in shares)	0	28,966	28,966	28,966	28,966
Shares outstanding (in shares)	0	28,966	28,966
Aggregate liquidation preference		$ 409,439
Net carrying value	$ 0	$ 270,601	$ 270,601	$ 270,601	$ 270,601
Series A Preferred Stock
Class of Stock [Line Items]
Shares authorized (in shares)		15,750
Shares issued (in shares)		15,750
Shares outstanding (in shares)		15,750
Issuance price per share (in dollars per share)		$ 7.44
Aggregate liquidation preference		$ 117,184
Net carrying value		$ 52,073
Series B Preferred Stock
Class of Stock [Line Items]
Shares authorized (in shares)		13,222
Shares issued (in shares)		13,216
Shares outstanding (in shares)		13,216
Issuance price per share (in dollars per share)	$ 17.01	$ 17.01
Aggregate liquidation preference		$ 292,255
Net carrying value		$ 218,528

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 30
-Name Accounting Standards Codification
-Section S55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479772/718-30-S55-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (01)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.E.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479830/718-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

+ Details

Property and Equipment, net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense related to property and equipment	$ 14.3	$ 11.8	$ 8.4

Credit Facilities	12 Months Ended
Credit Facilities	Dec. 31, 2025
Debt Disclosure [Abstract]
Credit Facilities	8. Credit Facilities The Company is party to a revolving credit facility with JPMorgan Chase Bank, N.A. and other lenders pursuant to the Credit Agreement, dated September 4, 2025. The outstanding balance under the Company’s revolving line of credit facility was zero as of December 31, 2025 and the amount available to draw to was $150.0 million as of December 31, 2025. The revolving line of credit has a maturity date in September 2030 and will bear interest at a variable base rate plus an applicable margin ranging from 0.50% to 2.00%. The commitment fees on the unused portion range from 0.20% to 0.25%. The Company’s credit agreement contains various financial, affirmative and negative covenants. As of December 31, 2025, the Company was in compliance with all covenants outlined in the agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
Benefit Plan (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Total contribution	$ 2.7	$ 2.5	$ 2.0
Defined Contribution Plan Tranche One
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match	100.00%
Percent of employees gross pay for employer matching contribution	3.00%
Defined Contribution Plan Tranche Two
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match	50.00%
Minimum \| Defined Contribution Plan Tranche Two
Defined Benefit Plan Disclosure [Line Items]
Percent of employees gross pay for employer matching contribution	3.00%
Maximum \| Defined Contribution Plan Tranche Two
Defined Benefit Plan Disclosure [Line Items]
Percent of employees gross pay for employer matching contribution	5.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (j)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (m)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

+ Details

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 2,501,315	$ 1,796,161	$ 1,366,417
U.S.
Disaggregation of Revenue [Line Items]
Revenues	2,235,545	1,632,923	1,249,433
International
Disaggregation of Revenue [Line Items]
Revenues	$ 265,770	$ 163,238	$ 116,984

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 97,288	$ 0	$ (206)
Operations, general and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	52,530	0	(206)
Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	24,716	0	0
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation	$ 20,042	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Stockholders' Equity

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Stockholders' Equity

11. Stockholders’ Equity

Common Stock

In September 2025, the Company completed its IPO of shares of Series A common stock and all of the Company’s then-outstanding shares of common stock were reclassified into shares of Series A common stock. The Company sold 10,714,286 shares of its Series A common stock in connection with the IPO and has recognized $135.0 million in proceeds, after deducting $10.5 million of underwriting discounts and commissions and $4.5 million of offering costs.

The Company has two series of common stock: Series A common stock with a par value of $0.001 per share and Series B common stock with a par value of $0.001 per share. The rights of the holders of Series A common stock and Series B common stock are identical, except with respect to voting and conversion rights. Each share of Series A common stock is entitled to one vote. Each share of Series B common stock is entitled to 20 votes and is convertible at any time into one share of Series A common stock. Holders of common stock are entitled to receive any dividends as may be declared by the board of directors.

Preferred Stock

In connection with the completion of the IPO, 17,797,821 shares of Founder Voting Preferred Stock, $0.001 par value per share, were reclassified and converted into an aggregate of 21,702,510 shares of Series B common stock, and 68,994,553 shares of Founder Non-Voting Preferred Stock, $0.001 par value per share, were reclassified and converted into an aggregate of 84,131,370 shares of Series A common stock, based on the IPO price, after giving effect to Founder Preferred Stock Amendment, as described below, and to certain transfers by the co-founder trusts to the co-founders.

Founder Preferred Stock Amendment

In August 2025, the Company, following approval by its board of directors, amended its Certificate of Incorporation to revise the conversion terms of the Founder Voting Preferred Stock and Founder Non-Voting Preferred Stock (collectively, the “Founder Preferred Stock”) (the “Founder Preferred Stock Amendment”). The revised terms provided that upon completion of an IPO, the Founder Preferred Stock would convert into Series B common stock or Series A common stock, as applicable, at a ratio that would limit the dilution impact on the holders of such stock to 3.33%, as a result of the special conversion ratio applicable to the Series B Preferred Stock in connection with an IPO, provided, no adjustment will be made for any incremental dilution that exceeds 9.00% (see Note 10—Convertible Preferred Stock for additional information on the Series B Preferred Stock conversion rights). If an IPO was not completed by December 31, 2025, the Founder Preferred Stock would have reverted to its original 1:1 conversion ratio into Series B common stock or Series A common stock, as applicable. The Founder Preferred Stock were considered to be common stock equivalents for purposes of calculating EPS given that they share equally with common stock in the liquidation of the Company’s net assets. Accordingly, the amended terms represented a non-pro rata distribution to the holders of the Founder Preferred Stock (“the Founder Preferred Stockholders”) and, as a result, the Company recognized a non-cash expense of $32.7 million for the incremental fair value associated with the modified terms within the caption stock amendment expense on our consolidated statement of operations. The conversion of the Founder Preferred Stock under the amended conversion rights was accounted for as an equity conversion with no gain, loss or deemed dividend recognized.

Common Stock Authorized, Issued and Reserved

The Company has reserved the following shares of common stock for future issuance:


(in thousands)															December 31, 2025


Shares available under the 2019 and 2025 Equity Incentive Plans															25,270
Shares available under the 2025 Employee Stock Purchase Plan															3,086
Total shares of common stock reserved															28,356
Common shares outstanding															176,394
Authorized but not reserved															2,095,250
Total common shares authorized															2,300,000

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Related-Party Lease Agreement	12 Months Ended
Related-Party Lease Agreement	Dec. 31, 2025
Related Party Transactions [Abstract]
Related-Party Lease Agreement	16. Related-Party Lease Agreement iServe Investments, LLC The Company leases certain office and warehouse space from a related party, iServe Investments, LLC, which is wholly owned by two majority stockholders. Total lease cost and related expenses for the lease was not material for the years ended December 31, 2023, 2024 and 2025.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounting Policies - Schedule of Property and Equipment (Details)	Dec. 31, 2025
Furniture and fixtures
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	5 years
Machinery and equipment \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	4 years
Machinery and equipment \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Computer equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Internal-use software
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Buildings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	30 years
Vehicles
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life (in years)	4 years

Operating Leases - Schedule of Operating Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Amount
2026	$ 10,498
2027	6,601
2028	4,787
2029	3,773
2030	2,097
Thereafter	10,761
Total undiscounted lease payments	38,517
Less: imputed interest	7,682
Present value of lease liabilities	30,835
Less: operating lease liabilities, current	(8,826)	$ (8,030)
Operating lease liabilities, non-current	$ 22,009	$ 22,095

Operating Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Lease expense	$ 9.3	$ 7.1	$ 5.6

Convertible Preferred Stock - Narrative (Details) - USD ($)		1 Months Ended	12 Months Ended
	Sep. 21, 2025	Sep. 30, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2025
Class of Stock [Line Items]
Non-cash deemed dividend			$ 231,281,000	$ 0	$ 0
Accrued and unpaid dividends			0
Series A Preferred Stock
Class of Stock [Line Items]
Conversions of stock (in shares)	(15,750,477)
Shares issued, price per share (in dollars per share)	$ 7.44
Series A Common Stock
Class of Stock [Line Items]
Conversions of stock (in shares)	15,750,477	84,131,370
Redemption of convertible securities (in shares)	32,129,232
Series B Preferred Stock
Class of Stock [Line Items]
Conversions of stock (in shares)	(13,215,614)
Percentage discount of initial public offering price	50.00%
Non-cash deemed dividend			$ 163,900,000
Cumulative undeclared dividends						$ 67,400,000
Cumulative dividend rate			8.00%
Shares issued, price per share (in dollars per share)	$ 17.01		$ 17.01
Series B Preferred Stock \| Retained Earnings
Class of Stock [Line Items]
Retained earnings			$ (94,400,000)

Goodwill & Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 26,068	$ 16,155
Accumulated Amortization	(9,374)	(9,249)
Net Book Value	16,694	6,906
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	12,713	7,284
Accumulated Amortization	(5,482)	(4,026)
Net Book Value	$ 7,231	$ 3,258
Weighted Average Remaining Useful Life (in years)	2 years 6 months	2 years 3 months 18 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 5,036	$ 3,619
Accumulated Amortization	(334)	(1,893)
Net Book Value	$ 4,702	$ 1,726
Weighted Average Remaining Useful Life (in years)	4 years 7 months 6 days	3 years 9 months 18 days
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,964	$ 3,111
Accumulated Amortization	(1,606)	(1,705)
Net Book Value	$ 2,358	$ 1,406
Weighted Average Remaining Useful Life (in years)	4 years 4 months 24 days	4 years
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 4,121	$ 1,907
Accumulated Amortization	(1,847)	(1,535)
Net Book Value	$ 2,274	$ 372
Weighted Average Remaining Useful Life (in years)	3 years	6 months
Domain name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 234	$ 234
Accumulated Amortization	(105)	(90)
Net Book Value	$ 129	$ 144
Weighted Average Remaining Useful Life (in years)	8 years	9 years 3 months 18 days

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense is classified within the corresponding operating expense categories in the consolidated statements of operations as follows:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Operations, general and administrative		$	(206)	$	—	$	52,530
Sales and marketing		—		—		24,716
Research and development		—		—		20,042
Total stock-based compensation		$	(206)	$	—	$	97,288

Schedule of RSU Activity

The following table summarizes the RSU activity (excluding the executive incentive agreement described below):


(in thousands, except per share fair values)	RSUs	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2022	12,801	$	2.16
Granted	3,100	$	7.67
Vested	—	$	—
Cancelled/Forfeited	(752)	$	2.85
Outstanding at December 31, 2023	15,149	$	3.26

Granted	3,399	$	12.94
Vested	—	$	—
Cancelled/Forfeited	(959)	$	7.72
Outstanding at December 31, 2024	17,589	$	4.88

Granted	5,393	$	16.30
Vested	(14,092)	$	3.65
Cancelled/Forfeited	(720)	$	12.43
Outstanding at December 31, 2025	8,170	$	13.89

Operating Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Weighted-average remaining lease term (in years)	6 years	7 years 9 months 18 days
Weighted-average discount rate	6.44%	6.13%

Provision for Income Taxes - Net Operating Loss Carryovers (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Federal
Income Tax Contingency [Line Items]
Amount	$ 40,457
U.S. State
Income Tax Contingency [Line Items]
Amount	26,968
Australia
Income Tax Contingency [Line Items]
Amount	1,562
China
Income Tax Contingency [Line Items]
Amount	4,002
Czech Republic
Income Tax Contingency [Line Items]
Amount	3,047
Germany
Income Tax Contingency [Line Items]
Amount	15,236
Singapore
Income Tax Contingency [Line Items]
Amount	3,491
United Kingdom
Income Tax Contingency [Line Items]
Amount	15,135
Other
Income Tax Contingency [Line Items]
Amount	$ 369

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Salt Lake City, Utah

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and include the accounts of the Company and its subsidiaries.
Consolidation	All intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions in the Company’s consolidated financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments. Estimates are used for, but not limited to, determining the net realizable value and demand for inventory, allowance for sales returns, allowance for doubtful accounts, valuation allowances with respect to deferred tax assets, fair value of reporting units used in evaluation of goodwill impairment, the fair value of assets acquired and liabilities assumed in business combinations, the valuation of stock-based awards, the fair value of common stock and the incremental borrowing rate (“IBR”) used to measure operating lease liabilities. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from these estimates and any such differences may be material to the Company’s consolidated financial statements.
Revenue	Revenue The Company recognizes revenue primarily from product sales through domestic and international online marketplaces. Revenue is recognized on a gross basis as the Company is (i) the entity primarily responsible for fulfilling the promise to provide the specified products in the arrangement with the customer, (ii) has inventory risk before the products have been transferred to a customer and (iii) has discretion in establishing the price for the products sold on the online marketplaces. The Company evaluated principal versus agent considerations to determine whether it is appropriate to record seller fees paid by the Company to the marketplaces as an expense or as a reduction of revenue. Seller fees charged by third-party marketplaces are not recorded as a reduction of revenue as the Company owns and controls all goods before they are transferred to the end customer. The Company is responsible for ensuring the goods promised to the end consumer are delivered. The Company establishes the price of its products, determines who fulfills the goods to the customer (third-party online marketplaces or the Company) and can limit quantities or stop selling the goods at any time. Revenues are presented net of customer returns. Based on these considerations, the Company is the principal in these arrangements. A contract is created at the time the order is placed by the customer, which creates a single performance obligation to deliver the product to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the product and is recognized at the time control of the product passes to the customer, which is at the time of shipment. Taxes collected from customers for remittance to governmental bodies are excluded from revenues.
Sales Return Allowances	Sales Return Allowances The Company generally accepts returns related to sales in accordance with the various online marketplaces’ return policy. At the time of sale, a reserve is established for returns, based on historical experience and expected future returns, which is recorded as a reduction of sales and cost of goods sold.
Cost of Goods Sold	Cost of Goods Sold Cost of goods sold primarily consists of the purchase price of inventory sold to customers. Shipping costs to receive products from the Company’s brand partners and costs to ship products to third-party fulfillment centers are included in the Company’s inventory and recognized as cost of goods sold upon sale of the products to customers.
Operations, General and Administrative	Operations, General and Administrative Operations, general and administrative expenses consist of third-party fulfillment costs; payroll and related expenses; warehousing costs; facilities and equipment, including depreciation and amortization, rent and other occupancy expenses; professional and legal fees; as well as costs associated with other general costs for corporate functions, including accounting, finance and human resources. Fulfillment costs represent those costs incurred from third-party fulfillment centers and in operating and staffing the Company’s fulfillment centers, including costs related to buying, receiving, inspecting and warehousing inventories, picking, packaging and preparing customer orders for shipment.
Sales and Marketing	Sales and Marketing Sales and marketing expenses consist of third-party online marketplace commission fees, targeted online advertising and other marketing expenses, payroll and related expenses for personnel engaged in marketing and selling activities.
Brand Partnet Contracts	Brand Partner Contracts The Company has agreements with brand partners that provide reimbursement for certain advertising, cooperative marketing efforts and promotions. The Company generally accounts for such consideration from brand partners as a reduction of the related expense.
Research and Development	Research and Development Research and development costs include payroll and related expenses for employees involved in the research and development of Pattern’s technology, development and design of Company websites and curation and display of products available on third-party marketplaces.
Stock-Based Compensation	Stock-Based Compensation The Company records compensation expense for all equity-classified stock-based awards, including restricted stock units (“RSUs”) and those issued under the Company’s employee stock purchase plan (“ESPP”), based on the grant date fair value of the awards. The Company’s RSUs granted prior to the Company’s IPO generally have both a service-based and performance-based vesting condition with expense recognized using the accelerated method. No stock-based compensation expense was recognized for these awards prior to the Company’s IPO as the performance condition was determined as not probable of being met. The Company’s RSUs granted following the Company’s IPO generally have only a service-based vesting condition with expense recognized ratably over the service period. Additionally, we have stock-based compensation awards that are expected to settle in cash. These liability-classified awards are remeasured to fair value at the end of each reporting period until settlement or expiration. The Company has elected to account for forfeitures of awards as they occur. See Note 12—Stock-Based Compensation for more information. The fair value of the ESPP purchase rights is estimated on the grant date using the Black-Scholes option pricing model. The determination of fair value incorporates the Company’s stock price and assumptions regarding expected stock price volatility, expected term, risk-free interest rate and expected dividends, which requires the use of judgment. The Company recognizes compensation expense related to the ESPP on a straight-line basis over the offering period, which is the requisite service period.
Earnings per share	Earnings per share Basic and diluted earnings per share (“EPS”) are calculated using the Company’s weighted-average shares outstanding of common stock, Founder Voting Preferred Stock, Founder Non-Voting Preferred Stock, Series A common stock and Series B common stock. The Founder Voting and Founder Non-Voting Preferred Stock are considered to be common stock equivalents for purposes of calculating EPS as they share equally with common stock in the liquidation of the Company’s net assets and do not contain an economic preference. The rights, including the liquidation and dividend rights, of the holders of Series A and Series B common stock are identical, except with respect to voting, conversion and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income (loss) per share attributable to common stockholders are the same for both Series A and Series B common stock on both an individual and combined basis. The dilutive effect of Series A Preferred Stock is reflected in diluted earnings per share by application of the more dilutive of the two-class method and if-converted method (two-class method only applies for periods of net income). The dilutive effect of Series B Preferred Stock is reflected in diluted earnings per share under the if-converted method, if dilutive. The if-converted method is calculated by assuming conversion at the beginning of the period or date of issuance, if later; and therefore, no dividend preference would accrue to the Series B Preferred Stock. Restricted stock units (“RSUs”) subject to conditions other than service conditions are considered contingently issuable shares and are included in the computation of dilutive shares only to the extent that the underlying performance condition is satisfied prior to the end of the reporting period or would be considered satisfied if the end of the reporting period were the end of the related contingency period and the results would be dilutive under the treasury stock method (see Note 12—Stock-Based Compensation for more information).
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. The Company’s cash equivalents are carried at cost, which approximates fair value and are classified as Level 1 in the fair value hierarchy because they are valued using quoted market prices. As of December 31, 2025, the Company did not have any restricted cash balances.
Accounts Receivable, net	Accounts Receivable, net Accounts receivable, net are comprised of receivables from the various online marketplaces, brand partners and other receivables, including consulting clients and business-to-business sales. Accounts receivable are stated at the invoiced amount and are non-interest-bearing.
Inventory	Inventory The Company’s inventories represent finished good products that are available for sale. Inventory is accounted for using the average cost method and is stated at the lower of cost or net realizable value. The Company periodically evaluates the composition of its inventory and recognizes adjustments when the cost of inventory is not expected to be fully recoverable. The market value of inventory is estimated by considering current and anticipated demand based on historical sales, buying trends and the method of disposal for aged inventory, such as through sales to individual customers, returns to brand partners, liquidations and expected recoverable values of each disposition category.
Concentration Risks	Concentration Risks Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents are held at high credit quality financial institutions, which at times may exceed federally insured amounts. The Company primarily generates revenue from customers located in the U.S. and international markets who purchase the Company’s products on third-party online marketplaces. The Company regularly reviews the financial condition of the online marketplaces to ensure their ability to collect funds from customers and remit these funds to the Company. Additionally, the Company has receivables from brand partners and other customers. The Company conducts ongoing evaluations of customers and brand partners financial conditions and may require advance payment to mitigate potential credit risks.
Property and Equipment, net	Property and Equipment, net Property and equipment are stated at historical cost less accumulated depreciation and amortization. Repairs and maintenance costs that do not extend the useful life or improve the related asset are expensed as incurred. Depreciation and amortization are computed using the straight-line method over the estimated useful life of the asset or the remaining lease term, if shorter. Leasehold improvements are amortized over the shorter of the term of the related leases or estimated useful lives.
Leases	Leases Leases arise from contractual obligations that convey the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The Company determines if an arrangement is, or contains, a lease at contract inception. The Company’s operating leases are included in operating lease right-of-use assets, current portion of operating lease liabilities and operating lease liabilities, non-current in the accompanying consolidated balance sheets. Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the applicable lease term discounted using the Company’s IBR. Operating lease right-of-use assets include any lease payments made or incentives provided by the lessor. As the leases do not provide an implicit rate, the IBR used is estimated based on what the Company would have to pay on a collateralized basis over a similar term as the lease. Lease payments include fixed payments and any variable payments based on an index or rate and are recognized as lease expense on a straight-line basis over the term of the lease.
Internal-Use Software	Internal-Use Software Internal-use software costs include costs to develop software to be used to meet internal needs. Development costs are capitalized for these software applications once the preliminary project stage is complete, it is probable that the project will be completed and the software will be used to perform the function intended.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets When there are indicators of potential impairment, the Company evaluates recoverability of the carrying values of property and equipment and right-of-use assets by comparing the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds the estimated undiscounted future cash flows, an impairment charge is recognized based on the amount by which the carrying value of the asset exceeds its fair value.
Business Combinations	Business Combinations The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of the acquisition. Purchase accounting results in assets and liabilities of an acquired business being recorded at their estimated fair values on the acquisition date. Any excess consideration over the fair value of assets acquired and liabilities assumed is recognized as goodwill. Acquisition-related costs incurred by the Company are recognized as an expense in operations, general and administrative expenses within the consolidated statements of operations. The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement within the measurement period. During the measurement period, which may be up to one year from the acquisition date, and to the extent that the value was not previously finalized, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions and tax-related valuation allowances are initially recorded in connection with a business combination as of the acquisition date. The Company continues to collect information about facts and circumstance that existed at the date of acquisition and reevaluates these estimates and assumptions and records any adjustments to the Company’s preliminary estimates to goodwill, provided that it is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations.
Goodwill and Acquired Intangible Assets	Goodwill Goodwill represents the excess of the aggregate purchase consideration over the fair value of net assets acquired in a business combination. The Company performs an impairment analysis annually as of October 1st, or whenever events or circumstances indicate that the fair value of goodwill has been impaired. The Company performs goodwill impairment tests at the reporting unit level. Acquired Intangible Assets Identifiable acquired intangible assets consist primarily of acquisition-related trademarks, customer relationships and developed technology to enable the Company to serve brand partners more effectively. The appropriate useful life of intangible assets is determined by performing an analysis of expected cash flows of the acquired assets.
Provision for Income Taxes	Provision for Income Taxes Income tax expense includes U.S. (federal and state) and foreign income taxes. The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. Deferred income tax balances reflect the anticipated future effects of temporary differences between the carrying amounts of assets and liabilities and their tax basis and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent the Company believes it is more likely than not they will not be realized. The Company considers many factors when assessing the likelihood of future realization of deferred tax assets, including recent cumulative loss experience and expectation of future earnings, the carry-forward periods available for tax reporting purposes, reversal of temporary differences and other relevant factors. The Company utilizes a two-step approach to recognizing and measuring uncertain income tax positions (tax contingencies). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not the position will be sustained on audit, including resolution of related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. The Company considers many factors when evaluating its tax positions and estimating the related tax benefits, which may require periodic adjustment and which may not accurately forecast actual outcomes. The Company’s policy for recording interest and penalties associated with uncertain tax positions is to record such items as a component of the income tax provision. The Organization for Economic Co-operation and Development (the “OECD”) has introduced a framework to implement a global minimum corporate tax of 15%, referred to as Pillar Two. Many aspects of Pillar Two became effective beginning in calendar year 2024 and other aspects will be effective beginning in calendar year 2025. While it is uncertain whether the U.S. will adopt Pillar Two, certain countries in which the Company operates have either adopted legislation or are in the process of introducing legislation to implement Pillar Two. While the Company does not expect Pillar Two to have a material impact on its effective tax rate, the Company’s analysis is ongoing as the OECD releases additional guidance and countries implement additional legislation. The One Big Beautiful Bill Act (“OBBB”) was signed into law on July 4, 2025. The OBBB makes changes to the U.S. corporate income tax, including immediate expensing of domestic research and development costs, with retroactive application beginning January 1, 2025, and reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with retroactive application beginning January 20, 2025. The main impact of OBBB for our company is the timing changes to when certain expenses can be deducted, which does not impact the estimated annual effective tax rate. As such, OBBB does not have a material impact on our estimated annual effective tax rate in 2025.
Foreign Currency Translation	Foreign Currency Translation The reporting currency of the Company is the U.S. dollar. The functional currency for the Company’s subsidiaries is generally the same as the local currency. Foreign currency denominated monetary assets and liabilities are remeasured into U.S. dollars at exchange rates at the balance sheet date, and foreign currency denominated non-monetary assets and liabilities are remeasured into U.S. dollars at historical exchange rates. Revenue and expenses are translated at average rates prevailing throughout the period. Realized gains or losses from foreign currency transactions and settlements are included in other income (expense), net in the consolidated statements of operations.
Fair Value Measurement	Fair Value Measurement The Company measures and reports certain assets and liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, U.S. GAAP has established a hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data. Level 3 – Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. Under the new guidance, entities must consistently categorize and provide greater disaggregation of information in the rate reconciliation. Entities must also further disaggregate income taxes paid. The standard is intended to benefit stockholders by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The guidance applies to all entities subject to income taxes and is effective for annual periods beginning after December 15, 2024. The Company adopted the requirement of ASU 2023-09 on a prospective basis for the year ended December 31, 2025 as reflected in Note 13—Provision for Income Taxes. Recent Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure of specific expense categories in the notes to the financial statements. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted and can be applied on either a prospective or retroactive basis. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient for measuring expected credit losses on current trade receivables and contract assets arising from revenue transactions within the scope of ASC 606, Revenue from Contracts with Customers. Under the expedient, an entity may assume that the conditions existing as of the reporting date will not change over the remaining life of the asset when estimating expected credit losses. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, including interim reporting periods within that annual period, with early adoption permitted on a prospective basis. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures but does not expect it to have a material impact. In September 2025, the FASB issued ASU 2025-06, Intangibles — Goodwill and Other (Topic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which modernizes and clarifies guidance for capitalizing costs related to internal-use software development. The amendments remove stage-based terminology and incorporate guidance for website development costs previously included in ASC 350-50. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within that annual period, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. In November 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies and enhances the guidance related to the form, content and disclosure requirements of interim financial statements. The amendments reorganize and codify certain interim disclosure requirements, incorporate disclosure guidance from other Topics into ASC 270, and establish a disclosure principle requiring entities to provide disclosures about events and transactions occurring after the most recent annual reporting period that materially affect the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted, and the guidance may be applied prospectively or retrospectively, in whole or in part. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.

Use of Estimates

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions in the Company’s consolidated financial statements and accompanying notes. On an ongoing basis, management evaluates these estimates and judgments.

Estimates are used for, but not limited to, determining the net realizable value and demand for inventory, allowance for sales returns, allowance for doubtful accounts, valuation allowances with respect to deferred tax assets, fair value of reporting units used in evaluation of goodwill impairment, the fair value of assets acquired and liabilities assumed in business combinations, the valuation of stock-based awards, the fair value of common stock and the incremental borrowing rate (“IBR”) used to measure operating lease liabilities. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from these estimates and any such differences may be material to the Company’s consolidated financial statements.

Revenue

The Company recognizes revenue primarily from product sales through domestic and international online marketplaces. Revenue is recognized on a gross basis as the Company is (i) the entity primarily responsible for fulfilling the promise to provide the specified products in the arrangement with the customer, (ii) has inventory risk before the products have been transferred to a customer and (iii) has discretion in establishing the price for the products sold on the online marketplaces.

The Company evaluated principal versus agent considerations to determine whether it is appropriate to record seller fees paid by the Company to the marketplaces as an expense or as a reduction of revenue. Seller fees charged by third-party marketplaces are not recorded as a reduction of revenue as the Company owns and controls all goods before they are transferred to the end customer. The Company is responsible for ensuring the goods promised to the end consumer are

delivered. The Company establishes the price of its products, determines who fulfills the goods to the customer (third-party online marketplaces or the Company) and can limit quantities or stop selling the goods at any time. Revenues are presented net of customer returns. Based on these considerations, the Company is the principal in these arrangements.

A contract is created at the time the order is placed by the customer, which creates a single performance obligation to deliver the product to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring the product and is recognized at the time control of the product passes to the customer, which is at the time of shipment. Taxes collected from customers for remittance to governmental bodies are excluded from revenues.

The following table presents the Company’s revenues disaggregated by source of revenue:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Amazon.com		$	1,209,267	$	1,579,056	$	2,147,186
Amazon marketplaces, international		59,744		102,396		170,758
Other online marketplaces and channels		78,384		94,197		151,012
SaaS, logistics and other revenue		19,022		20,512		32,359
Revenues		$	1,366,417	$	1,796,161	$	2,501,315

The following table presents the Company’s revenues disaggregated by geography:


	Year Ended December 31,
(in thousands)		2023		2024		2025
U.S.		$	1,249,433	$	1,632,923	$	2,235,545
International		116,984		163,238		265,770
Revenues		$	1,366,417	$	1,796,161	$	2,501,315

During the year ended December 31, 2025, the Company updated its methodology for determining the geographic classification of revenue to better align with the country the marketplace is domiciled and how management evaluates regional performance. As a result, the Company has recast the prior period revenue by geographic region to conform to the current period presentation. This change affected only the allocation of revenue between geographic regions and did not impact total consolidated revenues, operating results, or cash flows for any period presented.

The U.S. was the only individual country accounting for more than 10% of total revenue.

Sales Return Allowances

The Company generally accepts returns related to sales in accordance with the various online marketplaces’ return policy. At the time of sale, a reserve is established for returns, based on historical experience and expected future returns, which is recorded as a reduction of sales and cost of goods sold. The following table summarizes the additions and deductions to the Company’s sales return allowance:


	December 31,
(in thousands)	2024		2025
Balance, beginning of period	$	4,679	$	6,344
Increases to sales allowance	74,831		89,632
Customer returns	(73,166)		(91,318)
Balance, end of period	$	6,344	$	4,658

The Company includes within inventory an asset, totaling $1.6 million and $1.0 million as of December 31, 2024 and 2025, respectively, associated with the right to recover product from customers related to the Company’s liabilities for return allowances.

Cost of Goods Sold

Cost of goods sold primarily consists of the purchase price of inventory sold to customers. Shipping costs to receive products from the Company’s brand partners and costs to ship products to third-party fulfillment centers are included in the Company’s inventory and recognized as cost of goods sold upon sale of the products to customers.

Operations, General and Administrative

Operations, general and administrative expenses consist of third-party fulfillment costs; payroll and related expenses; warehousing costs; facilities and equipment, including depreciation and amortization, rent and other occupancy expenses; professional and legal fees; as well as costs associated with other general costs for corporate functions, including accounting, finance and human resources.

Fulfillment costs represent those costs incurred from third-party fulfillment centers and in operating and staffing the Company’s fulfillment centers, including costs related to buying, receiving, inspecting and warehousing inventories, picking, packaging and preparing customer orders for shipment. Fulfillment costs are included within operations, general and administrative in the consolidated statements of operations and were $217.0 million, $272.3 million and $374.3 million for the years ended December 31, 2023, 2024 and 2025, respectively.

Sales and Marketing

Sales and marketing expenses consist of third-party online marketplace commission fees, targeted online advertising and other marketing expenses, payroll and related expenses for personnel engaged in marketing and selling activities.

Advertising and other marketing expenses were $16.4 million, $20.9 million and $37.2 million for the years ended December 31, 2023, 2024 and 2025 respectively.

Brand Partner Contracts

The Company has agreements with brand partners that provide reimbursement for certain advertising, cooperative marketing efforts and promotions. The Company generally accounts for such consideration from brand partners as a reduction of the related expense.

Research and Development

Research and development costs include payroll and related expenses for employees involved in the research and development of Pattern’s technology, development and design of Company websites and curation and display of products available on third-party marketplaces.

Stock-Based Compensation

The Company records compensation expense for all equity-classified stock-based awards, including restricted stock units (“RSUs”) and those issued under the Company’s employee stock purchase plan (“ESPP”), based on the grant date fair value of the awards. The Company’s RSUs granted prior to the Company’s IPO generally have both a service-based and performance-based vesting condition with expense recognized using the accelerated method. No stock-based compensation expense was recognized for these awards prior to the Company’s IPO as the performance condition was determined as not probable of being met. The Company’s RSUs granted following the Company’s IPO generally have only a service-based vesting condition with expense recognized ratably over the service period. Additionally, we have stock-based compensation awards that are expected to settle in cash. These liability-classified awards are remeasured to fair value at the end of each reporting period until settlement or expiration. The Company has elected to account for forfeitures of awards as they occur. See Note 12—Stock-Based Compensation for more information.

The fair value of the ESPP purchase rights is estimated on the grant date using the Black-Scholes option pricing model. The determination of fair value incorporates the Company’s stock price and assumptions regarding expected stock price volatility, expected term, risk-free interest rate and expected dividends, which requires the use of judgment. The Company recognizes compensation expense related to the ESPP on a straight-line basis over the offering period, which is the requisite service period. See Note 12—Stock-Based Compensation for more information.

Earnings per share

Basic and diluted earnings per share (“EPS”) are calculated using the Company’s weighted-average shares outstanding of common stock, Founder Voting Preferred Stock, Founder Non-Voting Preferred Stock, Series A common stock and Series B common stock. The Founder Voting and Founder Non-Voting Preferred Stock are considered to be common stock equivalents for purposes of calculating EPS as they share equally with common stock in the liquidation of the Company’s net assets and do not contain an economic preference. The rights, including the liquidation and dividend rights, of the holders of Series A and Series B common stock are identical, except with respect to voting, conversion and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income (loss) per share attributable to common stockholders are the same for both Series A and Series B common stock on both an individual and combined basis.

The dilutive effect of Series A Preferred Stock is reflected in diluted earnings per share by application of the more dilutive of the two-class method and if-converted method (two-class method only applies for periods of net income). The dilutive effect of Series B Preferred Stock is reflected in diluted earnings per share under the if-converted method, if dilutive. The if-converted method is calculated by assuming conversion at the beginning of the period or date of issuance, if later; and therefore, no dividend preference would accrue to the Series B Preferred Stock. Restricted stock units (“RSUs”) subject to conditions other than service conditions are considered contingently issuable shares and are included in the computation of dilutive shares only to the extent that the underlying performance condition is satisfied prior to the end of the reporting period or would be considered satisfied if the end of the reporting period were the end of the related contingency period and the results would be dilutive under the treasury stock method (see Note 12—Stock-Based Compensation for more information).

The following table sets forth the computation of earnings per share attributable to common stockholders:


	Year Ended December 31,
(in thousands, except per share data)		2023		2024		2025
Net income		$	41,264	$	67,856	$	16,246
Income allocable to participating Series A Preferred Stock		3,441		7,373		—
Series B Preferred Stock dividend - undeclared		17,992		17,992		8,922
Reversal of cumulative Series B Preferred Stock undeclared dividends upon redemption of Series B Preferred Stock		—		—		(67,350)
Deemed dividend for redemption of Series B Preferred Stock		—		—		231,281
Net income (loss) attributable to common stockholders		$	19,831	$	42,491	$	(156,607)
Weighted-average shares outstanding:








Basic and Diluted		90,767		90,769		114,998
Net income (loss) attributable to common stockholders


Basic and Diluted		$	0.22	$	0.47	$	(1.36)


	Year Ended December 31,
(in thousands)		2023	2024	2025
Series B Preferred Stock		13,216	13,216	—
RSUs		15,149	17,589	8,088
ESPP		—	—	159

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. The Company’s cash equivalents are carried at cost, which approximates fair value and are classified as Level 1 in the fair value hierarchy because they are valued using quoted market prices. As of December 31, 2025, the Company did not have any restricted cash balances.

Accounts Receivable, net

Accounts receivable, net are comprised of receivables from the various online marketplaces, brand partners and other receivables, including consulting clients and business-to-business sales. Accounts receivable are stated at the invoiced amount and are non-interest-bearing.

The following table summarizes the Company’s accounts receivable balance:


	December 31,
(in thousands)	2024		2025
Amazon.com	$	54,246	$	85,842
Brand partner receivables	43,269		73,279
Other receivables	11,199		21,934
Allowance for doubtful accounts	(1,788)		(3,841)
Accounts receivable, net	$	106,926	$	177,214

The following table summarizes the additions and deductions to the Company’s allowance for doubtful accounts:


	December 31,
(in thousands)	2024		2025
Balance, beginning of period	$	2,022	$	1,788
Net change in allowance	667		2,542
Write-offs	(901)		(489)
Balance, end of period	$	1,788	$	3,841

Inventory

The Company’s inventories represent finished good products that are available for sale. Inventory is accounted for using the average cost method and is stated at the lower of cost or net realizable value.

The Company periodically evaluates the composition of its inventory and recognizes adjustments when the cost of inventory is not expected to be fully recoverable. The market value of inventory is estimated by considering current and anticipated demand based on historical sales, buying trends and the method of disposal for aged inventory, such as through sales to individual customers, returns to brand partners, liquidations and expected recoverable values of each disposition category.

An inventory reserve to reduce the value of inventory by $7.9 million and $8.5 million was recorded within inventory on the consolidated balance sheets as of December 31, 2024 and 2025, respectively.

Concentration Risks

Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company’s cash and cash equivalents are held at high credit quality financial institutions, which at times may exceed federally insured amounts.

The Company primarily generates revenue from customers located in the U.S. and international markets who purchase the Company’s products on third-party online marketplaces. The Company regularly reviews the financial condition of the online marketplaces to ensure their ability to collect funds from customers and remit these funds to the Company.

Additionally, the Company has receivables from brand partners and other customers. The Company conducts ongoing evaluations of customers and brand partners financial conditions and may require advance payment to mitigate potential credit risks.

No customer accounted for greater than 10% of the Company’s accounts receivable or revenue as of and for the year ended December 31, 2024 and 2025. One online marketplace represented 51% and 48% of the Company’s accounts receivable as of December 31, 2024 and 2025, respectively. The same online marketplace accounted for 93%, 94% and 93% of the Company’s revenue for the years ended December 31, 2023, 2024 and 2025 respectively.

The Company relies on brand partners for its inventories. A significant disruption in the operations of certain of these brand partners could impact the Company’s product sales for a substantial period of time, which may have a material adverse effect on the Company’s business, financial condition and results of operations.

Two brand partners accounted for 17% and 11% of inventory purchases for the year ended December 31, 2024 and 17% and 17% for the year ended December 31, 2025.

Property and Equipment, net

Property and equipment are stated at historical cost less accumulated depreciation and amortization. Repairs and maintenance costs that do not extend the useful life or improve the related asset are expensed as incurred. Depreciation and amortization are computed using the straight-line method over the estimated useful life of the asset or the remaining lease term, if shorter. The estimated useful lives of property and equipment are as follows:


			Useful life
Furniture and fixtures			5 years
Machinery and equipment			4-10 years
Computer equipment			3 years
Internal-use software			3 years
Buildings			30 years
Vehicles			4 years

Leasehold improvements are amortized over the shorter of the term of the related leases or estimated useful lives.

Leases

Leases arise from contractual obligations that convey the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. The Company determines if an arrangement is, or contains, a lease at contract inception. The Company’s operating leases are included in operating lease right-of-use assets, current portion of operating lease liabilities and operating lease liabilities, non-current in the accompanying consolidated balance sheets.

Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the applicable lease term discounted using the Company’s IBR. Operating lease right-of-use assets include any lease payments made or incentives provided by the lessor. As the leases do not provide an implicit rate, the IBR used is estimated based on what the Company would have to pay on a collateralized basis over a similar term as the lease. Lease payments include fixed payments and any variable payments based on an index or rate and are recognized as lease expense on a straight-line basis over the term of the lease.

Internal-Use Software

Internal-use software costs include costs to develop software to be used to meet internal needs. Development costs are capitalized for these software applications once the preliminary project stage is complete, it is probable that the project will be completed and the software will be used to perform the function intended. Capitalized internal-use software costs, net of accumulated amortization is included in property and equipment, net in the consolidated balance sheets and was $13.5 million and $15.8 million as of December 31, 2024 and 2025, respectively.

Impairment of Long-Lived Assets

When there are indicators of potential impairment, the Company evaluates recoverability of the carrying values of property and equipment and right-of-use assets by comparing the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds the estimated undiscounted future cash flows, an impairment charge is recognized based on the amount by which the carrying value of the asset exceeds its fair value. During years ended December 31, 2023, 2024 and 2025, the Company did not identify any indicators of impairment, and no impairment charges were recorded.

Business Combinations

The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of the acquisition. Purchase accounting results in assets and liabilities of an acquired business being recorded at their estimated fair values on the acquisition date. Any excess consideration over the fair value of assets acquired and liabilities assumed is recognized as goodwill. Acquisition-related costs incurred by the Company are recognized as an expense in operations, general and administrative expenses within the consolidated statements of operations.

The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates are inherently uncertain and subject to refinement within the measurement period.

During the measurement period, which may be up to one year from the acquisition date, and to the extent that the value was not previously finalized, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions and tax-related valuation allowances are initially recorded in connection with a business combination as of the acquisition date. The Company continues to collect information about facts and circumstance that existed at the date of acquisition and reevaluates these estimates and assumptions and records any adjustments to the Company’s preliminary estimates to goodwill, provided that it is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations.

Goodwill

Goodwill represents the excess of the aggregate purchase consideration over the fair value of net assets acquired in a business combination. The Company performs an impairment analysis annually as of October 1st, or whenever events or circumstances indicate that the fair value of goodwill has been impaired. The Company performs goodwill impairment tests at the reporting unit level.

Acquired Intangible Assets

Identifiable acquired intangible assets consist primarily of acquisition-related trademarks, customer relationships and developed technology to enable the Company to serve brand partners more effectively. The appropriate useful life of intangible assets is determined by performing an analysis of expected cash flows of the acquired assets. Intangible assets are recorded at cost and amortized on a straight-line basis over the estimated useful life:


			Useful life
Developed Technology			3-5 years
Customer relationships			1-10 years
Tradename			5-10 years
Non-competition agreements			2-3 years
Domain name			15 years

Provision for Income Taxes

Income tax expense includes U.S. (federal and state) and foreign income taxes. The Company operates in various tax jurisdictions and is subject to audit by various tax authorities.

Deferred income tax balances reflect the anticipated future effects of temporary differences between the carrying amounts of assets and liabilities and their tax basis and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered.

Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent the Company believes it is more likely than not they will not be realized. The Company considers many factors when assessing the likelihood of future realization of deferred tax assets, including recent cumulative loss experience and expectation of future earnings, the carry-forward periods available for tax reporting purposes, reversal of temporary differences and other relevant factors.

The Company utilizes a two-step approach to recognizing and measuring uncertain income tax positions (tax contingencies). The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not the position will be sustained on audit, including resolution of related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. The Company considers many factors when evaluating its tax positions and estimating the related tax benefits, which may require periodic adjustment and which may not accurately forecast actual outcomes. The Company’s policy for recording interest and penalties associated with uncertain tax positions is to record such items as a component of the income tax provision.

The Organization for Economic Co-operation and Development (the “OECD”) has introduced a framework to implement a global minimum corporate tax of 15%, referred to as Pillar Two. Many aspects of Pillar Two became effective beginning in calendar year 2024 and other aspects will be effective beginning in calendar year 2025. While it is uncertain whether the U.S. will adopt Pillar Two, certain countries in which the Company operates have either adopted legislation or are in the process of introducing legislation to implement Pillar Two. While the Company does not expect Pillar Two to have a material impact on its effective tax rate, the Company’s analysis is ongoing as the OECD releases additional guidance and countries implement additional legislation.

The One Big Beautiful Bill Act (“OBBB”) was signed into law on July 4, 2025. The OBBB makes changes to the U.S. corporate income tax, including immediate expensing of domestic research and development costs, with retroactive application beginning January 1, 2025, and reinstating the option to claim 100% accelerated depreciation deductions on qualified property, with retroactive application beginning January 20, 2025. The main impact of OBBB for our company is the timing changes to when certain expenses can be deducted, which does not impact the estimated annual effective tax rate. As such, OBBB does not have a material impact on our estimated annual effective tax rate in 2025.

Foreign Currency Translation

The reporting currency of the Company is the U.S. dollar. The functional currency for the Company’s subsidiaries is generally the same as the local currency. Foreign currency denominated monetary assets and liabilities are remeasured into U.S. dollars at exchange rates at the balance sheet date, and foreign currency denominated non-monetary assets and liabilities are remeasured into U.S. dollars at historical exchange rates. Revenue and expenses are translated at average rates prevailing throughout the period. Realized gains or losses from foreign currency transactions and settlements are included in other income (expense), net in the consolidated statements of operations. Net realized foreign exchange gains and losses were not material for the years ended December 31, 2023, 2024 and 2025. Unrealized gains or losses from foreign currency remeasurement are included in other comprehensive income (loss).

Fair Value Measurement

The Company measures and reports certain assets and liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, U.S. GAAP has established a hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs.

This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data.

Level 3 – Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. Under the new guidance, entities must consistently categorize and provide greater disaggregation of information in the rate reconciliation. Entities

must also further disaggregate income taxes paid. The standard is intended to benefit stockholders by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The guidance applies to all entities subject to income taxes and is effective for annual periods beginning after December 15, 2024. The Company adopted the requirement of ASU 2023-09 on a prospective basis for the year ended December 31, 2025 as reflected in Note 13—Provision for Income Taxes.

Recent Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure of specific expense categories in the notes to the financial statements. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted and can be applied on either a prospective or retroactive basis. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient for measuring expected credit losses on current trade receivables and contract assets arising from revenue transactions within the scope of ASC 606, Revenue from Contracts with Customers. Under the expedient, an entity may assume that the conditions existing as of the reporting date will not change over the remaining life of the asset when estimating expected credit losses. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, including interim reporting periods within that annual period, with early adoption permitted on a prospective basis. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures but does not expect it to have a material impact.

In September 2025, the FASB issued ASU 2025-06, Intangibles — Goodwill and Other (Topic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which modernizes and clarifies guidance for capitalizing costs related to internal-use software development. The amendments remove stage-based terminology and incorporate guidance for website development costs previously included in ASC 350-50. ASU 2025-06 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within that annual period, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures.

In November 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies and enhances the guidance related to the form, content and disclosure requirements of interim financial statements. The amendments reorganize and codify certain interim disclosure requirements, incorporate disclosure guidance from other Topics into ASC 270, and establish a disclosure principle requiring entities to provide disclosures about events and transactions occurring after the most recent annual reporting period that materially affect the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted, and the guidance may be applied prospectively or retrospectively, in whole or in part. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures.

Stock-Based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs), Excluding Executive Incentive Agreement - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	17,589	15,149	12,801
Granted (in shares)	5,393	3,399	3,100
Vested (in shares)	(14,092)	0	0
Cancelled/Forfeited (in shares)	(720)	(959)	(752)
Outstanding, ending balance (in shares)	8,170	17,589	15,149
Weighted-Average Grant Date Fair Value
Outstanding, weighted-average grant date fair value, beginning (in dollars per share)	$ 4.88	$ 3.26	$ 2.16
Granted, weighted-average grant date fair value (in dollars per share)	16.30	12.94	7.67
Vested, weighted-average grant date fair value (in dollars per share)	3.65	0	0
Cancelled/forfeited, weighted-average grant date fair value (in dollars per share)	12.43	7.72	2.85
Outstanding, weighted-average grant date fair value, ending (in dollars per share)	$ 13.89	$ 4.88	$ 3.26

Stock-Based Compensation

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

12. Stock-Based Compensation

Stock-based compensation expense is classified within the corresponding operating expense categories in the consolidated statements of operations as follows:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Operations, general and administrative		$	(206)	$	—	$	52,530
Sales and marketing		—		—		24,716
Research and development		—		—		20,042
Total stock-based compensation		$	(206)	$	—	$	97,288

Compensation expense associated with cash-settled restricted stock units was $2.3 million for the year ended December 31, 2025 and was included in operations, general and administrative in the consolidated statements of operations.

Stock Award Plans

In January 2019, Pattern Group Inc. adopted the 2019 Equity Incentive Plan (as amended, the “2019 Plan”). Under the 2019 Plan, the board of directors may grant stock options, restricted stock, RSUs, stock appreciation rights or a dividend equivalent to eligible employees, officers, non-employee directors and consultants. Under the 2019 Plan, these RSUs granted to employees and directors included both service-based and performance-based vesting conditions. The performance-based vesting condition was satisfied by the IPO.

In connection with the IPO, the board of directors adopted the 2025 Equity Incentive Plan (the “2025 Plan”), which became effective upon the date immediately preceding the date on which the registration statement was declared effective by the SEC. Under the 2025 Plan, the board of directors may grant stock options, restricted shares, RSUs, stock appreciation rights, dividend equivalent rights and cash bonuses to eligible employees, officers, non-employee directors and consultants. Following the IPO, outstanding RSUs under both the 2019 Plan and 2025 Plan include only a service-based vesting condition. The service-based vesting condition is generally satisfied by rendering continuous service, generally for 4 years, during which time a quarter of the award vests annually.

Restricted Stock Units

The following table summarizes the RSU activity (excluding the executive incentive agreement described below):


(in thousands, except per share fair values)	RSUs	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2022	12,801	$	2.16
Granted	3,100	$	7.67
Vested	—	$	—
Cancelled/Forfeited	(752)	$	2.85
Outstanding at December 31, 2023	15,149	$	3.26

Granted	3,399	$	12.94
Vested	—	$	—
Cancelled/Forfeited	(959)	$	7.72
Outstanding at December 31, 2024	17,589	$	4.88

Granted	5,393	$	16.30
Vested	(14,092)	$	3.65
Cancelled/Forfeited	(720)	$	12.43
Outstanding at December 31, 2025	8,170	$	13.89

Under the 2019 Plan, the Company records stock-based compensation expense in connection with RSUs based on the fair market value of its common stock (as described further below) on the grant date using the accelerated attribution method when it is probable the performance-based vesting condition will be achieved. Under the 2025 Plan, the Company records stock-based compensation expense in connection with RSUs based on the fair market value of its common stock (as quoted on the Nasdaq Global Select Market) on the grant date, ratably over the requisite service period of the award. Upon vesting of RSUs, the Company withholds shares from employees to satisfy the employee portion of payroll tax obligations (“net share settlement”) which are classified as a financing activity in the consolidated statement of cash flows.

The valuation of RSUs granted under the 2019 Plan, was determined in accordance with the guidance provided by the American Institute of American Institute of Certified Public Accountants in its Accounting & Valuation Guide. An equity value was estimated using a weighted average of the guideline public company method and the backsolve method (market approaches). These methods considered information from a selection of comparable publicly traded companies and the Company’s historical Series A and Series B Preferred Stock transactions. For the public company method, valuation multiples were calculated from selected company operating data to provide an indication of how much a current investor in the marketplace would be willing to pay for a company with characteristics similar to the Company. These valuation multiples were evaluated and adjusted based on the strengths and weaknesses of the Company relative to those of the selected guideline companies. The multiples are applied to the Company’s operating data to arrive at a relative indication of fair value. Enterprise value was next allocated to differing security holders in the capitalization schedule using the Option Pricing Method (the “OPM”). The OPM utilized breakpoints based on various terms of the stockholder agreements upon liquidation of the enterprise, the level of seniority among the securities, dividend policy, conversion ratios and cash allocations. Estimated volatility ranged from 55% to 60% and the discount for lack of marketability ranged from 14.8% to 20.0%.

Application of the valuation procedures for RSUs granted under the 2019 Plan involved the use of estimates, judgment and assumptions that are highly complex and subjective, such as those regarding expected future revenue and EBITDA, market multiples, the selection of comparable companies, the lack of marketability of the Company’s common stock, precedent transactions involving the Company’s shares, market performance of comparable publicly traded companies, U.S. and global capital market conditions and the probability of possible future events. Changes in any or all of these estimates and assumptions or the relationships between those assumptions impact the valuations as of each valuation date and may have a material impact on the valuation of the Company’s common stock.

The total unrecognized stock-based compensation expense related to these awards was $66.8 million as of December 31, 2025 and the weighted-average remaining requisite service period is 2.98 years.

In February 2025, the board of directors approved a stand-alone restricted stock unit agreement for the Company’s Chief Executive Officer (“CEO”) subject to certain performance and market conditions. In August 2025, the stand-alone restricted stock unit agreement for the Company’s CEO was cancelled. No expense was recognized upon cancellation of the award in August 2025 as the performance and market conditions had not occurred.

Employee Stock Purchase Plan

The 2025 Employee Stock Purchase Plan (“ESPP”) was adopted by the board of directors on September 9, 2025, was approved by the Company’s stockholders on September 9, 2025, and became effective on the date immediately preceding the date on which the registration statement was declared effective by the SEC. The ESPP initially reserves and authorizes the issuance of up to a total of 3,086,351 shares of Series A common stock to participating employees. Each employee who is a participant in the ESPP will be able to purchase shares by authorizing payroll deductions of up to 15% of his or her eligible compensation during an offering period. The ESPP provides for a 6-month offering periods beginning December 1 and June 1 of each year, beginning on December 1, 2025.

Unless the participating employee has previously withdrawn from the offering, his or her accumulated payroll deductions will be used to purchase shares of Series A common stock on the last business day of the offering period at a price equal to 85% of the fair market value of the shares on the first business day or the last business day of the offering period, whichever is lower, provided that no more than a number of shares of Series A common stock determined by dividing $25,000 by the fair market value of the Series A common stock on the first day of the offering may be purchased by any one employee during any offering period. Under applicable tax rules, an employee may purchase no more than $25,000 worth of shares of Series A common stock, valued at the start of the purchase period, under the ESPP in any calendar year. An employee’s rights under the ESPP will terminate upon voluntary withdrawal from the plan or when the

employee ceases employment with the Company for any reason. The ESPP may be terminated or amended by the board of directors at any time.

There were $0.3 million of contributions into the ESPP during the year ended December 31, 2025 and no shares purchased under the ESPP during the year ended December 31, 2025. Stock-based compensation expense associated with the ESPP is included in the stock-based compensation expense table above. Stock-based compensation expense associated with the ESPP recognized during year ended December 31, 2025 and unrecognized stock-based compensation expense at December 31, 2025 was not material.

Each of the 2025 Plan and the ESPP provide for annual automatic increases in the number of shares of Series A common stock reserved thereunder, and the 2025 Plan provides for increases to the number of shares of Series A common stock that may be granted thereunder based on shares underlying any awards under the 2025 Plan and the 2019 Plan that are forfeited, cancelled or are otherwise terminated.

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Common Stock Authorized, Issued and Reserved

The Company has reserved the following shares of common stock for future issuance:


(in thousands)															December 31, 2025


Shares available under the 2019 and 2025 Equity Incentive Plans															25,270
Shares available under the 2025 Employee Stock Purchase Plan															3,086
Total shares of common stock reserved															28,356
Common shares outstanding															176,394
Authorized but not reserved															2,095,250
Total common shares authorized															2,300,000

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-4

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-5

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481142/505-10-45-2

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-10

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Property and Equipment, net - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 80,049	$ 60,135
Less: accumulated depreciation and amortization	(38,962)	(25,100)
Property and equipment, net	41,087	35,035
Internal-use software
Property, Plant and Equipment [Line Items]
Total property and equipment	42,459	31,353
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	13,403	6,394
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	7,625	5,435
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	6,849	4,459
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	3,984	3,984
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	3,501	2,677
Purchased Software
Property, Plant and Equipment [Line Items]
Total property and equipment	1,301	1,296
Assets under construction
Property, Plant and Equipment [Line Items]
Total property and equipment	503	4,147
Buildings
Property, Plant and Equipment [Line Items]
Total property and equipment	334	334
Vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 90	$ 56

Goodwill & Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table summarizes our goodwill activity:


(in thousands)	Amount
Goodwill - December 31, 2023	$	25,938
Acquisition activity	—
Goodwill - December 31, 2024	25,938
Acquisition activity	11,831
Goodwill - December 31, 2025	$	37,769

Schedule of Intangible Assets

Intangible assets are recorded at cost and amortized on a straight-line basis over the estimated useful life:


			Useful life
Developed Technology			3-5 years
Customer relationships			1-10 years
Tradename			5-10 years
Non-competition agreements			2-3 years
Domain name			15 years

Intangible assets, net consisted of the following:


	December 31, 2024
(in thousands, except for years data)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	7,284	$	(4,026)	$	3,258	2.3
Customer relationships	3,619		(1,893)		1,726		3.8
Tradenames	3,111		(1,705)		1,406		4.0
Non-competition agreements	1,907		(1,535)		372		0.5
Domain names	234		(90)		144		9.3
Intangible assets, net	$	16,155	$	(9,249)	$	6,906


	December 31, 2025
(in thousands, except for years data)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life (in years)
Developed technology	$	12,713	$	(5,482)	$	7,231	2.5
Customer relationships	5,036		(334)		4,702		4.6
Tradenames	3,964		(1,606)		2,358		4.4
Non-competition agreements	4,121		(1,847)		2,274		3.0
Domain names	234		(105)		129		8.0
Intangible assets, net	$	26,068	$	(9,374)	$	16,694

Schedule of Expected Future Amortization Expense for Intangible Assets

The expected future amortization expense for intangible assets as of December 31, 2025 is as follows:


(in thousands)	Amount
2026	$	5,660
2027	4,583
2028	4,031
2029	1,194
2030	1,178
Thereafter	48
Total amortization expense	$	16,694

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Other Assets and Liabilities

12 Months Ended

Dec. 31, 2025

Other Assets And Liabilities [Abstract]

Other Assets and Liabilities

6. Other Assets and Liabilities

Other Non-Current Assets

Other non-current assets consisted of the following:


	December 31,
(in thousands)	2024		2025
Deferred tax asset, net	$	7,976	$	27,013
Security deposits	2,605		4,337
Other assets	3		—
Other non-current assets	$	10,584	$	31,350

Other Non-Current Liabilities

Other non-current liabilities consisted of the following:


	December 31,
(in thousands)	2024		2025
Tax liabilities	$	418	$	3,567
Deferred acquisition consideration	—		1,628
Payroll liabilities	4,885		—
Other liabilities	—		898
Other non-current liabilities	$	5,303	$	6,093

Other Assets and Liabilities

6. Other Assets and Liabilities

Other Non-Current Assets

Other non-current assets consisted of the following:


	December 31,
(in thousands)	2024		2025
Deferred tax asset, net	$	7,976	$	27,013
Security deposits	2,605		4,337
Other assets	3		—
Other non-current assets	$	10,584	$	31,350

Other Non-Current Liabilities

Other non-current liabilities consisted of the following:


	December 31,
(in thousands)	2024		2025
Tax liabilities	$	418	$	3,567
Deferred acquisition consideration	—		1,628
Payroll liabilities	4,885		—
Other liabilities	—		898
Other non-current liabilities	$	5,303	$	6,093

Goodwill & Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 2.5	$ 3.1	$ 3.7

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-18

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-12

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

Summary of Significant Accounting Policies - Schedule of Additions and Deductions to Sales Return Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Revenue From Contract With Customer, Sales Return Allowance [Roll Forward]
Balance, beginning of period	$ 6,344	$ 4,679
Increases to sales allowance	89,632	74,831
Customer returns	(91,318)	(73,166)
Balance, end of period	$ 4,658	$ 6,344

Stockholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended		12 Months Ended
	Sep. 21, 2025 shares	Sep. 30, 2025 USD ($) shares	Aug. 31, 2025 USD ($)	Dec. 31, 2025 USD ($) class_of_common_stock vote $ / shares shares	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($)
Class of Stock [Line Items]
Issuance of Series A common stock, net of underwriters' discounts and offering expenses \| $				$ 135,029
Number of classes of common stock (in class of common stock) \| class_of_common_stock				2
Preferred stock, par value (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Percentage of dilution impact on the holder of stock due to conversion			3.33%
Incremental dilution percentage			9.00%
Conversion ratio			1
Stock amendment expense \| $			$ 32,700	$ 32,676	$ 0	$ 0
Founder Voting Preferred Stock
Class of Stock [Line Items]
Conversions of stock (in shares)		(17,797,821)
Preferred stock, par value (in dollars per share) \| $ / shares				$ 0.001
Founder Non-Voting Preferred Stock
Class of Stock [Line Items]
Conversions of stock (in shares)		(68,994,553)
Preferred stock, par value (in dollars per share) \| $ / shares				0.001
Series B Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Number of votes for common stock (in vote) \| vote				20
Conversion ratio (in shares)				1
Conversions of stock (in shares)		21,702,510
Series A Common Stock
Class of Stock [Line Items]
Issuance of Series A common stock, net of underwriters' discounts and offering expenses (in shares)		10,714,286
Issuance of Series A common stock, net of underwriters' discounts and offering expenses \| $		$ 135,000
Underwriter discount and commission \| $		10,500
Offering cost \| $		$ 4,500
Common stock, par value (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
Number of votes for common stock (in vote) \| vote				1
Conversions of stock (in shares)	15,750,477	84,131,370

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 16,246	$ 67,856	$ 41,264
Other comprehensive income:
Unrealized gain on foreign currency translation	1,433	1,369	1,025
Total other comprehensive income	1,433	1,369	1,025
Comprehensive income	$ 17,679	$ 69,225	$ 42,289

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-21

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3A
-Subparagraph (24)(d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-9

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 17
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480336/718-10-65-17

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 19: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 45: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

Reference 49: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Segment Information - Financial Information for Single Operating and Reportable Segment (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues		$ 2,501,315	$ 1,796,161	$ 1,366,417
Significant expenses:
Cost of goods sold		1,410,869	1,014,812	765,203
Fulfillment		374,300	272,300	217,000
Stock amendment expense	$ 32,700	32,676	0	0
Other (income) expense, net		946	2,013	(707)
Provision (benefit) for income taxes		(17,040)	23,379	15,077
Net income		16,246	67,856	41,264
Reportable And Operating Segment
Segment Reporting Information [Line Items]
Revenues		2,501,315	1,796,161	1,366,417
Significant expenses:
Cost of goods sold		1,410,869	1,014,812	765,203
Fulfillment		374,345	272,288	217,003
Marketplace commissions		357,257	257,915	194,753
Sales, general and administrative		194,045	138,345	116,574
Technology		35,044	25,619	20,305
Share-based compensation and related taxes		104,349	0	(206)
Stock amendment expense		32,676	0	0
Interest income, net		(7,422)	(6,066)	(2,849)
Other (income) expense, net		946	2,013	(707)
Provision (benefit) for income taxes		(17,040)	23,379	15,077
Net income		$ 16,246	$ 67,856	$ 41,264

Provision for Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating losses	$ 22,048	$ 7,303
Stock-based compensation	10,862	0
Research & development credits	5,134	710
Inventory (UNICAP)	5,011	4,248
Operating lease liabilities	4,529	5,387
Accrued liabilities	2,439	3,132
Capitalized research costs	0	4,929
Other	23	10
Valuation allowance	(13,972)	(7,505)	$ (5,090)
Deferred tax assets	36,074	18,214
Deferred tax liabilities:
Depreciation and amortization	(5,727)	(5,046)
Operating lease right-of-use asset	(4,118)	(5,048)
Capitalized research costs	(1,482)	0
Prepaid expenses and other	(395)	(175)
Deferred tax liabilities	(11,722)	(10,269)
Net deferred tax assets	$ 24,352	$ 7,945

Goodwill & Intangible Assets - Schedule of Expected Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Amount
2026	$ 5,660
2027	4,583
2028	4,031
2029	1,194
2030	1,178
Thereafter	48
Net Book Value	$ 16,694	$ 6,906

Provision for Income Taxes - Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
U.S. Federal & State	$ 12,513	$ 98,640	$ 62,229
International	(13,307)	(7,405)	(5,888)
Income (loss) before income taxes	$ (794)	$ 91,235	$ 56,341

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-21

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 12: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 16: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Concentration Risk [Line Items]
Right to recover product from customer	$ 1.0	$ 1.6
Fulfillment	374.3	272.3	$ 217.0
Marketing and advertising expense	37.2	20.9	16.4
Inventory valuation reserves	8.5	7.9
Capitalized internal-use software costs, net of accumulated amortization	15.8	13.5
Impairment of long-lived asset	$ 0.0	$ 0.0	$ 0.0
One Online Marketplace \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (more than)	48.00%	51.00%
One Online Marketplace \| Revenue Benchmark \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (more than)	93.00%	94.00%	93.00%
Brand Partner One \| Inventories \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (more than)	17.00%	17.00%
Brand Partner Two \| Inventories \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (more than)	17.00%	11.00%

Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Financial Information for Single Operating and Reportable Segment

The following table presents selected financial information with respect to the Company’s single operating and reportable segment:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Revenues		$	1,366,417	$	1,796,161	$	2,501,315
Significant expenses:
Cost of goods sold		765,203		1,014,812		1,410,869
Fulfillment(1)		217,003		272,288		374,345
Marketplace commissions(2)		194,753		257,915		357,257
Sales, general and administrative(3)		116,574		138,345		194,045
Technology(4)		20,305		25,619		35,044
Share-based compensation and related taxes(5)		(206)		—		104,349
Stock amendment expense		—		—		32,676
Interest income, net		(2,849)		(6,066)		(7,422)
Other (income) expense, net		(707)		2,013		946
Provision (benefit) for income taxes		15,077		23,379		(17,040)
Net income		$	41,264	$	67,856	$	16,246

__________

(1)Fulfillment include costs incurred from third-party fulfillment centers and cost to operate and staff the Company’s fulfillment centers, excluding share-based compensation and related taxes.

(2)Marketplace commissions includes referral fees charged by the various online marketplaces.

(3)Sales, general and administrative relate to employee headcount, excluding share-based compensation and related taxes, and other selling and general administrative costs.

(4)Technology represents items included in research in development within the consolidated statement of operations, excluding share-based compensation and related taxes, and the amortization of capitalized internally developed software costs.

(5)Share-based compensation and related taxes include compensation expense for both stock and cash settled restricted stock units and the related employer taxes.

Long-Lived Tangible Assets and Operating Lease Right-Of-Use-Assets by Geographic Region

The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the consolidated balance sheets were located as follows:


	December 31,
(in thousands)	2024		2025
U.S.	$	53,399	$	54,596
International	9,513		14,655

Summary of Significant Accounting Policies - Schedule of Intangible Assets Estimated Useful Life (Details)	Dec. 31, 2025
Developed Technology \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	3 years
Developed Technology \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	5 years
Customer relationships \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	1 year
Customer relationships \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	10 years
Tradename \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	5 years
Tradename \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	10 years
Non-competition agreements \| Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	2 years
Non-competition agreements \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	3 years
Domain name
Accounts, Notes, Loans and Financing Receivable [Line Items]
Intangible assets, useful life (in years)	15 years

Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2025

Temporary Equity Disclosure [Abstract]

Schedule of Convertible Preferred Stock

The following table summarizes redeemable Convertible Preferred Stock prior to the conversion into common stock upon completion of the IPO:



(in thousands, except per share data)	Original Issuance Date	Shares authorized	Shares issued and outstanding	Issuance price per share		Aggregate liquidation preference		Net carrying value
Series A Preferred Stock	May 2020	15,750	15,750	$	7.44	$	117,184	$	52,073
Series B Preferred Stock	September 2021	13,222	13,216	17.01		292,255		218,528
Total		28,972	28,966			$	409,439	$	270,601

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References + Details

Provision for Income Taxes - Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 513	$ 505
Increase (decrease) to unrecognized tax benefits taken in prior years	65	24
Increase to unrecognized tax benefits related to the current year	684	116
Decrease due to lapse of statute of limitations	(68)	(132)
Unrecognized tax benefits, end of period	$ 1,194	$ 513

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity Risk Management and Strategy The Company has implemented a robust and dynamic cybersecurity risk management program that is integrated into its overall enterprise risk management (ERM) framework. This program is designed to assess, identify and manage material risks from cybersecurity threats that could potentially affect the confidentiality, integrity, or availability of our information systems and data. Our primary goal is to ensure the reliability and security of our operations and the data we process, including proprietary business information and customer data. Key components of our cybersecurity strategy and risk management processes include: •Risk Assessments: We conduct risk assessments at least annually and on an ad-hoc basis following significant changes to our IT environment or business operations. These assessments are designed to identify potential vulnerabilities, evaluate emerging threats and determine the likelihood and potential magnitude of a cybersecurity incident. •Integration with ERM: Cybersecurity risks are continuously reviewed in the context of our broader enterprise risks, with regular updates provided to executive management to ensure alignment with business strategy and resource allocation. •Third-Party Oversight: We maintain formal processes to oversee and identify risks from cybersecurity threats associated with our use of third-party service providers and vendors. This includes pre-contract due diligence, security assessments and contractual security and privacy requirements. •External Expertise: We engage independent cybersecurity assessors, consultants and auditors to evaluate and test our systems and controls. This collaboration is designed to ensure our practices adhere to industry best standards and helps us stay ahead of evolving threat landscapes. •Employee Training: All employees receive mandatory cybersecurity awareness training upon hire and annually thereafter. To date, no risks from cybersecurity threats or previous cybersecurity incidents have materially affected the Company's business strategy, results of operations, or financial condition. We continuously monitor and invest in preventative, detective and corrective controls to manage these risks.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company has implemented a robust and dynamic cybersecurity risk management program that is integrated into its overall enterprise risk management (ERM) framework. This program is designed to assess, identify and manage material risks from cybersecurity threats that could potentially affect the confidentiality, integrity, or availability of our information systems and data. Our primary goal is to ensure the reliability and security of our operations and the data we process, including proprietary business information and customer data.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance The Board of Directors, through its Audit Committee, is responsible for the oversight of the Company’s cybersecurity risk management program. The Audit Committee receives periodic briefings and presentations from management on the Company’s cybersecurity posture, emerging risks and incident response readiness. Our VP of Information Security is responsible for developing, implementing and maintaining the cybersecurity program and reports to the Chief Information Officer. The VP of Information Security has over 15 years of progressive experience in information security, risk management and incident response. The VP of Information Security and the cybersecurity team are responsible for ongoing security monitoring, prevention, detection, mitigation, incident response and remediation of cybersecurity incidents. They inform the Audit Committee and executive management with real-time alerts for significant events. Information regarding material risks and incidents is reported to the Audit Committee at least quarterly, and immediately for any material or highly significant incident.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors, through its Audit Committee, is responsible for the oversight of the Company’s cybersecurity risk management program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives periodic briefings and presentations from management on the Company’s cybersecurity posture, emerging risks and incident response readiness.
Cybersecurity Risk Role of Management [Text Block]	Our VP of Information Security is responsible for developing, implementing and maintaining the cybersecurity program and reports to the Chief Information Officer. The VP of Information Security has over 15 years of progressive experience in information security, risk management and incident response. The VP of Information Security and the cybersecurity team are responsible for ongoing security monitoring, prevention, detection, mitigation, incident response and remediation of cybersecurity incidents. They inform the Audit Committee and executive management with real-time alerts for significant events. Information regarding material risks and incidents is reported to the Audit Committee at least quarterly, and immediately for any material or highly significant incident.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Chief Information Officer
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our VP of Information Security is responsible for developing, implementing and maintaining the cybersecurity program and reports to the Chief Information Officer. The VP of Information Security has over 15 years of progressive experience in information security, risk management and incident response. The VP of Information Security and the cybersecurity team are responsible for ongoing security monitoring, prevention, detection, mitigation, incident response and remediation of cybersecurity incidents. They inform the Audit Committee and executive management with real-time alerts for significant events. Information regarding material risks and incidents is reported to the Audit Committee at least quarterly, and immediately for any material or highly significant incident.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our VP of Information Security is responsible for developing, implementing and maintaining the cybersecurity program and reports to the Chief Information Officer. The VP of Information Security has over 15 years of progressive experience in information security, risk management and incident response. The VP of Information Security and the cybersecurity team are responsible for ongoing security monitoring, prevention, detection, mitigation, incident response and remediation of cybersecurity incidents. They inform the Audit Committee and executive management with real-time alerts for significant events. Information regarding material risks and incidents is reported to the Audit Committee at least quarterly, and immediately for any material or highly significant incident.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Stock-Based Compensation - Narrative (Details) - USD ($)		1 Months Ended	12 Months Ended
	Sep. 09, 2025	Aug. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			$ 97,288,000	$ 0	$ (206,000)
Total shares of common stock reserved (in shares)			28,356,000
Minimum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Discount rate			14.80%
Maximum
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Discount rate			20.00%
RSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Service-based vesting period (in years)			4 years
Estimated volatility, minimum			55.00%
Estimated volatility, maximum			60.00%
Unrecognized stock-based compensation expense			$ 66,800,000
Weighted-average remaining requisite service period (in years)			2 years 11 months 23 days
Restricted Stock Units (RSUs), Cash-Settled
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense			$ 2,300,000
Restricted Stock Units (RSUs) Agreement For CEO
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation		$ 0
ESPP \| Series A Common Stock
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation			$ 300,000
Total shares of common stock reserved (in shares)	3,086,351
Percentage of payroll deductions of eligible compensation during an offering period	15.00%
ESPP discount percentage from fair market value	85.00%
Value to be divided by the fair market value	$ 25,000
Value of shares to be authorized, maximum	$ 25,000
Employee stock purchase plan shares purchased (in shares)			0

Provision for Income Taxes - Tabular Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
Income taxes computed at the federal statutory rate	$ (167)	$ 19,160	$ 11,819
State taxes, net of federal benefits	(1,913)	3,822	2,566
Foreign tax effects	4,348	(490)	(236)
Tax Credits
Research and development credits (net of UTBs)	(3,409)	(608)	(663)
Stock-based compensation tax benefit	(26,356)
Other	253	(28)	(360)
Non-taxable or non-deductible items:
Stock amendment expense	6,862
162(m) limitation	3,342
Permanent differences		(554)	(61)
Additions to valuation allowance		2,092	1,828
Uncertain tax positions		(15)	184
Provision (benefit) for income taxes	$ (17,040)	$ 23,379	$ 15,077
Percent
Income taxes computed at the federal statutory rate	21.00%
State taxes, net of federal benefits	240.90%
Foreign tax effects	(547.60%)
Tax Credits
Research and development credits (net of UTBs)	429.30%
Stock-based compensation tax benefit	3319.40%
Other	(31.90%)
Non-taxable or non-deductible items:
Stock amendment expense	(864.20%)
162(m) limitation	(420.90%)
Benefit for income taxes	2146.10%

Other Assets and Liabilities - Schedule of Other Non-Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Other Assets And Liabilities [Abstract]
Deferred tax asset, net	$ 27,013	$ 7,976
Security deposits	4,337	2,605
Other assets	0	3
Other non-current assets	$ 31,350	$ 10,584

Segment Information

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Information

17. Segment Information

The Company manages its business on a consolidated basis and operates as a single operating and reportable segment. The Company primarily derives its revenue in the United States by selling products to customers via online marketplaces.

The Company’s chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer, who reviews financial information on a consolidated basis. The CODM uses consolidated net income to assess financial performance and allocate resources. Net income is used by the CODM to make key operating decisions by comparing actual net income to historical results and previously forecasted financial information. The CODM does not review assets in evaluating the results of the reportable segment.

The following table presents selected financial information with respect to the Company’s single operating and reportable segment:


	Year Ended December 31,
(in thousands)		2023		2024		2025
Revenues		$	1,366,417	$	1,796,161	$	2,501,315
Significant expenses:
Cost of goods sold		765,203		1,014,812		1,410,869
Fulfillment(1)		217,003		272,288		374,345
Marketplace commissions(2)		194,753		257,915		357,257
Sales, general and administrative(3)		116,574		138,345		194,045
Technology(4)		20,305		25,619		35,044
Share-based compensation and related taxes(5)		(206)		—		104,349
Stock amendment expense		—		—		32,676
Interest income, net		(2,849)		(6,066)		(7,422)
Other (income) expense, net		(707)		2,013		946
Provision (benefit) for income taxes		15,077		23,379		(17,040)
Net income		$	41,264	$	67,856	$	16,246

__________

(1)Fulfillment include costs incurred from third-party fulfillment centers and cost to operate and staff the Company’s fulfillment centers, excluding share-based compensation and related taxes.

(2)Marketplace commissions includes referral fees charged by the various online marketplaces.

(3)Sales, general and administrative relate to employee headcount, excluding share-based compensation and related taxes, and other selling and general administrative costs.

(5)Share-based compensation and related taxes include compensation expense for both stock and cash settled restricted stock units and the related employer taxes.

See Note 2—Summary of Significant Accounting Policies for additional information about revenue disaggregation.

The Company's long-lived tangible assets, as well as the Company's operating lease right-of-use assets recognized on the consolidated balance sheets were located as follows:


	December 31,
(in thousands)	2024		2025
U.S.	$	53,399	$	54,596
International	9,513		14,655

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 289,049	$ 175,615
Accounts receivable, net of allowance	177,214	106,926
Inventory	294,737	264,103
Prepaid expenses and other current assets	31,575	11,438
Total current assets	792,575	558,082
Property and equipment, net	41,087	35,035
Intangible assets, net	16,694	6,906
Goodwill	37,769	25,938
Operating lease right-of-use assets	28,164	27,877
Other non-current assets	31,350	10,584
Total assets	947,639	664,422
Current Liabilities:
Accounts payable	274,977	211,558
Accrued expenses	53,818	37,845
Operating lease liabilities, current	8,826	8,030
Other current liabilities	921	266
Total current liabilities	338,542	257,699
Operating lease liabilities, non-current	22,009	22,095
Other non-current liabilities	6,093	5,303
Total liabilities	366,644	285,097
Commitments and contingencies (Note 14)
Stockholders' equity:
Convertible Preferred stock, $0.001 par value: 28,972 and no shares authorized; 28,966 and no shares issued and outstanding, respectively; refer to Note 10 for aggregate liquidation preference	0	270,601
Preferred stock, $0.001 par value: 88,869 and 200,000 shares authorized; 86,792 and no shares issued and outstanding, respectively	0	86
Additional paid-in capital	551,648	2,764
Accumulated other comprehensive loss	448	(985)
Retained earnings	28,722	106,855
Total stockholders' equity	580,995	108,724
Total liabilities, convertible preferred stock and stockholders' equity	947,639	664,422
Series A Common Stock
Stockholders' equity:
Common stock	155	0
Series B Common Stock
Stockholders' equity:
Common stock	22	0
Common Stock
Stockholders' equity:
Common stock	$ 0	$ 4

Related-Party Lease Agreement (Details)	Dec. 31, 2025 wholly_owned_majority_stockholder
Related Party Transactions [Abstract]
Number of wholly owned majority stockholders in lease (in wholly owned majority stockholder)	2

Business Acquisitions - Schedule of Consideration Paid (Details) - ROI Hunter and iDesign $ in Thousands	1 Months Ended
	Dec. 18, 2025 USD ($)
Business Combination, Goodwill, Reportable Segment Assignment [Line Items]
Cash	$ 25,120
Deferred acquisition consideration	1,628
Fair value of total consideration transferred	$ 26,748

Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Consideration Paid

The following tables summarize the consideration paid for the acquired entities and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date:


(in thousands)	Amount
Cash	$	25,120
Deferred acquisition consideration	1,628
Fair value of total consideration transferred	$	26,748

Schedule of Assets Acquired and Liabilities Assumed


(in thousands)	Amount
Cash and cash equivalents	$	5,824
Accounts receivable	2,574
Prepaid expenses and other	263
Property and equipment	120
Intangible assets	13,628
Other non-current assets	206
Accounts payable	(931)
Accrued liabilities	(3,863)
Deferred tax liabilities	(2,904)
Total identifiable net assets	$	14,917
Goodwill	11,831
Fair value of total consideration transferred	$	26,748

Schedule of Identifiable Intangible Assets Acquired and Estimated Useful Lives

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:


(in thousands, except for years data)	Acquisition Date Fair Value		Useful Life at Acquisition (in years)
Developed technology	$	5,425	3
Customer relationships	4,391		1-5
Tradenames	1,538		5
Non-competition agreements	2,274		3

Intangible assets, net	$	13,628

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Goodwill & Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 25,938	$ 25,938
Acquisition activity	11,831	0
Goodwill, ending balance	$ 37,769	$ 25,938

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-41

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 740
-Name Accounting Standards Codification
-Section 55
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478064/805-740-55-13

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 39
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-39

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2025	Mar. 02, 2026
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2025
Document Transition Report	false
Entity File Number	001-42852
Entity Registrant Name	Pattern Group Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2556861
Entity Address, Address Line One	1441 West Innovation Way
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Lehi
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84043
City Area Code	866
Local Phone Number	765-1355
Title of 12(b) Security	Series A common stock, par value $0.001 per share
Trading Symbol	PTRN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float	$ 550
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement relating to its 2026 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K where indicated. Such Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Central Index Key	0001811935
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2025
Series A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		155,248,477
Series B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21,702,510

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Description of Business Pattern Inc. was incorporated in Utah in January 2013. Pattern Group Inc. (“Pattern” or the “Company”) was incorporated in Utah in January 2019, and subsequently converted to a Delaware corporation in May 2020. Following the Company’s incorporation, the stockholders of Pattern Inc. contributed all shares of Pattern Inc. to the Company in exchange for shares in the Company, and Pattern Inc. continued as a wholly-owned subsidiary of the Company. Pattern, an ecommerce accelerator, uses its technology platform, data science and a team of global experts to drive growth for brands. The Company acquires inventory from brand partners to sell to consumers, enabling full control over content, pricing, logistics and customer service. Brand partners that contract with the Company operate in various industries, including health and wellness, beauty and personal care, home and lifestyle, pet, sports and outdoors and consumer electronics. Completion of Initial Public Offering In September 2025, the Company completed its initial public offering (“IPO”) of shares of Series A common stock. Immediately prior to the completion of the IPO, all the Company’s then-outstanding shares of Series A Preferred Stock and Series B Preferred Stock were converted and reclassified into shares of Series A common stock (see Note 10—Convertible Preferred Stock for more information). In addition, all the Company’s then-outstanding shares of Founder Voting Preferred Stock and Founder Non-Voting Preferred Stock were reclassified and converted into shares of Series A common stock and Series B common stock, as applicable (see Note 11—Stockholders’ Equity for more information).

Benefit Plan	12 Months Ended
Benefit Plan	Dec. 31, 2025
Retirement Benefits [Abstract]
Benefit Plan	15. Benefit Plan The Company has an employee retirement benefit plan (the “Plan”) under Section 401(k) of the Internal Revenue Code. The Plan covers employees who are U.S. citizens, are at least 21 years of age and have been employed by the Company longer than 90 days. The Company contributes a safe harbor match in an amount equal to employee contributions up to 3% of the participating employee’s compensation and matches an amount equal to half of the employee contributions between 3% and 5%. These contributions are subject to ERISA requirements. Total contributions by the Company to the Plan were $2.0 million, $2.5 million and $2.7 million during the years ended December 31, 2023, 2024 and 2025, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details