Annual report [Section 13 and 15(d), not S-K Item 405]

Segments

v3.25.1
Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments Segments
The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The Company has determined that it operates in one operating segment as it only reports operating results on an aggregate basis to the CODM. Segment revenues are described in Note 2, Significant Accounting Policies. All company assets are located within the United States and all revenues are generated within the United States. All business activities are managed on a consolidated basis.
The CODM uses net loss as reported in the consolidated statements of operations to evaluate the Company’s return on assets in deciding whether and how to invest into the Company’s consolidated operations, such as to expand its product offerings or increase advertising expenditures. The CODM reviews segment assets as presented on its consolidated balance sheets.
The Company does not have intra-entity sales or transfers.
The accounting policies of the segment is identical to those described in Note 2, Significant Accounting Policies.
Presented in the table below is segment information for the year ended December 31, 2024 (with retrospective presentation for comparative period) and a reconciliation of segment information, including significant expenses, to consolidated net loss (in thousands):

Year Ended December 31,
2024 2023
Segment Revenue, Significant Expenses and Net Loss:
Total revenue, net $ 203,425  $ 259,278 
Cost of goods sold
 94,077  121,919 
Gross profit
 109,348  137,359 
Less significant expenses:
Fulfillment costs 45,195  58,777 
Advertising 10,265  21,292 
Product development and other selling, general and administrative expenses(1)
54,619  71,216 
Less other segment items:
Interest income (3,056) (3,773)
Other segment items(2)
29,748  33,079 
Consolidated net loss
 $ (27,423) $ (43,232)

(1)Includes all product development and selling, general and administrative expenses, excluding fulfillment costs, stock-based compensation and depreciation and amortization.

(2)Includes stock-based compensation, depreciation and amortization and all non-operating expenses, except interest income.