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Consolidated Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property, Plant and Equipment

The estimated useful lives of the Company’s property and equipment are as follows:

Molds and tooling			3 years
Computer and software			3 - 7 years
Displays			2 years
Equipment			5 years
Furniture and fixtures			7 years
Leasehold improvements			Shorter of remaining lease term or estimated useful life

Net sales by geographical region can be found in the disaggregation of net sales within this Note 2 above. The following table presents the Company’s property and equipment, net of depreciation and amortization, by geographic region: 

			As of December 31,
			2023						2022
			(in thousands)
United States			$	60,644					$	74,054
China			92,931						55,170
Rest of World			12,677						8,117
Total property and equipment, net			$	166,252					$	137,341

Property and equipment, net consisted of the following:

			As of December 31,
			2023						2022
			(in thousands)
Molds and tooling			$	286,305					$	209,984
Computer and software			100,225						88,483
Displays			91,074						90,722
Equipment			19,391						14,653
Furniture and fixtures			10,614						11,418
Leasehold improvements			36,061						31,315
Total property and equipment			543,670						446,575
Less: accumulated depreciation and amortization			(389,689)						(322,022)
Construction in progress			12,271						12,788
Property and equipment, net			$	166,252					$	137,341

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure

Prepaid expenses and other current assets consisted of the following:

			As of December 31,
			2023						2022
			(in thousands)
Prepaid expenses			$	12,308					$	79,665
Prepaid advertising			7,876						6,609
Related party receivables			—						20,069
Derivative assets			—						22,676
DPP receivable			—						22,294
Other receivables			38,127						30,518
Prepaid expenses and other current assets			$	58,311					$	181,831

Schedule of Accrued Liabilities

Accrued expenses and other current liabilities consisted of the following:

			As of December 31,
			2023						2022
			(in thousands)
Accrued customer incentives			$	207,593					$	230,195
Accrued expenses			106,198						75,839
Accrued compensation and benefits			89,658						71,762
Accrued returns			58,828						45,529
Sales and other tax payable			19,904						43,243
Accrued advertising			35,968						6,108
Accrued delivery and distributions			29,850						19,946
Accrued warranty			28,090						20,958
Operating lease liabilities, current			8,390						13,038
Accrued professional fees			8,071						4,177
Derivative liabilities			3,370						—
Other			24,413						21,228
Accrued expenses and other current liabilities			$	620,333					$	552,023

X

- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

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