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Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 70,458 $ 37,830
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,390 3,646
Equity-based compensation 3,664 2,412
Deferred income taxes   (842)
Changes in operating assets and liabilities:    
Accounts receivable (2,094) 38
Inventories (46,496) 30,670
Income taxes receivable 246 (1,703)
Prepaid expenses and other current assets (18,985) 4,246
Other assets (2,260) 28
Accounts payable 15,576 8,967
Income taxes payable 800 350
Accrued expenses 13,005 2,297
Returns reserve 25,240 (11,743)
Other current liabilities 5,867 31
Net cash provided by operating activities 68,411 76,227
Investing activities:    
Purchases of property and equipment (1,768) (1,844)
Net cash used in investing activities (1,768) (1,844)
Financing activities:    
Proceeds from borrowings on line of credit   30,000
Repayment of borrowings on line of credit   (15,000)
Payment of deferred offering costs   (41)
Proceeds from the exercise of stock options, net 9,448 4,065
Net cash provided by financing activities 9,448 19,024
Effect of exchange rate changes on cash and cash equivalents (499) (124)
Net increase in cash and cash equivalents 75,592 93,283
Cash and cash equivalents, beginning of period 146,013 65,418
Cash and cash equivalents, end of period 221,605 158,701
Supplemental disclosure of cash flow information:    
Interest   295
Income taxes, net of refund $ 1,511 $ 8,500