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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation
S-K,
we are providing the following information about the relationship between executive “compensation actually paid” (as computed in accordance with Item 402 of Regulation
S-K)
and certain financial performance of the Company. “Compensation actually paid” does not reflect the actual amount of compensation earned or paid to an executive officer, and may differ significantly because of the impact of equity awards. For further information concerning the Company’s variable
pay-for-performance
philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Executive Compensation.”
 
                   
Value of Initial Fixed $100
Investment Based on:
       
Fiscal
Year
 
Summary
Compensation
Table Total
for PEO(1)
 
Compensation
Actually Paid
to PEO(2)
 
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs(3)
 
Average
Compensation
Actually Paid
to
Non-PEO

NEOs(4)
 
Total
Shareholder
Return(5)
 
Peer Group
Total
Shareholder
Return(6)
 
Net
Income
(millions)(7)
 
Adjusted
EBITDA
(millions)(8)
 (a)
 
(b)
 
(c)
 
(d)
 
(e)
 
(f)
 
(f)
 
(h)
 
(i)
2024
    $ 2,257,528     $ 2,257,528     $ 880,058     $ 432,075     $ 75.97     $ 81.11     $ 69     $ 133
2023
    $ 2,873,977     $ 2,873,977     $ 1,734,494     $ 2,573,925     $ 92.58     $ 80.60     $ 125     $ 203
2022
    $ 3,599,838     $ (886,579 )     $ 1,261,987     $ 263,241     $ 76.17     $ 69.59     $ 137     $ 223
 
(1)
The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Reed (our Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation—Summary Compensation Table.”
(2)
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Reed, as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Reed during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Mr. Reed’s total compensation for each year to determine the compensation actually paid:
 
Fiscal
Year
  
Reported Summary
Compensation
Table Total for PEO
  
Average Reported
Value of
Equity Awards(a)
  
Average Equity

Award
Adjustments(b)
 
Compensation
Actually Paid to PEO
2024
     $ 2,257,528        $—        $—            $ 2,257,528
2023
     $ 2,873,977        $—          $—            $ 2,873,977  
2022
     $ 3,599,838        $—        $(4,486,417     $ (886,579 )
 
  (a)
The grant date fair value of equity awards represents the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
  (b)
Mr. Reed did not receive equity awards during 2024, 2023 or 2022. The average equity award adjustment of $(4,486,417) made in 2022 relates to the change in the fair value (from prior
year-end
to vesting date) of all Stock Awards granted in any prior fiscal year that vested.
(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers as a group (excluding Mr. Reed) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the named executive officers (excluding Mr. Reed) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024 Dawn Phillipson, Kathy Veltri, Jennifer Porter and Lisa Chi; (ii) for 2023, Dawn Phillipson, Kathy Veltri, Lisa Chi and Venkat Nachiappan; and (iii) for 2022, Dawn Phillipson and Kathy Veltri.
 
(4)
The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Reed), as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Reed) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Reed) for each year to determine the compensation actually paid, using the same methodology described
above
:
 
Fiscal
Year
  
Average Reported Summary
Compensation Table Total
For
Non-PEO
NEOs
  
Average Reported
Value of Equity
Awards(a)
  
Average Equity

Award
Adjustments(b)
 
Average Compensation
Actually Paid to
Non-PEO
NEOs
2024
       $  880,058      $ 284,789        $ (447,983     $ 432,075  
2023
       $1,734,494      $ 1,067,786        $ 839,431       $ 2,573,925  
2022
       $1,261,987      $ 287,500        $ (998,746     $ 263,241  
 
  (a)
The grant date fair value of equity awards represents the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
  (b)
Description of average equity award adjustments:
 
    
2024
    
2023
    
2022
 
Deduction
of the grant date fair value of awards reported in the “Stock Awards” column of the Summary Compensation Table (Stock Awards) for the covered year
   $ (284,789    $ (1,067,786    $ (287,500
Addition
of the
year-end
fair value of all Stock Awards granted during the covered fiscal year that are outstanding and unvested
     170,619        1,501,066        487,500  
Change
in the
year-end
fair value (from prior
year-end)
of all Stock Awards granted in any prior fiscal year that are outstanding and unvested
     (235,231      165,917        (608,698
Change
in the fair value (from prior
year-end
to vesting date) of all Stock Awards granted in any prior fiscal year that vested
     (98,582      240,234        (590,048
  
 
 
    
 
 
    
 
 
 
Total adjustments
   $ (447,983    $ 839,431      $ (998,746
  
 
 
    
 
 
    
 
 
 
 
(5)
Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period.
(6)
Cumulative Peer Group TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Dow Jones U.S. Furnishings index’s share price at the end and the beginning of the measurement period by the Dow Jones U.S. Furnishings index’s share price at the beginning of the measurement period.
(7)
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
(8)
The dollar amounts reported represent the amount of adjusted EBITDA, which is a
non-GAAP
measure. We believe that adjusted EBITDA is a useful measure of operating performance as the adjustments eliminate items that we believe are not reflective of underlying operating performance
 
  in a particular period. Adjusted EBITDA facilitates a comparison of our operating performance on a consistent basis from
period-to-period
and provides for a more complete understanding of factors and trends affecting our business. For more information about this measure, refer to the Company’s Annual Report on Form
10-K
for the applicable year.
   
Company Selected Measure Name adjusted EBITDA    
Named Executive Officers, Footnote The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers as a group (excluding Mr. Reed) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the named executive officers (excluding Mr. Reed) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024 Dawn Phillipson, Kathy Veltri, Jennifer Porter and Lisa Chi; (ii) for 2023, Dawn Phillipson, Kathy Veltri, Lisa Chi and Venkat Nachiappan; and (iii) for 2022, Dawn Phillipson and Kathy Veltri.    
Peer Group Issuers, Footnote Cumulative Peer Group TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Dow Jones U.S. Furnishings index’s share price at the end and the beginning of the measurement period by the Dow Jones U.S. Furnishings index’s share price at the beginning of the measurement period.    
PEO Total Compensation Amount $ 2,257,528 $ 2,873,977 $ 3,599,838
PEO Actually Paid Compensation Amount $ 2,257,528 2,873,977 (886,579)
Adjustment To PEO Compensation, Footnote
(2)
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Reed, as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Reed during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to Mr. Reed’s total compensation for each year to determine the compensation actually paid:
 
Fiscal
Year
  
Reported Summary
Compensation
Table Total for PEO
  
Average Reported
Value of
Equity Awards(a)
  
Average Equity

Award
Adjustments(b)
 
Compensation
Actually Paid to PEO
2024
     $ 2,257,528        $—        $—            $ 2,257,528
2023
     $ 2,873,977        $—          $—            $ 2,873,977  
2022
     $ 3,599,838        $—        $(4,486,417     $ (886,579 )
 
  (a)
The grant date fair value of equity awards represents the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
  (b)
Mr. Reed did not receive equity awards during 2024, 2023 or 2022. The average equity award adjustment of $(4,486,417) made in 2022 relates to the change in the fair value (from prior
year-end
to vesting date) of all Stock Awards granted in any prior fiscal year that vested.
   
Non-PEO NEO Average Total Compensation Amount $ 880,058 1,734,494 1,261,987
Non-PEO NEO Average Compensation Actually Paid Amount $ 432,075 2,573,925 263,241
Adjustment to Non-PEO NEO Compensation Footnote
(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s named executive officers as a group (excluding Mr. Reed) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the named executive officers (excluding Mr. Reed) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024 Dawn Phillipson, Kathy Veltri, Jennifer Porter and Lisa Chi; (ii) for 2023, Dawn Phillipson, Kathy Veltri, Lisa Chi and Venkat Nachiappan; and (iii) for 2022, Dawn Phillipson and Kathy Veltri.
 
(4)
The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Reed), as computed in accordance with Item 402(v) of Regulation
S-K.
The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Reed) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation
S-K,
the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Reed) for each year to determine the compensation actually paid, using the same methodology described
above
:
 
Fiscal
Year
  
Average Reported Summary
Compensation Table Total
For
Non-PEO
NEOs
  
Average Reported
Value of Equity
Awards(a)
  
Average Equity

Award
Adjustments(b)
 
Average Compensation
Actually Paid to
Non-PEO
NEOs
2024
       $  880,058      $ 284,789        $ (447,983     $ 432,075  
2023
       $1,734,494      $ 1,067,786        $ 839,431       $ 2,573,925  
2022
       $1,261,987      $ 287,500        $ (998,746     $ 263,241  
 
  (a)
The grant date fair value of equity awards represents the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.
  (b)
Description of average equity award adjustments:
 
    
2024
    
2023
    
2022
 
Deduction
of the grant date fair value of awards reported in the “Stock Awards” column of the Summary Compensation Table (Stock Awards) for the covered year
   $ (284,789    $ (1,067,786    $ (287,500
Addition
of the
year-end
fair value of all Stock Awards granted during the covered fiscal year that are outstanding and unvested
     170,619        1,501,066        487,500  
Change
in the
year-end
fair value (from prior
year-end)
of all Stock Awards granted in any prior fiscal year that are outstanding and unvested
     (235,231      165,917        (608,698
Change
in the fair value (from prior
year-end
to vesting date) of all Stock Awards granted in any prior fiscal year that vested
     (98,582      240,234        (590,048
  
 
 
    
 
 
    
 
 
 
Total adjustments
   $ (447,983    $ 839,431      $ (998,746
  
 
 
    
 
 
    
 
 
 
   
Compensation Actually Paid vs. Total Shareholder Return LOGO    
Compensation Actually Paid vs. Net Income LOGO    
Compensation Actually Paid vs. Company Selected Measure LOGO    
Tabular List, Table
Financial Performance Measures
The following is a list of financial performance measures, which we believe, represent the most important performance used by the Company to link compensation actually paid to our named executive officers, for fiscal year 2024, to Company performance. The demand and adjusted EBITDA measures are further described above in “Executive Compensation”.
 
 
·
 
Demand
 
·
 
Adjusted EBITDA
 
·
 
Net income
   
Total Shareholder Return Amount $ 75.97 92.58 76.17
Peer Group Total Shareholder Return Amount 81.11 80.6 69.59
Net Income (Loss) $ 69,000,000 $ 125,000,000 $ 137,000,000
Company Selected Measure Amount 133,000,000 203,000,000 223,000,000
PEO Name Mr. Reed    
Measure:: 1      
Pay vs Performance Disclosure      
Name Demand    
Measure:: 2      
Pay vs Performance Disclosure      
Name Adjusted EBITDA    
Non-GAAP Measure Description
(8)
The dollar amounts reported represent the amount of adjusted EBITDA, which is a
non-GAAP
measure. We believe that adjusted EBITDA is a useful measure of operating performance as the adjustments eliminate items that we believe are not reflective of underlying operating performance
 
  in a particular period. Adjusted EBITDA facilitates a comparison of our operating performance on a consistent basis from
period-to-period
and provides for a more complete understanding of factors and trends affecting our business. For more information about this measure, refer to the Company’s Annual Report on Form
10-K
for the applicable year.
   
Measure:: 3      
Pay vs Performance Disclosure      
Name Net income    
PEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ (4,486,417)
PEO | Average Reported Value Of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (447,983) 839,431 (998,746)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (284,789) (1,067,786) (287,500)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 170,619 1,501,066 487,500
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (235,231) 165,917 (608,698)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (98,582) 240,234 (590,048)
Non-PEO NEO | Average Reported Value Of Equity Awards [Member]      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 284,789 $ 1,067,786 $ 287,500