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Segment Reporting | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting Our chief operating decision maker (“CODM”) is our Chief Executive Officer (“CEO”), who reviews financial information presented on a consolidated basis for purposes of making decisions, assessing financial performance and allocating resources. We operate our business as one operating segment and therefore we have one reportable segment that offers an assortment of merchandise across a broad range of categories, including furniture, outdoor, bath, lighting, textiles, and décor. The assortment of merchandise can be purchased through our Retail and eCommerce sales channels. The majority of our revenue is generated through sales to clients in the United States. Sales to clients outside of the United States are not significant. Further, no single client represents ten percent or more of our net revenue. There are no inter-segment transactions. Additionally, all property, furniture and equipment are located in the United States. The accounting policies of our single operating segment are the same as those described within our summary of significant accounting policies in the Notes to the Consolidated Financial Statements in our Annual Report on Form 10-K for the year ended December 31, 2025. The CODM assesses performance at the consolidated level and makes business decisions based on various key performance indicators, primarily net income, which is also reported on the condensed consolidated statements of comprehensive income as net and comprehensive income. Our CODM uses net income to determine the allocation of resources for investments in retail Showrooms, information technology and systems infrastructure, as well as supply chain investments. Net income is also used as a method for planning and forecasting overall expected performance and for evaluating, on a quarterly and annual basis, actual results against such expectations. Asset information is reported on the condensed consolidated balance sheets as total assets. However, asset information is not used for purposes of making decisions, assessing financial performance or allocating resources. Refer to the condensed consolidated statements of cash flow for property, furniture and equipment expenditures, related depreciation and amortization and other significant noncash items. The following table shows revenue by merchandise sales channel and segment expenses (amounts in thousands):
| Six months ended |  | Three months ended
| June 30, |  | June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Retail | $ | 584,609 |  |  | $ | 553,639 |  |  | $ | 320,202 |  |  | $ | 298,186 |
eCommerce | 114,564 |  |  | 116,168 |  |  | 64,695 |  |  | 60,249 |
Total net revenue | $ | 699,173 |  |  | $ | 669,807 |  |  | $ | 384,897 |  |  | $ | 358,435 |
Less costs and expenses(1): |  |  |  |  |  |  |
Cost of goods sold | 412,665 |  |  | 405,993 |  |  | 212,824 |  |  | 210,208 |
Corporate and administrative expenses(2) | 117,769 |  |  | 108,251 |  |  | 61,018 |  |  | 53,642 |
Selling expenses | 90,505 |  |  | 82,344 |  |  | 45,851 |  |  | 37,952 |
Marketing expenses | 21,728 |  |  | 20,925 |  |  | 10,938 |  |  | 9,868 |
Loss on disposal of assets | 104 |  |  | 108 |  |  | — |  |  | — |
Interest income, net | (1,518) |  |  | (1,317) |  |  | (1,064) |  |  | (744) |
Other income | (892) |  |  | (236) |  |  | (45) |  |  | (150) |
Income before taxes | 58,812 |  |  | 53,739 |  |  | 55,375 |  |  | 47,659 |
Income tax expense | 16,943 |  |  | 13,791 |  |  | 15,729 |  |  | 12,593 |
Net and comprehensive income | $ | 41,869 |  |  | $ | 39,948 |  |  | $ | 39,646 |  |  | $ | 35,066 |
(1) Significant costs and expenses include cost of goods sold, corporate and administrative expenses, selling expenses and marketing expenses. (2) Corporate and administrative expenses primarily include warehouse expenses, equity based compensation costs, information technology, human resources and legal costs, insurance expenses, accounting fees and corporate sustainability costs.

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