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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 251,711 $ 259,759
Restricted cash 697 685
Investments 35,101 42,674
Accounts receivable, net 67,000 57,313
Inventories 204,854 172,489
Prepayments and other current assets 19,842 14,672
Total current assets 579,205 547,592
Non-current assets    
Operating lease right-of-use assets 438,692 451,930
Property and equipment, net 32,688 29,498
Intangible assets, net 5,893 6,198
Goodwill 12,586 12,586
Deferred tax assets 11,366 10,026
Other non-current assets 10,607 12,645
Total non-current assets 511,832 522,883
Total assets 1,091,037 1,070,475
Current liabilities    
Accounts payable 87,814 78,163
Contract liabilities 5,665 4,486
Current operating lease liabilities 90,823 88,521
Income tax payable 20,001 13,615
Accrued expenses and other current liabilities 87,510 79,594
Total current liabilities 291,813 264,379
Non-current liabilities    
Operating lease liabilities, non-current 380,842 395,235
Deferred tax liabilities 759 941
Finance lease obligations, non-current 241 382
Non-current income tax payable 4,485 4,321
Total non-current liabilities 386,327 400,879
Total liabilities 678,140 665,258
Commitments and contingencies 0 0
Shareholders’ equity    
Treasury shares, at cost (2,008,984 and 609,390 shares held as of March 31, 2025 and December 31, 2024, respectively) (34,550) (11,816)
Additional paid-in capital 121,490 120,262
Accumulated other comprehensive loss (2,096) (4,136)
Retained earnings 326,007 298,861
Total shareholders’ equity 412,897 405,217
Total liabilities and shareholders’ equity 1,091,037 1,070,475
Class A ordinary shares    
Shareholders’ equity    
Common stock issued 1,643 1,643
Class B ordinary shares    
Shareholders’ equity    
Common stock issued $ 403 $ 403