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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 240,119 $ 259,759
Restricted cash 691 685
Investments 62,850 42,674
Accounts receivable, net 69,446 57,313
Inventories 186,842 172,489
Prepayments and other current assets 17,312 14,672
Total current assets 577,260 547,592
Non-current assets    
Operating lease right-of-use assets 432,801 451,930
Property and equipment, net 33,870 29,498
Intangible assets, net 5,588 6,198
Goodwill 12,586 12,586
Deferred tax assets 11,007 10,026
Other non-current assets 9,663 12,645
Total non-current assets 505,515 522,883
Total assets 1,082,775 1,070,475
Current liabilities    
Accounts payable 73,687 78,163
Contract liabilities 5,983 4,486
Current operating lease liabilities 96,268 88,521
Income tax payable 6,792 13,615
Accrued expenses and other current liabilities 91,161 79,594
Total current liabilities 273,891 264,379
Non-current liabilities    
Operating lease liabilities, non-current 371,446 395,235
Deferred tax liabilities 686 941
Finance lease obligations, non-current 641 382
Non-current income tax payable 4,667 4,321
Total non-current liabilities 377,440 400,879
Total liabilities 651,331 665,258
Commitments and contingencies 0 0
Shareholders’ equity    
Treasury shares, at cost (406,926 and 609,390 shares held as of June 30, 2025 and December 31, 2024, respectively) (7,295) (11,816)
Additional paid-in capital 94,325 120,262
Accumulated other comprehensive income (loss) 2,168 (4,136)
Retained earnings 340,342 298,861
Total shareholders’ equity 431,444 405,217
Total liabilities and shareholders’ equity 1,082,775 1,070,475
Class A ordinary shares    
Shareholders’ equity    
Common stock issued 1,501 1,643
Class B ordinary shares    
Shareholders’ equity    
Common stock issued $ 403 $ 403