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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule Of Components Of Income Tax Expense Or Benefit | The components of the Company’s provision for income taxes were as follows (in thousands):
| December 31,
| 2023 |  | 2022 |  | 2021
Current |  |  |  |  |
Federal | $ | 20,008 |  |  | $ | 16,731 |  |  | $ | 17,790 |
State | 5,482 |  |  | 1,542 |  |  | 5,357 |
Total current provision | 25,490 |  |  | 18,272 |  |  | 23,147 |
Deferred |  |  |  |  |
Federal | (5,954) |  |  | (2,039) |  |  | (3,014) |
State | (1,366) |  |  | 1,307 |  |  | (718) |
Total deferred benefit | (7,320) |  |  | (732) |  |  | (3,732) |
Provision for income taxes | $ | 18,170 |  |  | $ | 17,541 |  |  | $ | 19,415 |
Schedule Of Effective Income Tax Reconciliation | A reconciliation of income tax expense using the U.S. statutory federal income tax rate to the provision for income taxes is as follows (in thousands):
| December 31,
| 2023 |  | 2022 |  | 2021
Tax expense at U.S. statutory rate | $ | 8,569 |  |  | $ | 8,133 |  |  | $ | 2,083 |
State tax expense, net of federal benefit | 1,828 |  |  | 1,498 |  |  | 606 |
Non-deductible expenses | (831) |  |  | (380) |  |  | 344 |
Stock-based compensation | 3,956 |  |  | 4,921 |  |  | (28,727) |
Excess compensation limitations | 4,365 |  |  | 4,776 |  |  | 45,359 |
Foreign-derived intangible income deduction | — |  |  | (3) |  |  | (455) |
R&D tax credit benefit | — |  |  | — |  |  | (230) |
Uncertain tax positions | 7 |  |  | (39) |  |  | 280 |
Change in valuation allowance | — |  |  | — |  |  | — |
Provision to return true up | 203 |  |  | (1,823) |  |  | (121) |
Other | 73 |  |  | 458 |  |  | 276 |
Provision for income taxes | $ | 18,170 |  |  | $ | 17,541 |  |  | $ | 19,415 |
Schedule Of Components Of Deferred Income Taxes | Significant components of deferred tax balances were as follows (in thousands):
| December 31,
| 2023 |  | 2022
Deferred tax assets |  |  |
Net operating losses | $ | 334 |  |  | $ | 371 |
Uniform capitalization adjustment to inventory | 9,930 |  |  | 5,741 |
Stock-based compensation | 3,959 |  |  | 2,236 |
Accrued compensation and benefits | 1,444 |  |  | 579 |
Lease liability | 11,812 |  |  | 4,837 |
Inventory reserve | 1,407 |  |  | 837 |
Returns reserve | 749 |  |  | 873 |
Sales tax accrual | 406 |  |  | 421 |
Other | 856 |  |  | 969 |
Total deferred tax assets | 30,897 |  |  | 16,864 |
Less: valuation allowance | — |  |  | — |
Total net deferred tax assets | 30,897 |  |  | 16,864 |
Deferred tax liabilities |  |  |
Property and equipment | (1,811) |  |  | (2,028) |
Right-of-use asset | (10,795) |  |  | (3,865) |
Total deferred tax liabilities | (12,606) |  |  | (5,894) |
Net deferred tax assets | $ | 18,291 |  |  | $ | 10,971 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the activity related to our uncertain tax positions during the years ended December 31, 2023 and 2022 (in thousands):
| December 31,
| 2023 |  | 2022
Beginning balance of uncertain tax positions | $ | 167 |  |  | $ | 167 |
Increases related to current year tax positions | — |  |  | — |
Decreases related to current year tax positions | — |  |  | — |
Increases related to prior year tax positions | — |  |  | — |
Changes due to lapse of statute of limitations | — |  |  | — |
Settlement with taxing authorities | — |  |  | — |
Ending balance of uncertain tax positions | $ | 167 |  |  | $ | 167 |

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