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Segment and Geographic Information (Tables) | 6 Months Ended
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Aug. 31, 2025
Segment Reporting [Abstract] |
Schedule of segment information | The following tables summarize reportable segment information with a reconciliation to our condensed consolidated results for the periods presented:
| Three Months Ended August 31, 2025
(in thousands) | Home & Outdoor |  | Beauty & Wellness (1) |  | Total
Sales revenue, net | $ | 208,721 |  |  | $ | 223,060 |  |  | $ | 431,781 |
Less: (2) |  |  |  |  |
Cost of goods sold | 108,636 |  |  | 132,464 |  |  | 241,100 |
Operating expense (3) | 172,663 |  |  | 333,735 |  |  | 506,398 |
Operating loss | $ | (72,578) |  |  | $ | (243,139) |  |  | $ | (315,717) |
Non-operating income, net |  |  |  |  | 249 |
Interest expense |  |  |  |  | 14,221 |
Loss before income tax |  |  |  |  | $ | (329,689) |
| Three Months Ended August 31, 2024
(in thousands) | Home & Outdoor |  | Beauty & Wellness |  | Total
Sales revenue, net | $ | 241,944 |  |  | $ | 232,277 |  |  | $ | 474,221 |
Less: (2) |  |  |  |  |
Cost of goods sold | 117,641 |  |  | 140,510 |  |  | 258,151 |
Operating expense (3) | 93,151 |  |  | 88,067 |  |  | 181,218 |
Operating income | $ | 31,152 |  |  | $ | 3,700 |  |  | $ | 34,852 |
Non-operating income, net |  |  |  |  | 170 |
Interest expense |  |  |  |  | 13,216 |
Income before income tax |  |  |  |  | $ | 21,806 |
| Six Months Ended August 31, 2025
(in thousands) | Home & Outdoor |  | Beauty & Wellness (1) |  | Total
Sales revenue, net | $ | 386,704 |  |  | $ | 416,732 |  |  | $ | 803,436 |
Less: (2) |  |  |  |  |
Cost of goods sold | 198,529 |  |  | 239,215 |  |  | 437,744 |
Operating expense (3) | 474,546 |  |  | 613,901 |  |  | 1,088,447 |
Operating loss | $ | (286,371) |  |  | $ | (436,384) |  |  | $ | (722,755) |
Non-operating income, net |  |  |  |  | 557 |
Interest expense |  |  |  |  | 28,029 |
Loss before income tax |  |  |  |  | $ | (750,227) |
| Six Months Ended August 31, 2024
(in thousands) | Home & Outdoor |  | Beauty & Wellness |  | Total
Sales revenue, net | $ | 440,403 |  |  | $ | 450,665 |  |  | $ | 891,068 |
Less: (2) |  |  |  |  |
Cost of goods sold | 211,867 |  |  | 260,052 |  |  | 471,919 |
Operating expense (3) | 181,534 |  |  | 172,000 |  |  | 353,534 |
Operating income | $ | 47,002 |  |  | $ | 18,613 |  |  | $ | 65,615 |
Non-operating income, net |  |  |  |  | 270 |
Interest expense |  |  |  |  | 25,759 |
Income before income tax |  |  |  |  | $ | 40,126 |
(1)The three and six months ended August 31, 2025 include a full three and six months, respectively, of operating results from Olive & June, acquired on December 16, 2024. For additional information see Note 4. (2)These significant expense categories and amounts align with the reportable segment information that is regularly provided to the CODM. (3)Operating expense for both reportable segments includes SG&A expe nse. Operating expense during the three and six months ended August 31, 2025 includes asset impairment charges of $326.4 million and $740.8 million, respectively, of which $85.5 million and $304.6 million was recognized in our Home & Outdoor segment, respectively, and $240.9 million and $436.1 million was recognized in our Beauty & Wellness segment, respectively. Operating expense during the three months ended August 31, 2025 and three and six months ended August 31, 2024 also includes restructuring charges. See Note 5 for further information on the asset impairment charges. The following tables summarize reportable segment information for the periods presented:
| Three Months Ended August 31, 2025
(in thousands) | Home & Outdoor |  | Beauty & Wellness (1) |  | Total
Capital and intangible asset expenditures | $ | 6,907 |  |  | $ | 4,563 |  |  | $ | 11,470 |
Depreciation and amortization | 6,040 |  |  | 6,820 |  |  | 12,860 |
Non-cash share-based compensation | 4,248 |  |  | 5,124 |  |  | 9,372 |
Asset impairment charges | 85,537 |  |  | 240,857 |  |  | 326,394 |
| Three Months Ended August 31, 2024
(in thousands) | Home & Outdoor |  | Beauty & Wellness |  | Total
Capital and intangible asset expenditures | $ | 1,722 |  |  | $ | 3,162 |  |  | $ | 4,884 |
Depreciation and amortization | 6,590 |  |  | 7,202 |  |  | 13,792 |
Non-cash share-based compensation | 2,814 |  |  | 2,673 |  |  | 5,487 |
| Six Months Ended August 31, 2025
(in thousands) | Home & Outdoor |  | Beauty & Wellness (1) |  | Total
Capital and intangible asset expenditures | $ | 13,890 |  |  | $ | 10,942 |  |  | $ | 24,832 |
Depreciation and amortization | 12,599 |  |  | 14,345 |  |  | 26,944 |
Non-cash share-based compensation | 4,282 |  |  | 5,386 |  |  | 9,668 |
Asset impairment charges | 304,632 |  |  | 436,147 |  |  | 740,779 |
| Six Months Ended August 31, 2024
(in thousands) | Home & Outdoor |  | Beauty & Wellness |  | Total
Capital and intangible asset expenditures | $ | 7,467 |  |  | $ | 6,559 |  |  | $ | 14,026 |
Depreciation and amortization | 13,237 |  |  | 14,391 |  |  | 27,628 |
Non-cash share-based compensation | 5,827 |  |  | 5,493 |  |  | 11,320 |
(1)The three and six months ended August 31, 2025 include a full three and six months, respectively, of operating results from Olive & June, acquired on December 16, 2024. For additional information see Note 4.
Schedule of domestic and international long-lived assets | The following table presents net sales revenue by geographic region, in U.S. Dollars:
| Three Months Ended August 31, |  | Six Months Ended August 31,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Domestic sales revenue, net (1) | $ | 330,496 |  |  | 76.5 | % |  | $ | 365,750 |  |  | 77.1 | % |  | $ | 608,456 |  |  | 75.7 | % |  | $ | 666,430 |  |  | 74.8 | %
International sales revenue, net | 101,285 |  |  | 23.5 | % |  | 108,471 |  |  | 22.9 | % |  | 194,980 |  |  | 24.3 | % |  | 224,638 |  |  | 25.2 | %
Total sales revenue, net | $ | 431,781 |  |  | 100.0 | % |  | $ | 474,221 |  |  | 100.0 | % |  | $ | 803,436 |  |  | 100.0 | % |  | $ | 891,068 |  |  | 100.0 | %
(1)Domestic net sales revenue includes net sales revenue from the U.S. and Canada.

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