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BUSINESS SEGMENTS | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | BUSINESS SEGMENTS Segment information The Company operates in two reportable segments: U.S. and International. The U.S. segment is the Company’s domestic business that designs, markets and distributes its products to retailers and distributors, as well as directly to consumers through third parties and its own internet websites primarily in the U.S.. The International segment is the Company’s international business that sells and distributes products to consumers primarily in the U.K., the European Union and the Asia Pacific region. The Company’s chief operation decision maker (“CODM”) is the Company’s Chief Executive Officer. The Company has segmented its operations to reflect the manner in which the CODM reviews and evaluates the results of its operations. The CODM allocates operating and capital resources and evaluates the performance of the Company’s segments based on segment net sales, segment gross margin, and segment (loss) income from operations. Such measures give recognition to specifically identifiable operating costs. Significant segment expenses that are included in segment operating income consist of cost of sales, distribution expenses (which include freight-out expenses and warehouse expenses) and selling, general and administrative expenses. Certain general and administrative expenses are not allocated to the Company’s segments as these represent corporate level activities and are reflected below as unallocated corporate expenses. These costs primarily include senior executive salaries and benefits, stock compensation, director fees and accounting, legal fees and consulting fees.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Segment Performance Measures: | (in thousands)
Net sales: |  |  |  |  |  |  |
U.S. | $ | 119,315 |  |  | $ | 130,503 |  |  | $ | 247,825 |  |  | $ | 260,983 |
International | 12,547 |  |  | 11,163 |  |  | 24,122 |  |  | 22,925 |
Total net sales | $ | 131,862 |  |  | $ | 141,666 |  |  | $ | 271,947 |  |  | $ | 283,908 |
Gross Margin: |  |  |  |  |  |  |
U.S. | $ | 46,769 |  |  | $ | 50,478 |  |  | $ | 93,333 |  |  | $ | 103,761 |
International | 4,070 |  |  | 4,072 |  |  | 8,143 |  |  | 8,336 |
Total gross margin | $ | 50,839 |  |  | $ | 54,550 |  |  | $ | 101,476 |  |  | $ | 112,097 |
(Loss) income from operations |  |  |  |  |  |  |
U.S. | $ | (29,620) |  |  | $ | 9,189 |  |  | $ | (27,722) |  |  | $ | 18,631 |
International | (3,328) |  |  | (2,932) |  |  | (6,280) |  |  | (6,021) |
Unallocated corporate expenses(1) | (4,259) |  |  | (5,090) |  |  | (2,106) |  |  | (9,613) |
(Loss) income from operations | $ | (37,207) |  |  | $ | 1,167 |  |  | $ | (36,108) |  |  | $ | 2,997 |
(1) Unallocated corporate expenses for the six months ended June 30, 2025 included a net legal settlement gain of $6.4 million. Details see NOTE 12 — CONTINGENCIES
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Supplemental information for significant segment expenses: | (in thousands)
Cost of sales: |  |  |  |  |  |  |
U.S. | $ | 72,546 |  |  | $ | 80,025 |  |  | $ | 154,492 |  |  | $ | 157,222 |
International | 8,477 |  |  | 7,091 |  |  | 15,979 |  |  | 14,589 |
Total cost of sales | $ | 81,023 |  |  | $ | 87,116 |  |  | $ | 170,471 |  |  | $ | 171,811 |
Freight-out expenses: |  |  |  |  |  |  |
U.S. | $ | 3,122 |  |  | $ | 2,042 |  |  | $ | 6,401 |  |  | $ | 5,355 |
International | 717 |  |  | 664 |  |  | 1,262 |  |  | 1,461 |
Total freight-out expenses | $ | 3,839 |  |  | $ | 2,706 |  |  | $ | 7,663 |  |  | $ | 6,816 |
Warehouse expenses: |  |  |  |  |  |  |
U.S. | $ | 10,448 |  |  | $ | 9,826 |  |  | $ | 21,960 |  |  | $ | 19,517 |
International | 3,027 |  |  | 2,520 |  |  | 5,761 |  |  | 4,900 |
Total warehouse expenses | $ | 13,475 |  |  | $ | 12,346 |  |  | $ | 27,721 |  |  | $ | 24,417 |
Selling, general and administrative expenses: |  |  |  |  |  |  |
U.S. | $ | 29,582 |  |  | $ | 29,421 |  |  | $ | 59,457 |  |  | $ | 60,258 |
International | 3,654 |  |  | 3,820 |  |  | 7,400 |  |  | 7,996 |
Unallocated corporate expenses(1) | 4,259 |  |  | 5,090 |  |  | 2,106 |  |  | 9,613 |
Total selling, general and administrative expenses | $ | 37,495 |  |  | $ | 38,331 |  |  | $ | 68,963 |  |  | $ | 77,867 |
Goodwill impairment: |  |  |  |  |  |  |
U.S. | $ | 33,237 |  |  | $ | — |  |  | $ | 33,237 |  |  | $ | — |
(1) Unallocated corporate expenses for the six months ended June 30, 2025 included a net legal settlement gain of $6.4 million. Details see NOTE 12 — CONTINGENCIES
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in thousands)
Depreciation and amortization: |  |  |  |  |  |  |
U.S. | $ | 5,103 |  |  | $ | 4,611 |  |  | $ | 10,482 |  |  | $ | 9,267 |
International | 334 |  |  | 283 |  |  | 653 |  |  | 566 |
Total depreciation and amortization | $ | 5,437 |  |  | $ | 4,894 |  |  | $ | 11,135 |  |  | $ | 9,833 |
Capital expenditures: |  |  |  |  |  |  |
U.S. | $ | 1,121 |  |  | $ | 422 |  |  | $ | 2,688 |  |  | $ | 938 |
International | 52 |  |  | 76 |  |  | 58 |  |  | 160 |
Total capital expenditures | $ | 1,173 |  |  | $ | 498 |  |  | $ | 2,746 |  |  | $ | 1,098 |
| June 30, 2025 |  | December 31, 2024
| (in thousands)
Assets |  |  |
U.S. | $ | 447,722 |  |  | $ | 542,420 |
International | 87,074 |  |  | 88,961 |
Unallocated corporate | 17,081 |  |  | 2,929 |
Total Assets | $ | 551,877 |  |  | $ | 634,310 |

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- Definition The entire disclosure for reporting segments including data and tables. 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