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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2022
Accounting Policies [Abstract] |
Net Revenue Disaggregated by Sales Channel and Geographic Region | Net Revenue by Category. The following table sets forth the Company’s net revenue disaggregated by sales channel and geographic region based on the billing addresses of its customers:
|  | Three Months Ended June 30, 2021 |
|  | (in thousands) |
|  | Direct |  |  | Wholesale/Other |  |  | Total |
North America |  | $ | 67,155 |  |  | $ | 108 |  |  | $ | 67,263 |
Other |  |  | 925 |  |  |  | — |  |  |  | 925 |
Total net revenue |  | $ | 68,080 |  |  | $ | 108 |  |  | $ | 68,188 |
|  | Three Months Ended June 30, 2022 |
|  | (in thousands) |
|  | Direct |  |  | Wholesale/Other |  |  | Total |
North America |  | $ | 56,947 |  |  | $ | 256 |  |  | $ | 57,203 |
Other |  |  | 1,065 |  |  |  | — |  |  |  | 1,065 |
Total net revenue |  | $ | 58,012 |  |  | $ | 256 |  |  | $ | 58,268 |
|  | Six Months Ended June 30, 2021 |
|  | (in thousands) |
|  | Direct |  |  | Wholesale/Other |  |  | Total |
North America |  | $ | 113,297 |  |  | $ | 2,092 |  |  | $ | 115,389 |
Other |  |  | 935 |  |  |  | — |  |  |  | 935 |
Total net revenue |  | $ | 114,232 |  |  | $ | 2,092 |  |  | $ | 116,324 |
|  | Six Months Ended June 30, 2022 |
|  | (in thousands) |
|  | Direct |  |  | Wholesale/Other |  |  | Total |
North America |  | $ | 95,580 |  |  | $ | 1,884 |  |  | $ | 97,464 |
Other |  |  | 2,477 |  |  |  | — |  |  |  | 2,477 |
Total net revenue |  | $ | 98,057 |  |  | $ | 1,884 |  |  | $ | 99,941 |
Net Revenue Disaggregated by Product Categories | Net Revenue by Product Categories. The following table sets forth the Company’s net revenue disaggregated by product categories:
|  | Three Months Ended June 30, |
|  | 2021 |  |  | 2022 |
|  | (in thousands) |
Heating, cooling and air quality |  | $ | 26,842 |  |  | $ | 23,729 |
Kitchen appliances |  |  | 8,974 |  |  |  | 8,484 |
Health and beauty |  |  | 1,821 |  |  |  | 3,901 |
Personal protective equipment |  |  | 505 |  |  |  | 10 |
Cookware, kitchen tools and gadgets |  |  | 5,548 |  |  |  | 4,245 |
Home office |  |  | 2,711 |  |  |  | 3,324 |
Housewares |  |  | 9,109 |  |  |  | 8,144 |
Essential oils and related accessories |  |  | 9,942 |  |  |  | 5,759 |
Other |  |  | 2,736 |  |  |  | 672 |
Total net revenue |  | $ | 68,188 |  |  | $ | 58,268 |
|  | Six Months Ended June 30, |
|  | 2021 |  |  | 2022 |
|  | (in thousands) |
Heating, cooling and air quality |  | $ | 32,980 |  |  | $ | 29,656 |
Kitchen appliances |  |  | 21,124 |  |  |  | 16,934 |
Health and beauty |  |  | 5,463 |  |  |  | 8,791 |
Personal protective equipment |  |  | 1,659 |  |  |  | 1,050 |
Cookware, kitchen tools and gadgets |  |  | 11,646 |  |  |  | 9,101 |
Home office |  |  | 3,520 |  |  |  | 7,032 |
Housewares |  |  | 16,291 |  |  |  | 14,690 |
Essential oils and related accessories |  |  | 17,295 |  |  |  | 10,841 |
Other |  |  | 6,346 |  |  |  | 1,846 |
Total net revenue |  | $ | 116,324 |  |  | $ | 99,941 |
Summary of Financial Assets Measured at Fair Value | The following table summarizes the fair value of the Company’s financial assets that are measured at fair value as of December 31, 2021 and June 30, 2022 (in thousands):
|  | December 31, 2021 |
|  | Fair Value Measurement Category |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 30,317 |  |  | $ | — |  |  | $ | — |
Restricted cash |  |  | 7,998 |  |  |  | — |  |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Fair value of contingent earn-out considerations |  |  | — |  |  |  | — |  |  |  | 9,223 |
|  | June 30, 2022 |
|  | Fair Value Measurement Category |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 34,781 |  |  | $ | — |  |  | $ | — |
Restricted cash |  |  | 2,274 |  |  |  | — |  |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Fair value of contingent earn-out considerations |  |  | — |  |  |  | — |  |  |  | 774 |
Fair value of warrant liability |  |  | — |  |  |  | — |  |  |  | 11,836 |
Summary of Activity of the Level 3 Liabilities Carried at Fair Value on a Recurring Basis | A summary of the activity of the Level 3 liabilities carried at fair value on a recurring basis for the six months ended June 30, 2022 is as follows (in thousands):
Balance at December 31, 2021 - Fair value of contingent earn-out considerations |  | $ | 9,223 |
Change in fair value of contingent earn-out liability |  |  | (4,466 | )
Payment of contingent earn-out liability |  |  | (3,983 | )
Balance at June 30, 2022 - Fair value of contingent earn-out considerations |  | $ | 774 |
Balance at December 31, 2021 - Fair value of warrant liability |  | $ | — |
Issuance of warrants in connection with offering |  |  | 18,982 |
Change in fair value of warrant liability |  |  | 7,893 |
Exercise of prefunded warrants |  |  | (15,039 | )
Balance at June 30, 2022 - Fair value of warrant liability |  | $ | 11,836 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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