0001628280-26-031249 | 10-Q | XBRL Viewer

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Net Income (Loss) per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net (loss) income	$ (42)	$ 3,254
Net (loss) income attributable to common stockholders — basic	(42)	3,254
Net (loss) income attributable to common stockholders - diluted	$ (42)	$ 3,254
Denominator:
Weighted average shares of common stock outstanding — basic (in shares)	112,819,781	109,552,550
Weighted average shares of common stock outstanding — diluted (in shares)	112,819,781	114,571,119
Net (loss) income per share, attributable to common shareholders:
Basic (in dollars per share)	$ 0.00	$ 0.03
Diluted (in dollars per share)	$ 0.00	$ 0.03
Restricted Stock Units
Denominator:
Add: effect of dilutive RSUs and stock options (in shares)	0	4,727,055
Stock Options
Denominator:
Add: effect of dilutive RSUs and stock options (in shares)	0	291,514

Accrued Expenses

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following:


	March 31, 2026		December 31, 2025
(In thousands)
Payroll and payroll related expenses(1)	$	2,954	$	4,390
Accrued inventory purchases	2,555		8,387

Accrued marketing	3,450		1,181
Accrued rent(2)	8,689		9,042
Accrued restructuring(3)	4,552		4,534
Other accrued expenses	5,467		8,151
Total accrued expenses	$	27,667	$	35,685

____________________

(1) Includes $0.1 million and $0.2 million of executive transition related expenses as of March 31, 2026 and December 31, 2025, respectively.

(2) Represents short-term operating lease liabilities. Refer to Note 11, "Leases" included in these condensed consolidated financial statements for more information on leases.

(3) Refer to Note 12, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring.

Stockholders' Equity - Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Number of Options
Outstanding, beginning balance (in shares) \| shares	4,252,490
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	0
Forfeited/Cancelled (in shares) \| shares	(6,000)
Outstanding, ending balance (in shares) \| shares	4,246,490
Weighted Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 5.45
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited/Cancelled (in dollars per share) \| $ / shares	5.23
Ending balance (in dollars per share) \| $ / shares	$ 5.45

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Uncertain tax positions	$ 0	$ 0
Interest and penalties expense	$ 0	$ 0

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Total revenue	$ 78,099	$ 97,250
Wipes
Disaggregation of Revenue [Line Items]
Total revenue	31,350	27,686
Personal Care and Other
Disaggregation of Revenue [Line Items]
Total revenue	25,921	21,737
Diapers
Disaggregation of Revenue [Line Items]
Total revenue	20,828	25,732
Honest.com, Apparel and Canada
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 22,095

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 90,367	$ 89,581
Accounts receivable, net	34,035	33,761
Inventories	61,178	72,501
Prepaid expenses and other current assets	7,229	6,590
Total current assets	192,809	202,433
Operating lease right-of-use asset	9,677	11,351
Property and equipment, net	8,544	7,477
Goodwill	2,269	2,269
Intangible assets, net	145	162
Other assets	1,477	1,715
Total assets	214,921	225,407
Current liabilities
Accounts payable	15,087	15,134
Accrued expenses	27,667	35,685
Total current liabilities	42,754	50,819
Long term liabilities
Operating lease liabilities, net of current portion	3,075	4,919
Total liabilities	45,829	55,738
Commitments and contingencies (Note 7)
Stockholders’ equity
Preferred stock, $0.0001 par value, 20,000,000 shares authorized at March 31, 2026 and December 31, 2025, none issued or outstanding as of March 31, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value, 1,000,000,000 shares authorized at March 31, 2026 and December 31, 2025; 113,727,283 and 112,809,637 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	11	11
Treasury stock, at cost, 1,052,672 and 0 shares as of March 31, 2026 and December 31, 2025, respectively	(3,000)	0
Additional paid-in capital	673,001	670,536
Accumulated deficit	(500,920)	(500,878)
Total stockholders’ equity	169,092	169,669
Total liabilities and stockholders’ equity	$ 214,921	$ 225,407

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue	$ 78,099	$ 97,250
Cost of revenue	44,828	59,580
Gross profit	33,271	37,670
Operating expenses
Selling, general and administrative	17,469	21,041
Marketing	13,993	12,270
Restructuring	606	0
Research and development	1,862	1,852
Total operating expenses	33,930	35,163
Operating (loss) income	(659)	2,507
Interest and other income (expense), net	663	787
Income before provision for income taxes	4	3,294
Income tax provision	46	40
Net (loss) income	$ (42)	$ 3,254
Net (loss) income per share attributable to common stockholders:
Basic (in dollars per share)	$ 0.00	$ 0.03
Diluted (in dollars per share)	$ 0.00	$ 0.03
Weighted-average shares used in computing net (loss) income per share attributable to common stockholders:
Basic (in shares)	112,819,781	109,552,550
Diluted (in shares)	112,819,781	114,571,119
Comprehensive (loss) income	$ (42)	$ 3,254

Credit Facilities	3 Months Ended
Credit Facilities	Mar. 31, 2026
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities In March 2026, the Company entered into a First Amendment to Credit Agreement and First Amendment to Pledge and Security Agreement (the “Amendment”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent and lender, and the other lenders party thereto (together with JPMorgan, the “Lenders”), which amended the terms of the then existing first lien credit agreement (the “2023 Credit Facility”), extended the maturity date of the senior secured revolving credit facility (the “2026 Credit Facility”) and modified the borrowing formula and modified the interest rate. The 2026 Credit Facility provides a revolving credit facility in an aggregate principal amount of up to $35.0 million (the “Commitment Amount”) and includes a sub-facility that provides for the issuance of letters of credit in an amount of up to $15.0 million at any time outstanding. If more than 50% of the Commitment Amount is outstanding, availability of the 2026 Credit Facility will be based upon a borrowing base formula and periodic borrowing base certifications valuing certain of the Company’s accounts receivable and inventory as reduced by certain reserves, if any. The 2026 Credit Facility includes an uncommitted accordion feature that allows for increases in the Commitment Amount to as much as an additional $35.0 million, for up to $70.0 million in potential revolving commitments. The 2026 Credit Facility is subject to customary fees for loan facilities of this type, including a commitment fee based on the average daily undrawn portion of the 2026 Credit Facility. The Company recognizes the commitment fee as incurred in interest and other income (expense), net in the condensed consolidated statements of comprehensive income (loss). For the three months ended March 31, 2026, the commitment fee incurred was immaterial. As of March 31, 2026, there was $1.5 million of outstanding letters of credit. As of March 31, 2026, there was no outstanding borrowing under the 2026 Credit Facility, but the letters of credit reduce the amount available under the 2026 Credit Facility on a dollar-for-dollar basis. The interest rate applicable to the 2026 Credit Facility will be, at the Company’s option, either (a) the Adjusted Term SOFR Rate (subject to a 0.00% floor), plus a margin ranging from 1.75% to 2.25% or (b) the CB floating rate, (i) plus a margin of 0.00% or 0.25% or (ii) minus a margin of 0.25%. The margin will be based upon the Company’s leverage ratio. The CB floating rate is the higher of (a) the Wall Street Journal prime rate and (b) 2.50%. The 2026 Credit Facility will terminate and borrowings thereunder, if any, will be due in full on March 31, 2029. Debt under the 2026 Credit Facility will be guaranteed by substantially all of the Company’s material domestic subsidiaries and will be secured by substantially all of the Company’s and such subsidiaries’ assets. The Company is subject to certain affirmative and negative covenants including financial covenants related to a minimum total fixed charge coverage ratio and a maximum total leverage ratio, each calculated on a trailing four fiscal quarter basis at the end of each fiscal quarter. The 2026 Credit Facility also includes customary events of default. The 2026 Credit Facility contains covenants that restrict, among other things, the Company’s ability to sell assets, make investments and acquisitions, incur indebtedness, grant liens, change the Company’s lines of business, pay dividends and make certain other restricted payments, each subject to customary exceptions. Failure to do so, unless waived by the Lenders under the 2026 Credit Facility pursuant to its terms would result in an event of default under the 2026 Credit Facility. As of March 31, 2026, the Company is in compliance with all covenants under the 2026 Credit Facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Leases (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense were as follows (in thousands):


	For the three months ended March 31,
	2026		2025



Operating lease expense:
Operating lease expense(1)	$	1,785	$	1,792
Sublease income	(501)		(501)
Total lease expense, net	$	1,284	$	1,291

______________________

(1) Represents the straight-line lease expense of operating leases, inclusive of amortization of ROU assets and the interest component of operating lease liabilities.

Schedule of Assets and Liabilities, Lessee

The following tables set forth the amount of lease assets and lease liabilities included in the Company’s condensed consolidated balance sheets (in thousands):

Assets

Financial Statement Line Item

March 31, 2026

Operating lease assets

Operating lease right-of-use asset

9,677

Total lease assets

9,677

Liabilities

Current

Operating lease liabilities

Accrued expenses

8,689

Non-current

Operating lease liabilities

Operating lease liabilities, net of current portion

3,075

Total lease liabilities

11,764

Supplemental information related to the Company’s leases for the three months ended March 31, 2026 was as follows:


Weighted-average remaining lease term (in years)

Operating leases	1.7
Weighted-average discount rate

Operating leases	2.49		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)

Operating cash flows used in operating leases	$	2,278

Leases - Narrative (Details)	3 Months Ended
Leases - Narrative (Details)	Mar. 31, 2026 USD ($)
Lessee, Lease, Description [Line Items]
Non-cash ROU assets obtained in exchange for finance lease liabilities	$ 0
Non-cash ROU assets obtained in exchange for operating lease liabilities	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	1 year
Lessee, finance lease, remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	6 years
Lessee, finance lease, remaining lease term	6 years

Stockholders' Equity

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

Stock Options

The following table summarizes the stock option activity:


	Number of Options	Weighted Average Exercise Price



















Outstanding at December 31, 2025	4,252,490	$	5.45
Granted	—	$	—
Exercised	—	$	—
Forfeited/Cancelled	(6,000)	$	5.23
Outstanding at March 31, 2026	4,246,490	$	5.45

2021 Equity Incentive Plan

In April 2021, the Company’s board of directors adopted the Company’s 2021 Equity Incentive Plan (the “2021 Plan”), which became effective in connection with the IPO. All equity-based awards granted on or after the effectiveness of the 2021 Plan are granted under the 2021 Plan. The 2021 Plan provides for grants of incentive stock options (“ISOs”) within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), to the Company’s employees and its subsidiary corporations’ employees, and for the grant of nonstatutory stock options (“NSOs”), stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”) awards, performance awards and other forms of awards to the Company’s employees, directors and consultants and any of its affiliates’ employees and consultants. Initially, the maximum number of shares of the Company’s common stock that may be issued under its 2021 Plan will not exceed 25,025,580 shares of the Company’s common stock. In addition, the number of shares of the Company’s common stock reserved for issuance under its 2021 Plan will automatically increase on January 1 of each year for a period of ten years, beginning on January 1, 2022 and continuing through January 1, 2031, in an amount equal to (1) 4% of the total number of shares of the Company’s common stock outstanding on December 31 of the immediately preceding year, or (2) a lesser number of shares determined by the Company’s board of directors prior to the date of the increase. On January 1, 2026, 4,498,671 additional shares were reserved for issuance pursuant to this provision. The maximum number of shares of the Company’s common stock that may be issued on the exercise of ISOs under its 2021 Plan is 75,100,000 shares.

2023 Inducement Plan

In March 2023, the Company's Compensation Committee adopted the 2023 Inducement Plan (the “2023 Inducement Plan”). The 2023 Inducement Plan reserved 4,000,000 shares of the Company’s common stock for issuance under the 2023 Inducement Plan to individuals who satisfy the standards for inducement grants under the relevant Nasdaq Stock Market rules. As of March 31, 2026, there were 738,806 shares available for future grant under the 2023 Inducement Plan.

The following table summarizes the RSU activity under the 2021 Equity Incentive Plan and the 2023 Inducement Plan:


	Number of Shares		Weighted Average Grant Date Fair Value Per Share
	Non-Employee Directors	Directors, Officers and Employees	Non-Employee Directors		Directors, Officers and Employees
Unvested RSUs at December 31, 2025	418,924	5,266,468	$	4.28	$	3.92

Granted	112,157	4,892,417	$	2.58	$	2.45
Vested	(28,038)	(889,608)	$	2.58	$	4.09
Forfeited	—	(289,002)	$	—	$	4.35
Unvested RSUs at March 31, 2026	503,043	8,980,275	$	4.00	$	3.09

As of March 31, 2026, there was $27.3 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of 3.0 years.

2021 Employee Stock Purchase Plan

In April 2021, the Company’s board of directors adopted the Company’s 2021 Employee Stock Purchase Plan (the “2021 ESPP”). The Company initially authorized the issuance of 1,175,000 shares of common stock under the 2021 ESPP. In addition, the number of shares available for issuance under the 2021 ESPP will be annually increased on January 1 of each year for a period of ten years, beginning on January 1, 2022 and continuing through January 1, 2031 by the lesser of (i) 1% of the total number of shares of common stock outstanding on December 31 of the immediately preceding year; and (ii) 3,525,000 shares, except before the date of any such increase, the Company’s board of directors may determine that such increase will be less than the amount set forth in clauses (i) and (ii). On January 1, 2026, 1,124,667 additional shares were reserved for issuance pursuant to this provision. Subject to any limitations contained therein, the 2021 ESPP allows eligible employees to contribute (in the form of payroll deductions or otherwise to the extent permitted by the administrator) an amount established by the administrator from time to time in its discretion to purchase common stock at a discounted price per share.

Under the 2021 ESPP, eligible employees are granted the right to purchase shares of common stock at the lower of 85% of the fair value at the time of grant or 85% of the fair value at the time of exercise. The right to purchase shares of common stock is granted in May and November of each year for an offering period of approximately six months. For the three months ended March 31, 2026, no shares were purchased under the 2021 ESPP. As of March 31, 2026, the Company had 5,783,016 remaining authorized shares available for purchase.

The following table summarizes the key input assumptions used in the Black-Scholes option-pricing model to estimate the grant-date fair value of the 2021 ESPP:


			March 31, 2026
Expected life of options (in years)			0.50
Expected stock price volatility			75.59%
Risk free interest rate			3.80%
Expected dividend yield			—%
Grant-date fair value per share			$0.95

Share Repurchase Program

On February 20, 2026, the Company’s Board of Directors approved the Company’s first share repurchase program for up to $25 million of its outstanding common stock. Under the program, share repurchases may be made at the Company’s discretion from time to time in open market transactions or privately negotiated transactions, or by other means, including through Rule 10b5-1 trading plans. The timing and number of shares repurchased under the new program will depend on a variety of factors, including, without limitation, stock price, trading volume, and general business and market conditions. The repurchase program does not obligate the Company to purchase any shares, has no expiration date and may be modified, suspended or terminated at any time. The Company expects to fund repurchases with a combination of existing cash and cash equivalents and cash flows from operations. The Company repurchased 1,052,672 shares of common stock at an average share price of $2.85 per share, for an aggregate amount of approximately $3.0 million, during the three months ended March 31, 2026. As of March 31, 2026, approximately $22 million remained available under the share repurchase program. Between April 1, 2026 and May 1, 2026, the Company repurchased 3,471,969 shares of common stock at an average share price of $3.26 per share, for an aggregate amount of approximately $11.3 million. Accordingly, as of May 1, 2026, approximately $10.7 million remained available under the share repurchase program.

Stock-Based Compensation Expense

Stock-based compensation expense related to RSU awards under the 2021 Equity Incentive Plan and the 2023 Inducement Plan, 2021 ESPP purchases and stock options, as applicable, are as follows:


	For the three months ended March 31,
	2026		2025
(In thousands)
Selling, general and administrative	$	2,251	$	2,241
Research and development	214		171
Total stock-based compensation expense	$	2,465	$	2,412

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities
Net (loss) income	$ (42)	$ 3,254
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	646	717
Stock-based compensation	2,465	2,412
Amortization of operating ROU assets	1,674	1,640
Other	212	1,122
Changes in assets and liabilities:
Accounts receivable, net	(342)	738
Inventories	11,423	(5,768)
Prepaid expenses and other assets	(536)	902
Accounts payable, accrued expenses and other long-term liabilities	(7,700)	(5,757)
Deferred revenue	0	(103)
Operating lease liabilities	(2,278)	(2,095)
Net cash provided by (used in) operating activities	5,522	(2,938)
Cash flows from investing activities
Purchases of property and equipment	(1,736)	(62)
Net cash used in investing activities	(1,736)	(62)
Cash flows from financing activities
Repurchase of common stock	(3,000)	0
Proceeds from exercise of stock options	0	384
Payments on finance lease liabilities	0	(1)
Net cash (used in) provided by financing activities	(3,000)	383
Net increase (decrease) in cash and cash equivalents	786	(2,617)
Cash and cash equivalents
Beginning of the period	89,581	75,435
End of the period	90,367	72,818
Supplemental disclosures of noncash activities
Capital expenditures included in accounts payable and accrued expenses	$ 456	$ 0

Summary of Significant Accounting Policies (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) segment	Dec. 31, 2025 USD ($)
Accounting Policies [Abstract]
Number of operating segments	1
Number of reportable segments	1
Allowance for credit loss \| $	$ 0.2	$ 0.2

Credit Facilities (Details) - Credit Facility, 2026	1 Months Ended
Credit Facilities (Details) - Credit Facility, 2026	Mar. 31, 2026 USD ($)
Revolving Credit Facility \| CB Floating Rate
Line of Credit Facility [Line Items]
Interest rate base (as a percent)	2.50%
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum issuance of letters of credit	$ 35,000,000.0
Debt instrument threshold (as a percent)	50.00%
Line of credit facility, accordion feature, increase limit	$ 35,000,000.0
Line of credit facility, accordion feature, higher borrowing capacity	70,000,000.0
Letters of credit outstanding	$ 1,500,000
Secured overnight financing rate floor (as a percent)	0.00%
Revolving Credit Facility \| Line of Credit \| Prime Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus) (as a percent)	(0.25%)
Revolving Credit Facility \| Line of Credit \| Minimum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus) (as a percent)	1.75%
Revolving Credit Facility \| Line of Credit \| Minimum \| Prime Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus) (as a percent)	0.00%
Revolving Credit Facility \| Line of Credit \| Maximum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus) (as a percent)	2.25%
Revolving Credit Facility \| Line of Credit \| Maximum \| Prime Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus) (as a percent)	0.25%
Letter of Credit \| Line of Credit
Line of Credit Facility [Line Items]
Maximum issuance of letters of credit	$ 15,000,000.0
Outstanding borrowings	$ 0

Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following:


	March 31, 2026		December 31, 2025
(In thousands)
Payroll and payroll related expenses(1)	$	2,954	$	4,390
Accrued inventory purchases	2,555		8,387

Accrued marketing	3,450		1,181
Accrued rent(2)	8,689		9,042
Accrued restructuring(3)	4,552		4,534
Other accrued expenses	5,467		8,151
Total accrued expenses	$	27,667	$	35,685

____________________

(1) Includes $0.1 million and $0.2 million of executive transition related expenses as of March 31, 2026 and December 31, 2025, respectively.

(2) Represents short-term operating lease liabilities. Refer to Note 11, "Leases" included in these condensed consolidated financial statements for more information on leases.

(3) Refer to Note 12, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring.

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024		109,159,697
Beginning balance at Dec. 31, 2024	$ 174,307	$ 11	$ 0	$ 659,488	$ (485,192)
Beginning balance (in shares) at Dec. 31, 2024			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	3,254				3,254
Stock options exercised (in shares)		75,000
Stock options exercised	384			384
Stock-based compensation	2,412			2,412
Vested restricted stock units (in shares)		1,253,999
Ending balance (in shares) at Mar. 31, 2025		110,488,696
Ending balance at Mar. 31, 2025	$ 180,357	$ 11	$ 0	662,284	(481,938)
Ending balance (in shares) at Mar. 31, 2025			0
Beginning balance (in shares) at Dec. 31, 2025	112,809,637	112,809,637
Beginning balance at Dec. 31, 2025	$ 169,669	$ 11	$ 0	670,536	(500,878)
Beginning balance (in shares) at Dec. 31, 2025	0		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ (42)				(42)
Repurchase of common stock (in shares)	1,052,672		1,052,672
Repurchase of common stock	$ (3,000)		$ (3,000)
Stock options exercised (in shares)	0
Stock-based compensation	$ 2,465			2,465
Vested restricted stock units (in shares)		917,646
Ending balance (in shares) at Mar. 31, 2026	113,727,283	113,727,283
Ending balance at Mar. 31, 2026	$ 169,092	$ 11	$ (3,000)	$ 673,001	$ (500,920)
Ending balance (in shares) at Mar. 31, 2026	1,052,672		1,052,672

Stockholders' Equity - Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	May 01, 2026	Mar. 31, 2026	Feb. 20, 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized amount			$ 25,000
Repurchase of common stock (in shares)		1,052,672
Average cost per share (in dollars per share)		$ 2.85
Shares repurchased		$ 3,000
Remaining authorized amount		$ 22,000
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock (in shares)	3,471,969
Average cost per share (in dollars per share)	$ 3.26
Shares repurchased	$ 11,300
Remaining authorized amount	$ 10,700

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Topic 718
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-Paragraph 2
-Subparagraph (f)(2)(i)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)(2)(iii)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)(2)
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Restructuring (Tables)

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Schedule of Costs Associated with the Transformation Initiative

Costs associated with Powering Honest Growth for the three months ended March 31, 2026 were as follows (in thousands):


Cost of Revenue(1)	$	686
Restructuring Costs(2)	606
Total	$	1,292

______________

(1) The Company incurred costs in connection with a warehouse closure which is included in cost of revenue on the consolidated statements of comprehensive loss.

(2) Refer to the restructuring table below for additional details of the costs included in restructuring costs.

Charges incurred to restructuring costs for the three months ended March 31, 2026 were:


	Restructuring Costs
	Employee and Personnel-Related Costs		Asset and Other Restructuring-Related Costs		Contract and External Obligation Costs		Total

Charges for the three months ended March 31, 2026	$	304	$	302	$	—	$	606

Schedule of Changes in Accrued Expenses Relating to Transformation Initiative

Changes in accrued expenses as of March 31, 2026 were:


	Accrued Restructuring-Related Costs(1)
	Asset and Other Restructuring-Related Costs		Contract and External Obligation Costs		Employee and Personnel-Related Costs		Total
Balance at December 31, 2025	$	1,147	$	2,535	$	852	$	4,534
Charges	577		—		386		963
Cash payments	(259)		(13)		(673)		(945)
Other adjustments	—		—		—		—
Balance at March 31, 2026	$	1,465	$	2,522	$	565	$	4,552

___________

(1) Included in accrued expenses as of March 31, 2026. Refer to Note 6, "Accrued Expenses" included elsewhere in these consolidated financial statements.

Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregated Revenue


	For the three months ended March 31,
(In thousands)	2026		2025
Wipes	$	31,350	$	27,686
Personal Care and Other	25,921		21,737
Diapers	20,828		25,732
Honest.com, Apparel and Canada	—		22,095
Total revenue	$	78,099	$	97,250

Retail and Third-Party Ecommerce

For retail and third-party ecommerce sales, the Company’s performance obligation consists of the sale of finished goods to retailers and third-party ecommerce customers. Revenue is recognized when control of the promised goods is transferred to those customers at time of shipment or delivery, depending on the contract terms. After the completion of the performance obligation, the Company has the right to consideration as outlined in the contract. Payment terms vary among the retail and third-party ecommerce customers although terms generally include a requirement of payment within 30 to 45 days of product shipment.

Direct-to-Consumer

Effective December 31, 2025, the Company no longer sells direct-to-consumer through the Company’s website as part of Powering Honest Growth. For direct sales to the consumer through the Company's website, Honest.com, the Company's performance obligation consisted of the sale of finished goods to the consumer. Consumers may have purchased products at any

time or entered into subscription arrangements. Consumers placed orders online in accordance with the Company's standard terms and conditions and authorized payment when the order was placed. Credit cards were charged at the time of shipment and payments were typically processed within two to three business days. For subscription arrangements, consumers signed up to receive products on a periodic basis. Subscriptions were cancellable at any time without penalty, and no amounts were collected from the consumer until products were shipped. Revenue was recognized when transfer of control to the consumer took place, which is when the product was delivered to the carrier. Sales taxes collected from consumers were accounted for on a net basis and were excluded from revenue. The Company did not generate any revenue from Honest.com for three months ended March 31, 2026. Revenue generated from Honest.com was 11% of the Company's total revenue during the three months ended March 31, 2025.

Non-Monetary Transactions

The Company has in the past and may in the future enter into trade agreements with a vendor to exchange excess inventory for future marketing and transportation credits. The Company recognizes revenue reflecting the fair value of the marketing and transportation credits upon delivery of goods, with the corresponding short and long-term asset included in prepaid expenses and other current assets, and other assets in the accompanying condensed consolidated balance sheets. The Company may use the marketing and transportation credits over four years from the date of the respective agreement, with an option to extend for another two years if agreed upon by both parties. For the three months ended March 31, 2026 and 2025, the Company did not enter into any new trade agreements.

For the three months ended March 31, 2026 and 2025, the Company did not recognize any revenue or associated cost of revenue related to these marketing and transportation credits. The Company assesses the recoverability of the marketing and transportation credits periodically. Factors considered in evaluating the recoverability include management’s history of credit usage and future plans with respect to advertising, freight and other services for which these credits can be used. Any impairment losses are charged to marketing expense in the condensed consolidated statements of comprehensive income (loss) as they become determinable. For the three months ended March 31, 2026 and 2025, the Company recorded no impairment losses related to these credits and used an aggregate of $0.2 million and $0.4 million of credits, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 9
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Subparagraph (b)(2)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Restructuring - Schedule of Costs Associated With Powering Honest Growth (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	$ 1,292
Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	686
Restructuring Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	$ 606

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


	For the three months ended March 31,
(In thousands)	2026		2025
Wipes	$	31,350	$	27,686
Personal Care and Other	25,921		21,737
Diapers	20,828		25,732
Honest.com, Apparel and Canada	—		22,095
Total revenue	$	78,099	$	97,250

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Non-Employee Directors
Number of Shares
Unvested RSUs, beginning balance (in shares) \| shares	418,924
Granted (in shares) \| shares	112,157
Vested (in shares) \| shares	(28,038)
Forfeited (in shares) \| shares	0
Unvested RSUs, ending balance (in shares) \| shares	503,043
Weighted Average Grant Date Fair Value Per Share
Unvested RSUs, beginning balance (in dollars per share) \| $ / shares	$ 4.28
Granted (in dollars per share) \| $ / shares	2.58
Vested (in dollars per share) \| $ / shares	2.58
Forfeited (in dollars per share) \| $ / shares	0
Unvested RSUs, ending balance (in dollars per share) \| $ / shares	$ 4.00
Directors, Officers and Employees
Number of Shares
Unvested RSUs, beginning balance (in shares) \| shares	5,266,468
Granted (in shares) \| shares	4,892,417
Vested (in shares) \| shares	(889,608)
Forfeited (in shares) \| shares	(289,002)
Unvested RSUs, ending balance (in shares) \| shares	8,980,275
Weighted Average Grant Date Fair Value Per Share
Unvested RSUs, beginning balance (in dollars per share) \| $ / shares	$ 3.92
Granted (in dollars per share) \| $ / shares	2.45
Vested (in dollars per share) \| $ / shares	4.09
Forfeited (in dollars per share) \| $ / shares	4.35
Unvested RSUs, ending balance (in dollars per share) \| $ / shares	$ 3.09

Leases - Schedule of Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Assets
Operating lease assets	$ 9,677	$ 11,351
Total lease assets	9,677
Current
Operating lease liabilities	8,689	9,042
Non-current
Operating lease liabilities, net of current portion	3,075	$ 4,919
Total lease liabilities	$ 11,764
Weighted-average remaining lease term (in years)
Operating leases	1 year 8 months 12 days
Weighted-average discount rate
Operating leases	2.49%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows used in operating leases	$ 2,278

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2025. The condensed consolidated financial statements are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal recurring items, necessary for the fair statement of the condensed consolidated financial statements. The consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. The condensed consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries after elimination of intercompany transactions and balances. Restructuring As further described in Note 12, "Restructuring," during 2025, the Company commenced a restructuring plan, Transformation 2.0: Powering Honest Growth ("Powering Honest Growth"). Powering Honest Growth is aimed at driving growth, improving simplicity, focus and profitability, which includes exiting certain lower margin, non-strategic categories and channels, including Honest.com fulfillment and the apparel category as a seller of merchandise, retail and online stores in Canada, as well as optimizing the Company's cost structure by rightsizing selling, general and administrative expenses and implementing supply chain efficiencies. Such restructuring costs include employee termination benefits (one-time arrangements), termination of contractual obligations, non-cash asset charges, primarily including technology taken out of service, and other direct incremental costs. The Company recorded employee termination liabilities once the Company committed to a plan and communicated such terminations to employees. Other costs associated with a restructuring initiative, such as consulting and professional fees, product or geographical exit costs, are recognized in the period in which the liability is incurred. Accrued restructuring costs as of March 31, 2026 and December 31, 2025 are recorded within Accrued Expenses in the condensed consolidated balance sheets. Refer to Note 12, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring initiatives. Segment Reporting and Geographic Information The Company’s principal business primarily focuses on creating cleanly-formulated and sustainably-designed products. The Company’s Chief Executive Officer (“CEO”), as the chief operating decision maker (“CODM”), organizes the Company, manages resource allocations, and measures performance on the basis of one operating segment. The Company evaluates performance based on consolidated net income (loss) to monitor budget versus actual results and period-over-period comparisons. The CODM additionally considers forecasted information on a quarterly basis for net income (loss) when making decisions regarding capital and personnel needs. The CODM reviews information at the consolidated entity level, and does not distinguish the principal business, or group the operations, by geographic locations or industry types for purposes of measuring performance or allocating resources. While the Company creates products that are sold across retail channels and, prior to December 31, 2025, direct-to-consumer (“DTC”), all products are managed as one brand of products under one operating and reportable segment. Furthermore, the Company notes that monitoring financial results as one reportable segment helps the CODM manage expenses on a consolidated basis, consistent with the Company’s operations. The Company does not regularly provide the CODM with more detailed segment expense information beyond what is included in the condensed consolidated statements of comprehensive income (loss). The significant expense categories which are used to manage operations are those reflected in the Company's condensed consolidated statements of comprehensive income (loss). Refer to the condensed consolidated statements of comprehensive income (loss) included in the consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for more information. All of the Company’s long-lived assets are located in the United States and substantially all of the Company’s revenue is from customers located in the United States. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. The Company’s estimates, which are subject to varying degrees of judgment, include the valuation of inventories, sales returns and allowances, allowances for credit losses, valuation of short-term investments, capitalized software, useful lives associated with long-lived assets, goodwill impairment, incremental borrowing rates associated with leases, valuation allowances with respect to deferred tax assets, accruals and contingencies, recoverability of non-cash marketing credits, and the valuation and assumptions underlying stock-based compensation. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. The Company assessed certain accounting matters and estimates that generally require consideration of forecasted information in context with the information reasonably available to the Company as of March 31, 2026 and through the date these condensed consolidated financial statements were issued. Management is not aware of any specific event or circumstance that would require an update to estimates or judgments or a revision to the carrying value of assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in the Company’s consolidated financial statements in future periods. Cash and Cash Equivalents Cash equivalents consist of short-term, highly liquid investments with stated maturities of three months or less from the date of purchase. Cash equivalents comprise amounts invested in money market funds. Accounts Receivable Accounts receivable are presented as net of allowance for credit losses. The Company does not accrue interest on its trade receivables. The Company evaluates accounts receivable estimated to be uncollectible by considering the lifetime expected credit losses of the Company's accounts receivable at time of inception, and records an allowance for credit losses, as necessary, with the balance of the Company's accounts receivable presented at the amortized cost. The Company considers factors in its allowance for credit losses such as historical analysis, credit quality of customers, the age of the accounts receivable balances and macroeconomic conditions that may have an impact on the Company's customers' ability to pay. As discussed further below, the Company elected the practical expedient to assume that current conditions as of the balance sheet date will not change for the remaining life of the accounts receivable. The allowance for credit losses was $0.2 million as of March 31, 2026 and December 31, 2025. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the following hierarchy in measuring the fair value of the Company’s assets and liabilities, focusing on the most observable inputs when available: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than Level 1 quoted prices, such as quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active for identical or similar assets and liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Valuations are based on inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Fair value is based on quoted market prices, if available. If listed prices or quotes are not available, fair value is based on internally developed models that primarily use market-based or independently sourced market parameters as inputs. Cash equivalents, consisting primarily of money market funds, represent highly liquid investments with maturities of three months or less at purchase. Market prices, which are Level 1 in the fair value hierarchy, are used to determine the fair value of the money market funds. Investments in debt securities are measured using broker provided indicative prices developed using observable market data, which are considered Level 2 in the fair value hierarchy. Certain assets, including long-lived assets, goodwill and intangible assets are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review. The fair value of such assets is measured using Level 3 inputs in the fair value hierarchy. Recent Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies. Recently Issued Accounting Pronouncements - Adopted In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update creates a practical expedient for estimating expected credit losses on current accounts receivable and current contract assets arising from transactions under ASC 606 by assuming that current conditions at the balance sheet date will remain unchanged over the life of the asset. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2025, and interim periods within those annual reporting periods. The adoption of ASU No. 2025-05 did not have a material impact on the Company's consolidated financial statements or related disclosures. Recently Issued Accounting Pronouncements - Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This update is to improve the disclosures of components of certain income statement expense items. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact that ASU No. 2024-03 will have on its consolidated financial statements or related disclosures. In September 2025, the FASB issued ASU No. 2025-06, Intangibles - Goodwill and Other Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update is to modernize the accounting for software costs that are accounted for under Subtopic 350-40, Intangibles-Goodwill and Other-Internal-Use Software. The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The adoption of ASU No. 2025-06 is not expected to have a material impact on the Company's consolidated financial statements or related disclosures.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date income or loss, adjusted for discrete items arising in that quarter. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate of 21% primarily as a result of a valuation allowance against net deferred tax assets, stock-based compensation, state taxes, nondeductible executive compensation and other permanent differences. The Company has evaluated the available positive and negative evidence supporting the realization of its gross deferred tax assets, including cumulative losses, and the amount and timing of future taxable income, and has determined it is more likely than not that the assets will not be realized. Accordingly, the Company has recorded a full valuation allowance against the U.S. federal and state deferred tax assets as of each balance sheet date presented. However, given the Company's recent profitability, the Company believes that there is a reasonable possibility that, in the near term, sufficient positive evidence may become available that supports the release of a portion of the Company's valuation allowance, which would result in the recognition of certain U.S. deferred tax assets and a decrease to income tax expense for the period in which the release is recorded. The exact timing and amount of the valuation allowance release if any would be subject to change based on the level of profitability that the Company can achieve. During the three months ended March 31, 2026 and 2025, the Company has not recorded any uncertain tax positions and has not recognized interest or penalties in the condensed consolidated statements of comprehensive income (loss).

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue - Narrative (Details)	3 Months Ended
Revenue - Narrative (Details)	Mar. 31, 2026 USD ($) agreement	Mar. 31, 2025 USD ($) agreement
Disaggregation of Revenue [Line Items]
Number of new trade agreements \| agreement	0	0
Revenue	$ 78,099,000	$ 97,250,000
Cost of revenue	$ 44,828,000	$ 59,580,000
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk \| Sales Channel, Directly to Consumer
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)		11.00%
Retail \| Minimum
Disaggregation of Revenue [Line Items]
Revenue recognition, payment term	30 days
Retail \| Maximum
Disaggregation of Revenue [Line Items]
Revenue recognition, payment term	45 days
Trade Agreements
Disaggregation of Revenue [Line Items]
Marketing credits, usage period (in years)	4 years
Marketing credits, option to extend (in years)	2 years
Revenue	$ 0	$ 0
Cost of revenue	0	0
Impairment	0	0
Transportation credit used	$ 200,000	$ 400,000

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company is subject to various claims and contingencies which are in the scope of ordinary and routine litigation incidental to its business, including those related to regulation, business transactions, employee-related matters and taxes, among others. When the Company becomes aware of a claim or potential claim, the likelihood of any loss or exposure is assessed. If it is probable that a loss will result and the amount or range of the loss can be reasonably estimated, the Company records a liability for the loss and discloses the possible loss in the consolidated financial statements. A complaint was filed by Hayato Ono derivatively on behalf of the Company on November 29, 2021, in the U.S. District Court for the Central District of California (“Central District of California”), alleging breach of fiduciary duties, unjust enrichment, waste, gross mismanagement, and federal securities law violations by the Company’s directors and certain officers (the “Ono Action”). On December 17, 2021, a second derivative complaint containing similar allegations against the Company’s directors and certain officers was filed by Mike Wang in the Central District of California and consolidated with the Ono Action (together, the “California Federal Derivative Action”). A third derivative complaint was filed by Leah Bisch and Raluca Corobana in California Superior Court for the County of Los Angeles on January 3, 2022, with similar allegations. A fourth derivative complaint was filed by David Butler in the U.S. District Court for the District of Delaware on October 19, 2022, with similar allegations. Each of these federal and state court derivative cases have been stayed. On December 18, 2025, the parties to all derivative cases reached an agreement in principle to settle the matters. On March 26, 2026, a motion for preliminary approval of the settlement was filed in the California Federal Derivative Action. A hearing on the motion for preliminary approval was held on April 29, 2026 and the final approval hearing is set on July 13, 2026. The settlement remains subject to preliminary and final approval by the court and certain other conditions and contingencies out of our control. The Company recorded the settlement amount of $1.2 million within accrued expenses and a corresponding insurance recovery of $1.2 million within prepaids and other current assets related to the legal settlement on the consolidated balance sheet as of March 31, 2026, and December 31, 2025. The determination that the recorded insurance recovery receivable was probable of collection was based on the terms of the applicable insurance policies, settlement agreement, and communications with the insurers. On November 5, 2025, the Company filed a complaint in the U.S. District Court for the Central District of California (the "Court") alleging that Butterblu, LLC (“Butterblu”) breached the supplier services agreement, as amended, that the Company and Butterblu had entered into as of August 15, 2022 (the "Supplier Services Agreement") pursuant to which Butterblu provides certain design, manufacturing, sales and marketing services to the Company in connection with the Company's apparel products. The Company voluntarily dismissed the complaint on November 21, 2025 related to a temporary extension of the Supplier Services Agreement. Following the conclusion of the temporary extension of the Supplier Services Agreement in December 2025, the Company filed an updated complaint on January 2, 2026. The Company has requested monetary damages and declaratory relief as determined by the Court. On February 11, 2026, Butterblu filed a complaint against the Company in the California Superior Court for the County of Los Angeles alleging breach of contract, breach of implied contract, breach of implied covenant of good faith and fair dealing, quantum meruit, promissory estoppel, intentional interference with contract, and intentional interference with prospective economic relations related to the parties' obligations under the Supplier Services Agreement. These matters are in the preliminary stages of litigation with uncertain outcomes at this time. Therefore, the Company cannot estimate the probability of gain or loss, or make an estimate of the gain or loss or range of gain or loss in these matters. As of March 31, 2026 and December 31, 2025, the Company was not subject to any other currently pending legal matters or claims that based on its current evaluation are expected to have a material adverse effect on its financial position, results of operations, or cash flows should such matters be resolved unfavorably. Tariffs Following the February 2026 U.S. Supreme Court ruling that invalidated specific tariffs under the International Emergency Economic Powers Act ("IEEPA"), the Company is evaluating its eligibility for refunds of previously paid import duties. Due to the inherent uncertainty surrounding the timing and recoverability of these refunds, no receivable or corresponding offset to expense or asset was recognized as of March 31, 2026. Management continues to monitor these developments, including potential revenue adjustments related to contractual refund obligations to third-party manufacturers. Indemnifications In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to investors, directors and officers with respect to certain matters, including, but not limited to, losses arising out of the Company’s breach of such agreements, services to be provided by the Company, or from intellectual property infringement claims made by third parties. These indemnifications may survive termination of the underlying agreement and the maximum potential number of future payments the Company could be required to make under these indemnification provisions may not be subject to maximum loss clauses. The maximum potential number of future payments the Company could be required to make under these indemnification provisions is indeterminable. The Company has never been involved in litigation in connection with these indemnification arrangements. As of March 31, 2026 and December 31, 2025, the Company has not accrued a liability for these guarantees as the likelihood of incurring a payment obligation, if any, in connection with these guarantees is not probable or reasonably estimable due to the unique facts and circumstances involved.

Restructuring

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring

Transformation 2.0: Powering Honest Growth

In October 2025, the Company's Board of Directors approved Transformation 2.0: Powering Honest Growth ("Powering Honest Growth") which builds upon the Company's original Transformation Pillars of Brand Maximization, Margin Enhancement and Operating Discipline. Powering Honest Growth is aimed at driving growth, improving simplicity, focus and profitability, which includes exiting certain lower margin, non-strategic categories and channels, including Honest.com fulfillment and the apparel category as a seller of merchandise, retail and online stores in Canada, as well as optimizing our cost structure by rightsizing selling, general and administrative expenses and implementing supply chain efficiencies.

Restructuring costs are one of the elements of Powering Honest Growth and are included in Restructuring on the statements of comprehensive income (loss):

•Contract and External Obligation Costs — include expense to terminate contracts prior to expiration, litigation and professional fees, and other costs associated with external obligations arising from restructuring.

•Employee and Personnel-Related Costs — primarily severance and other post-employment benefit costs, calculated based on salary levels, prior service, statutory minimum benefits, and other personnel-related expenses incurred as a result of restructuring.

•Asset and Other Restructuring-Related Costs — consist primarily of technology taken out of service.

The Company records costs associated with the restructuring once the relevant accounting criteria have been met.

Costs associated with Powering Honest Growth for the three months ended March 31, 2026 were as follows (in thousands):


Cost of Revenue(1)	$	686
Restructuring Costs(2)	606
Total	$	1,292

______________

(1) The Company incurred costs in connection with a warehouse closure which is included in cost of revenue on the consolidated statements of comprehensive loss.

(2) Refer to the restructuring table below for additional details of the costs included in restructuring costs.

Charges incurred to restructuring costs for the three months ended March 31, 2026 were:


	Restructuring Costs
	Employee and Personnel-Related Costs		Asset and Other Restructuring-Related Costs		Contract and External Obligation Costs		Total

Charges for the three months ended March 31, 2026	$	304	$	302	$	—	$	606

Changes in accrued expenses as of March 31, 2026 were:


	Accrued Restructuring-Related Costs(1)
	Asset and Other Restructuring-Related Costs		Contract and External Obligation Costs		Employee and Personnel-Related Costs		Total
Balance at December 31, 2025	$	1,147	$	2,535	$	852	$	4,534
Charges	577		—		386		963
Cash payments	(259)		(13)		(673)		(945)
Other adjustments	—		—		—		—
Balance at March 31, 2026	$	1,465	$	2,522	$	565	$	4,552

___________

(1) Included in accrued expenses as of March 31, 2026. Refer to Note 6, "Accrued Expenses" included elsewhere in these consolidated financial statements.

Nature of Business	3 Months Ended
Nature of Business	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business The Honest Company, Inc. (the “Company”) was incorporated in the State of California on July 19, 2011 and on May 23, 2012 was re-incorporated in the State of Delaware under the same name. The Company is a personal care company dedicated to creating cleanly-formulated and sustainably-designed products for everyone from babies to adults. The Honest Standard, the Company’s rigorous set of guiding principles that shape every step of product innovation and development, reflects Honest’s ongoing dedication to safety, transparency and integrity. As a leader in clean and sustainable products, Honest continues to set a new standard for clean formulations, bringing joy to a community that seeks authenticity, transparency and efficacy in everyday essentials.

Leases

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

The Company’s lease portfolio includes both real estate and non-real estate type leases, which are accounted for as either finance or operating leases. Real estate leases generally include office and warehouse facilities and non-real estate leases generally include office equipment and machinery. The Company determines if a contract is or contains a lease at inception. The Company’s leases have remaining lease terms of one to less than six years.

The components of lease expense were as follows (in thousands):


	For the three months ended March 31,
	2026		2025



Operating lease expense:
Operating lease expense(1)	$	1,785	$	1,792
Sublease income	(501)		(501)
Total lease expense, net	$	1,284	$	1,291

______________________

(1) Represents the straight-line lease expense of operating leases, inclusive of amortization of ROU assets and the interest component of operating lease liabilities.

Based on the nature of the Right-Of-Use (“ROU”) assets, amortization of operating ROU assets, operating lease expense and other lease expense are recorded within either cost of revenue or selling, general and administrative expenses and interest on finance lease liabilities is recorded within interest and other expense, net in the condensed consolidated statements of comprehensive income (loss).

The following tables set forth the amount of lease assets and lease liabilities included in the Company’s condensed consolidated balance sheets (in thousands):

Assets

Financial Statement Line Item

March 31, 2026

Operating lease assets

Operating lease right-of-use asset

9,677

Total lease assets

9,677

Liabilities

Current

Operating lease liabilities

Accrued expenses

8,689

Non-current

Operating lease liabilities

Operating lease liabilities, net of current portion

3,075

Total lease liabilities

11,764

Supplemental information related to the Company’s leases for the three months ended March 31, 2026 was as follows:


Weighted-average remaining lease term (in years)

Operating leases	1.7
Weighted-average discount rate

Operating leases	2.49		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)

Operating cash flows used in operating leases	$	2,278

The Company did not have any non-cash ROU assets obtained in exchange for lease liabilities during the three months ended March 31, 2026 for either finance or operating leases.

Leases

The components of lease expense were as follows (in thousands):


	For the three months ended March 31,
	2026		2025



Operating lease expense:
Operating lease expense(1)	$	1,785	$	1,792
Sublease income	(501)		(501)
Total lease expense, net	$	1,284	$	1,291

______________________

(1) Represents the straight-line lease expense of operating leases, inclusive of amortization of ROU assets and the interest component of operating lease liabilities.

The following tables set forth the amount of lease assets and lease liabilities included in the Company’s condensed consolidated balance sheets (in thousands):

Assets

Financial Statement Line Item

March 31, 2026

Operating lease assets

Operating lease right-of-use asset

9,677

Total lease assets

9,677

Liabilities

Current

Operating lease liabilities

Accrued expenses

8,689

Non-current

Operating lease liabilities

Operating lease liabilities, net of current portion

3,075

Total lease liabilities

11,764

Supplemental information related to the Company’s leases for the three months ended March 31, 2026 was as follows:


Weighted-average remaining lease term (in years)

Operating leases	1.7
Weighted-average discount rate

Operating leases	2.49		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)

Operating cash flows used in operating leases	$	2,278

The Company did not have any non-cash ROU assets obtained in exchange for lease liabilities during the three months ended March 31, 2026 for either finance or operating leases.

Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Financial assets measured and recorded at fair value on a recurring basis consist of the following as of:


	March 31, 2026
	Level 1		Level 2		Level 3		Total
(In thousands)

Money market funds	$	71,205	$	—	$	—	$	71,205


Total cash equivalents	$	71,205	$	—	$	—	$	71,205


	December 31, 2025
	Level 1		Level 2		Level 3		Total
(In thousands)

Money market funds	$	65,607	$	—	$	—	$	65,607
Total cash equivalents	$	65,607	$	—	$	—	$	65,607

The carrying amounts for the Company’s cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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-Topic 820
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 6A
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Subparagraph (d)
-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	May 01, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-40378
Entity Registrant Name	The Honest Company, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0750205
Entity Address, Address Line One	12130 Millennium Drive
Entity Address, Address Line Two	#500
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90094
City Area Code	888
Local Phone Number	862-8818
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	HNST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,078,615
Entity Central Index Key	0001530979
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Amendment Flag	false

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

Financial assets measured and recorded at fair value on a recurring basis consist of the following as of:


	March 31, 2026
	Level 1		Level 2		Level 3		Total
(In thousands)

Money market funds	$	71,205	$	—	$	—	$	71,205


Total cash equivalents	$	71,205	$	—	$	—	$	71,205


	December 31, 2025
	Level 1		Level 2		Level 3		Total
(In thousands)

Money market funds	$	65,607	$	—	$	—	$	65,607
Total cash equivalents	$	65,607	$	—	$	—	$	65,607

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the stock option activity:


	Number of Options	Weighted Average Exercise Price



















Outstanding at December 31, 2025	4,252,490	$	5.45
Granted	—	$	—
Exercised	—	$	—
Forfeited/Cancelled	(6,000)	$	5.23
Outstanding at March 31, 2026	4,246,490	$	5.45

Schedule of Restricted Stock Unit Activity

The following table summarizes the RSU activity under the 2021 Equity Incentive Plan and the 2023 Inducement Plan:


	Number of Shares		Weighted Average Grant Date Fair Value Per Share
	Non-Employee Directors	Directors, Officers and Employees	Non-Employee Directors		Directors, Officers and Employees
Unvested RSUs at December 31, 2025	418,924	5,266,468	$	4.28	$	3.92

Granted	112,157	4,892,417	$	2.58	$	2.45
Vested	(28,038)	(889,608)	$	2.58	$	4.09
Forfeited	—	(289,002)	$	—	$	4.35
Unvested RSUs at March 31, 2026	503,043	8,980,275	$	4.00	$	3.09

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the key input assumptions used in the Black-Scholes option-pricing model to estimate the grant-date fair value of the 2021 ESPP:


			March 31, 2026
Expected life of options (in years)			0.50
Expected stock price volatility			75.59%
Risk free interest rate			3.80%
Expected dividend yield			—%
Grant-date fair value per share			$0.95

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense related to RSU awards under the 2021 Equity Incentive Plan and the 2023 Inducement Plan, 2021 ESPP purchases and stock options, as applicable, are as follows:


	For the three months ended March 31,
	2026		2025
(In thousands)
Selling, general and administrative	$	2,251	$	2,241
Research and development	214		171
Total stock-based compensation expense	$	2,465	$	2,412

Net Income (Loss) per Share Attributable to Common Stockholders - Schedule of Potentially Dilutive Shares Excluded From Computation of Diluted Net Income (Loss) Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	11,186,076	382,115
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,250,468	51,000
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,886,775	310,362
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	48,833	20,753

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Schedule of Payables and Accruals [Line Items]
Payroll and payroll related expenses	$ 2,954	$ 4,390
Accrued inventory purchases	2,555	8,387
Accrued marketing	3,450	1,181
Accrued rent	8,689	9,042
Accrued restructuring	4,552	4,534
Other accrued expenses	5,467	8,151
Total accrued expenses	27,667	35,685
Executive Officer
Schedule of Payables and Accruals [Line Items]
Payroll and payroll related expenses	$ 100	$ 200

Restructuring - Schedule of Costs Associated with the Transformation Initiative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 606	$ 0
Employee and Personnel-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	304
Asset and Other Restructuring-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	302
Contract and External Obligation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 0

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2025. The condensed consolidated financial statements are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal recurring items, necessary for the fair statement of the condensed consolidated financial statements. The consolidated balance sheet as of December 31, 2025 has been derived from the audited financial statements at that date but does not include all of the disclosures required by GAAP. The condensed consolidated financial statements include the accounts of the Company, and its wholly owned subsidiaries after elimination of intercompany transactions and balances.
Restructuring	Restructuring As further described in Note 12, "Restructuring," during 2025, the Company commenced a restructuring plan, Transformation 2.0: Powering Honest Growth ("Powering Honest Growth"). Powering Honest Growth is aimed at driving growth, improving simplicity, focus and profitability, which includes exiting certain lower margin, non-strategic categories and channels, including Honest.com fulfillment and the apparel category as a seller of merchandise, retail and online stores in Canada, as well as optimizing the Company's cost structure by rightsizing selling, general and administrative expenses and implementing supply chain efficiencies. Such restructuring costs include employee termination benefits (one-time arrangements), termination of contractual obligations, non-cash asset charges, primarily including technology taken out of service, and other direct incremental costs. The Company recorded employee termination liabilities once the Company committed to a plan and communicated such terminations to employees. Other costs associated with a restructuring initiative, such as consulting and professional fees, product or geographical exit costs, are recognized in the period in which the liability is incurred. Accrued restructuring costs as of March 31, 2026 and December 31, 2025 are recorded within Accrued Expenses in the condensed consolidated balance sheets.
Segment Reporting and Geographic Information	Segment Reporting and Geographic Information The Company’s principal business primarily focuses on creating cleanly-formulated and sustainably-designed products. The Company’s Chief Executive Officer (“CEO”), as the chief operating decision maker (“CODM”), organizes the Company, manages resource allocations, and measures performance on the basis of one operating segment. The Company evaluates performance based on consolidated net income (loss) to monitor budget versus actual results and period-over-period comparisons. The CODM additionally considers forecasted information on a quarterly basis for net income (loss) when making decisions regarding capital and personnel needs. The CODM reviews information at the consolidated entity level, and does not distinguish the principal business, or group the operations, by geographic locations or industry types for purposes of measuring performance or allocating resources. While the Company creates products that are sold across retail channels and, prior to December 31, 2025, direct-to-consumer (“DTC”), all products are managed as one brand of products under one operating and reportable segment. Furthermore, the Company notes that monitoring financial results as one reportable segment helps the CODM manage expenses on a consolidated basis, consistent with the Company’s operations. The Company does not regularly provide the CODM with more detailed segment expense information beyond what is included in the condensed consolidated statements of comprehensive income (loss). The significant expense categories which are used to manage operations are those reflected in the Company's condensed consolidated statements of comprehensive income (loss). Refer to the condensed consolidated statements of comprehensive income (loss) included in the consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for more information. All of the Company’s long-lived assets are located in the United States and substantially all of the Company’s revenue is from customers located in the United States.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. The Company’s estimates, which are subject to varying degrees of judgment, include the valuation of inventories, sales returns and allowances, allowances for credit losses, valuation of short-term investments, capitalized software, useful lives associated with long-lived assets, goodwill impairment, incremental borrowing rates associated with leases, valuation allowances with respect to deferred tax assets, accruals and contingencies, recoverability of non-cash marketing credits, and the valuation and assumptions underlying stock-based compensation. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. The Company assessed certain accounting matters and estimates that generally require consideration of forecasted information in context with the information reasonably available to the Company as of March 31, 2026 and through the date these condensed consolidated financial statements were issued. Management is not aware of any specific event or circumstance that would require an update to estimates or judgments or a revision to the carrying value of assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in the Company’s consolidated financial statements in future periods.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents consist of short-term, highly liquid investments with stated maturities of three months or less from the date of purchase. Cash equivalents comprise amounts invested in money market funds.
Accounts Receivable	Accounts Receivable Accounts receivable are presented as net of allowance for credit losses. The Company does not accrue interest on its trade receivables. The Company evaluates accounts receivable estimated to be uncollectible by considering the lifetime expected credit losses of the Company's accounts receivable at time of inception, and records an allowance for credit losses, as necessary, with the balance of the Company's accounts receivable presented at the amortized cost. The Company considers factors in its allowance for credit losses such as historical analysis, credit quality of customers, the age of the accounts receivable balances and macroeconomic conditions that may have an impact on the Company's customers' ability to pay. As discussed further below, the Company elected the practical expedient to assume that current conditions as of the balance sheet date will not change for the remaining life of the accounts receivable. The allowance for credit losses was $0.2 million as of March 31, 2026 and December 31, 2025.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the following hierarchy in measuring the fair value of the Company’s assets and liabilities, focusing on the most observable inputs when available: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than Level 1 quoted prices, such as quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active for identical or similar assets and liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Valuations are based on inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Fair value is based on quoted market prices, if available. If listed prices or quotes are not available, fair value is based on internally developed models that primarily use market-based or independently sourced market parameters as inputs. Cash equivalents, consisting primarily of money market funds, represent highly liquid investments with maturities of three months or less at purchase. Market prices, which are Level 1 in the fair value hierarchy, are used to determine the fair value of the money market funds. Investments in debt securities are measured using broker provided indicative prices developed using observable market data, which are considered Level 2 in the fair value hierarchy. Certain assets, including long-lived assets, goodwill and intangible assets are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review. The fair value of such assets is measured using Level 3 inputs in the fair value hierarchy.
Recent Accounting Pronouncements	Recent Accounting Pronouncements As an “emerging growth company,” the Jumpstart Our Business Startups Act allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies. Recently Issued Accounting Pronouncements - Adopted In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update creates a practical expedient for estimating expected credit losses on current accounts receivable and current contract assets arising from transactions under ASC 606 by assuming that current conditions at the balance sheet date will remain unchanged over the life of the asset. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2025, and interim periods within those annual reporting periods. The adoption of ASU No. 2025-05 did not have a material impact on the Company's consolidated financial statements or related disclosures. Recently Issued Accounting Pronouncements - Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This update is to improve the disclosures of components of certain income statement expense items. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact that ASU No. 2024-03 will have on its consolidated financial statements or related disclosures. In September 2025, the FASB issued ASU No. 2025-06, Intangibles - Goodwill and Other Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update is to modernize the accounting for software costs that are accounted for under Subtopic 350-40, Intangibles-Goodwill and Other-Internal-Use Software. The amendments in this update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The adoption of ASU No. 2025-06 is not expected to have a material impact on the Company's consolidated financial statements or related disclosures.
Retail and Third-Party Ecommerce and Direct-to-Consumer	Retail and Third-Party Ecommerce For retail and third-party ecommerce sales, the Company’s performance obligation consists of the sale of finished goods to retailers and third-party ecommerce customers. Revenue is recognized when control of the promised goods is transferred to those customers at time of shipment or delivery, depending on the contract terms. After the completion of the performance obligation, the Company has the right to consideration as outlined in the contract. Payment terms vary among the retail and third-party ecommerce customers although terms generally include a requirement of payment within 30 to 45 days of product shipment. Direct-to-Consumer Effective December 31, 2025, the Company no longer sells direct-to-consumer through the Company’s website as part of Powering Honest Growth. For direct sales to the consumer through the Company's website, Honest.com, the Company's performance obligation consisted of the sale of finished goods to the consumer. Consumers may have purchased products at any time or entered into subscription arrangements. Consumers placed orders online in accordance with the Company's standard terms and conditions and authorized payment when the order was placed. Credit cards were charged at the time of shipment and payments were typically processed within two to three business days. For subscription arrangements, consumers signed up to receive products on a periodic basis. Subscriptions were cancellable at any time without penalty, and no amounts were collected from the consumer until products were shipped. Revenue was recognized when transfer of control to the consumer took place, which is when the product was delivered to the carrier. Sales taxes collected from consumers were accounted for on a net basis and were excluded from revenue. The Company did not generate any revenue from Honest.com for three months ended March 31, 2026. Revenue generated from Honest.com was 11% of the Company's total revenue during the three months ended March 31, 2025

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Stockholders’ equity
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,000,000,000	1,000,000,000
Common stock issued (in shares)	113,727,283	112,809,637
Common stock outstanding (in shares)	113,727,283	112,809,637
Treasury stock (in shares)	1,052,672	0

Stockholders' Equity - 2021 Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - 2021 Employee Stock Purchase Plan - shares	1 Months Ended	3 Months Ended
	Apr. 30, 2021	Mar. 31, 2026	Jan. 01, 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock authorized to be issued (in shares)	1,175,000		1,124,667
Period to increase available shares for issuance (in years)	10 years
Percentage of total number of shares outstanding	1.00%
Additional shares authorized (in shares)	3,525,000
Purchase price of common stock in percent	85.00%
Offering period	6 months
Shares issued through ESPP (in shares)		0
Number of shares available for purchase (in shares)		5,783,016

Stockholders' Equity - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 2,465	$ 2,412
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,251	2,241
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 214	$ 171

Net Income (Loss) per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Net Income (Loss) per Share Attributable to Common Stockholders

Basic net income (loss) attributable to common stockholders per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding. The Company

computes diluted net income (loss) per share under a two-class method where income is reallocated between common stock, potential common stock and participating securities, if any. Diluted net income (loss) per share attributable to common stockholders adjusts the basic net income (loss) per share attributable to common stockholders and the weighted-average number of shares of common stock outstanding for the potentially dilutive impact of stock options using the treasury stock method.

The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share attributable to common stockholders:


	For the three months ended March 31,
(In thousands, except for share and per share values)	2026		2025
Numerator:
Net (loss) income	$	(42)	$	3,254



Net (loss) income attributable to common stockholders — basic	$	(42)	$	3,254

Net (loss) income attributable to common stockholders - diluted	$	(42)	$	3,254

Denominator:
Weighted average shares of common stock outstanding — basic	112,819,781		109,552,550

Add: effect of dilutive RSUs	—		4,727,055
Add: effect of dilutive stock options	—		291,514
Weighted average shares of common stock outstanding - diluted	112,819,781		114,571,119

Net (loss) income per share, attributable to common shareholders:
Basic	$	(0.00)	$	0.03
Diluted	$	(0.00)	$	0.03

The following potentially dilutive shares were excluded from the computation of diluted net (loss) income per share because including them would have been antidilutive:


	For the three months ended March 31,
	2026	2025

Stock options to purchase common stock	4,250,468	51,000
Unvested restricted stock units	6,886,775	310,362
Employee stock purchase plan	48,833	20,753
Total	11,186,076	382,115

Stockholders' Equity - 2023 Inducement Plan (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2023
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 27.3
Period for recognition (in years)	3 years
2023 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock authorized to be issued (in shares)		4,000,000
Number of shares available for purchase (in shares)	738,806

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Net Income (Loss) per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share attributable to common stockholders:


	For the three months ended March 31,
(In thousands, except for share and per share values)	2026		2025
Numerator:
Net (loss) income	$	(42)	$	3,254



Net (loss) income attributable to common stockholders — basic	$	(42)	$	3,254

Net (loss) income attributable to common stockholders - diluted	$	(42)	$	3,254

Denominator:
Weighted average shares of common stock outstanding — basic	112,819,781		109,552,550

Add: effect of dilutive RSUs	—		4,727,055
Add: effect of dilutive stock options	—		291,514
Weighted average shares of common stock outstanding - diluted	112,819,781		114,571,119

Net (loss) income per share, attributable to common shareholders:
Basic	$	(0.00)	$	0.03
Diluted	$	(0.00)	$	0.03

Schedule of Potentially Dilutive Shares Excluded From Computation of Diluted Net Income (Loss) Per Share

The following potentially dilutive shares were excluded from the computation of diluted net (loss) income per share because including them would have been antidilutive:


	For the three months ended March 31,
	2026	2025

Stock options to purchase common stock	4,250,468	51,000
Unvested restricted stock units	6,886,775	310,362
Employee stock purchase plan	48,833	20,753
Total	11,186,076	382,115

Stockholders' Equity - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Options	3 Months Ended
	Mar. 31, 2026 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	6 months
Expected stock price volatility	75.59%
Risk free interest rate	3.80%
Expected dividend yield	0.00%
Grant-date fair value per share (in dollars per share)	$ 0.95

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Settlement amount, current	$ 1.2	$ 1.2
Insurance recovery related to settlement	$ 1.2	$ 1.2

Stockholders' Equity - 2021 Equity Incentive Plan (Details) - 2021 Equity Incentive Plan - shares	1 Months Ended
	Apr. 30, 2021	Jan. 01, 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares that may be issued (in shares)	25,025,580
Period to increase available shares for issuance (in years)	10 years
Percentage of total number of shares outstanding	4.00%
Number of common stock authorized to be issued (in shares)		4,498,671
Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares that may be issued (in shares)	75,100,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Restructuring - Schedule of Changes in Accrued Expenses Relating to Transformation Initiative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Restructuring Reserve [Roll Forward]
Balance at December 31, 2025	$ 4,534
Charges	963
Cash payments	(945)
Other adjustments	0
Balance at March 31, 2026	4,552
Asset and Other Restructuring-Related Costs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2025	1,147
Charges	577
Cash payments	(259)
Other adjustments	0
Balance at March 31, 2026	1,465
Contract and External Obligation Costs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2025	2,535
Charges	0
Cash payments	(13)
Other adjustments	0
Balance at March 31, 2026	2,522
Employee and Personnel-Related Costs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2025	852
Charges	386
Cash payments	(673)
Other adjustments	0
Balance at March 31, 2026	$ 565

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 71,205	$ 65,607
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	71,205	65,607
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	71,205	65,607
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	71,205	65,607
Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 0	$ 0

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating lease expense:
Operating lease expense	$ 1,785	$ 1,792
Sublease income	(501)	(501)
Total lease expense, net	$ 1,284	$ 1,291