0001530979-23-000143 | 10-Q | XBRL Viewer

Investments

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

InvestmentsAs of September 30, 2023, the Company did not hold any investments in debt securities. As of December 31, 2022, all investments in debt securities were classified as available-for-sale investments. All investments were reported within current assets because the securities represent investments of cash available for current operations. As of December 31, 2022, the Company held $5.7 million of investments with contractual maturities of less than one year. As of December 31, 2022, the Company did not have any investments with contractual maturities between one and two years. Available-for-sale investments are recorded at fair value, and unrealized holding gains and losses are recorded as a component of other comprehensive income (loss).

The following table summarizes the Company’s available-for-sale investments:


	As of December 31, 2022
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value
(In thousands)
Corporate bonds	$	3,216	$	—	$	(24)	$	3,193
Commercial paper	582		—		—		582
Certificates of deposit	1,884		—		(9)		1,875

Total investments	$	5,682	$	—	$	(33)	$	5,650

Realized gains and losses on investments in debt securities for the three and nine months ended September 30, 2023 and 2022 were immaterial.

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 3,707	$ 3,900	$ 13,892	$ 11,360
Unvested restricted stock units \| Certain Former Executives
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, accelerated cost	500		3,100
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,608	3,852	13,648	10,929
Selling, general and administrative \| Certain Former Executives
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	500
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 99	$ 48	$ 244	$ 431

Credit Facilities (Details) - 2023 Credit Facility - USD ($)	1 Months Ended
	Jan. 31, 2023	Sep. 30, 2023
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum issuance of letters of credit	$ 35,000,000
Line of credit facility, accordion feature, increase limit	35,000,000
Line of credit facility, accordion feature, higher borrowing capacity	$ 70,000,000
Letters of credit outstanding		$ 3,900,000
Letters of credit available to be drawn		$ 19,200,000
Secured overnight financing rate floor	0.00%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus)	1.50%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus)	2.25%
Revolving Credit Facility \| Prime Rate \| Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus)	0.25%
Revolving Credit Facility \| Prime Rate \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus)	(0.25%)
Revolving Credit Facility \| Prime Rate \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus (minus)	(0.50%)
Revolving Credit Facility \| CB floating rate
Line of Credit Facility [Line Items]
Interest rate base	2.50%
Letter of Credit \| Line of Credit
Line of Credit Facility [Line Items]
Maximum issuance of letters of credit	$ 15,000,000

Credit Facilities	9 Months Ended
Credit Facilities	Sep. 30, 2023
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities In January 2023, the Company entered into a first lien credit agreement (the “2023 Credit Facility”), with JPMorgan Chase Bank, N.A., as administrative agent and lender, and the other lenders party thereto, which provides for a $35.0 million revolving credit facility that matures on April 30, 2026. The 2023 Credit Facility 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. Availability of the 2023 Credit Facility is based upon a borrowing base formula and periodic borrowing base certifications valuing certain of the Company’s accounts receivable and inventory as reduced by an availability block and certain reserves, if any. The 2023 Credit Facility includes an uncommitted accordion feature that allows for increases in the revolving commitment to as much as an additional $35.0 million, for up to $70.0 million in potential revolving commitment. The 2023 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 2023 Credit Facility. The Company recognizes the commitment fee as incurred in interest and other income (expense), net in the condensed consolidated statements of comprehensive loss. For the three and nine months ended September 30, 2023, the commitment fee incurred was immaterial. As of September 30, 2023, there were $3.9 million outstanding letters of credit and $19.2 million available to be drawn upon. The interest rate applicable to the 2023 Credit Facility is, at the Company’s option, either (a) the Adjusted Term SOFR rate (subject to a 0.00% floor), plus a margin ranging from 1.50% to 2.25% or (b) the CB floating rate, (i) plus a margin of 0.25% or (ii) minus a margin ranging from 0.25% to 0.50%. The margin is based upon the Company’s fixed charge coverage ratio. The CB floating rate is the higher of (a) the Wall Street Journal prime rate and (b) 2.50%. The 2023 Credit Facility will terminate and borrowings thereunder, if any, would be due in full on April 30, 2026. Debt under the 2023 Credit Facility is guaranteed by substantially all of the Company’s material domestic subsidiaries and is secured by substantially all of the Company’s and such subsidiaries’ assets. The 2023 Credit Facility contains covenants that restrict, among other things, the Company's ability to sell assets, make investments and acquisitions, grant liens, change the Company’s lines of business, pay dividends and make certain other restricted payments. The Company is subject to certain affirmative and negative covenants including the requirement that it maintains a minimum total fixed charge coverage ratio during the periods set forth in the 2023 Credit Facility. Failure to do so, unless waived by the lenders under the 2023 Credit Facility pursuant to its terms, as amended, would result in an event of default under the 2023 Credit Facility. As of September 30, 2023, the Company is in compliance with all covenants under the 2023 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.

+ References

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+ Details

Restructuring - Narrative (Details) $ in Millions	Sep. 30, 2023 USD ($)
Employee Severance and Contract Terminations
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 0.4

- 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

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue


Revenue by sales channel:	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
(In thousands)
Digital	$	40,103	$	33,782	$	123,648	$	105,913
Retail	46,066		50,798		130,453		125,879
Total revenue	$	86,169	$	84,580	$	254,101	$	231,792


Revenue by product category:	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
(In thousands)
Diapers and Wipes	$	52,584	$	55,222	$	160,917	$	150,411
Skin and Personal Care	21,221		21,992		66,748		66,534
Household and Wellness	12,364		7,366		26,436		14,847
Total revenue	$	86,169	$	84,580	$	254,101	$	231,792

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. During the nine months ended September 30, 2023, the Company did not enter into any new trade agreements.

For the three and nine months ended September 30, 2023, the Company did not recognize any revenue or associated cost of revenue related to these marketing and transportation credits. For the three and nine months ended September 30, 2022, the Company recognized $1.6 million and $2.9 million, respectively, of revenue and $0.8 million and $1.6 million, respectively, of associated cost of revenue based on the timing of delivery of goods, 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 operations as they become determinable. During the nine months ended September 30, 2023, the Company recorded no impairment losses related to these credits and used an aggregate of $0.2 million of credits.

- 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
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Number of Options
Options outstanding, beginning balance (in shares) \| shares	14,888,007
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	(2,300)
Forfeited/Cancelled (in shares) \| shares	(1,550,149)
Options outstanding, ending balance (in shares) \| shares	13,335,558
Weighted Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 5.24
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	1.70
Forfeited/cancelled (in dollars per share) \| $ / shares	5.16
Ending balance (in dollars per share) \| $ / shares	$ 5.25

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net loss	$ (40,381)	$ (36,427)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	2,021	2,025
Stock-based compensation	13,892	11,360
Other	4,680	4,805
Changes in assets and liabilities:
Accounts receivable, net	4,132	(7,087)
Inventories	36,158	(24,609)
Prepaid expenses and other assets	7,498	(3,228)
Accounts payable, accrued expenses and other long-term liabilities	(13,875)	7,604
Deferred revenue	1,046	49
Operating lease liabilities	(5,740)	(5,161)
Net cash provided by (used in) operating activities	9,431	(50,669)
Cash flows from investing activities
Purchases of short-term investments	0	(12,782)
Proceeds from maturities of short-term investments	5,683	38,219
Purchases of property and equipment	(1,588)	(1,433)
Net cash provided by investing activities	4,095	24,004
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	0	(37)
Proceeds from exercise of stock options	4	122
Proceeds from 2021 ESPP	102	157
Payments on finance lease liabilities	(46)	(281)
Net cash provided by (used in) financing activities	60	(39)
Net increase (decrease) in cash and cash equivalents	13,586	(26,704)
Cash and cash equivalents
Beginning of the period	9,517	50,791
End of the period	23,103	24,087
Supplemental disclosures of noncash activities
Capital expenditures included in accounts payable and accrued expenses	$ 25	$ 92

Restructuring - Please update to "Schedule of Changes in Accrued Expenses Relating to Transformation Initiative (Details) - Transformation Initiative $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Balance at December 31, 2022	$ 0
Charges (adjustments)	6,718
Cash payments	(777)
Non-cash asset write-offs	(1,788)
Balance at September 30, 2023	4,153
Employee-Related Costs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2022	0
Charges (adjustments)	1,041
Cash payments	(661)
Non-cash asset write-offs	0
Balance at September 30, 2023	380
Asset-Related Costs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2022	0
Charges (adjustments)	0
Cash payments	0
Non-cash asset write-offs	0
Balance at September 30, 2023	0
Contract Terminations
Restructuring Reserve [Roll Forward]
Balance at December 31, 2022	0
Charges (adjustments)	479
Cash payments	(116)
Non-cash asset write-offs	0
Balance at September 30, 2023	363
Inventory Reserves
Restructuring Reserve [Roll Forward]
Balance at December 31, 2022	0
Charges (adjustments)	5,198
Cash payments	0
Non-cash asset write-offs	(1,788)
Balance at September 30, 2023	$ 3,410

Fair Value Measurements

9 Months Ended

Sep. 30, 2023

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:


	September 30, 2023
	Level 1		Level 2		Level 3		Total
(In thousands)
Cash equivalents
Money market funds	$	5,517	$	—	$	—	$	5,517


Total cash equivalents	$	5,517	$	—	$	—	$	5,517


	December 31, 2022
	Level 1		Level 2		Level 3		Total
(In thousands)
Cash equivalents
Money market funds	$	9,595	$	—	$	—	$	9,595
Total cash equivalents	$	9,595	$	—	$	—	$	9,595
Short-term investments
Corporate bonds	—		3,193		—		3,193
Commercial paper	—		582		—		582
Certificates of deposit	—		1,875		—		1,875

Total short-term investments	—		5,650		—		5,650
Total	$	9,595	$	5,650	$	—	$	15,245

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 + Details

Accrued Expenses

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following:


	September 30, 2023		December 31, 2022
(In thousands)
Payroll and payroll related expenses(1)	$	6,245	$	6,790
Accrued inventory purchases	7,545		17,050
Accrued returns	273		318
Accrued rent(2)	7,999		7,688
Accrued restructuring(3)	384		—
Other accrued expenses	8,718		6,164
Total accrued expenses	$	31,164	$	38,010

____________________

(1) Includes $1.7 million and $4.3 million of executive transition related expense as of September 30, 2023 and December 31, 2022, respectively.

(2) Represents short-term operating lease liabilities. Refer to Note 13, "Leases" included in these condensed consolidated financial statements for more information on leases.

(3) Refer to Note 14, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring initiative.

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
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	150,000,000
Common stock issued (in shares)	95,562,477	92,907,351
Common stock outstanding (in shares)	95,562,477	92,907,351

Restructuring (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

Costs associated with the Transformation Initiative for the three and nine months ended September 30, 2023 were as follows (in thousands):


	For the three months ended September 30, 2023		For the nine months ended September 30, 2023
Net Revenue(1)	$	(117)	$	339
Cost of Revenue	586		3,873
Restructuring Costs(2)	357		2,104
Other Costs(3)	1,365		4,207
Total	$	2,191	$	10,523

______________

(1) Relates to estimated product markdowns and true-up of prior quarter estimates.

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

(3) Refer to description above for types of operating expenses included in Other Costs.


	Restructuring Costs
	Employee-Related Costs		Asset-Related Costs		Contract Terminations		Total
Three months ended September 30, 2023	$	285	$	72	$	—	$	357
Cumulative through September 30, 2023	$	1,041	$	193	$	870	$	2,104

Schedule of Restructuring Reserve by Type of Cost

Changes in accrued expenses as of September 30, 2023 relating to the Transformation Initiative were:


	Restructuring Costs
	Employee-Related Costs(1)		Asset-Related Costs		Contract Terminations		Inventory Reserves		Total
Balance at December 31, 2022	$	—	$	—	$	—	$	—	$	—
Charges (adjustments)	1,041		—		479		5,198		6,718
Cash payments	(661)		—		(116)		—		(777)
Non-cash asset write-offs	—		—		—		(1,788)		(1,788)
Balance at September 30, 2023	$	380	$	—	$	363	$	3,410	$	4,153

___________

(1) Included in accrued expenses as of September 30, 2023. Refer to Note 7, "Accrued Expenses" included elsewhere in these condensed consolidated financial statements.

Revenue - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Revenue - Narrative (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 86,169,000	$ 84,580,000	$ 254,101,000	$ 231,792,000
Cost of revenue	58,964,000	58,963,000	$ 183,796,000	161,984,000
Trade Agreements
Disaggregation of Revenue [Line Items]
Marketing credits, usage period			4 years
Marketing credits, option to extend			2 years
Revenue	$ 0	1,600,000		2,900,000
Cost of revenue		$ 800,000	$ 0	$ 1,600,000
Impairment			0
Transportation credit used			$ 200,000

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
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-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ 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

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Nature of Business	9 Months Ended
Nature of Business	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of BusinessThe 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 digitally-native consumer products company dedicated to creating clean- and sustainably-designed products spanning baby care, beauty, personal care, wellness and household care. The Company sells its products through digital and retail sales channels in the following product categories: Diapers and Wipes, Skin and Personal Care, and Household and Wellness.

Net Income (Loss) per Share Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Net Income (Loss) per Share Attributable to Common Stockholders

Net Income (Loss) per Share Attributable to Common StockholdersThe Company computes net income (loss) per share using the two-class method required for participating securities. The two-class method requires net income be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. In periods where the Company has net losses, losses are not allocated to participating securities as they are not required to fund the losses. The Company considers its redeemable convertible preferred stock to be participating securities as preferred stockholders have rights to participate in dividends with the 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 per share under a two-class method where income is reallocated between common stock, potential common stock and participating securities. 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 per share attributable to common stockholders:


	For the three months ended September 30,				For the nine months ended September 30,
(In thousands, except for share and per share values)	2023		2022		2023		2022
Numerator:
Net loss	$	(8,098)	$	(11,788)	$	(40,381)	$	(36,427)
Net loss attributable to common stockholders - basic and diluted	$	(8,098)	$	(11,788)	$	(40,381)	$	(36,427)



Denominator:
Weighted average shares of common stock outstanding - basic	95,179,604		92,460,987		94,137,244		92,020,423

Weighted average shares of common stock outstanding - diluted	95,179,604		92,460,987		94,137,244		92,020,423

Net loss per share, attributable to common shareholders:
Basic and diluted	$	(0.09)	$	(0.13)	$	(0.43)	$	(0.40)

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


	For the three months ended September 30,		For the nine months ended September 30,
	2023	2022	2023	2022

Stock options to purchase common stock	13,335,558	15,015,298	13,335,558	15,015,298
Unvested restricted stock units	7,394,451	4,835,801	7,394,451	4,835,801
Employee stock purchase plan	68,962	68,497	68,962	68,497
Total	20,798,971	19,919,596	20,798,971	19,919,596

Summary of Significant Accounting Policies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Number of operating segments \| segment	1
Allowance for doubtful accounts \| $	$ 0.9	$ 0.5

Investments - Narrative (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments with contractual maturities of less than one year	$ 0	$ 5,700,000
Investments with contractual maturities between one and two years		$ 0

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		95,469,322
Entity Central Index Key	0001530979
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Revenue (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue


Revenue by sales channel:	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
(In thousands)
Digital	$	40,103	$	33,782	$	123,648	$	105,913
Retail	46,066		50,798		130,453		125,879
Total revenue	$	86,169	$	84,580	$	254,101	$	231,792


Revenue by product category:	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
(In thousands)
Diapers and Wipes	$	52,584	$	55,222	$	160,917	$	150,411
Skin and Personal Care	21,221		21,992		66,748		66,534
Household and Wellness	12,364		7,366		26,436		14,847
Total revenue	$	86,169	$	84,580	$	254,101	$	231,792

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Payables and Accruals [Line Items]
Payroll and payroll related expenses	$ 6,245	$ 6,790
Accrued inventory purchases	7,545	17,050
Accrued returns	273	318
Accrued rent	7,999	7,688
Accrued restructuring	384	0
Other accrued expenses	8,718	6,164
Total accrued expenses	31,164	38,010
Chief Executive Officer
Schedule of Payables and Accruals [Line Items]
Payroll and payroll related expenses	$ 1,700	$ 4,300

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
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 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. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Act”), which contains provisions that became effective on January 1, 2023, including a 15% corporate minimum tax and a 1% excise tax on stock buybacks. While the Company is still evaluating the impact of the Act, the Company does not currently expect any material changes on its consolidated financial position, results of operations and cash flows. During the three and nine months ended September 30, 2023 and 2022, the Company has not recorded any uncertain tax positions and has not recognized interest or penalties in the condensed consolidated statements of comprehensive loss.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 17
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-Publisher FASB
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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Leases

9 Months Ended

Sep. 30, 2023

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 less than one to six years.

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


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Finance lease expense:
Amortization	$	12	$	62	$	42	$	241
Interest on lease liabilities	—		1		—		7
Operating lease expense:
Operating lease expense(1)	1,792		1,795		5,376		5,362
Sublease income	(501)		(501)		(1,503)		(1,504)
Total lease expense, net	$	1,303	$	1,357	$	3,915	$	4,106

______________________

(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") asset, amortization of finance leases and 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 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

September 30, 2023

Finance lease assets

Property and equipment, net

Operating lease assets

Operating lease right-of-use asset

25,266

Total lease assets

25,294

Liabilities

Current

Finance lease liabilities

Accrued expenses

Operating lease liabilities

Accrued expenses

7,999

Non-current

Finance lease liabilities

Other long-term liabilities

Operating lease liabilities

Operating lease liabilities, net of current portion

23,791

Total lease liabilities

31,825

Supplemental information related to the Company’s leases for the nine months ended September 30, 2023 was as follows:


Weighted-average remaining lease term (in years)
Finance leases	0.9
Operating leases	3.8
Weighted-average discount rate
Finance leases	3.00		%
Operating leases	2.29		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows used in finance leases	$	1
Operating cash flows used in operating leases	$	5,740
Finance cash flows used in finance leases	$	46

The Company did not have any non-cash ROU assets obtained in exchange for lease liabilities during the nine months ended September 30, 2023 for either finance or operating leases.

Leases

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


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Finance lease expense:
Amortization	$	12	$	62	$	42	$	241
Interest on lease liabilities	—		1		—		7
Operating lease expense:
Operating lease expense(1)	1,792		1,795		5,376		5,362
Sublease income	(501)		(501)		(1,503)		(1,504)
Total lease expense, net	$	1,303	$	1,357	$	3,915	$	4,106

______________________

(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

September 30, 2023

Finance lease assets

Property and equipment, net

Operating lease assets

Operating lease right-of-use asset

25,266

Total lease assets

25,294

Liabilities

Current

Finance lease liabilities

Accrued expenses

Operating lease liabilities

Accrued expenses

7,999

Non-current

Finance lease liabilities

Other long-term liabilities

Operating lease liabilities

Operating lease liabilities, net of current portion

23,791

Total lease liabilities

31,825

Supplemental information related to the Company’s leases for the nine months ended September 30, 2023 was as follows:


Weighted-average remaining lease term (in years)
Finance leases	0.9
Operating leases	3.8
Weighted-average discount rate
Finance leases	3.00		%
Operating leases	2.29		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows used in finance leases	$	1
Operating cash flows used in operating leases	$	5,740
Finance cash flows used in finance leases	$	46

The Company did not have any non-cash ROU assets obtained in exchange for lease liabilities during the nine months ended September 30, 2023 for either finance or operating leases.

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 86,169	$ 84,580	$ 254,101	$ 231,792
Diapers and Wipes
Disaggregation of Revenue [Line Items]
Revenue	52,584	55,222	160,917	150,411
Skin and Personal Care
Disaggregation of Revenue [Line Items]
Revenue	21,221	21,992	66,748	66,534
Household and Wellness
Disaggregation of Revenue [Line Items]
Revenue	12,364	7,366	26,436	14,847
Digital
Disaggregation of Revenue [Line Items]
Revenue	40,103	33,782	123,648	105,913
Retail
Disaggregation of Revenue [Line Items]
Revenue	$ 46,066	$ 50,798	$ 130,453	$ 125,879

- 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

- Definition

+ References

+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

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:


	September 30, 2023
	Level 1		Level 2		Level 3		Total
(In thousands)
Cash equivalents
Money market funds	$	5,517	$	—	$	—	$	5,517


Total cash equivalents	$	5,517	$	—	$	—	$	5,517


	December 31, 2022
	Level 1		Level 2		Level 3		Total
(In thousands)
Cash equivalents
Money market funds	$	9,595	$	—	$	—	$	9,595
Total cash equivalents	$	9,595	$	—	$	—	$	9,595
Short-term investments
Corporate bonds	—		3,193		—		3,193
Commercial paper	—		582		—		582
Certificates of deposit	—		1,875		—		1,875

Total short-term investments	—		5,650		—		5,650
Total	$	9,595	$	5,650	$	—	$	15,245

Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following:


	September 30, 2023		December 31, 2022
(In thousands)
Payroll and payroll related expenses(1)	$	6,245	$	6,790
Accrued inventory purchases	7,545		17,050
Accrued returns	273		318
Accrued rent(2)	7,999		7,688
Accrued restructuring(3)	384		—
Other accrued expenses	8,718		6,164
Total accrued expenses	$	31,164	$	38,010

____________________

(1) Includes $1.7 million and $4.3 million of executive transition related expense as of September 30, 2023 and December 31, 2022, respectively.

(2) Represents short-term operating lease liabilities. Refer to Note 13, "Leases" included in these condensed consolidated financial statements for more information on leases.

(3) Refer to Note 14, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring initiative.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based CompensationStock Options

The following table summarizes the stock option activity:


	Number of Options	Weighted Average Exercise Price



















Outstanding at December 31, 2022	14,888,007	$	5.24
Granted	—	$	—
Exercised	(2,300)	$	1.70
Forfeited/Cancelled	(1,550,149)	$	5.16
Outstanding at September 30, 2023	13,335,558	$	5.25

During the three months ended September 30, 2023, the Company extended the post-termination exercise period for each outstanding stock option held by certain former executives such that the post-termination exercise period will end on the earlier of (i) the original expiration date of the stock option, or (ii) the date that is the 3-year anniversary of certain former executives no longer providing services to the Company. There were no changes to the exercise price or other terms of these stock options, and these stock options were already fully vested prior to the modification. As a result of this modification, we recognized incremental stock-based compensation expense of $0.5 million for the three and nine months ended September 30, 2023.

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 parent and 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, 2023, 3,713,026 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.

The following table summarizes the RSU activity:


	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, 2022	452,951	4,165,403	$	3.44	$	8.09
Transfer from Employee to Non-Employee Director(1)	1,147,566	(1,147,566)	$	9.02	$	9.02
Granted	882,862	6,295,701	$	1.74	$	1.82
Vested(2)	(1,358,421)	(1,225,521)	$	5.89	$	6.35
Forfeited	(388,147)	(1,430,377)	$	10.51	$	5.62
Unvested RSUs at September 30, 2023	736,811	6,657,640	$	1.85	$	2.85

_____________

(1) Relates to former Chief Executive Officer ("CEO") RSUs that were reclassified to non-employee director shares for disclosure purposes. The former CEO was not re-nominated for election by the Board in connection with the annual stockholder meeting in May 2023.

(2) Includes accelerated vesting of certain former executives' outstanding RSUs, including the former CEO and CFO. As such, the Company recognized the related stock-based compensation expense during the three and nine months ended September 30, 2023.

As of September 30, 2023, there was $16.7 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of 2.9 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 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, 2023, 928,256 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 and nine months ended September 30, 2023, 68,962 shares were purchased under the 2021 ESPP. As of September 30, 2023, the Company had 2,814,479 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:


			For the nine months ended September 30, 2023
Expected life of options (in years)			0.50
Expected stock price volatility			86.19%
Risk free interest rate			5.36%
Expected dividend yield			—%
Weighted average grant-date fair value per share			$0.67

2023 Inducement Plan

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

Stock-Based Compensation Expense

Stock-based compensation expense related to RSU awards, 2021 ESPP purchases and stock options, as applicable, are as follows:


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
(In thousands)
Selling, general and administrative(1)	$	3,608	$	3,852	$	13,648	$	10,929
Research and development	99		48		244		431
Total stock-based compensation expense	$	3,707	$	3,900	$	13,892	$	11,360

__________________

(1) The Company extended the post-termination stock option exercise period for certain former executives, resulting in stock-based compensation expense of $0.5 million during the three months ended September 30, 2023. Additionally, the Company modified certain former executives' RSUs to accelerate vesting, including $0.5 million and $3.1 million during the three and nine months ended September 30, 2023.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2023
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, 2022. 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, 2022 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 The Company incurs restructuring costs in connection with the exiting of certain products and geographical locations, workforce reductions, and other actions. Such costs include employee termination benefits (one-time arrangements), termination of contractual obligations, non-cash asset charges, including asset impairments, and other direct incremental costs. The Company records employee termination liabilities once they are both probable and estimable for severance provided under the Company’s existing severance policy. Other costs associated with a restructuring initiative, such as consulting and professional fees, product or geographical exit costs, accelerated amortization associated with a restructuring initiative, are recognized in the period in which the liability is incurred. Accrued restructuring costs are recorded within Accrued Expenses in the condensed consolidated balance sheets. Refer to Note 14, "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 Chief Executive Officer, as the chief operating decision maker, organizes the Company, manages resource allocations, and measures performance on the basis of one operating segment. 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 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, incremental borrowing rates associated with leases, valuation allowances with respect to deferred tax assets, accruals and contingencies, recoverability of non-cash marketing credits, recoverability of goodwill and long-lived assets, 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 September 30, 2023 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. For example, based on macro trends within our Household and Wellness product category, consumer demand for sanitizing and disinfecting products decreased over the past few years. As a result, the Company made a decision to exit certain elements of these products during the quarter ended March 31, 2023. Refer to Note 14, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring initiatives. 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 is presented as net of allowance for credit losses. The Company does not accrue interest on its trade receivables. On a periodic basis, the Company evaluates accounts receivable estimated to be uncollectible, and provides an allowance for credit losses, as necessary. The Company considers factors in its allowance for accounts receivable such as historical analysis, credit quality of customers, the age of the accounts receivable balances and current macroeconomic conditions that may impact on our customer's ability to pay. The allowance for credit losses was $0.9 million and $0.5 million as of September 30, 2023 and December 31, 2022, respectively. 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 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 Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2016-13, Financial Instruments Credit Losses (Accounting Standard Codification 326): Measurement of Credit Losses on Financial Instruments, to amend the accounting for credit losses for certain financial instruments. This guidance replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses. In November 2019, FASB issued ASU No. 2019-10 which delayed the effective dates of the guidance. This guidance is effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies (“SRC”) for fiscal years beginning after December 15, 2019 and all other entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Effective January 1, 2023, the Company adopted this standard, which did not have a material impact on the Company’s consolidated financial statements.

Leases - Narrative (Details)	9 Months Ended
Leases - Narrative (Details)	Sep. 30, 2023 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

Stock-Based Compensation - RSU Awards Narrative (Details) - Unvested restricted stock units $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 16.7
Period for recognition	2 years 10 months 24 days

- 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
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-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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+ Details

Stock-Based Compensation - Stock Option Activity Narrative (Details) - Share-Based Payment Arrangement, Option - Certain Former Executives - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation anniversary period		3 years
Fair value of awards on day of modification	$ 0.5	$ 0.5

- 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 - Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net loss	$ (8,098)	$ (13,416)	$ (18,867)	$ (11,788)	$ (10,012)	$ (14,626)	$ (40,381)	$ (36,427)
Net loss attributable to common stockholders - basic	(8,098)			(11,788)			(40,381)	(36,427)
Net loss attributable to common stockholders - diluted	$ (8,098)			$ (11,788)			$ (40,381)	$ (36,427)
Denominator:
Weighted average shares of common stock outstanding - basic (in shares)	95,179,604			92,460,987			94,137,244	92,020,423
Weighted average shares of common stock outstanding - diluted (in shares)	95,179,604			92,460,987			94,137,244	92,020,423
Net loss per share, attributable to common shareholders:
Basic (in dollars per share)	$ (0.09)			$ (0.13)			$ (0.43)	$ (0.40)
Diluted (in dollars per share)	$ (0.09)			$ (0.13)			$ (0.43)	$ (0.40)

Net Income (Loss) per Share Attributable to Common Stockholders - Potentially Dilutive Shares Excluded From Computation of Diluted Net Income (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	20,798,971	19,919,596	20,798,971	19,919,596
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)	13,335,558	15,015,298	13,335,558	15,015,298
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)	7,394,451	4,835,801	7,394,451	4,835,801
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)	68,962	68,497	68,962	68,497

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 23,103	$ 9,517
Short-term investments	0	5,650
Accounts receivable, net	38,203	42,334
Inventories	79,507	115,664
Prepaid expenses and other current assets	8,770	15,982
Total current assets	149,583	189,147
Operating lease right-of-use asset	25,266	29,947
Property and equipment, net	13,883	14,327
Goodwill	2,230	2,230
Intangible assets, net	327	370
Other assets	4,249	4,578
Total assets	195,538	240,599
Current liabilities
Accounts payable	18,491	24,755
Accrued expenses	31,164	38,010
Deferred revenue	1,861	815
Total current liabilities	51,516	63,580
Long term liabilities
Operating lease liabilities, net of current portion	23,791	29,842
Other long-term liabilities	222	817
Total liabilities	75,529	94,239
Commitments and contingencies (Note 8)
Stockholders’ equity
Preferred stock, $0.0001 par value, 20,000,000 shares authorized at September 30, 2023 and December 31, 2022, none issued or outstanding as of September 30, 2023 and December 31, 2022	0	0
Common stock, $0.0001 par value, 1,000,000,000 and 150,000,000 shares authorized at September 30, 2023 and December 31, 2022, respectively; 95,562,477 and 92,907,351 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively	9	9
Additional paid-in capital	600,211	586,213
Accumulated deficit	(480,211)	(439,830)
Accumulated other comprehensive loss	0	(32)
Total stockholders’ equity	120,009	146,360
Total liabilities and stockholders’ equity	$ 195,538	$ 240,599

Stock-Based Compensation - RSU Awards (Details) - Unvested restricted stock units	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Non-Employee Directors
Number of Shares
Unvested RSUs, beginning balance (in shares) \| shares	452,951
Transfer from Employee to Non-Employee Director (in shares) \| shares	1,147,566
Granted (in shares) \| shares	882,862
Vested (in shares) \| shares	(1,358,421)
Forfeited (in shares) \| shares	(388,147)
Unvested RSUs, ending balance (in shares) \| shares	736,811
Weighted Average Grant Date Fair Value Per Share
Unvested RSUs, beginning balance (in dollars per share) \| $ / shares	$ 3.44
Transfer from Employee to Non-Employee Director (in dollars per share) \| $ / shares	9.02
Granted (in dollars per share) \| $ / shares	1.74
Vested (in dollars per share) \| $ / shares	5.89
Forfeited (in dollars per share) \| $ / shares	10.51
Unvested RSUs, ending balance (in dollars per share) \| $ / shares	$ 1.85
Directors, Officers and Employees
Number of Shares
Unvested RSUs, beginning balance (in shares) \| shares	4,165,403
Transfer from Employee to Non-Employee Director (in shares) \| shares	(1,147,566)
Granted (in shares) \| shares	6,295,701
Vested (in shares) \| shares	(1,225,521)
Forfeited (in shares) \| shares	(1,430,377)
Unvested RSUs, ending balance (in shares) \| shares	6,657,640
Weighted Average Grant Date Fair Value Per Share
Unvested RSUs, beginning balance (in dollars per share) \| $ / shares	$ 8.09
Transfer from Employee to Non-Employee Director (in dollars per share) \| $ / shares	9.02
Granted (in dollars per share) \| $ / shares	1.82
Vested (in dollars per share) \| $ / shares	6.35
Forfeited (in dollars per share) \| $ / shares	5.62
Unvested RSUs, ending balance (in dollars per share) \| $ / shares	$ 2.85

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events [TBU]

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			91,512,140
Beginning balance at Dec. 31, 2021	$ 179,106	$ 845	$ 9	$ 570,794	$ (391,656)	$ 845	$ (41)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(14,626)				(14,626)
Other comprehensive income (loss)	(77)						(77)
Stock options exercised (in shares)			21,556
Stock options exercised	113			113
Stock-based compensation	3,548			3,548
Vested restricted stock units (in shares)			42,125
Common stock withheld for tax obligation and net settlement (in shares)			(3,611)
Common stock withheld for tax obligation and net settlement	(20)			(20)
Ending balance (in shares) at Mar. 31, 2022			91,572,210
Ending balance at Mar. 31, 2022	168,889		$ 9	574,435	(405,437)		(118)
Beginning balance at Dec. 31, 2021	179,106	$ 845	$ 9	570,794	(391,656)	$ 845	(41)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(36,427)
Other comprehensive income (loss)	(42)
Ending balance (in shares) at Sep. 30, 2022			92,590,227
Ending balance at Sep. 30, 2022	155,085		$ 9	582,396	(427,237)		(83)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			91,572,210
Beginning balance at Mar. 31, 2022	168,889		$ 9	574,435	(405,437)		(118)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(10,012)				(10,012)
Other comprehensive income (loss)	(2)						(2)
Stock options exercised (in shares)			22,000
Stock options exercised	9			9
Stock-based compensation	3,912			3,912
Vested restricted stock units (in shares)			761,394
Shares issued under employee stock purchase plan (in shares)			58,111
Shares issued under employee stock purchase plan	157			157
Common stock withheld for tax obligation and net settlement (in shares)			(4,439)
Common stock withheld for tax obligation and net settlement	(17)			(17)
Ending balance (in shares) at Jun. 30, 2022			92,409,276
Ending balance at Jun. 30, 2022	162,936		$ 9	578,496	(415,449)		(120)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			92,409,276
Net loss	(11,788)				(11,788)
Other comprehensive income (loss)	37						37
Stock-based compensation	3,900			3,900
Vested restricted stock units (in shares)			180,951
Ending balance (in shares) at Sep. 30, 2022			92,590,227
Ending balance at Sep. 30, 2022	155,085		$ 9	582,396	(427,237)		(83)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			92,590,227
Beginning balance (in shares)			92,907,351
Beginning balance at Dec. 31, 2022	146,360		$ 9	586,213	(439,830)		(32)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(18,867)				(18,867)
Other comprehensive income (loss)	19						19
Stock-based compensation	3,772			3,772
Vested restricted stock units (in shares)			549,484
Ending balance (in shares) at Mar. 31, 2023			93,456,835
Ending balance at Mar. 31, 2023	131,284		$ 9	589,985	(458,697)		(13)
Beginning balance at Dec. 31, 2022	146,360		$ 9	586,213	(439,830)		(32)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(40,381)
Other comprehensive income (loss)	$ 33
Stock options exercised (in shares)	2,300
Ending balance (in shares) at Sep. 30, 2023			95,562,477
Ending balance at Sep. 30, 2023	$ 120,009		$ 9	600,211	(480,211)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			93,456,835
Beginning balance at Mar. 31, 2023	131,284		$ 9	589,985	(458,697)		(13)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(13,416)				(13,416)
Other comprehensive income (loss)	13						13
Stock options exercised (in shares)			2,300
Stock options exercised	4			4
Stock-based compensation	6,413			6,413
Vested restricted stock units (in shares)			1,532,507
Shares issued under employee stock purchase plan (in shares)			68,884
Shares issued under employee stock purchase plan	102			102
Ending balance (in shares) at Jun. 30, 2023			95,060,526
Ending balance at Jun. 30, 2023	124,400		$ 9	596,504	(472,113)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			95,060,526
Net loss	(8,098)				(8,098)
Other comprehensive income (loss)	0
Stock-based compensation	3,707			3,707
Vested restricted stock units (in shares)			501,951
Vested restricted stock	0
Ending balance (in shares) at Sep. 30, 2023			95,562,477
Ending balance at Sep. 30, 2023	$ 120,009		$ 9	$ 600,211	$ (480,211)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			95,562,477

Restructuring

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring

Transformation Initiative

In the first quarter of 2023, the Company began executing a broad-based Transformation Initiative designed to build the Honest brand and drive growth in higher-margin areas of the portfolio, strengthen the Company’s cost structure, drive focus on the most productive areas of our business, deliver greater impact from brand-building investments, and improve executional excellence across the enterprise.

Restructuring costs are one of the elements of the Transformation Initiative and are included in restructuring on the condensed consolidated statements of comprehensive loss:

•Employee-Related Costs – Employee-related costs are primarily comprised of severance and other post-employment benefit costs, calculated based on salary levels, prior service and other statutory minimum benefits, if applicable.

•Asset-Related Costs – Asset-related costs consist of accelerated amortization related to visual merchandise in an international retail store taken out of service prior to its existing useful life as a direct result of the restructuring initiatives, as well as asset impairments related to technology taken out of service.

•Contract Terminations – Costs related to contract terminations include continuing payments to a third party after the Company has ceased benefiting from the rights conveyed in the contract, or a payment made to terminate a contract prior to its expiration.

Other costs associated with the Transformation Initiative are comprised of the following:

•Sales Returns and Cost of Revenue – Product returns, chargebacks and markdowns are recorded as a reduction to revenue and inventory write-offs, write-downs or destruction costs as a direct result of the restructuring initiatives to exit certain products or geographic locations are recorded as a component of cost of revenue on the condensed consolidated statements of comprehensive loss when estimable and reasonably assured.

•Other Costs – The Company incurred other costs related to the restructuring initiatives, which are included in selling, general and administrative expense on the condensed consolidated statements of comprehensive loss and primarily include the following:

▪Donation expenses related to inventory reserves, including tariffs, and

▪Consulting and other professional services.

Costs associated with the Transformation Initiative for the three and nine months ended September 30, 2023 were as follows (in thousands):


	For the three months ended September 30, 2023		For the nine months ended September 30, 2023
Net Revenue(1)	$	(117)	$	339
Cost of Revenue	586		3,873
Restructuring Costs(2)	357		2,104
Other Costs(3)	1,365		4,207
Total	$	2,191	$	10,523

______________

(1) Relates to estimated product markdowns and true-up of prior quarter estimates.

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

(3) Refer to description above for types of operating expenses included in Other Costs.


	Restructuring Costs
	Employee-Related Costs		Asset-Related Costs		Contract Terminations		Total
Three months ended September 30, 2023	$	285	$	72	$	—	$	357
Cumulative through September 30, 2023	$	1,041	$	193	$	870	$	2,104

Changes in accrued expenses as of September 30, 2023 relating to the Transformation Initiative were:


	Restructuring Costs
	Employee-Related Costs(1)		Asset-Related Costs		Contract Terminations		Inventory Reserves		Total
Balance at December 31, 2022	$	—	$	—	$	—	$	—	$	—
Charges (adjustments)	1,041		—		479		5,198		6,718
Cash payments	(661)		—		(116)		—		(777)
Non-cash asset write-offs	—		—		—		(1,788)		(1,788)
Balance at September 30, 2023	$	380	$	—	$	363	$	3,410	$	4,153

___________

(1) Included in accrued expenses as of September 30, 2023. Refer to Note 7, "Accrued Expenses" included elsewhere in these condensed consolidated financial statements.

The Company records costs associated with the restructuring initiatives once the relevant accounting criteria have been met. Accrued restructuring costs of $0.4 million related to severance costs and contract terminations as of September 30, 2023 are expected to result in cash expenditures funded from cash provided by operations in future periods and is included in accrued expenses on the condensed consolidated balance sheets.

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Uncertain tax positions	$ 0	$ 0	$ 0	$ 0
Interest and penalties expense	$ 0	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2023
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, 2022. 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, 2022 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 The Company incurs restructuring costs in connection with the exiting of certain products and geographical locations, workforce reductions, and other actions. Such costs include employee termination benefits (one-time arrangements), termination of contractual obligations, non-cash asset charges, including asset impairments, and other direct incremental costs. The Company records employee termination liabilities once they are both probable and estimable for severance provided under the Company’s existing severance policy. Other costs associated with a restructuring initiative, such as consulting and professional fees, product or geographical exit costs, accelerated amortization associated with a restructuring initiative, are recognized in the period in which the liability is incurred. Accrued restructuring costs are recorded within Accrued Expenses in the condensed consolidated balance sheets.
Segment Reporting and Geographic Information	Segment Reporting and Geographic InformationThe Company’s Chief Executive Officer, as the chief operating decision maker, organizes the Company, manages resource allocations, and measures performance on the basis of one operating segment. 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 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, incremental borrowing rates associated with leases, valuation allowances with respect to deferred tax assets, accruals and contingencies, recoverability of non-cash marketing credits, recoverability of goodwill and long-lived assets, 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 September 30, 2023 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. For example, based on macro trends within our Household and Wellness product category, consumer demand for sanitizing and disinfecting products decreased over the past few years. As a result, the Company made a decision to exit certain elements of these products during the quarter ended March 31, 2023. Refer to Note 14, "Restructuring" included in these condensed consolidated financial statements for more information on the Company's restructuring initiatives.
Cash and Cash Equivalents	Cash and Cash EquivalentsCash 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 ReceivableAccounts receivable is presented as net of allowance for credit losses. The Company does not accrue interest on its trade receivables. On a periodic basis, the Company evaluates accounts receivable estimated to be uncollectible, and provides an allowance for credit losses, as necessary. The Company considers factors in its allowance for accounts receivable such as historical analysis, credit quality of customers, the age of the accounts receivable balances and current macroeconomic conditions that may impact on our customer's ability to pay.
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 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 Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2016-13, Financial Instruments Credit Losses (Accounting Standard Codification 326): Measurement of Credit Losses on Financial Instruments, to amend the accounting for credit losses for certain financial instruments. This guidance replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses. In November 2019, FASB issued ASU No. 2019-10 which delayed the effective dates of the guidance. This guidance is effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies (“SRC”) for fiscal years beginning after December 15, 2019 and all other entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Effective January 1, 2023, the Company adopted this standard, which did not have a material impact on the Company’s consolidated financial statements.

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Lease, Cost

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


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Finance lease expense:
Amortization	$	12	$	62	$	42	$	241
Interest on lease liabilities	—		1		—		7
Operating lease expense:
Operating lease expense(1)	1,792		1,795		5,376		5,362
Sublease income	(501)		(501)		(1,503)		(1,504)
Total lease expense, net	$	1,303	$	1,357	$	3,915	$	4,106

______________________

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

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

September 30, 2023

Finance lease assets

Property and equipment, net

Operating lease assets

Operating lease right-of-use asset

25,266

Total lease assets

25,294

Liabilities

Current

Finance lease liabilities

Accrued expenses

Operating lease liabilities

Accrued expenses

7,999

Non-current

Finance lease liabilities

Other long-term liabilities

Operating lease liabilities

Operating lease liabilities, net of current portion

23,791

Total lease liabilities

31,825

Supplemental information related to the Company’s leases for the nine months ended September 30, 2023 was as follows:


Weighted-average remaining lease term (in years)
Finance leases	0.9
Operating leases	3.8
Weighted-average discount rate
Finance leases	3.00		%
Operating leases	2.29		%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows used in finance leases	$	1
Operating cash flows used in operating leases	$	5,740
Finance cash flows used in finance leases	$	46

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In April 2020, the Company engaged Summit House Studios LLC, a third-party consultant, to provide digital ad production services. Summit House Studios LLC is owned by a major shareholder of the Company. Based on services provided, the Company incurred immaterial advertising costs for this related party during the three and nine months ended September 30, 2023 and 2022, which was reported as marketing expense in the Company’s condensed consolidated statements of comprehensive loss.In May 2022, the Company engaged Vault Co., a third-party consultant, to develop and deliver an ongoing brand tracker for the Company. Vault Co. is owned by a major shareholder of the Company. Based on services provided, the Company incurred immaterial advertising costs for this related party during the three and nine months ended September 30, 2023 and 2022, which is reported as marketing expense in the Company’s consolidated statements of comprehensive loss.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]

- Definition

Indicates amendment to accounting standards.

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+ Details

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

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, 2022	14,888,007	$	5.24
Granted	—	$	—
Exercised	(2,300)	$	1.70
Forfeited/Cancelled	(1,550,149)	$	5.16
Outstanding at September 30, 2023	13,335,558	$	5.25

Schedule of Restricted Stock Unit Activity

The following table summarizes the RSU activity:


	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, 2022	452,951	4,165,403	$	3.44	$	8.09
Transfer from Employee to Non-Employee Director(1)	1,147,566	(1,147,566)	$	9.02	$	9.02
Granted	882,862	6,295,701	$	1.74	$	1.82
Vested(2)	(1,358,421)	(1,225,521)	$	5.89	$	6.35
Forfeited	(388,147)	(1,430,377)	$	10.51	$	5.62
Unvested RSUs at September 30, 2023	736,811	6,657,640	$	1.85	$	2.85

_____________

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:


			For the nine months ended September 30, 2023
Expected life of options (in years)			0.50
Expected stock price volatility			86.19%
Risk free interest rate			5.36%
Expected dividend yield			—%
Weighted average grant-date fair value per share			$0.67

Stock-based Compensation Expense

Stock-based compensation expense related to RSU awards, 2021 ESPP purchases and stock options, as applicable, are as follows:


	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
(In thousands)
Selling, general and administrative(1)	$	3,608	$	3,852	$	13,648	$	10,929
Research and development	99		48		244		431
Total stock-based compensation expense	$	3,707	$	3,900	$	13,892	$	11,360

__________________

Stock-Based Compensation - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Options	9 Months Ended
	Sep. 30, 2023 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	6 months
Expected stock price volatility	86.19%
Risk free interest rate	5.36%
Expected dividend yield	0.00%
Weighted average grant-date fair value per share (in dollars per share)	$ 0.67

- 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)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Loss Per Share, Basic and Diluted

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


	For the three months ended September 30,				For the nine months ended September 30,
(In thousands, except for share and per share values)	2023		2022		2023		2022
Numerator:
Net loss	$	(8,098)	$	(11,788)	$	(40,381)	$	(36,427)
Net loss attributable to common stockholders - basic and diluted	$	(8,098)	$	(11,788)	$	(40,381)	$	(36,427)



Denominator:
Weighted average shares of common stock outstanding - basic	95,179,604		92,460,987		94,137,244		92,020,423

Weighted average shares of common stock outstanding - diluted	95,179,604		92,460,987		94,137,244		92,020,423

Net loss per share, attributable to common shareholders:
Basic and diluted	$	(0.09)	$	(0.13)	$	(0.43)	$	(0.40)

Schedule of Potentially Dilutive Shares

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


	For the three months ended September 30,		For the nine months ended September 30,
	2023	2022	2023	2022

Stock options to purchase common stock	13,335,558	15,015,298	13,335,558	15,015,298
Unvested restricted stock units	7,394,451	4,835,801	7,394,451	4,835,801
Employee stock purchase plan	68,962	68,497	68,962	68,497
Total	20,798,971	19,919,596	20,798,971	19,919,596

Leases - Summary of Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Assets
Finance lease, right-of-use asset, statement of financial position	Property and equipment, net
Finance lease assets	$ 28
Operating lease assets	25,266		$ 29,947
Total lease assets	$ 25,294
Current
Finance lease, liability, current, statement of financial position	Accrued Liabilities, Current
Finance lease liabilities	$ 32
Operating lease, liability, current, statement of financial position	Accrued Liabilities, Current
Operating lease liabilities	$ 7,999		7,688
Non-current
Finance lease, liability, noncurrent, statement of financial position	Other long-term liabilities
Finance lease liabilities	$ 3
Operating lease liabilities	23,791		$ 29,842
Total lease liabilities	$ 31,825
Weighted-average remaining lease term (in years)
Finance leases	10 months 24 days
Operating leases	3 years 9 months 18 days
Weighted-average discount rate
Finance leases	3.00%
Operating leases	2.29%
Cash paid for amounts included in the measurement of lease liabilities (in thousands)
Operating cash flows used in finance leases	$ 1
Operating cash flows used in operating leases	5,740
Finance cash flows used in finance leases	$ 46	$ 281

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 0	$ 5,650
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		3,193
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		582
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		1,875
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,517	9,595
Short-term investments		5,650
Total		15,245
Fair Value, Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		3,193
Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		582
Fair Value, Recurring \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		1,875
Fair Value, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,517	9,595
Fair Value, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,517	9,595
Short-term investments		0
Total		9,595
Fair Value, Recurring \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Fair Value, Recurring \| Level 1 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Fair Value, Recurring \| Level 1 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Fair Value, Recurring \| Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	5,517	9,595
Fair Value, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments		5,650
Total		5,650
Fair Value, Recurring \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		3,193
Fair Value, Recurring \| Level 2 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		582
Fair Value, Recurring \| Level 2 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		1,875
Fair Value, Recurring \| Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Short-term investments		0
Total		0
Fair Value, Recurring \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Fair Value, Recurring \| Level 3 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Fair Value, Recurring \| Level 3 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		0
Fair Value, Recurring \| Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Restructuring - Schedule of Costs Associated with the Transformation Initiative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 357	$ 0	$ 2,104	$ 0
Transformation Initiative
Restructuring Cost and Reserve [Line Items]
Restructuring	2,191		10,523
Transformation Initiative \| Net Revenue
Restructuring Cost and Reserve [Line Items]
Restructuring	(117)		339
Transformation Initiative \| Cost of Revenue
Restructuring Cost and Reserve [Line Items]
Restructuring	586		3,873
Transformation Initiative \| Restructuring Costs
Restructuring Cost and Reserve [Line Items]
Restructuring	357		2,104
Transformation Initiative \| Restructuring Costs \| Employee-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring	285		1,041
Transformation Initiative \| Restructuring Costs \| Asset-Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring	72		193
Transformation Initiative \| Restructuring Costs \| Contract Terminations
Restructuring Cost and Reserve [Line Items]
Restructuring	0		870
Transformation Initiative \| Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 1,365		$ 4,207

Stock-Based Compensation - 2021 Employee Stock Purchase Plan (Details) - shares	1 Months Ended	3 Months Ended	9 Months Ended
	Apr. 30, 2021	Sep. 30, 2023	Sep. 30, 2023	Jan. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Offering period	6 months
Employee stock purchase plan \| 2021 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock authorized to be issued (in shares)	1,175,000			928,256
Period to increase available shares for issuance	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%
Shares issued through ESPP (in shares)		68,962	68,962
Number of shares available for purchase (in shares)		2,814,479	2,814,479

Investments (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Investments

The following table summarizes the Company’s available-for-sale investments:


	As of December 31, 2022
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value
(In thousands)
Corporate bonds	$	3,216	$	—	$	(24)	$	3,193
Commercial paper	582		—		—		582
Certificates of deposit	1,884		—		(9)		1,875

Total investments	$	5,682	$	—	$	(33)	$	5,650

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Stock-Based Compensation - 2023 Inducement Plan (Details)	Mar. 31, 2023 shares
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

- 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

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 86,169	$ 84,580	$ 254,101	$ 231,792
Cost of revenue	58,964	58,963	183,796	161,984
Gross profit	27,205	25,617	70,305	69,808
Operating expenses
Selling, general and administrative	24,146	23,491	74,995	63,068
Marketing	9,110	12,140	28,605	38,121
Restructuring	357	0	2,104	0
Research and development	1,584	1,725	4,638	5,643
Total operating expenses	35,197	37,356	110,342	106,832
Operating loss	(7,992)	(11,739)	(40,037)	(37,024)
Interest and other income (expense), net	(71)	(29)	(269)	657
Loss before provision for income taxes	(8,063)	(11,768)	(40,306)	(36,367)
Income tax provision	35	20	75	60
Net loss	$ (8,098)	$ (11,788)	$ (40,381)	$ (36,427)
Net loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.09)	$ (0.13)	$ (0.43)	$ (0.40)
Diluted (in dollars per share)	$ (0.09)	$ (0.13)	$ (0.43)	$ (0.40)
Weighted-average shares used in computing net loss per share attributable to common stockholders:
Basic (in shares)	95,179,604	92,460,987	94,137,244	92,020,423
Diluted (in shares)	95,179,604	92,460,987	94,137,244	92,020,423
Other comprehensive income (loss)
Unrealized gain (loss) on short-term investments, net of taxes	$ 0	$ 37	$ 33	$ (42)
Comprehensive loss	$ (8,098)	$ (11,751)	$ (40,348)	$ (36,469)

Stock-Based Compensation - 2021 Equity Incentive Plan (Details) - 2021 Equity Incentive Plan - shares	1 Months Ended
	Apr. 30, 2021	Jan. 01, 2023
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	10 years
Percentage of total number of shares outstanding	4.00%
Number of common stock authorized to be issued (in shares)		3,713,026
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

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
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. Legal costs are expensed as incurred. On September 23, 2020, the Center for Advanced Public Awareness (“CAPA”) served a 60-Day Notice of Violation on the Company, alleging that the Company violated California’s Health and Safety Code (“Prop 65”) because of the amount of lead in the Company’s Diaper Rash Cream and seeking statutory penalties and product warnings available under Prop 65. On October 22, 2021, CAPA filed a complaint in California Superior Court in the County of San Francisco (the “Court”) for the alleged Prop 65 violations contained in its 60-Day Notice of Violation. The Company filed its answer and notice of related cases against Prestige Consumer Healthcare, Inc., Burt's Bees, Inc., and Hain Celestial Group, Inc. on January 7, 2022 and has stipulated to relate these cases and transfer them to the Court's Complex Division. The Company intends to vigorously defend itself in this matter. The matter’s outcome and materiality are uncertain at this time. Therefore, the Company cannot estimate the probability of loss or make an estimate of the loss or range of loss in this matter. On September 15, 2021, Cody Dixon filed a putative class action complaint in the U.S. District Court for the Central District of California alleging federal securities law violations by the Company, certain current officers and directors, and certain underwriters in connection with the Company’s IPO. A second putative class action complaint containing similar allegations against the Company and certain current officers and directors was filed by Stephen Gambino on October 8, 2021 in the U.S. District Court for the Central District of California. These related complaints have been transferred to the same court and a Lead Plaintiff has been appointed in the matter, and a putative consolidated class action complaint was filed by the Lead Plaintiff on February 21, 2022. Defendants’ motion to dismiss the putative consolidated class action complaint was filed on March 14, 2022. On July 18, 2022, the Company's motion to dismiss was granted in part and denied in part. On May 1, 2023, the Lead Plaintiff’s motion for class certification in the consolidated class action was granted in part and denied in part, with the U.S. District Court for the Central District of California limiting the certified class to only those persons and entities that purchased or otherwise acquired the Company’s publicly traded common stock pursuant and traceable to the Company’s IPO offering documents prior to August 19, 2021, as well as all persons and entities that acquired ownership of a trading account, retirement account, or any other similar investment account or portfolio containing the Company’s publicly traded common stock that was purchased or otherwise acquired pursuant and traceable to the IPO offering documents prior to August 19, 2021, and were damaged thereby. On August 14, 2023 the Lead Plaintiff filed an amended consolidated class action complaint naming as additional defendants Catterton Management Company L.L.C., L Catterton VIII, L.P., L. Catterton VIII Offshore, L.P., THC Shared Abacus, LP, Catterton Managing Partner VIII, L.L.C., and C8 Management, L.L.C. On October 16, 2023 those additional defendants filed a motion to dismiss the Second Amended Complaint with respect to the claims against them, and that motion is scheduled for a hearing on December 18, 2023. A derivative complaint was filed by Hayato Ono on behalf of the Company on November 29, 2021 in the U.S. District Court for the 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. 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 U.S. District Court for the Central District of California. These two federal derivative cases have been transferred to the same judge who is presiding over the securities class action complaints. 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 pending the outcome of a motion for summary judgment in the securities class action. These matters are in the preliminary stages of litigation with uncertain outcomes at this time. Therefore, the Company cannot estimate the probability of loss or make an estimate of the loss or range of loss in these matters. On August 10, 2022, Catrice Sida and Kris Yerby filed a putative class action complaint in the U.S. District Court for the Northern District of California alleging violations of California’s Unfair Competition Law, False Advertising Law, Consumers Legal Remedies Act, breach of warranty, and unjust enrichment related to plant-based claims on certain of the Company’s wipes products and seeking declaratory relief, injunctive relief, monetary damages, punitive damages and statutory penalties, and attorneys’ fees and costs. The Company filed its motion to dismiss on October 17, 2022. On December 6, 2022, the Company's motion to dismiss was denied. The Company’s motion to stay pending the Ninth Circuit Court of Appeals’ review of the Central District of California’s decision in Whiteside v. Kimberly-Clark Corp., No. 5:22-cv-1988 JGB (SPx), 2023 WL 4328175 (C.D. Cal. June 1, 2023) was denied on September 5, 2023. The Company believes this complaint is without merit and intends to vigorously defend itself in this matter. The matter is in the preliminary stages of litigation and its outcome is uncertain at this time. Therefore, the Company cannot estimate the probability of loss or make an estimate of the range of loss in this matter. As of September 30, 2023 and December 31, 2022, 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. 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 September 30, 2023 and December 31, 2022, 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.

Investments - Available-for-Sale Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost		$ 5,682
Gross Unrealized Gains		0
Gross Unrealized Losses		(33)
Total Estimated Fair Value	$ 0	5,650
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost		3,216
Gross Unrealized Gains		0
Gross Unrealized Losses		(24)
Total Estimated Fair Value		3,193
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost		582
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Total Estimated Fair Value		582
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost		1,884
Gross Unrealized Gains		0
Gross Unrealized Losses		(9)
Total Estimated Fair Value		$ 1,875

- 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 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Leases - Summary of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Amortization	$ 12	$ 62	$ 42	$ 241
Interest on lease liabilities	0	1	0	7
Operating lease expense	1,792	1,795	5,376	5,362
Sublease income	(501)	(501)	(1,503)	(1,504)
Total lease expense, net	$ 1,303	$ 1,357	$ 3,915	$ 4,106