The Honest Company, Inc. (HNST) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 10, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	Non-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		92,416,444
Entity Central Index Key	0001530979
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 40,348	$ 50,791
Short-term investments	26,506	42,388
Accounts receivable, net	37,074	31,784
Inventories	88,350	75,668
Prepaid expenses and other current assets	13,580	13,165
Total current assets	205,858	213,796
Operating lease right-of-use asset	33,015
Property and equipment, net	14,957
Property and equipment, net		52,952
Goodwill	2,230	2,230
Intangible assets, net	405	440
Other assets	3,110	3,179
Total assets	259,575	272,597
Current liabilities
Accounts payable	36,241	28,743
Accrued expenses	25,855	19,003
Deferred revenue	775	731
Total current liabilities	62,871	48,477
Long term liabilities
Lease financing obligation, net of current portion		37,527
Operating lease liabilities, net of current portion	33,723
Other long-term liabilities	45	7,487
Total liabilities	96,639	93,491
Commitments and contingencies
Stockholders’ equity (deficit)
Preferred stock, $0.0001 par value, 20,000,000 shares authorized at June 30, 2022 and December 31, 2021, none issued or outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock, $0.0001 par value, 1,000,000,000 and 150,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively; 92,409,276 and 91,512,140 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	9	9
Additional paid-in capital	578,496	570,794
Accumulated deficit	(415,449)	(391,656)
Accumulated other comprehensive loss	(120)	(41)
Total stockholders’ equity	162,936	179,106
Total liabilities and stockholders’ equity	$ 259,575	$ 272,597

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in USD 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 USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,000,000,000	150,000,000
Common stock issued (in shares)	92,409,276	91,512,140
Common stock outstanding (in shares)	92,409,276	91,512,140

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 78,493	$ 74,576	$ 147,212	$ 155,607
Cost of revenue	54,929	47,633	103,021	100,284
Gross profit	23,564	26,943	44,191	55,323
Operating expenses
Selling, general and administrative	19,965	30,091	39,576	46,788
Marketing	12,515	14,009	25,981	28,182
Research and development	1,823	2,345	3,919	3,991
Total operating expenses	34,303	46,445	69,476	78,961
Operating loss	(10,739)	(19,502)	(25,285)	(23,638)
Interest and other income (expense), net	747	(510)	686	(836)
Loss before provision for income taxes	(9,992)	(20,012)	(24,599)	(24,474)
Income tax provision	20	22	40	44
Net loss	$ (10,012)	$ (20,034)	$ (24,639)	$ (24,518)
Net loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.11)	$ (0.17)	$ (0.27)	$ (0.32)
Diluted (in dollars per share)	$ (0.11)	$ (0.17)	$ (0.27)	$ (0.32)
Weighted-average shares used in computing net loss per share attributable to common stockholders:
Basic (in shares)	92,052,347	68,079,387	91,796,489	51,184,615
Diluted (in shares)	92,052,347	68,079,387	91,796,489	51,184,615
Other comprehensive income (loss)
Unrealized loss on short-term investments, net of taxes	$ (2)	$ (24)	$ (79)	$ (106)
Comprehensive loss	$ (10,014)	$ (20,058)	$ (24,718)	$ (24,624)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands	Total	Impact due to Adoption of ASC 842	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Deficit Impact due to Adoption of ASC 842	Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			34,089,186
Beginning balance (in shares) at Dec. 31, 2020	49,100,928
Beginning balance at Dec. 31, 2020	$ 376,404
Ending balance (in shares) at Mar. 31, 2021	49,100,928
Ending balance at Mar. 31, 2021	$ 376,404
Beginning balance at Dec. 31, 2020	(236,825)		$ 3	$ 116,055	$ (352,977)		$ 94
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(4,484)				(4,484)
Other comprehensive loss	(82)						(82)
Stock options exercised (in shares)			38,188
Stock options exercised	33			33
Stock-based compensation	1,838			1,838
Ending balance (in shares) at Mar. 31, 2021			34,127,374
Ending balance at Mar. 31, 2021	$ (239,520)		$ 3	117,926	(357,461)		12
Beginning balance (in shares) at Dec. 31, 2020	49,100,928
Beginning balance at Dec. 31, 2020	$ 376,404
Ending balance (in shares) at Jun. 30, 2021	0
Ending balance at Jun. 30, 2021	$ 0
Beginning balance at Dec. 31, 2020	(236,825)		$ 3	116,055	(352,977)		94
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(24,518)
Other comprehensive loss	(106)
Ending balance (in shares) at Jun. 30, 2021			90,288,407
Ending balance at Jun. 30, 2021	$ 179,787		$ 9	557,285	(377,495)		(12)
Beginning balance (in shares) at Dec. 31, 2020	49,100,928
Beginning balance at Dec. 31, 2020	$ 376,404
Beginning balance at Dec. 31, 2020	(236,825)		$ 3	116,055	(352,977)		94
Ending balance (in shares) at Dec. 31, 2021			91,512,140
Ending balance at Dec. 31, 2021	$ 179,106	$ 845	$ 9	570,794	(391,656)	$ 845	(41)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update	Accounting Standards Update 2016-02
Beginning balance (in shares)			34,127,374
Beginning balance (in shares) at Mar. 31, 2021	49,100,928
Beginning balance at Mar. 31, 2021	$ 376,404
Ending balance (in shares) at Jun. 30, 2021	0
Ending balance at Jun. 30, 2021	$ 0
Beginning balance at Mar. 31, 2021	(239,520)		$ 3	117,926	(357,461)		12
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,034)				(20,034)
Other comprehensive loss	(24)						(24)
Stock options exercised (in shares)			53,694
Stock options exercised	295			295
Dividends paid	(35,000)			(35,000)
Issuance of common stock pursuant to initial public offering, net of underwriting commissions and discounts and offering costs of $12.2 million (in shares)			6,451,613
Issuance of common stock pursuant to initial public offering, net of underwriting commissions and discounts and offering costs of $12.2 million	$ 91,039		$ 1	91,038
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)	(49,100,928)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	$ (376,404)
Number of common stock issued from conversion (in shares)			49,649,023
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	376,405		$ 5	376,400
Vested restricted stock units (in shares)			6,703
Stock-based compensation	6,626			6,626
Ending balance (in shares) at Jun. 30, 2021			90,288,407
Ending balance at Jun. 30, 2021	179,787		$ 9	557,285	(377,495)		(12)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			90,288,407
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 loss	(77)						(77)
Stock options exercised (in shares)			21,556
Stock options exercised	113			113
Vested restricted stock units (in shares)			42,125
Stock-based compensation	3,548			3,548
Stock withheld related to tax obligation and net share settlement (in shares)			(3,611)
Stock withheld related to tax obligation and net share 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	(24,639)
Other comprehensive loss	$ (79)
Stock options exercised (in shares)	43,556
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)			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 loss	(2)						(2)
Stock options exercised (in shares)			22,000
Stock options exercised	9			9
Vested restricted stock units (in shares)			761,394
Stock-based compensation	3,912			3,912
Stock withheld related to tax obligation and net share settlement (in shares)			(4,439)
Stock withheld related to tax obligation and net share settlement	(17)			(17)
Shares issued under employee stock purchase plan (in shares)			58,111
Shares issued under employee stock purchase plan	157			157
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

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) (Parenthetical) $ in Millions	3 Months Ended
	Jun. 30, 2021 $ / shares
Statement of Stockholders' Equity [Abstract]
Dividends paid (in USD per share)	$ 0.42

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (24,639)	$ (24,518)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,386	2,117
Stock-based compensation	7,460	8,464
Other	3,253	93
Changes in assets and liabilities:
Accounts receivable, net	(5,289)	(4,601)
Inventories	(12,682)	(5,744)
Prepaid expenses and other assets	(450)	(4,507)
Accounts payable, accrued expenses and other long-term liabilities	8,844	(3,969)
Deferred revenue	44	58
Operating lease liabilities	(3,329)
Net cash used in operating activities	(25,402)	(32,607)
Cash flows from investing activities
Purchases of short-term investments	(11,294)	(54,009)
Proceeds from sales of short-term investments	0	25,362
Proceeds from maturities of short-term investments	26,957	9,207
Purchases of property and equipment	(743)	(100)
Net cash provided by (used in) investing activities	14,920	(19,540)
Cash flows from financing activities
Proceeds from initial public offering, net of underwriting commissions and discounts	0	96,517
Taxes paid related to net share settlement of equity awards	(37)	0
Dividends paid	0	(35,000)
Proceeds from exercise of stock options	122	328
Payment of initial public offering costs	0	(4,892)
Proceeds from 2021 ESPP	157	0
Payments on finance lease liabilities	(203)
Payments on finance lease liabilities		(568)
Net cash provided by financing activities	39	56,385
Net (decrease) increase in cash and cash equivalents	(10,443)	4,238
Cash and cash equivalents
Beginning of the period	50,791	37,200
End of the period	40,348	41,438
Reconciliation of cash and cash equivalents to the consolidated balance sheets
Cash and cash equivalents	40,348	41,438
Supplemental disclosures of noncash activities
Equipment acquired under capital lease obligations		95
Deferred IPO costs included in accounts payable and accrued expenses	0	585
Capital expenditures included in accounts payable and accrued expenses	$ 226	$ 9

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business The Honest Company, Inc. (the “Company”) was incorporated in the State of California on July 19, 2011 and on May 23, 2012 was re-incorporated in the State of Delaware under the same name. The Company is a mission-driven lifestyle brand that formulates, designs and sells clean products with a focus on sustainability and thoughtful design. 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. Initial Public Offering The Company’s registration statement on Form S-1 (“IPO Registration Statement”) related to its initial public offering (“IPO”) was declared effective on May 4, 2021, and the Company’s common stock began trading on the Nasdaq Global Select Market on May 5, 2021. On May 7, 2021, the Company completed its IPO of 25,807,000 shares of the Company's common stock, $0.0001 par value per share at an offering price of $16.00 per share. The Company sold 6,451,613 shares and certain existing stockholders sold an aggregate of 19,355,387 shares. The Company received aggregate net proceeds of approximately $91.0 million after deducting underwriting discounts and commissions of $6.7 million and other offering expenses of $5.5 million. The Company granted the underwriters an option for a period of 30 days to purchase up to an additional 3,871,050 shares of common stock from the selling stockholders at $16.00 per share less the underwriting discounts and commissions. In May 2021, the underwriters fully exercised the option to purchase these additional shares from the selling stockholders. The Company did not receive any proceeds from the sale of shares of its common stock by the selling stockholders. Upon completion of the IPO, the Company paid $9.5 million in cash bonuses to certain employees including members of management, as well as $0.2 million in related payroll taxes and expenses. Cash bonuses of $9.1 million were recorded in sales, general and administrative expenses and $0.4 million were recorded in research and development expenses in the accompanying condensed consolidated statements of comprehensive loss upon completion of the IPO. In April 2021, the Company’s board of directors declared a cash dividend of $35.0 million to the holders of record of its common stock and its redeemable convertible preferred stock as of May 3, 2021, which the Company paid on June 29, 2021.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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, 2021. 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, 2021 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. The Company had a change in accounting policy from those disclosed in the audited consolidated financial statements and related notes for the year ended December 31, 2021 related to the adoption of ASC 842 (defined below). Refer to “Recently Adopted Accounting Pronouncements” below and Note 13 included in these condensed consolidated financial statements for more information on leases. Stock Split In April 2021, the Company effected a 1-for-2 forward stock split of its common and redeemable convertible preferred stock. In connection with the forward stock split, each issued and outstanding share of common stock, automatically and without action on the part of the holders, became two shares of common stock and each issued and outstanding share of redeemable convertible preferred stock, automatically and without action on the part of the holders, became two shares of redeemable convertible preferred stock. The par value per share of common and redeemable convertible preferred stock was not adjusted. All share, per share and related information presented in the condensed consolidated financial statements and accompanying notes have been retroactively adjusted, where applicable, to reflect the impact of the stock split. 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 doubtful accounts, valuation of short-term investments, capitalized software, useful lives associated with long-lived assets, 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 and for the periods prior to the Company’s IPO, the fair value of common stock. 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. In March 2020, the World Health Organization declared the outbreak of the novel coronavirus disease (“COVID-19”) a pandemic. The full extent to which the outbreak of the COVID-19 pandemic and any COVID-19 variants will impact the Company’s business, results of operations and financial condition is still unknown and will depend on future developments, which are uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak of COVID-19 and its variants, their severity, the actions to contain the virus and its variants or treat their impact, and how quickly and to what extent normal economic and operating conditions can resume. In light of the unknown ultimate duration and severity of COVID-19 and the impact of any COVID-19 variants, the Company faces a greater degree of uncertainty than normal in making certain judgments and estimates needed to apply significant accounting policies. 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 June 30, 2022 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 has decelerated at a more rapid than expected rate as more consumers are vaccinated and retailers continue to manage heavy inventories of sanitization and disinfecting products in stores. The Company recorded an inventory write-down of $0.2 million and $0.8 million during the three and six months ended June 30, 2022, respectively, and $5.6 million for the year ended December 31, 2021 relating to certain sanitization and disinfecting products as the amount of inventory was significantly in excess of the decreasing demand. The Company will continue to monitor and evaluate the uncertainty and volatility of these conditions, in particular, the impact on the amount and valuation of the Company’s inventory in the future. 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 net of allowances. 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 allowances as necessary for doubtful accounts. The allowance for doubtful accounts was $0.1 million and $0.2 million, respectively, as of June 30, 2022 and December 31, 2021. Deferred IPO Costs Deferred offering costs consisted of costs incurred in connection with the sale of the Company’s common stock in its IPO, including certain legal, accounting, and other IPO-related expenses. Immediately upon the completion of the Company's IPO, deferred offering costs of $5.5 million were reclassified into stockholders’ equity from other assets as a reduction from the proceeds of the offering. 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 of 2012 (“JOBS 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 February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update ("ASU") No 2016-02, Leases (Topic 842), as subsequently amended, collectively codified under Topic 842. Topic 842 requires lessees to recognize on the balance sheet assets and liabilities for leases with lease terms of more than twelve months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike prior guidance which requires only capital leases to be recognized on the balance sheet, the new ASU requires both types of leases to be recognized on the balance sheet. ASU 2016-02 was effective for public business entities for fiscal years beginning after December 15, 2018. In June 2020, FASB issued ASU No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) – Effective Dates for Certain Entities , which extended the effective date of this guidance for certain non-public entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted this guidance on January 1, 2022 on a modified retrospective basis under ASU 2018-11. As such, prior periods were not respectively adjusted. The Company also elected the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company made an accounting policy election to not recognize lease assets and lease liabilities for leases in all asset classes with lease terms less than twelve months. The Company recognizes lease expense for such leases generally on a straight-line basis over the lease term. The Company also elected to combine lease and non-lease components on its leases into a single lease component. Upon adoption of this guidance on January 1, 2022, the Company recognized $36.1 million in right-of-use assets (“ROU”) and corresponding lease liabilities of $37.5 million, net of the current portion of lease liability of $7.0 million, on its condensed consolidated balance sheet. In addition, the Company recognized a decrease to assets and liabilities of $37.6 million and $38.4 million, respectively, and a decrease to the beginning accumulated deficit of $0.8 million, as a result of the derecognition of its build-to-suit arrangement that was reassessed to be an operating lease under the new guidance. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated statements of comprehensive loss or the condensed consolidated statements of cash flows. Refer to Note 13 included in these condensed consolidated financial statements for more information on leases. Recently Issued Accounting Pronouncements – Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments Credit Losses (Topic 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. The Company is evaluating the adoption of this guidance and the potential effects on the consolidated financial statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue Revenue by sales channel: For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 (In thousands) Digital $ 37,871 $ 34,820 $ 72,132 $ 77,281 Retail 40,622 39,756 75,080 78,326 Total revenue $ 78,493 $ 74,576 $ 147,212 $ 155,607 Revenue by product category: For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 (In thousands) Diapers and Wipes $ 51,901 $ 47,831 $ 95,190 $ 97,404 Skin and Personal Care 23,275 23,866 44,541 50,111 Household and Wellness 3,317 2,879 7,481 8,092 Total revenue $ 78,493 $ 74,576 $ 147,212 $ 155,607 Non-Monetary Transactions During the three and six months ended June 30, 2022, the Company entered into trade agreements with a vendor to exchange excess inventory for future marketing and transportation credits. The Company recognized revenue reflecting the fair value of the marketing and transportation credits, with the corresponding asset included in prepaid expenses and other current assets and other assets, respectively, in the accompanying condensed consolidated balance sheets. The Company may use the marketing and transportation credits over four years from the date of the respective agreement, with an option to extend for another two years if agreed upon by both parties. For the three and six months ended June 30, 2022, the Company recognized $0.5 million and $1.3 million, respectively, of revenue and $0.3 million and $0.8 million, respectively, of associated cost of revenue based on the timing of delivery of goods. For the three and six months ended June 30, 2021, the Company recognized $0.5 million and $3.9 million, respectively, of revenue and $0.3 million and $2.2 million, respectively, of associated cost of revenue based on the timing of delivery of goods. 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 six months ended June 30, 2022, the Company recorded no impairment losses related to these credits and used an aggregate of $0.5 million

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments As of June 30, 2022 and December 31, 2021, all investments in debt securities are classified as available-for-sale investments. All investments are reported within current assets because the securities represent investments of cash available for current operations. As of June 30, 2022 and December 31, 2021, the Company held $26.5 million and $36.4 million, respectively, of investments with contractual maturities of less than one year. As of June 30, 2022, the Company did not have any investments with contractual maturities between one and two years. As of December 31, 2021, the Company held $6.0 million of 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 June 30, 2022 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (In thousands) Corporate bonds $ 15,752 $ — $ (81) $ 15,671 Certificates of deposit 4,168 — (10) 4,158 U.S. government and agency securities 6,706 — (29) 6,677 Total investments $ 26,626 $ — $ (120) $ 26,506 As of December 31, 2021 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (In thousands) Corporate bonds $ 18,605 $ — $ (28) $ 18,577 Certificates of deposit 17,099 — (5) 17,095 U.S. government and agency securities 6,725 — (9) 6,716 Total investments $ 42,429 $ — $ (42) $ 42,388 Realized gains and losses on investments in debt securities were immaterial for the three and six months ended June 30, 2022 and 2021.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial assets measured and recorded at fair value on a recurring basis consist of the following as of: June 30, 2022 Level 1 Level 2 Level 3 Total (In thousands) Cash equivalents Money market funds $ 22,706 $ — $ — $ 22,706 Corporate bonds (1) — 2,588 — 2,588 Total cash equivalents 22,706 2,588 — 25,294 Short-term investments Corporate bonds — 15,671 — 15,671 Certificates of deposit — 4,158 — 4,158 U.S. government and agency securities — 6,677 — 6,677 Total short-term investments — 26,506 — 26,506 Total $ 22,706 $ 29,094 $ — $ 51,800 __________________ (1) Consists of short-term corporate bonds and certificates of deposit with stated maturities of three months or less. December 31, 2021 Level 1 Level 2 Level 3 Total (In thousands) Cash equivalents Money market funds $ 29,411 $ — $ — $ 29,411 Total cash equivalents 29,411 — — 29,411 Short-term investments Corporate bonds — 18,577 — 18,577 Certificates of deposit — 17,095 — 17,095 U.S. government and agency securities — 6,716 — 6,716 Total short-term investments — 42,388 — 42,388 Total $ 29,411 $ 42,388 $ — $ 71,799

Credit Facilities

Credit Facilities	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities In April 2021, the Company entered into a first lien credit agreement (“2021 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 2021 Credit Facility includes a subfacility that provides for the issuance of letters of credit in an amount of up to $10.0 million at any time outstanding, which reduces the amount available under the 2021 Credit Facility. As of June 30, 2022, there were outstanding standby letters of credit of $6.3 million related to lease obligations with $28.7 million available to be drawn upon. The 2021 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 revolving credit facility. The Company recognizes the commitment fee as incurred in interest and other expense, net in the condensed consolidated statements of comprehensive loss. For the three and six months ended June 30, 2022, the commitment fee incurred was immaterial. The interest rate applicable to the 2021 Credit Facility is, at the Company’s option, either (a) the LIBOR (or a replacement rate established in accordance with the terms of the 2021 Credit Facility) (subject to a 0.00% LIBOR floor), plus a margin of 1.50% or (b) the CB floating rate minus a margin of 0.50%. The CB floating rate is the higher of (a) the Wall Street Journal prime rate and (b)(i) 2.50% plus (ii) the adjusted LIBOR rate for a one-month interest period. As of June 30, 2022, there was no outstanding balance under the 2021 Credit Facility. The 2021 Credit Facility contains covenants that restrict, among other things, the Company's ability to sell assets, make investments and acquisitions, make capital expenditures, grant liens, pay dividends and make certain other restricted payments . The Company is also subject to certain affirmative and negative covenants including the requirement that it maintains a total net leverage ratio of not more than 3.50:1.00 during the periods set forth in the 2021 Credit Facility. Failure to do so, unless waived by the lenders under the 2021 Credit Facility pursuant to its terms, as amended, would result in an event of default under the 2021 Credit Facility. As of June 30, 2022, the Company was in compliance with the net leverage ratio covenant.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following as of: June 30, 2022 December 31, 2021 (In thousands) Payroll and payroll related expenses $ 2,581 $ 2,497 Accrued inventory purchases 9,278 8,838 Accrued returns 926 1,455 Accrued rent (1) 7,486 — Other accrued expenses 5,584 6,213 Total accrued expenses $ 25,855 $ 19,003 ____________________

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
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 17, 2019, the Nevada Department of Taxation (the “Department”) issued a Deficiency Notice against the Company to initiate administrative legal proceedings before the Department for the alleged non-compliance with employee retention requirements provided in exchange for tax benefits in establishing the Company’s Las Vegas distribution center in a December 2016 Abatement Agreement the Company had executed with the State of Nevada via its Governor’s Office of Economic Development. The Company has denied the allegations. An administrative hearing was held in the matter on January 15, 2021. On June 9, 2021 the court upheld the Department's Deficiency Notice against the Company in its entirety. The loss resulting from this matter was $0.7 million including penalties and interest, for which the Company has paid $0.6 million as of December 31, 2021. During the year ended December 31, 2021, the Company recorded interest expense of $0.1 million in interest and other income (expense), net on the condensed consolidated statements of comprehensive loss. The Company filed its Notice of Appeal on July 1, 2021 and its opening brief on January 28, 2022. The Department filed its answering brief on March 4, 2022 and the Company filed its reply brief on March 23, 2022. The Nevada Tax Commission heard the appeal on May 2, 2022. The Nevada Tax Commission upheld the Company's appeal and overturned the Department's Deficiency Notice. The Company intends to submit a refund request for the taxes and interest paid, following the Department's June 9, 2021 decision, that were subject to abatement under the December 2016 Abatement Agreement. The Company recognized $0.7 million in other income in interest and other income (expense), net on the condensed consolidated statements of comprehensive loss during the three months ended June 30, 2022 related to the anticipated refund of taxes and interest paid. 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. 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. The federal and state court derivative cases have been stayed pending the outcome of a motion to dismiss in the securities class action. Defendants’ motion to dismiss the putative consolidated class action complaint was filed on March 14, 2022. The Lead Plaintiff’s opposition to the motion to dismiss was filed on March 28, 2022, and defendants’ replies were filed on April 4, 2022. On July 18, 2022, the Company's motion to dismiss was granted in part and denied in part. On August 1, 2022, the Company filed a motion for partial reconsideration of that order. The Company believes the securities complaints are without merit and intends to vigorously defend itself against these allegations. These matters are in the preliminary stages of litigation with uncertain outcomes at this time. Therefore, the Company cannot estimate the probability of the loss or make an estimate of the loss or range of loss in these matters. As of June 30, 2022 and December 31, 2021, 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. Refer to Note 14 included in these condensed consolidated financial statements for more information on a litigation matter. 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 amount 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 amount of future payments the Company could be required to make under these indemnification provisions is indeterminable. The Company has never paid a material claim, nor has the Company been involved in litigation in connection with these indemnification arrangements. As of June 30, 2022 and December 31, 2021, 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.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options The following table summarizes the stock option activity: Number of Options Weighted Average Exercise Price Outstanding at December 31, 2021 16,440,539 $ 5.26 Granted — $ — Exercised (43,556) $ 2.81 Forfeited (392,896) $ 5.46 Outstanding at June 30, 2022 16,004,087 $ 5.26 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 will be 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. 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 Officers and Employees Non-Employee Directors Officers and Employees Unvested RSUs at December 31, 2021 103,561 2,867,306 $ 16.00 $ 13.58 Granted 485,806 2,655,953 $ 3.51 $ 5.36 Vested (1) (110,735) (692,784) $ 14.39 $ 13.70 Forfeited (4,641) (473,175) $ 8.09 $ 10.90 Unvested RSUs at June 30, 2022 473,991 4,357,300 $ 3.65 $ 8.84 __________________________ (1) Includes 4,439 shares of common stock that were withheld to cover taxes on the release of vested RSUs and became available for future grants pursuant to the 2021 Plan. As of June 30, 2022, there was $38.8 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted-average period of 3.1 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). 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. The first offering period under the 2021 ESPP commenced in May 2021 and the second offering in November 2021. For the three and six months ended June 30, 2022, 58,111 shares were purchased under the 2021 ESPP. As of June 30, 2022, the Company had 1,992,520 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 six months ended June 30, 2022 Expected life of options (in years) 0.50 Expected stock price volatility 73.27% Risk free interest rate 1.52% Expected dividend yield —% Weighted average grant-date fair value per share $1.12 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 June 30, For the six months ended June 30, 2022 2021 2022 2021 (In thousands) Selling, general and administrative $ 3,707 $ 6,194 $ 7,078 $ 7,942 Research and development 205 432 382 522 Total stock-based compensation expense $ 3,912 $ 6,626 $ 7,460 $ 8,464

Net Income (Loss) per Share Att

Net Income (Loss) per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) per Share Attributable to Common Stockholders	Net Income (Loss) per Share Attributable to Common Stockholders The 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 June 30, For the six months ended June 30, (In thousands, except for share and per share values) 2022 2021 2022 2021 Numerator: Net loss $ (10,012) $ (20,034) $ (24,639) $ (24,518) Add: gain on conversion of preferred stock (1) — 28,994 — 28,994 Less: dividends paid to preferred stockholders (2) — (20,637) — (20,637) Net loss attributable to common stockholders - basic and diluted $ (10,012) $ (11,677) $ (24,639) $ (16,161) Denominator: Weighted average shares of common stock outstanding - basic 92,052,347 68,079,387 91,796,489 51,184,615 Weighted average shares of common stock outstanding - diluted 92,052,347 68,079,387 91,796,489 51,184,615 Net loss per share, attributable to common shareholders: Basic and diluted $ (0.11) $ (0.17) $ (0.27) $ (0.32) _______________________ (1) The conversion price of the Company’s Series C and Series D redeemable convertible preferred stock was adjusted as the offering price in the initial public offering was below a certain threshold resulting in the preferred stockholders receiving a fixed dollar amount on conversion settled into a variable number of shares, or a stock-settled redemption feature. Upon the settlement of this redemption feature, the Company recorded a gain on extinguishment of the redeemable convertible preferred stock of $29.0 million as an adjustment to net loss to arrive at net loss attributable to common stockholders to calculate earnings per share. The extinguishment gain was measured as the difference between the carrying amount of the redeemable convertible preferred stock and the fair value of common stock upon the IPO date that the preferred stock converted into. (2) In April 2021, the Company's board of directors declared a cash dividend of $35.0 million to the holders of record of our common stock as of May 3, 2021, that was contingent upon the closing of the Company's IPO. On June 29, 2021, the Company paid the dividend, of which $20.6 million was paid to the holders of the Company's redeemable convertible preferred stock. 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 June 30, For the six months ended June 30, 2022 2021 2022 2021 Stock options to purchase common stock 16,004,087 17,676,563 16,004,087 17,676,563 Unvested restricted stock units 4,831,291 2,709,119 4,831,291 2,709,119 Employee stock purchase plan 68,497 30,789 68,497 30,789 Total 20,903,875 20,416,471 20,903,875 20,416,471

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
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. During the three and six months ended June 30, 2022 and 2021, the Company has not recorded any uncertain tax positions and has not recognized interest or penalties in the condensed consolidated statements of comprehensive loss.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
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 $0.2 million and $0.3 million, respectively, of advertising costs for this related party for the three and six months ended June 30, 2021, which is reported as marketing expense in the Company’s condensed consolidated statements of comprehensive loss. The Company incurred immaterial advertising costs for this related party for the three and six months ended June 30, 2022.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases, operating	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 Operating lease ROU assets and lease liabilities are recorded on the date the Company takes possession of the leased assets with expense recognized on a straight-line basis over the lease term. Leases with an estimated total term of 12 months or less are not recorded on the balance sheet and the lease expense is recognized on a straight-line basis over the lease term. Generally, the Company’s lease agreements do not contain material residual value guarantees or material restrictive covenants. As a result of the adoption of ASC 842, the following adjustments were made to the opening balances of the Company’s Condensed Consolidated Balance Sheet (in thousands): December 31, 2021 Impact due to Adoption of January 1, 2022 Assets Property and equipment, net (1) $ 52,952 $ (37,581) $ 15,371 Operating lease ROU (2) — 36,127 36,127 Liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) Accrued expenses (2) $ 19,003 $ 5,113 $ 24,116 Lease financing obligation, net of current portion (1) 37,527 (37,527) — Operating lease liabilities, net of current portion (2) — 37,531 37,531 Other long-term liabilities (3) 7,487 (7,415) 72 Accumulated equity (deficit) (4) (391,656) 845 (390,811) ___________________ (1) Represents the derecognition of non-Company owned property that was capitalized under previously existing built-to-suit accounting policies. (2) Represents the recognition of operating lease ROU assets and corresponding current and non-current lease liabilities. (3) Represents reclassification of deferred rent to operating lease ROU assets upon adoption of ASC 842. (4) Represents a decrease to the beginning fiscal 2022 accumulated deficit related to the adoption of ASC 842. The components of lease expense were as follows (in thousands): For the three months ended June 30, 2022 For the six months ended June 30, 2022 Finance lease expense: Amortization $ 87 $ 179 Interest on lease liabilities (1) 5 6 Operating lease expense: Operating lease expense (2) 1,784 3,567 Sublease income (501) (1,003) Total lease expense, net $ 1,375 $ 2,749 ______________________ (1) Interest expense on the Company's build-to-suit lease was previously included in interest and other income (expense), net on the condensed consolidated statements of comprehensive loss and with the adoption of ASC 842 it is now included in cost of revenue, along with the operating lease expense, on the condensed consolidated statements of comprehensive loss. (2) 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 ROU assets, 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 income (expense) 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 June 30, 2022 Finance lease assets Property and equipment, net $ 154 Operating lease assets Operating lease right-of-use asset 33,015 Total lease assets $ 33,169 Liabilities Current Finance lease liabilities Accrued expenses $ 99 Operating lease liabilities Accrued expenses 7,486 Non-current Finance lease liabilities Other long-term liabilities $ 45 Operating lease liabilities Operating lease liabilities, net of current portion 33,723 Total lease liabilities $ 41,353 Supplemental information related to the Company’s leases for the six months ended June 30, 2022 was as follows: Weighted-average remaining lease term (in years) Finance leases 1.4 Operating leases 5.0 Weighted-average discount rate Finance leases 3.38 % Operating leases 2.29 % Cash paid for amounts included in the measurement of lease liabilities (in thousands) Operating cash flows used in finance leases $ 6 Operating cash flows used in operating leases $ 3,329 Finance cash flows used in finance leases $ 203 The Company did not have any non-cash ROU assets obtained in exchange for lease liabilities during the six months ended June 30, 2022 for either finance or operating leases. Future minimum lease payments required under operating and finance leases as of June 30, 2022, were as follows (in thousands): Operating Leases Finance Leases Remaining 2022 $ 4,133 $ 68 2023 8,468 57 2024 8,704 21 2025 8,950 — 2026 9,201 — 2027 4,245 — Thereafter — — Future minimum lease payments $ 43,701 $ 146 Less: Amount representing interest (2,491) (3) Present value of future lease payments $ 41,210 $ 143 As of December 31, 2021, the future minimum rental payments under noncancelable leases with offsetting sublease revenue are as follows: (in thousands) Facility Subleases Build-to-Suit Capital Years Ending December 31, 2022 $ 5,231 $ (1,936) $ 2,639 $ 280 2023 5,754 (1,994) 2,714 57 2024 5,916 (2,054) 2,788 21 2025 6,082 (2,115) 2,868 — 2026 6,253 (2,179) 2,948 — Thereafter 1,357 (369) 2,888 — Future minimum lease payments (income) $ 30,593 $ (10,647) $ 16,845 $ 358 Less: Amount representing interest (8) Present value of future lease payments $ 350
Leases, finance	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 Operating lease ROU assets and lease liabilities are recorded on the date the Company takes possession of the leased assets with expense recognized on a straight-line basis over the lease term. Leases with an estimated total term of 12 months or less are not recorded on the balance sheet and the lease expense is recognized on a straight-line basis over the lease term. Generally, the Company’s lease agreements do not contain material residual value guarantees or material restrictive covenants. As a result of the adoption of ASC 842, the following adjustments were made to the opening balances of the Company’s Condensed Consolidated Balance Sheet (in thousands): December 31, 2021 Impact due to Adoption of January 1, 2022 Assets Property and equipment, net (1) $ 52,952 $ (37,581) $ 15,371 Operating lease ROU (2) — 36,127 36,127 Liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) Accrued expenses (2) $ 19,003 $ 5,113 $ 24,116 Lease financing obligation, net of current portion (1) 37,527 (37,527) — Operating lease liabilities, net of current portion (2) — 37,531 37,531 Other long-term liabilities (3) 7,487 (7,415) 72 Accumulated equity (deficit) (4) (391,656) 845 (390,811) ___________________ (1) Represents the derecognition of non-Company owned property that was capitalized under previously existing built-to-suit accounting policies. (2) Represents the recognition of operating lease ROU assets and corresponding current and non-current lease liabilities. (3) Represents reclassification of deferred rent to operating lease ROU assets upon adoption of ASC 842. (4) Represents a decrease to the beginning fiscal 2022 accumulated deficit related to the adoption of ASC 842. The components of lease expense were as follows (in thousands): For the three months ended June 30, 2022 For the six months ended June 30, 2022 Finance lease expense: Amortization $ 87 $ 179 Interest on lease liabilities (1) 5 6 Operating lease expense: Operating lease expense (2) 1,784 3,567 Sublease income (501) (1,003) Total lease expense, net $ 1,375 $ 2,749 ______________________ (1) Interest expense on the Company's build-to-suit lease was previously included in interest and other income (expense), net on the condensed consolidated statements of comprehensive loss and with the adoption of ASC 842 it is now included in cost of revenue, along with the operating lease expense, on the condensed consolidated statements of comprehensive loss. (2) 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 ROU assets, 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 income (expense) 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 June 30, 2022 Finance lease assets Property and equipment, net $ 154 Operating lease assets Operating lease right-of-use asset 33,015 Total lease assets $ 33,169 Liabilities Current Finance lease liabilities Accrued expenses $ 99 Operating lease liabilities Accrued expenses 7,486 Non-current Finance lease liabilities Other long-term liabilities $ 45 Operating lease liabilities Operating lease liabilities, net of current portion 33,723 Total lease liabilities $ 41,353 Supplemental information related to the Company’s leases for the six months ended June 30, 2022 was as follows: Weighted-average remaining lease term (in years) Finance leases 1.4 Operating leases 5.0 Weighted-average discount rate Finance leases 3.38 % Operating leases 2.29 % Cash paid for amounts included in the measurement of lease liabilities (in thousands) Operating cash flows used in finance leases $ 6 Operating cash flows used in operating leases $ 3,329 Finance cash flows used in finance leases $ 203 The Company did not have any non-cash ROU assets obtained in exchange for lease liabilities during the six months ended June 30, 2022 for either finance or operating leases. Future minimum lease payments required under operating and finance leases as of June 30, 2022, were as follows (in thousands): Operating Leases Finance Leases Remaining 2022 $ 4,133 $ 68 2023 8,468 57 2024 8,704 21 2025 8,950 — 2026 9,201 — 2027 4,245 — Thereafter — — Future minimum lease payments $ 43,701 $ 146 Less: Amount representing interest (2,491) (3) Present value of future lease payments $ 41,210 $ 143 As of December 31, 2021, the future minimum rental payments under noncancelable leases with offsetting sublease revenue are as follows: (in thousands) Facility Subleases Build-to-Suit Capital Years Ending December 31, 2022 $ 5,231 $ (1,936) $ 2,639 $ 280 2023 5,754 (1,994) 2,714 57 2024 5,916 (2,054) 2,788 21 2025 6,082 (2,115) 2,868 — 2026 6,253 (2,179) 2,948 — Thereafter 1,357 (369) 2,888 — Future minimum lease payments (income) $ 30,593 $ (10,647) $ 16,845 $ 358 Less: Amount representing interest (8) Present value of future lease payments $ 350

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events 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 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2021. 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, 2021 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. The Company had a change in accounting policy from those disclosed in the audited consolidated financial statements and related notes for the year ended December 31, 2021 related to the
Stock Split	Stock Split In April 2021, the Company effected a 1-for-2 forward stock split of its common and redeemable convertible preferred stock. In connection with the forward stock split, each issued and outstanding share of common stock, automatically and without action on the part of the holders, became two shares of common stock and each issued and outstanding share of redeemable convertible preferred stock, automatically and without action on the part of the holders, became two shares of redeemable convertible preferred stock. The par value per share of common and redeemable convertible preferred stock was not adjusted. All share, per share and related information presented in the condensed consolidated financial statements and accompanying notes have been retroactively adjusted, where applicable, to reflect the impact of the stock split.
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 doubtful accounts, valuation of short-term investments, capitalized software, useful lives associated with long-lived assets, 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 and for the periods prior to the Company’s IPO, the fair value of common stock. 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. In March 2020, the World Health Organization declared the outbreak of the novel coronavirus disease (“COVID-19”) a pandemic. The full extent to which the outbreak of the COVID-19 pandemic and any COVID-19 variants will impact the Company’s business, results of operations and financial condition is still unknown and will depend on future developments, which are uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak of COVID-19 and its variants, their severity, the actions to contain the virus and its variants or treat their impact, and how quickly and to what extent normal economic and operating conditions can resume.
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 net of allowances. 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 allowances as necessary for doubtful accounts.
Deferred IPO Costs	Deferred IPO CostsDeferred offering costs consisted of costs incurred in connection with the sale of the Company’s common stock in its IPO, including certain legal, accounting, and other IPO-related expenses.
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 of 2012 (“JOBS 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 February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update ("ASU") No 2016-02, Leases (Topic 842), as subsequently amended, collectively codified under Topic 842. Topic 842 requires lessees to recognize on the balance sheet assets and liabilities for leases with lease terms of more than twelve months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike prior guidance which requires only capital leases to be recognized on the balance sheet, the new ASU requires both types of leases to be recognized on the balance sheet. ASU 2016-02 was effective for public business entities for fiscal years beginning after December 15, 2018. In June 2020, FASB issued ASU No. 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) – Effective Dates for Certain Entities , which extended the effective date of this guidance for certain non-public entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted this guidance on January 1, 2022 on a modified retrospective basis under ASU 2018-11. As such, prior periods were not respectively adjusted. The Company also elected the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. The Company made an accounting policy election to not recognize lease assets and lease liabilities for leases in all asset classes with lease terms less than twelve months. The Company recognizes lease expense for such leases generally on a straight-line basis over the lease term. The Company also elected to combine lease and non-lease components on its leases into a single lease component. Upon adoption of this guidance on January 1, 2022, the Company recognized $36.1 million in right-of-use assets (“ROU”) and corresponding lease liabilities of $37.5 million, net of the current portion of lease liability of $7.0 million, on its condensed consolidated balance sheet. In addition, the Company recognized a decrease to assets and liabilities of $37.6 million and $38.4 million, respectively, and a decrease to the beginning accumulated deficit of $0.8 million, as a result of the derecognition of its build-to-suit arrangement that was reassessed to be an operating lease under the new guidance. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated statements of comprehensive loss or the condensed consolidated statements of cash flows. Refer to Note 13 included in these condensed consolidated financial statements for more information on leases. Recently Issued Accounting Pronouncements – Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments Credit Losses (Topic 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. The Company is evaluating the adoption of this guidance and the potential effects on the consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenue by sales channel: For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 (In thousands) Digital $ 37,871 $ 34,820 $ 72,132 $ 77,281 Retail 40,622 39,756 75,080 78,326 Total revenue $ 78,493 $ 74,576 $ 147,212 $ 155,607 Revenue by product category: For the three months ended June 30, For the six months ended June 30, 2022 2021 2022 2021 (In thousands) Diapers and Wipes $ 51,901 $ 47,831 $ 95,190 $ 97,404 Skin and Personal Care 23,275 23,866 44,541 50,111 Household and Wellness 3,317 2,879 7,481 8,092 Total revenue $ 78,493 $ 74,576 $ 147,212 $ 155,607

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (In thousands) Corporate bonds $ 15,752 $ — $ (81) $ 15,671 Certificates of deposit 4,168 — (10) 4,158 U.S. government and agency securities 6,706 — (29) 6,677 Total investments $ 26,626 $ — $ (120) $ 26,506 As of December 31, 2021 Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Total Estimated Fair Value (In thousands) Corporate bonds $ 18,605 $ — $ (28) $ 18,577 Certificates of deposit 17,099 — (5) 17,095 U.S. government and agency securities 6,725 — (9) 6,716 Total investments $ 42,429 $ — $ (42) $ 42,388

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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: June 30, 2022 Level 1 Level 2 Level 3 Total (In thousands) Cash equivalents Money market funds $ 22,706 $ — $ — $ 22,706 Corporate bonds (1) — 2,588 — 2,588 Total cash equivalents 22,706 2,588 — 25,294 Short-term investments Corporate bonds — 15,671 — 15,671 Certificates of deposit — 4,158 — 4,158 U.S. government and agency securities — 6,677 — 6,677 Total short-term investments — 26,506 — 26,506 Total $ 22,706 $ 29,094 $ — $ 51,800 __________________ (1) Consists of short-term corporate bonds and certificates of deposit with stated maturities of three months or less. December 31, 2021 Level 1 Level 2 Level 3 Total (In thousands) Cash equivalents Money market funds $ 29,411 $ — $ — $ 29,411 Total cash equivalents 29,411 — — 29,411 Short-term investments Corporate bonds — 18,577 — 18,577 Certificates of deposit — 17,095 — 17,095 U.S. government and agency securities — 6,716 — 6,716 Total short-term investments — 42,388 — 42,388 Total $ 29,411 $ 42,388 $ — $ 71,799

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following as of: June 30, 2022 December 31, 2021 (In thousands) Payroll and payroll related expenses $ 2,581 $ 2,497 Accrued inventory purchases 9,278 8,838 Accrued returns 926 1,455 Accrued rent (1) 7,486 — Other accrued expenses 5,584 6,213 Total accrued expenses $ 25,855 $ 19,003 ____________________

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2021 16,440,539 $ 5.26 Granted — $ — Exercised (43,556) $ 2.81 Forfeited (392,896) $ 5.46 Outstanding at June 30, 2022 16,004,087 $ 5.26
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 Officers and Employees Non-Employee Directors Officers and Employees Unvested RSUs at December 31, 2021 103,561 2,867,306 $ 16.00 $ 13.58 Granted 485,806 2,655,953 $ 3.51 $ 5.36 Vested (1) (110,735) (692,784) $ 14.39 $ 13.70 Forfeited (4,641) (473,175) $ 8.09 $ 10.90 Unvested RSUs at June 30, 2022 473,991 4,357,300 $ 3.65 $ 8.84 __________________________ (1) Includes 4,439 shares of common stock that were withheld to cover taxes on the release of vested RSUs and became available for future grants pursuant to the 2021 Plan.
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 six months ended June 30, 2022 Expected life of options (in years) 0.50 Expected stock price volatility 73.27% Risk free interest rate 1.52% Expected dividend yield —% Weighted average grant-date fair value per share $1.12
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 June 30, For the six months ended June 30, 2022 2021 2022 2021 (In thousands) Selling, general and administrative $ 3,707 $ 6,194 $ 7,078 $ 7,942 Research and development 205 432 382 522 Total stock-based compensation expense $ 3,912 $ 6,626 $ 7,460 $ 8,464

Net Income (Loss) per Share A_2

Net Income (Loss) per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings 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 June 30, For the six months ended June 30, (In thousands, except for share and per share values) 2022 2021 2022 2021 Numerator: Net loss $ (10,012) $ (20,034) $ (24,639) $ (24,518) Add: gain on conversion of preferred stock (1) — 28,994 — 28,994 Less: dividends paid to preferred stockholders (2) — (20,637) — (20,637) Net loss attributable to common stockholders - basic and diluted $ (10,012) $ (11,677) $ (24,639) $ (16,161) Denominator: Weighted average shares of common stock outstanding - basic 92,052,347 68,079,387 91,796,489 51,184,615 Weighted average shares of common stock outstanding - diluted 92,052,347 68,079,387 91,796,489 51,184,615 Net loss per share, attributable to common shareholders: Basic and diluted $ (0.11) $ (0.17) $ (0.27) $ (0.32) _______________________ (1) The conversion price of the Company’s Series C and Series D redeemable convertible preferred stock was adjusted as the offering price in the initial public offering was below a certain threshold resulting in the preferred stockholders receiving a fixed dollar amount on conversion settled into a variable number of shares, or a stock-settled redemption feature. Upon the settlement of this redemption feature, the Company recorded a gain on extinguishment of the redeemable convertible preferred stock of $29.0 million as an adjustment to net loss to arrive at net loss attributable to common stockholders to calculate earnings per share. The extinguishment gain was measured as the difference between the carrying amount of the redeemable convertible preferred stock and the fair value of common stock upon the IPO date that the preferred stock converted into.
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 June 30, For the six months ended June 30, 2022 2021 2022 2021 Stock options to purchase common stock 16,004,087 17,676,563 16,004,087 17,676,563 Unvested restricted stock units 4,831,291 2,709,119 4,831,291 2,709,119 Employee stock purchase plan 68,497 30,789 68,497 30,789 Total 20,903,875 20,416,471 20,903,875 20,416,471

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Accounting Standards Update and Change in Accounting Principle	As a result of the adoption of ASC 842, the following adjustments were made to the opening balances of the Company’s Condensed Consolidated Balance Sheet (in thousands): December 31, 2021 Impact due to Adoption of January 1, 2022 Assets Property and equipment, net (1) $ 52,952 $ (37,581) $ 15,371 Operating lease ROU (2) — 36,127 36,127 Liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) Accrued expenses (2) $ 19,003 $ 5,113 $ 24,116 Lease financing obligation, net of current portion (1) 37,527 (37,527) — Operating lease liabilities, net of current portion (2) — 37,531 37,531 Other long-term liabilities (3) 7,487 (7,415) 72 Accumulated equity (deficit) (4) (391,656) 845 (390,811) ___________________ (1) Represents the derecognition of non-Company owned property that was capitalized under previously existing built-to-suit accounting policies. (2) Represents the recognition of operating lease ROU assets and corresponding current and non-current lease liabilities. (3) Represents reclassification of deferred rent to operating lease ROU assets upon adoption of ASC 842. (4) Represents a decrease to the beginning fiscal 2022 accumulated deficit related to the adoption of ASC 842.
Lease, Cost	The components of lease expense were as follows (in thousands): For the three months ended June 30, 2022 For the six months ended June 30, 2022 Finance lease expense: Amortization $ 87 $ 179 Interest on lease liabilities (1) 5 6 Operating lease expense: Operating lease expense (2) 1,784 3,567 Sublease income (501) (1,003) Total lease expense, net $ 1,375 $ 2,749 ______________________ (1) Interest expense on the Company's build-to-suit lease was previously included in interest and other income (expense), net on the condensed consolidated statements of comprehensive loss and with the adoption of ASC 842 it is now included in cost of revenue, along with the operating lease expense, on the condensed consolidated statements of comprehensive loss.
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 June 30, 2022 Finance lease assets Property and equipment, net $ 154 Operating lease assets Operating lease right-of-use asset 33,015 Total lease assets $ 33,169 Liabilities Current Finance lease liabilities Accrued expenses $ 99 Operating lease liabilities Accrued expenses 7,486 Non-current Finance lease liabilities Other long-term liabilities $ 45 Operating lease liabilities Operating lease liabilities, net of current portion 33,723 Total lease liabilities $ 41,353 Supplemental information related to the Company’s leases for the six months ended June 30, 2022 was as follows: Weighted-average remaining lease term (in years) Finance leases 1.4 Operating leases 5.0 Weighted-average discount rate Finance leases 3.38 % Operating leases 2.29 % Cash paid for amounts included in the measurement of lease liabilities (in thousands) Operating cash flows used in finance leases $ 6 Operating cash flows used in operating leases $ 3,329 Finance cash flows used in finance leases $ 203
Lessee, Operating Lease, Liability, Maturity	Future minimum lease payments required under operating and finance leases as of June 30, 2022, were as follows (in thousands): Operating Leases Finance Leases Remaining 2022 $ 4,133 $ 68 2023 8,468 57 2024 8,704 21 2025 8,950 — 2026 9,201 — 2027 4,245 — Thereafter — — Future minimum lease payments $ 43,701 $ 146 Less: Amount representing interest (2,491) (3) Present value of future lease payments $ 41,210 $ 143
Finance Lease, Liability, Fiscal Year Maturity	Future minimum lease payments required under operating and finance leases as of June 30, 2022, were as follows (in thousands): Operating Leases Finance Leases Remaining 2022 $ 4,133 $ 68 2023 8,468 57 2024 8,704 21 2025 8,950 — 2026 9,201 — 2027 4,245 — Thereafter — — Future minimum lease payments $ 43,701 $ 146 Less: Amount representing interest (2,491) (3) Present value of future lease payments $ 41,210 $ 143
Schedule of Future Minimum Rental Receivable	As of December 31, 2021, the future minimum rental payments under noncancelable leases with offsetting sublease revenue are as follows: (in thousands) Facility Subleases Build-to-Suit Capital Years Ending December 31, 2022 $ 5,231 $ (1,936) $ 2,639 $ 280 2023 5,754 (1,994) 2,714 57 2024 5,916 (2,054) 2,788 21 2025 6,082 (2,115) 2,868 — 2026 6,253 (2,179) 2,948 — Thereafter 1,357 (369) 2,888 — Future minimum lease payments (income) $ 30,593 $ (10,647) $ 16,845 $ 358 Less: Amount representing interest (8) Present value of future lease payments $ 350
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2021, the future minimum rental payments under noncancelable leases with offsetting sublease revenue are as follows: (in thousands) Facility Subleases Build-to-Suit Capital Years Ending December 31, 2022 $ 5,231 $ (1,936) $ 2,639 $ 280 2023 5,754 (1,994) 2,714 57 2024 5,916 (2,054) 2,788 21 2025 6,082 (2,115) 2,868 — 2026 6,253 (2,179) 2,948 — Thereafter 1,357 (369) 2,888 — Future minimum lease payments (income) $ 30,593 $ (10,647) $ 16,845 $ 358 Less: Amount representing interest (8) Present value of future lease payments $ 350
Schedule of Future Minimum Lease Payments for Capital Leases	As of December 31, 2021, the future minimum rental payments under noncancelable leases with offsetting sublease revenue are as follows: (in thousands) Facility Subleases Build-to-Suit Capital Years Ending December 31, 2022 $ 5,231 $ (1,936) $ 2,639 $ 280 2023 5,754 (1,994) 2,714 57 2024 5,916 (2,054) 2,788 21 2025 6,082 (2,115) 2,868 — 2026 6,253 (2,179) 2,948 — Thereafter 1,357 (369) 2,888 — Future minimum lease payments (income) $ 30,593 $ (10,647) $ 16,845 $ 358 Less: Amount representing interest (8) Present value of future lease payments $ 350

Nature of Business (Details)

Nature of Business (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	May 07, 2021	May 06, 2021	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Apr. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Sale of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.0001				$ 0.0001	$ 0.0001
Price per share (in USD per share)	$ 16
Underwriting commissions, discounts, and offering costs			$ 12,200
IPO bonus	$ 9,500
Payroll taxes and expenses	200
Cash dividend declared							$ 35,000
Common stock authorized (in shares)		1,000,000,000			1,000,000,000	150,000,000
Preferred stock authorized (in shares)		20,000,000			20,000,000	20,000,000
Outstanding shares of redeemable convertible preferred stock (in shares)		49,100,928		0				49,100,928	49,100,928
Carrying value		$ 376,400		$ 0				$ 376,404	$ 376,404
Number of common stock issued from conversion (in shares)		49,649,023
Conversion of redeemable convertible preferred stock to common stock upon initial public offering		$ 29,000		$ 376,405
Selling, general and administrative
Sale of Stock [Line Items]
IPO bonus	9,100
Research and development
Sale of Stock [Line Items]
IPO bonus	$ 400
IPO
Sale of Stock [Line Items]
Number of common stock issued in transaction (in shares)	25,807,000
Aggregate net proceeds	$ 91,000
Underwriting commissions, discounts, and offering costs	$ 6,700
IPO - Sold by Company
Sale of Stock [Line Items]
Number of common stock issued in transaction (in shares)	6,451,613
IPO - Sold by Existing Shareholders
Sale of Stock [Line Items]
Number of common stock issued in transaction (in shares)	19,355,387
IPO - Other Offering Expense
Sale of Stock [Line Items]
Underwriting commissions, discounts, and offering costs	$ 5,500
Over-Allotment Option
Sale of Stock [Line Items]
Number of common stock issued in transaction (in shares)	3,871,050
Option to purchase additional shares, period	30 days

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Apr. 30, 2021	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)	Jun. 30, 2021 USD ($)	May 07, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Class of Stock [Line Items]
Number of operating segments | segment			1
Allowance for doubtful accounts		$ 100	$ 100	$ 200
Deferred offering costs								$ 5,500
Operating lease assets		33,015	33,015
Operating lease liabilities, net of current portion		33,723	33,723
Operating lease liabilities, current		7,486	7,486	0
Decrease to assets		(259,575)	(259,575)	(272,597)
Decrease to liabilities		(96,639)	(96,639)	(93,491)
Decrease to the beginning accumulated deficit		(162,936)	(162,936)	(179,106)	$ (168,889)		$ (179,787)		$ 239,520	$ 236,825
Accumulated Deficit
Class of Stock [Line Items]
Decrease to the beginning accumulated deficit		415,449	415,449	391,656	$ 405,437		$ 377,495		$ 357,461	$ 352,977
Impact due to Adoption of ASC 842
Class of Stock [Line Items]
Operating lease assets						$ 36,127
Operating lease liabilities, net of current portion						37,531
Decrease to the beginning accumulated deficit				(845)
Impact due to Adoption of ASC 842 | Accumulated Deficit
Class of Stock [Line Items]
Decrease to the beginning accumulated deficit				(845)
Accounting Standards Update 2016-02
Class of Stock [Line Items]
Operating lease assets						36,100
Operating lease liabilities, net of current portion						37,500
Operating lease liabilities, current						7,000
Decrease to assets						37,600
Decrease to liabilities						38,400
Accounting Standards Update 2016-02 | Impact due to Adoption of ASC 842 | Accumulated Deficit
Class of Stock [Line Items]
Decrease to the beginning accumulated deficit						$ 800
Household and Wellness | Sanitization and Disinfecting Products
Class of Stock [Line Items]
Inventory write-down		$ 200	$ 800	$ 5,600
Common Stock
Class of Stock [Line Items]
Stock split ratio	2
Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Stock split ratio	2

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 78,493	$ 74,576	$ 147,212	$ 155,607
Diapers and Wipes
Disaggregation of Revenue [Line Items]
Revenue	51,901	47,831	95,190	97,404
Skin and Personal Care
Disaggregation of Revenue [Line Items]
Revenue	23,275	23,866	44,541	50,111
Household and Wellness
Disaggregation of Revenue [Line Items]
Revenue	3,317	2,879	7,481	8,092
Digital
Disaggregation of Revenue [Line Items]
Revenue	37,871	34,820	72,132	77,281
Retail
Disaggregation of Revenue [Line Items]
Revenue	$ 40,622	$ 39,756	$ 75,080	$ 78,326

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 78,493,000	$ 74,576,000	$ 147,212,000	$ 155,607,000
Cost of revenue	54,929,000	47,633,000	$ 103,021,000	100,284,000
Trade Agreements
Disaggregation of Revenue [Line Items]
Marketing credits, usage period			4 years
Marketing credits, option to extend			2 years
Revenue	500,000	500,000	$ 1,300,000	3,900,000
Cost of revenue	300,000	$ 300,000	800,000	$ 2,200,000
Impairment			0
Transportation credit used	$ 500,000		$ 500,000

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments with contractual maturities of less than one year	$ 26,500,000	$ 36,400,000
Investments with contractual maturities between one and two years	$ 0	$ 6,000,000

Investments - Available-for-Sal

Investments - Available-for-Sale Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 26,626	$ 42,429
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(120)	(42)
Total Estimated Fair Value	26,506	42,388
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	15,752	18,605
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(81)	(28)
Total Estimated Fair Value	15,671	18,577
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	4,168	17,099
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(10)	(5)
Total Estimated Fair Value	4,158	17,095
U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	6,706	6,725
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(29)	(9)
Total Estimated Fair Value	$ 6,677	$ 6,716

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 26,506	$ 42,388
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	15,671	18,577
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	4,158	17,095
U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,677	6,716
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	25,294	29,411
Short-term investments	26,506	42,388
Total	51,800	71,799
Fair Value, Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	15,671	18,577
Fair Value, Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	4,158	17,095
Fair Value, Recurring | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,677	6,716
Fair Value, Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	22,706	29,411
Fair Value, Recurring | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,588
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	22,706	29,411
Short-term investments	0	0
Total	22,706	29,411
Fair Value, Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	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	0
Fair Value, Recurring | Level 1 | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Fair Value, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	22,706	29,411
Fair Value, Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,588	0
Short-term investments	26,506	42,388
Total	29,094	42,388
Fair Value, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	15,671	18,577
Fair Value, Recurring | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	4,158	17,095
Fair Value, Recurring | Level 2 | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,677	6,716
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 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,588
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	0
Total	0	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	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	0
Fair Value, Recurring | Level 3 | U.S. government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	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
Fair Value, Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0

Credit Facilities (Details)

Credit Facilities (Details) - 2021 Credit Facility	1 Months Ended
	Apr. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)
JP Morgan Chase Bank
Line of Credit Facility [Line Items]
Maximum total net leverage ratio		3.50
Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate base	0%
Debt instrument, basis spread on variable rate plus (minus)	1.50%
Revolving Credit Facility | CB floating rate
Line of Credit Facility [Line Items]
Interest rate base	2.50%
Debt instrument, basis spread on variable rate plus (minus)	0.50%
Revolving Credit Facility | JP Morgan Chase Bank
Line of Credit Facility [Line Items]
Maximum issuance of letters of credit	$ 35,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Maximum issuance of letters of credit	$ 10,000,000
Outstanding borrowings		$ 0
Standby Letters of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding		6,300,000
Letters of credit available to be drawn		$ 28,700,000

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Payroll and payroll related expenses	$ 2,581	$ 2,497
Accrued inventory purchases	9,278	8,838
Accrued returns	926	1,455
Accrued rent	7,486	0
Other accrued expenses	5,584	6,213
Total accrued expenses	$ 25,855	$ 19,003

Commitments and Contingencies (

Commitments and Contingencies (Details) - Nevada Department of Taxation vs. Honest Company - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Jun. 09, 2021
Loss Contingencies [Line Items]
Payments for legal settlements		$ 0.6
Interest expense		$ 0.1
Other income	$ 0.7
Pending Litigation
Loss Contingencies [Line Items]
Potential loss			$ 0.7

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Options
Options outstanding, beginning balance (in shares) | shares	16,440,539
Granted (in shares) | shares	0
Exercised (in shares) | shares	(43,556)
Forfeited (in shares) | shares	(392,896)
Options outstanding, ending balance (in shares) | shares	16,004,087
Weighted Average Exercise Price
Weighted-average exercise price, beginning balance (in dollars per share) | $ / shares	$ 5.26
Weighted-average exercise price, granted (in dollars per share) | $ / shares	0
Weighted-average exercise price, exercised (in dollars per share) | $ / shares	2.81
Weighted-average exercise price, forfeited (in dollars per share) | $ / shares	5.46
Weighted-average exercise price, ending balance (in dollars per share) | $ / shares	$ 5.26

Stock-Based Compensation - 2021

Stock-Based Compensation - 2021 Equity Incentive Plan (Details) - 2021 Equity Incentive Plan	1 Months Ended
	Apr. 30, 2021 shares
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%
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

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU Awards (Details) - Unvested restricted stock units	6 Months Ended
	Jun. 30, 2022 $ / shares shares
2021 Equity Incentive Plan
Weighted Average Grant Date Fair Value Per Share
Shares withheld related to net share settlement of equity awards (in shares)	4,439
Non-Employee Directors
Number of Shares
Unvested RSUs, beginning balance (in shares)	103,561
Granted (in shares)	485,806
Vested (in shares)	(110,735)
Forfeited (in shares)	(4,641)
Unvested RSUs, ending balance (in shares)	473,991
Weighted Average Grant Date Fair Value Per Share
Unvested RSUs, beginning balance (in USD per share) | $ / shares	$ 16
Granted (in USD per share) | $ / shares	3.51
Vested (in USD per share) | $ / shares	14.39
Forfeited (in USD per share) | $ / shares	8.09
Unvested RSUs, ending balance (in USD per share) | $ / shares	$ 3.65
Officers and Employees
Number of Shares
Unvested RSUs, beginning balance (in shares)	2,867,306
Granted (in shares)	2,655,953
Vested (in shares)	(692,784)
Forfeited (in shares)	(473,175)
Unvested RSUs, ending balance (in shares)	4,357,300
Weighted Average Grant Date Fair Value Per Share
Unvested RSUs, beginning balance (in USD per share) | $ / shares	$ 13.58
Granted (in USD per share) | $ / shares	5.36
Vested (in USD per share) | $ / shares	13.70
Forfeited (in USD per share) | $ / shares	10.90
Unvested RSUs, ending balance (in USD per share) | $ / shares	$ 8.84

Stock-Based Compensation - RS_2

Stock-Based Compensation - RSU Awards Narrative (Details) - Unvested restricted stock units $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 38.8
Period for recognition	3 years 1 month 6 days

Stock-Based Compensation - 20_2

Stock-Based Compensation - 2021 Employee Stock Purchase Plan (Details) - shares	1 Months Ended	3 Months Ended	6 Months Ended
	Apr. 30, 2021	Jun. 30, 2022	Jun. 30, 2022
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
Period to increase available shares for issuance	10 years
Percentage of total number of shares outstanding	1%
Additional shares authorized (in shares)	3,525,000
Purchase price of common stock in percent	85%
Shares issued through ESPP (in shares)		58,111	58,111
Number of shares available for purchase (in shares)		1,992,520	1,992,520

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Options	6 Months Ended
	Jun. 30, 2022 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options (in years)	6 months
Expected stock price volatility	73.27%
Risk free interest rate	1.52%
Expected dividend yield	0%
Weighted average grant-date fair value per share (in USD per share)	$ 1.12

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 3,912	$ 6,626	$ 7,460	$ 8,464
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,707	6,194	7,078	7,942
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 205	$ 432	$ 382	$ 522

Net Income (Loss) per Share A_3

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		1 Months Ended	3 Months Ended				6 Months Ended
	Jun. 29, 2021	Apr. 30, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss			$ (10,012)	$ (14,626)	$ (20,034)	$ (4,484)	$ (24,639)	$ (24,518)
Add: gain on conversion of preferred stock			0		28,994		0	28,994
Less: dividends paid to preferred stockholders			0		(20,637)		0	(20,637)
Net loss attributable to common stockholders - basic and diluted			(10,012)		(11,677)		(24,639)	(16,161)
Net loss attributable to common stockholders - diluted			$ (10,012)		$ (11,677)		$ (24,639)	$ (16,161)
Denominator:
Weighted average shares of common stock outstanding - basic (in shares)			92,052,347		68,079,387		91,796,489	51,184,615
Weighted average shares of common stock outstanding - diluted			92,052,347		68,079,387		91,796,489	51,184,615
Net loss per share attributable to common stockholders:
Basic (in dollars per share)			$ (0.11)		$ (0.17)		$ (0.27)	$ (0.32)
Diluted (in dollars per share)			$ (0.11)		$ (0.17)		$ (0.27)	$ (0.32)
Cash dividend declared		$ 35,000
Dividends paid to holders of Company's redeemable convertible preferred stock	$ 20,600

Net Income (Loss) per Share A_4

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	20,903,875	20,416,471	20,903,875	20,416,471
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)	16,004,087	17,676,563	16,004,087	17,676,563
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)	4,831,291	2,709,119	4,831,291	2,709,119
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)	68,497	30,789	68,497	30,789

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Uncertain tax positions	$ 0	$ 0
Interest and penalties expense	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Summit House Studios LLC
Related Party Transaction [Line Items]
Advertising expense	$ 0	$ 0.2	$ 0	$ 0.3

Leases - Additional Information

Leases - Additional Information (Details)	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Operating lease, weighted-average discount rate	2.29%
Operating lease, weighted-average remaining lease term	5 years
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

Leases - Summary of Impact of T

Leases - Summary of Impact of Topic 842 (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, net			$ 52,952
Property and equipment, net	$ 14,957
Operating lease assets	33,015
Total accrued expenses	25,855		19,003
Lease financing obligation, net of current portion			37,527
Operating lease liabilities, net of current portion	33,723
Other long-term liabilities	45		7,487
Accumulated deficit	$ (415,449)		$ (391,656)
Impact due to Adoption of ASC 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, net		$ (37,581)
Operating lease assets		36,127
Total accrued expenses		5,113
Lease financing obligation, net of current portion		(37,527)
Operating lease liabilities, net of current portion		37,531
Other long-term liabilities		(7,415)
Accumulated deficit		845
Cumulative Effect, Period of Adoption, Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property and equipment, net		15,371
Operating lease assets		36,127
Total accrued expenses		24,116
Operating lease liabilities, net of current portion		37,531
Other long-term liabilities		72
Accumulated deficit		$ (390,811)

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Leases [Abstract]
Amortization	$ 87	$ 179
Interest on lease liabilities(1)	5	6
Operating lease expense	1,784	3,567
Sublease income	(501)	(1,003)
Total lease expense, net	$ 1,375	$ 2,749

Leases - Summary of Assets and

Leases - Summary of Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Assets
Finance lease, right-of-use asset, statement of financial position	Property and equipment, net
Finance lease assets	$ 154
Operating lease assets	33,015
Total lease assets	$ 33,169
Current
Finance lease, liability, current, statement of financial position	Total accrued expenses
Finance lease liabilities, current	$ 99
Operating lease, liability, current, statement of financial position	Total accrued expenses
Operating lease liabilities, current	$ 7,486	$ 0
Non-current
Finance lease, liability, noncurrent, statement of financial position	Other long-term liabilities
Lease financing obligation, net of current portion	$ 45
Operating lease liabilities, net of current portion	33,723
Total lease liabilities	$ 41,353
Weighted-average remaining lease term (in years)
Finance lease, weighted-average remaining lease term	1 year 4 months 24 days
Operating lease, weighted-average remaining lease term	5 years
Weighted-average discount rate
Finance lease, weighted-average discount rate	3.38%
Operating lease, weighted-average discount rate	2.29%
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used in finance leases	$ 6
Operating cash flows used in operating leases	3,329
Finance cash flows used in finance leases	$ 203

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments for Operating and Finance Leases (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Leases
Remaining 2022	$ 4,133
2023	8,468
2024	8,704
2025	8,950
2026	9,201
2027	4,245
Thereafter	0
Future minimum lease payments	43,701
Less: Amount representing interest	(2,491)
Present value of future lease payments	41,210
Finance Leases
Remaining 2022	68
2023	57
2024	21
2025	0
2026	0
2027	0
Thereafter	0
Future minimum lease payments	146
Less: Amount representing interest	(3)
Present value of future lease payments	$ 143

Leases - Summary of Minimum Fut

Leases - Summary of Minimum Future Rent Obligations (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Subleases
2022	$ (1,936)
2023	(1,994)
2024	(2,054)
2025	(2,115)
2026	(2,179)
Thereafter	(369)
Future minimum lease payments (income)	(10,647)
Capital Leases
2022	280
2023	57
2024	21
2025	0
2026	0
Thereafter	0
Future minimum lease payments (income)	358
Less: Amount representing interest	(8)
Present value of future lease payments	350
Facility Leases
Operating Leases
2022	5,231
2023	5,754
2024	5,916
2025	6,082
2026	6,253
Thereafter	1,357
Future minimum lease payments (income)	30,593
Build-to-Suit Lease
Operating Leases
2022	2,639
2023	2,714
2024	2,788
2025	2,868
2026	2,948
Thereafter	2,888
Future minimum lease payments (income)	$ 16,845