Allbirds (BIRD) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2022	Nov. 01, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-40963
Entity Registrant Name	Allbirds, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3999983
Entity Address, Address Line One	730 Montgomery Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	628
Local Phone Number	225-4848
Title of 12(b) Security	Class A Common Stock, $0.0001 par value per share
Trading Symbol	BIRD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001653909
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		96,215,382
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		53,137,729

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 180,727	$ 288,576
Accounts receivable	9,122	10,978
Inventory	126,470	106,876
Prepaid expenses and other current assets	34,953	37,938
Total current assets	351,272	444,368
Property and equipment—net	52,211	37,955
Other assets	10,085	6,106
Total assets	413,568	488,429
Current liabilities:
Accounts payable	17,771	30,726
Accrued expenses and other current liabilities	42,348	46,243
Deferred revenue	3,398	4,187
Total current liabilities	63,517	81,156
Noncurrent liabilities:
Other long-term liabilities	17,676	10,269
Total noncurrent liabilities	17,676	10,269
Total liabilities	81,193	91,425
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred Stock, $0.0001 par value; 20,000,000 shares authorized as of September 30, 2022 and December 31, 2021; zero shares issued and outstanding as of September 30, 2022 and December 31, 2021	0	0
Additional paid-in capital	553,333	533,709
Accumulated other comprehensive (loss) income	(7,097)	666
Accumulated deficit	(213,876)	(137,386)
Total stockholders’ equity	332,375	397,004
Total liabilities and stockholders’ equity	413,568	488,429
Class A Common Stock
Stockholders’ equity:
Common stock	10	5
Class B Common Stock
Stockholders’ equity:
Common stock	$ 5	$ 10

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, issued (in shares)	96,217,296	49,016,511
Common stock, outstanding (in shares)	96,217,296	49,016,511
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	53,137,729	98,036,009
Common stock, outstanding (in shares)	53,137,729	98,036,009

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net revenue	$ 72,651	$ 62,711	$ 213,588	$ 180,253
Cost of revenue	40,120	28,776	120,263	82,370
Gross profit	32,531	33,935	93,325	97,883
Operating expense:
Selling, general, and administrative expense	45,391	33,017	125,853	85,549
Marketing expense	12,654	12,794	42,294	38,808
Total operating expense	58,045	45,811	168,147	124,356
Loss from operations	(25,514)	(11,876)	(74,822)	(26,473)
Interest expense	(35)	(53)	(107)	(141)
Other income (expense)	155	(2,039)	393	(8,019)
Loss before provision for income taxes	(25,394)	(13,968)	(74,536)	(34,632)
Income tax benefit (provision)	153	167	(1,953)	(298)
Net loss	(25,241)	(13,802)	(76,489)	(34,930)
Other comprehensive loss:
Foreign currency translation loss	(3,690)	(699)	(7,763)	(1,029)
Total comprehensive loss	$ (28,931)	$ (14,500)	$ (84,252)	$ (35,959)
Per share data:
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.17)	$ (0.25)	$ (0.52)	$ (0.64)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.17)	$ (0.25)	$ (0.52)	$ (0.64)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	149,267,269	55,590,320	148,481,459	54,631,455
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	149,267,269	55,590,320	148,481,459	54,631,455

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2020					53,683,269
Stockholders' equity, beginning balance at Dec. 31, 2020	$ (25,507)				$ 5	$ 64,548	$ 1,956	$ (92,016)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)					2,553,187
Exercise of stock options	4,409					4,409
Exercise of common stock warrants (in shares)					276,151
Exercise of common stock warrants	354					354
Vesting of common stock warrants	793					793
Stock-based compensation	6,553					6,553
Comprehensive loss	(1,029)						(1,029)
Net loss	(34,930)							(34,930)
Stockholders' equity, ending balance (in shares) at Sep. 30, 2021			127,735,199		56,512,607
Stockholders' equity, ending balance at Sep. 30, 2021	$ (49,357)				$ 5	76,657	927	(126,946)
Temporary equity, beginning balance (in shares) at Dec. 31, 2020	70,990,919
Temporary equity, beginning balance at Dec. 31, 2020	$ 204,049
Temporary equity, ending balance (in shares) at Sep. 30, 2021	70,990,919
Temporary equity, ending balance at Sep. 30, 2021	$ 204,049
Stockholders' equity, beginning balance (in shares) at Jun. 30, 2021					54,894,072
Stockholders' equity, beginning balance at Jun. 30, 2021	(40,925)				$ 5	70,588	1,626	(113,144)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)					1,587,852
Exercise of stock options	2,610					2,610
Exercise of common stock warrants (in shares)					30,683
Exercise of common stock warrants	39					39
Vesting of common stock warrants	793					793
Stock-based compensation	2,627					2,627
Comprehensive loss	(699)						(699)
Net loss	(13,802)							(13,802)
Stockholders' equity, ending balance (in shares) at Sep. 30, 2021			127,735,199		56,512,607
Stockholders' equity, ending balance at Sep. 30, 2021	$ (49,357)				$ 5	76,657	927	(126,946)
Temporary equity, beginning balance (in shares) at Jun. 30, 2021	70,990,919
Temporary equity, beginning balance at Jun. 30, 2021	$ 204,049
Temporary equity, ending balance (in shares) at Sep. 30, 2021	70,990,919
Temporary equity, ending balance at Sep. 30, 2021	$ 204,049
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2021		49,016,511	98,036,009	49,016,511	98,038,941
Stockholders' equity, beginning balance at Dec. 31, 2021	$ 397,004			$ 5	$ 10	533,709	666	(137,386)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	1,734,516				1,734,516
Exercise of stock options	$ 2,586					2,586
Exercise of common stock warrants (in shares)					25,717
Vesting of common stock warrants	843					843
Vesting of restricted stock units (in shares)				367,414
Repayment of non-recourse promissory note	539					539
Issuance of common stock under employee stock purchase plan (in shares)				171,926
Issuance of common stock under employee stock purchase plan	823					823
Conversion of Class B shares into Class A common stock (in shares)				46,661,445	(46,661,445)
Conversion of Class B shares into Class A common stock	0			$ 5	$ (5)
Stock-based compensation	14,833					14,833
Comprehensive loss	(7,763)						(7,763)
Net loss	(76,489)							(76,489)
Stockholders' equity, ending balance (in shares) at Sep. 30, 2022		96,217,296	53,137,729	96,217,296	53,137,729
Stockholders' equity, ending balance at Sep. 30, 2022	$ 332,375			$ 10	$ 5	553,333	(7,097)	(213,876)
Temporary equity, beginning balance (in shares) at Dec. 31, 2021	0
Stockholders' equity, beginning balance (in shares) at Jun. 30, 2022				94,397,696	54,467,089
Stockholders' equity, beginning balance at Jun. 30, 2022	$ 354,320			$ 9	$ 6	546,346	(3,407)	(188,634)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)					121,576
Exercise of stock options	323					323
Exercise of common stock warrants (in shares)					3,750
Vesting of restricted stock units (in shares)				364,914
Repayment of non-recourse promissory note	539					539
Conversion of Class B shares into Class A common stock (in shares)				1,454,686	(1,454,686)
Conversion of Class B shares into Class A common stock				$ 1	$ (1)
Stock-based compensation	6,125					6,125
Comprehensive loss	(3,690)						(3,690)
Net loss	(25,241)							(25,241)
Stockholders' equity, ending balance (in shares) at Sep. 30, 2022		96,217,296	53,137,729	96,217,296	53,137,729
Stockholders' equity, ending balance at Sep. 30, 2022	$ 332,375			$ 10	$ 5	$ 553,333	$ (7,097)	$ (213,876)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (76,489)	$ (34,930)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	11,129	6,532
Amortization of debt issuance costs	37	37
Stock-based compensation	14,785	7,346
Inventory write-down	12,675	0
Change in fair value of preferred stock warrant liability	0	7,242
Changes in assets and liabilities:
Accounts receivable	1,563	(112)
Inventory	(34,890)	(40,753)
Prepaid expenses and other current assets	(1,939)	(11,542)
Other assets	(3,839)	0
Accounts payable and accrued expenses	(12,054)	17,262
Other long-term liabilities	7,674	3,876
Deferred revenue	(810)	(454)
Net cash used in operating activities	(82,158)	(45,496)
Cash flows from investing activities:
Purchase of property and equipment	(24,957)	(17,633)
Changes in security deposits	(610)	(686)
Net cash used in investing activities	(25,567)	(18,319)
Cash flows from financing activities:
Proceeds from the exercise of stock options	2,738	4,409
Taxes withheld and paid on employee stock awards	(152)	0
Proceeds from issuance of common stock under the employee stock purchase plan	823	0
Proceeds from the exercise of common stock warrants	0	354
Repayment of non-recourse promissory note	539	0
Payments of deferred offering costs	(744)	(2,458)
Net cash provided by financing activities	3,204	2,305
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	(2,698)	(371)
Net decrease in cash, cash equivalents, and restricted cash	(107,219)	(61,880)
Cash, cash equivalents, and restricted cash—beginning of period	288,576	127,251
Cash, cash equivalents, and restricted cash—end of period	181,357	65,371
Supplemental disclosures of cash flow information:
Cash paid for interest	63	97
Cash paid for taxes	1,366	339
Noncash investing and financing activities:
Purchase of property and equipment included in accounts payable	1,299	603
Non-cash exercise of common stock warrants	35	0
Stock-based compensation included in capitalized internal-use software	892	0
Deferred offering costs included in accrued liabilities	0	2,120
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	180,727	65,371
Restricted cash included in prepaid expenses and other current assets	630	0
Total cash, cash equivalents, and restricted cash	$ 181,357	$ 65,371

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS Allbirds, Inc. (“Allbirds” and, together with its wholly owned subsidiaries, the “Company,” “we,” or “our”) was incorporated in the state of Delaware on May 6, 2015. Headquartered in San Francisco, California, Allbirds is a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on our planet. The majority of our revenue is from sales directly to consumers via our digital and store channels. Amended and Restated Certificate of Incorporation In September 2021, we filed our Eighth Amended and Restated Certificate of Incorporation, which established a dual class common stock structure and authorized a total of 2,000,000,000 shares of Class A common stock, 200,000,000 shares of Class B common stock, and 75,812,755 shares of convertible preferred stock. Upon the filing of the Eighth Amended and Restated Certificate of Incorporation, 127,735,199 shares of our then-outstanding common stock were reclassified into an equivalent number of shares of Class B common stock, which includes our convertible preferred stock on an as-converted basis and warrants being exercised or exchanged in connection with our initial public offering (“IPO”), described below, on an as-exercised or as-exchanged basis, as applicable. Initial Public Offering On November 2, 2021, we priced our IPO and our Class A common stock began trading on The Nasdaq Global Select Market on November 3, 2021 under the symbol “BIRD.” In connection with the closing of the IPO on November 5, 2021, 23,221,152 shares of our Class A common stock were issued and sold at a public offering price of $15.00 per share, which consisted of 16,850,799 shares we offered and 6,370,353 shares offered by certain existing stockholders. We received aggregate proceeds of $237.0 million from the IPO, net of the underwriting discounts and commissions of $15.8 million and before offering costs of approximately $5.4 million. We did not receive any proceeds from the sale of shares of our Class A common stock by the selling stockholders. In November 2021, immediately prior to the closing of the IPO, all 70,990,919 shares of our convertible preferred stock then outstanding were converted into an equivalent number of shares of Class B common stock and we reclassified $204.0 million of convertible preferred stock to additional paid-in capital. 1,104,560 shares of Class B common stock were automatically issued pursuant to the terms of outstanding convertible preferred stock warrants, and 714,965 shares of Class B common stock were issued upon the exercise by the holder of an outstanding Class B common stock warrant. In connection with the closing of the IPO, we also filed our Ninth Amended and Restated Certificate of Incorporation, which authorized a total of 2,000,000,000 shares of Class A common stock, 200,000,000 shares of Class B common stock, and 20,000,000 shares of preferred stock.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation —The accompanying unaudited condensed consolidated financial statements have been presented in U.S. dollars and prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the U.S. 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. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 16, 2022 (the “Form 10-K”). In the opinion of management, the accompanying unaudited condensed interim financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The condensed 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. Certain monetary amounts, percentages, and other figures included elsewhere in these condensed consolidated financial statements and accompanying notes have been subject to rounding adjustments. As such, figures shown as totals in certain tables may not be the arithmetic aggregation of the figures that precede them, and figures expressed as percentages in the text may not total 100% or, as applicable, when aggregated may not be the arithmetic aggregation of the percentages that precede them. Principles of Consolidation —The condensed consolidated financial statements include the accounts of Allbirds, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates —The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Coronavirus (“COVID-19”) Pandemic In December 2019, a novel strain of coronavirus (“COVID-19”) was reported, and during 2020 and 2021 expanded into a worldwide pandemic, leading to significant business and supply chain disruptions. During the three and nine months ended September 30, 2022, aspects of our business continued to be affected by COVID-19. During these periods, the vast majority of our retail stores around the world remained open. To date, we have not permanently closed any of our retail stores due to COVID-19. Our distribution centers and retail stores continue to operate with restrictive and precautionary measures in place, subject to national, state, and local rules and regulations. At times, our suppliers and logistical service providers have experienced disruptions that have affected our operations worldwide. Similar impacts or other disruptions could occur in the future. Given the uncertainty regarding the length, severity, and ability to combat the COVID-19 pandemic, we cannot reasonably estimate the future impact on our results of operations, cash flows, or financial condition. Segments —Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by our chief operating decision maker (“CODM”), in deciding how to allocate resources to an individual segment and in assessing performance. Our CODMs are the co-Chief Executive Officers. We operate in one operating segment and one reportable segment, as the CODMs review financial information presented on an aggregate basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. Accounts Receivable —Accounts receivable results from sales to customers, including credit card deposits in transit at the balance sheet date, the majority of which are settled within two three During the fourth quarter of 2021, we made an accounting policy change to present customer accounts receivables that are not credit card receivables, within the accounts receivable line on the condensed consolidated balance sheet to align with management’s reporting. These types of receivables were historically immaterial and are included in prepaid and other current assets within the condensed consolidated financial statements and accompanying footnotes for periods presented prior to the fourth quarter of 2021. Inventory —Inventory consists of finished goods, stated at the lower of cost or net realizable value. We value our inventory using the weighted-average cost method and include product costs from our suppliers, freight, import duties and other landing costs. We periodically review inventory and make provisions as necessary to appropriately value end of life, slow-moving, damaged, and excess inventory. To determine if the value of inventory requires a write-down, we estimate the net realizable value of inventory by considering current and anticipated demand, customer preferences and buying trends, and the age of the merchandise. Inventory write-downs are recognized in cost of revenue in the condensed consolidated statements of operations and comprehensive loss. In addition to this ongoing provision process, during the three months ended June 30, 2022 we recorded a specific reserve to write-down approximately $9.8 million of inventory, primarily related to certain first-generation apparel products as a result of a change in apparel strategy, demand for these products, and age of merchandise. During three months ended September 30, 2022, we made adjustments to the specific reserve. The reserve was reduced for inventory liquidated during the quarter by $3.8 million. The reserve was increased by $1.0 million to reflect management’s current estimate of net realizable value for certain products based on forecasted demand and market conditions, for a specific ending reserve of $6.9 million. Revenue Recognition —Our primary source of revenue is from sales of shoes and apparel products. We recognize revenue when control passes to the customer. This occurs at the time products are shipped to customers for orders placed online, and at the point of sale for retail sales in the store, which is when our performance obligation is satisfied. For the three and nine months ended September 30, 2022, we recognized $1.0 million and $3.1 million, respectively, of revenue that was deferred as of December 31, 2021, and for the three and nine months ended September 30, 2021, we recognized $0.8 million and $2.4 million, respectively, of revenue that was deferred as of December 31, 2020. As of September 30, 2022 and December 31, 2021, we had $0.3 million and $0.7 million, respectively, in cash collections of purchases via our digital channel which had not yet shipped, and $3.1 million and $3.5 million, respectively, in gift card liabilities included in deferred revenue in the condensed consolidated balance sheets. The deferred revenue balance of $3.4 million at September 30, 2022 is expected to be recognized over the next 12 months. We record a reserve for estimated product returns, based upon historical return trends, in each reporting period as an offsetting decrease of net revenue, with an increase to our sales-refund reserve in accrued expenses. We have also recorded a related inventory returns receivable in prepaid expenses and other current assets, with an offsetting decrease to cost of revenue, as of September 30, 2022 and December 31, 2021 in the condensed consolidated balance sheets. The following table disaggregates our net revenue by geographic area, where no individual foreign country contributed in excess of 10% of net revenue for the three and nine months ended September 30, 2022 and 2021. We recognized the following net revenue by geographic area based on the primary shipping address of the customer where the sale was made in our digital channel, and based on the physical store location where the sale was made at a retail store: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 United States $ 56,083 $ 47,749 $ 164,229 $ 132,854 International 16,568 14,962 49,359 47,399 Total net revenue $ 72,651 $ 62,711 $ 213,588 $ 180,253 Restricted Cash —Restricted cash serves as collateral for a bond with the United States Customs and Border Protection (“CBP”), which allows us to take possession of our inventory before all formalities with the CBP are completed for imported products. As of September 30, 2022 and December 31, 2021, we had $0.6 million and $0.0 million of restricted cash, respectively. Foreign Currency Translation and Transactions —The functional currency for each subsidiary included in these condensed consolidated financial statements that is domiciled outside of the United States is generally the applicable local currency of that country. Adjustments resulting from translating foreign functional currency financial statements of our global subsidiaries into U.S. dollars are included in the foreign currency translation adjustment in other comprehensive loss, which is a component of accumulated other comprehensive income or loss included in stockholders' equity. The remeasurement of our global subsidiaries’ assets and liabilities, which are denominated in a foreign currency, are recorded in other income (expense), within the condensed consolidated statements of operations and comprehensive loss. Fair Value Measurements —Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value under GAAP, and enhances disclosures about fair value measurements. It clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 —Observable inputs, such as quoted prices in active markets Level 2 —Inputs other than the quoted prices in active markets that are observable either directly or indirectly Level 3 —Unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. We record cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses at cost. The carrying values of these instruments approximate their fair value due to their short‐term maturities. We hold certain assets and liabilities that are required to be measured at fair value on both a recurring and non-recurring basis, which are outlined in Note 8, Fair Value Measurements . Exit Activities —In the third quarter of 2022, we announced plans to streamline workflows and lower operating costs. As part of this effort, we reduced our global corporate workforce by terminating 23 individuals, representing approximately 8% of our global corporate workforce, resulting in severance and employee-related termination costs, including stock-based compensation, recognized during the third quarter of 2022 within selling, general, and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. We expect to complete remaining reductions by the end of 2022, and we expect the expense associated with these terminations to be immaterial. In addition, we ceased the use of one of our corporate office leases in the United States and recognized immaterial cease use charges within selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss. We plan to move out of an additional corporate office lease in the United States in the fourth quarter of 2022, and until the cease use date is known, the timing and fair value of expenses incurred as a result of the cease use cannot be reasonably estimated. The following table presents a roll-forward of our severance and employee-related termination costs, which is included within accrued expenses and other current liabilities in the condensed consolidated balance sheets: (in thousands) Severance and employee-related termination costs Balance as of June 30, 2022 $ — Charges 665 Cash Payments (496) Balance as of September 30, 2022 $ 169 Emerging Growth Company —As an “emerging growth company,” the Jumpstart Our Business Startups Act, or JOBS Act, allows us to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. For certain pronouncements, we have elected to use the adoption dates applicable to private companies. As a result, our 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 December 2019, the FASB issued Accounting Standards Update 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. We adopted this update as of January 1, 2022, and noted no effect on the condensed consolidated financial statements and related disclosures. In October 2020, the FASB issued Accounting Standards Update 2020-10, Codification Improvements , which updated various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. We adopted this update as of January 1, 2022, and noted no effect on the condensed consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”), which requires recognition of lease assets and lease liabilities in the balance sheet by the lessees for lease contracts with a lease term of more than 12 months. ASU 2016-02 can be applied on a modified retrospective basis, in which entities can present all prior periods under previous lease accounting guidance while recognizing the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earnings in the year of adoption. In June 2020, the FASB issued Accounting Standards Update 2020-05, Effective Dates for Certain Entities, which deferred the effective date for nonpublic entities, including emerging growth companies, that had not yet adopted ASU 2016-02. Under the amended guidance, the leasing standard will be effective for our fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. We intend to adopt the standards and related disclosures for our fiscal year ending December 31, 2022, and interim periods within our fiscal year ending December 31, 2023. Based on our lease portfolio as of January 1, 2022, we preliminarily estimate the impact of adoption of ASU 2016-02 to increase our total assets in the range of $65 million to $80 million and our total liabilities in the range of $75 million to $90 million. We do not expect a material impact on our consolidated statements of operations and comprehensive loss. As we continue to finalize the implementation of new processes and the assessment of the impact of this adoption on our consolidated financial statements, the preliminary estimated impacts disclosed can change and the final impact will be known once the adoption is completed during the fourth quarter of 2022. In June 2016, the FASB issued Accounting Standards Update 2016-13, Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires entities to use a forward-looking approach based on current expected credit losses to estimate credit losses on certain types of financial instruments, including trade and account receivables, which may result in the earlier recognition of allowance for losses. In November 2019, the FASB issued Accounting Standards Update 2019-10, which deferred the effective date for nonpublic entities, including emerging growth companies, that had not yet adopted ASU 2016-13. Under the amended guidance, the standard will be effective for our fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption permitted. The adoption of ASU 2016-13 is not expected to have a material impact on our condensed consolidated financial statements and related disclosures.

INVENTORY

INVENTORY	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Finished goods $ 135,199 $ 108,585 Reserve to reduce inventories to net realizable value (8,729) (1,709) Total inventory $ 126,470 $ 106,876

PROPERTY AND EQUIPMENT - NET

PROPERTY AND EQUIPMENT - NET	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT - NET	PROPERTY AND EQUIPMENT - NET Property and equipment consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Leasehold improvements $ 37,025 $ 27,137 Furniture and fixtures 22,697 15,276 Internal-use software 20,706 14,453 Machinery and equipment 885 780 Computers and equipment 1,724 1,236 Total property and equipment - gross 83,037 58,882 Less: accumulated depreciation and amortization (30,826) (20,927) Total property and equipment - net $ 52,211 $ 37,955 Depreciation and amortization expense for the three and nine months ended September 30, 2022 was $4.1 million and $11.2 million, respectively, and for the three and nine months ended September 30, 2021 was $2.4 million and $6.7 million, respectively, recognized in selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss. As of September 30, 2022 and December 31, 2021, unamortized capitalized internal-use software costs were $14.6 million and $10.6 million, respectively.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Prepaid expenses $ 6,670 $ 7,865 Inventory returns receivable 760 1,351 Security deposits 823 1,106 Tax receivable 21,036 22,594 Other receivables 5,034 5,022 Restricted cash 630 — Total prepaid expenses and other current assets $ 34,953 $ 37,938 In the second quarter of 2022, the receipt of a refund associated with a tax loss carryback was determined to extend past 12 months, based on current facts and circumstances. Therefore, $3.8 million of tax receivable was reclassified from prepaid expenses and other current assets, where it was recorded in periods prior to June 30, 2022, to other assets on the condensed consolidated balance sheet as of June 30, 2022

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Investment in equity securities $ 2,250 $ 2,250 Tax receivable 3,839 — Security deposits 3,569 3,025 Intangible assets 255 622 Debt issuance costs 70 107 Deferred tax assets 102 102 Total other assets $ 10,085 $ 6,106 Investment in Equity Securities On November 20, 2020, we entered into an agreement to make a minority equity investment of $2.0 million in Natural Fiber Welding, Inc. (“NFW”) in exchange for 201,207 shares of Series A-3 Preferred Stock. Our investment is carried at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Throughout the year, we assess whether impairment indicators exist to trigger the performance of an impairment analysis. There were no impairment charges or observable price changes for the three and nine months ended September 30, 2022. On November 22, 2021, we made a $0.3 million investment in NoHo ESG, Inc. (“NoHo ESG”) via a simple agreement for future equity (“SAFE”). The SAFE provides that we will automatically receive shares of the entity based on the conversion rate of future equity rounds up to a valuation cap. If there is a liquidity event, such as a change in control or initial public offering, we will have the option of receiving a cash payment equal to the purchase amount or receiving a number of shares of common stock based on the purchase amount divided by the liquidity price, assuming we fail to select the cash option. Our investment is carried at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Throughout the year, we assess whether impairment indicators exist to trigger the performance of an impairment analysis. There were no impairment charges or observable price changes for the three and nine months ended September 30, 2022. Definite-lived Intangible Assets Intangible assets include intellectual property purchased from West Harbor Technologies, LLC for $1.3 million, including transaction costs of $0.1 million, in January 2020. The intangible asset has an estimated useful life of 3 years, and we recorded amortization charges of $0.1 million and $0.3 million for the three and nine months ended September 30, 2022, respectively, and $0.1 million and $0.3 million for the three and nine months ended September 30, 2021, respectively, which are recognized as selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Sales-refund reserve $ 3,189 $ 5,452 Taxes payable 19,280 17,930 Employee-related liabilities 5,972 5,021 Accrued expenses 13,907 17,840 Total accrued expenses and other current liabilities $ 42,348 $ 46,243

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Items Measured at Fair Value on a Recurring Basis Warrant Liability —The fair value of our preferred stock warrant liability was based on significant unobservable inputs, which represent Level 3 measurements within the fair value hierarchy. In determining the fair value of the convertible preferred stock warrant liability, we used the probability weighted average values from (i) a Black-Scholes calculation and (ii) an option pricing model. We measure and report our preferred stock warrant liability at the estimated fair value on a recurring basis. As discussed further in Note 11, Warrants , the preferred stock warrant liability was estimated using assumptions related to the remaining contractual term of the warrants, the risk-free interest rate and volatility of comparable public companies over the remaining term, and the fair value of underlying shares. The significant unobservable inputs used in the fair value measurement of the preferred stock warrant liability were the fair value of the underlying stock at the valuation date and the estimated term of the warrants. The value from the Black-Scholes calculation reflects the value in an initial public offering scenario with the contractual term of the warrants, which was weighted by management’s estimated probability of a potential initial public offering at the applicable valuation date. The value from the option pricing model reflects the value in an alternative exit scenario at which point the warrants were expected to be exercised. Generally, increases or decreases in the fair value of the underlying stock and estimated term would result in a directionally similar impact to the fair value measurement. In November 2021, immediately prior to the completion of the IPO and pursuant to the terms of the convertible preferred stock warrants, there was an automatic exchange of the outstanding convertible preferred stock warrants for shares of Class B common stock on a one-to-one basis. As a result, the final remeasurement date of the preferred stock warrant liability was on November 3, 2021, and the preferred stock warrant liability was reclassified to additional paid-in capital. As of September 30, 2022 and December 31, 2021, there was no preferred stock warrant liability remaining on our condensed consolidated balance sheets; therefore, there was no impact to other income (expense) for the three and nine months ended September 30, 2022. The following tables present a summary of the changes in fair value of our Level 3 liabilities for the three and nine months ended September 30, 2021, included within other income (expense) in our condensed consolidated statements of operations and comprehensive loss: (in thousands) Warrants Balance at June 30, 2021 $ 11,243 Increase in fair value included in other income (expense) 1,844 Balance at September 30, 2021 $ 13,087 (in thousands) Warrants Balance at December 31, 2020 $ 5,845 Increase in fair value included in other income (expense) 7,242 Balance at September 30, 2021 $ 13,087 Items Measured at Fair Value on a Non-Recurring Basis Equity Investments —Our equity investments in NFW and Noho ESG represent non-marketable equity securities in privately held companies that do not have a readily determinable fair value and are accounted for under the measurement alternative in ASC 321. The investments are accounted for at cost and adjusted based on observable price changes from orderly transactions for identical or similar investments of the same issuer or impairment. During the three and nine months ended September 30, 2022 and 2021, there were no observable price changes or impairments. As of September 30, 2022 and December 31, 2021, the carrying value of our investments was $2.3 million.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT On February 20, 2019, we entered into a credit agreement with JPMorgan Chase Bank, N.A. (the “Credit Agreement”). The Credit Agreement is an asset-based loan with a revolving line of credit of up to $40.0 million and an optional accordion, which, if exercised, would allow us to increase the aggregate commitment by up to $35.0 million, subject to obtaining additional lender commitments and satisfying certain conditions. Pursuant to the terms of the revolving credit facility, we may reduce the total amount available for borrowing under such facility, subject to certain conditions. The Credit Agreement has a maturity date of February 20, 2024. Borrowings under our revolving credit facility use the London Interbank Offered Rate (“LIBOR”) as a reference rate. Interest on borrowings under the revolving credit facility accrues at a variable rate equal to (i) the one-month LIBOR (adjusted LIBOR Rate for a one month interest period on a given day) plus 2.50%, plus (ii) a specified spread of 1.25% or 1.5% dependent on the average quarterly loan balance, calculated on the last day of each fiscal quarter being less than $32.0 million or greater than or equal to $32.0 million, respectively. The commitment fee under the Credit Agreement is 0.20% per annum on the average daily unused portion of each lender’s commitment. In addition, we are required to pay a fronting fee of 0.125% per annum on the average daily aggregate face amount of issued and outstanding letters of credit. Interest, commitment fees and fronting fees are payable monthly, in arrears. In July 2017, the United Kingdom’s Financial Conduct Authority announced its intention to stop compelling banks to submit LIBOR rates after 2021. While the potential impacts of these actions cannot be fully predicted and may result in additional exposure to interest rate risk, our borrowings under the revolving credit facility use the one-month LIBOR as a reference rate, which would not be affected until after June 30, 2023. The Credit Agreement contains customary events of default and financial covenants. As of September 30, 2022 and December 31, 2021, we were in compliance with these covenants. As of September 30, 2022 and December 31, 2021, there were no amounts outstanding under the Credit Agreement.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY As of September 30, 2022 and December 31, 2021, we were authorized to issue 2,220,000,000 shares of capital stock, comprised of 2,000,000,000 shares of Class A common stock, 200,000,000 shares of Class B common stock, and 20,000,000 shares of preferred stock. Each class had a par value of $0.0001. Preferred Stock In November 2021, immediately prior to the completion of the IPO, all 70,990,919 shares of convertible preferred stock converted into an equivalent number of shares of Class B common stock, and we reclassified $204.0 million of convertible preferred stock to additional paid-in capital. As of September 30, 2022 and December 31, 2021, there were no shares of convertible preferred stock issued and outstanding. Common Stock As of September 30, 2022 and December 31, 2021, we had two classes of common stock: Class A common stock and Class B common stock. Each class had a par value of $0.0001. In September 2021, prior to the completion of the IPO, we filed our Eighth Amended and Restated Certificate of Incorporation and implemented a dual class common stock structure where all existing shares of common stock were reclassified into Class B common stock on a one-to-one basis and we also authorized a new class of common stock, the Class A common stock. Authorized capital stock was 2,275,812,755 shares, of which 2,000,000,000 shares was Class A common stock, 200,000,000 shares was Class B common stock, and 75,812,755 shares was preferred stock. The common stock and the preferred stock each had a par value of $0.0001 per share. Voting — Holders of Class A common stock are entitled to one vote per share on all matters to be voted upon by the stockholders, and holders of Class B common stock are entitled to 10 votes per share on all matters to be voted upon by the stockholders. The holders of our Class A common stock and Class B common stock generally vote together as a single class on all matters submitted to a vote of our stockholders, unless otherwise required by Delaware law or our amended and restated certificate of incorporation. Delaware law could require either holders of our Class A common stock or Class B common stock to vote separately as a single class in the following circumstances: (i) if we were to seek to amend our amended and restated certificate of incorporation to increase or decrease the par value of a class of our capital stock, then that class would be required to vote separately to approve the proposed amendment; and (ii) if we were to seek to amend our amended and restated certificate of incorporation in a manner that alters or changes the powers, preferences or special rights of a class of our capital stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed amendment. As a result, in these limited instances, the holders of a majority of the Class A common stock could defeat an amendment to our amended and restated certificate of incorporation. Our amended and restated certificate of incorporation does not provide for cumulative voting for the election of directors. Dividends — Holders of Class A common stock and Class B common stock are entitled to ratably receive dividends if, as and when declared from time to time by our board of directors at its own discretion out of funds legally available for that purpose, after payment of dividends required to be paid on outstanding preferred stock, if any. Under Delaware law, we can only pay dividends either out of “surplus” or out of the current or the immediately preceding year’s net profits. Surplus is defined as the excess, if any, at any given time, of the total assets of a corporation over its total liabilities and statutory capital. The value of a corporation’s assets can be measured in a number of ways and may not necessarily equal their book value. Right to Receive Liquidation Distributions — Upon our dissolution, liquidation or winding-up, the assets legally available for distribution to our stockholders are distributable ratably among the holders of our Class A common stock and Class B common stock, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights and payment of liquidation preferences, if any, on any outstanding shares of preferred stock. Conversion — Each share of our Class B common stock is convertible at any time at the option of the holder into one share of our Class A common stock. Each share of our Class B common stock will convert automatically into one share of our Class A common stock upon any transfer, whether or not for value, except for (i) certain permitted transfers to entities, to the extent the transferor retains sole dispositive power and exclusive voting control with respect to the shares of Class B common stock, and (ii) certain other permitted transfers described in our amended and restated certificate of incorporation. In addition, if held by a natural person (including a natural person serving in a sole trustee capacity), each share of our Class B common stock will convert automatically into one share of our Class A common stock upon the death or incapacity of such natural person as described in our amended and restated certificate of incorporation. All outstanding shares of our Class B common stock will convert automatically into an equivalent number of shares of our Class A common stock upon the final conversion date, defined as the later of (a) the last trading day of the fiscal quarter immediately following the tenth anniversary of September 21, 2021 and (b) the date fixed by our board of directors that is no less than 61 days and no more than 180 days following the date on which the outstanding shares of Class B common stock first represent less than 10% of the aggregate number of the then outstanding shares of Class A common stock and Class B common stock (except if the final conversion date determined according to (a) or (b) would otherwise occur on or after the record date of any meeting of stockholders and before or at the time the vote at such meeting is taken, then the final conversion date shall instead be the last trading day of the fiscal quarter during which such vote was taken). Other Matters — The Class A common stock and Class B common stock have no preemptive rights pursuant to the terms of our amended and restated certificate of incorporation and our amended and restated bylaws. There are no redemption or sinking fund provisions applicable to the Class A common stock and Class B common stock. All outstanding shares of our Class A common stock are fully paid and non-assessable. Shares of common stock reserved for future issuance as of September 30, 2022 and December 31, 2021 consist of the following: September 30, December 31, Shares reserved for convertible preferred stock outstanding — — 2015 Equity Incentive Plan: Options issued and outstanding 13,164,180 16,181,331 Shares available for future option grants — — 2021 Equity Incentive Plan: Options issued and outstanding 2,426,088 189,342 Restricted stock units outstanding 5,081,676 160,227 Performance stock units outstanding 787,660 — Shares available for future grants 13,677,314 14,306,487 2021 Employee Stock Purchase Plan: Shares available for future grants 4,230,831 2,932,232 Total shares of common stock reserved for future issuance 39,367,749 33,769,619

WARRANTS

WARRANTS	9 Months Ended
	Sep. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
WARRANTS	WARRANTS Preferred Stock Warrant s In connection with a 2015 agreement with Venture Lending and Leasing VII and Venture Lending and Leasing VIII (the “VLL Agreement”), we issued warrants to purchase 1,104,560 shares of our Preferred Stock at an exercise price of $0.10 that would have expired on September 30, 2026 with an initial fair value of $0.8 million. The preferred stock warrants contained a down round and anti-dilution adjustment provision on the exercise price. We would have recognized, on a prospective basis, the value of the effect of the down round feature in the warrant when it was triggered (i.e., when the exercise price is adjusted downward). This value is measured as the difference between (1) the financial instrument’s fair value (without the down round feature) using the pre-trigger exercise price and (2) the financial instrument’s fair value (with the down round feature) using the reduced exercise price. The value of the effect of the down round feature would have been reflected in the change in fair value of the warrant liability. The preferred stock warrants could have been exercised in whole or in part at any time and included a cashless exercise option which would have allowed the holder to receive fewer shares of stock in exchange for the warrants rather than paying cash to exercise. The preferred stock warrants could have been exercised for either Series Seed Preferred Stock or Series A Preferred Stock. In November 2021, immediately prior to the completion of the IPO and per the terms of the preferred stock warrant agreement, the convertible preferred stock warrants then outstanding were automatically exchanged for 1,104,560 shares of Class B common stock on a one-to-one basis and we reclassified the preferred stock warrant liability to additional paid-in capital upon the conversion. As of September 30, 2022 and December 31, 2021, there were no preferred stock warrants outstanding. The preferred stock warrants were classified as a liability and initially recorded at fair value upon entering the VLL Agreement. The value of our Preferred Stock warrants were estimated using the probability weighted-average values from (i) a Black-Scholes calculation and (ii) an option pricing model. It was subsequently remeasured to fair value at each reporting date and the changes in the fair value of the warrant liability were recognized in other income (expense) in the condensed consolidated statements of operations and comprehensive loss. As of September 30, 2022 and December 31, 2021, we had no preferred stock warrant liability recorded on our condensed consolidated balance sheets. Common Stock Warrants Through 2019, we issued warrants to purchase common stock to various third parties. We determined the fair value of these warrants using the Black-Scholes option pricing model. The following tables are summaries of the terms of the warrants and warrant activity: Date of issuance October 2015/ March 2016 October 2016 July 2018 - Allotment 1 July 2018 - Allotment 2 Number of warrants 2,103,930 157,580 122,735 184,100 Exercise Price $ 0.10 $ 0.07 $ 1.28 $ 1.28 Status Vested Vested Vested Vested Expiration October 2024 October 2026 July 2028 July 2028 Date of issuance October 2015/ March 2016 October 2016 July 2018 Outstanding at December 31, 2020 717,225 157,580 306,835 Exercised during the nine months ended September 30, 2021 — — 276,151 Outstanding at September 30, 2021 717,225 157,580 30,684 Outstanding at December 31, 2021 — — 30,684 Exercised during the nine months ended September 30, 2022 — — 30,684 Outstanding at September 30, 2022 — — — Fair value at September 30, 2022 (in thousands) $ — $ — $ — In February 2022, we issued 21,967 shares of our Class B common stock to a warrant holder upon the cashless net exercise of a total of 25,570 warrants, and in August 2022, we issued 3,750 shares of our Class B common stock to a warrant holder upon the cashless net exercise of a total of 5,114 warrants, each with an exercise price of $1.282. Therefore, as of September 30, 2022, there were no common stock warrants outstanding. July 2018 Common Stock Warrants— In July 2018, as part of an agreement with West Investments V, LLC for various marketing services, we issued 122,735 warrants to purchase common stock to a third party with an exercise price of $1.28. Fifty percent of the warrants vested immediately upon issuance and the remainder of the warrants vest ratably over 24 months. An additional 184,100 warrants to purchase common stock were also issued in July 2018 to the same third-party with an exercise price of $1.28, and vested ratably over 36 months beginning in 2019 when services were first rendered. In accordance with the agreement, expenses are recognized in the period services are received. We recorded $0.0 million and $1.0 million in common stock warrant expense for the three and nine months ended September 30, 2022, respectively, and $0.5 million and $1.1 million for the three and nine months ended September 30, 2021, respectively.

STOCK TRANSACTIONS

STOCK TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCK TRANSACTIONS	STOCK TRANSACTIONS On September 5, 2018, we received a promissory note from an employee in consideration for the early exercise of 825,000 shares of common stock options. In June 2020, the employee resigned from the company and the promissory note was amended and restated to reflect the loan amount related to the vested shares, and the cancellation of indebtedness and our repurchase of the employee’s unvested shares. The promissory note is secured by the underlying shares of common stock and bears interest at the lesser of 2.86% per annum or the maximum rate permissible by law (which under the laws of the State of California shall be deemed to be the laws relating to permissible rates of interest on commercial loans). During the third quarter of 2022, the promissory note was paid in full, including all accrued interest. The repayment of $0.5 million was recognized in additional paid-in capital in stockholder’s equity on the condensed consolidated balance sheet. The associated shares are legally outstanding and were historically included in shares of common stock outstanding in the condensed consolidated financial statements, but were historically excluded from our net loss per share calculations, as these shares of common stock were considered unvested until the underlying promissory notes were repaid. After repayment of the loan, the vested shares are now considered outstanding for purposes of our net loss per share calculations. On November 19, 2018, we received a promissory note from an employee in consideration for the early exercise of 220,000 shares of common stock options. The promissory note is secured by the underlying shares of common stock and bears interest at 2.86% per annum. As of September 30, 2022, the promissory note was outstanding. Since the notes are limited recourse notes, the note receivables are not reflected in our condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION 2015 Equity Incentive Plan In 2015, we adopted the 2015 Equity Incentive Plan (the “2015 Plan”) that authorized the granting of options for shares of common stock. Our 2015 Plan provided for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit (“RSU”) awards, and other stock awards. The 2015 Plan was terminated in connection with the adoption of the 2021 Equity Incentive Plan (the “2021 Plan”) in November 2021 in connection with the IPO, and we will not grant any additional awards under the 2015 Plan. However, the 2015 Plan will continue to govern the terms and conditions of the outstanding awards previously granted thereunder. 2021 Equity Incentive Plan In September 2021, our board of directors adopted, and our stockholders approved, the 2021 Plan, which became effective in connection with the IPO in November 2021. The 2021 Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, RSU awards, performance awards, and other forms of equity compensation. A total of 21,062,853 shares of our Class A common stock have been reserved for issuance under the 2021 Plan. In addition, the number of shares of our Class A common stock reserved for issuance under the 2021 Plan will automatically increase on January 1 of each year for a period of 10 years, beginning on January 1, 2022 and continuing through (and including) January 1, 2031, in an amount equal to 4% of the total number of share of our common stock (both Class A and Class B) outstanding on December 31 of the immediately preceding year, except that, before the date of any such increase, our board of directors may determine that the increase for such year will be the lesser number of shares. Additionally, to the extent that any stock options outstanding under the 2015 Plan expire, terminate prior to exercise, are not issued because the award is settled in cash, are forfeited because of the failure to vest, or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price, if any, the shares of Class B common stock reserved for issuance pursuant to such equity awards will become available for issuance as shares of Class A common stock under the 2021 Plan. The maximum number of shares of our Class A common stock that may be issued on the exercise of incentive stock options under the 2021 Plan will be 100,000,000 shares. 2021 Employee Stock Purchase Plan In September 2021, our board of directors adopted, and our stockholders approved, the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which became effective in connection with the IPO in November 2021. The 2021 ESPP authorizes the issuance of shares of Class A common stock pursuant to purchase rights granted to employees. A total of 4,402,757 shares of our Class A common stock have been reserved for issuance under the 2021 ESPP. The number of shares of our Class A common stock reserved for issuance will automatically increase on January 1 of each year for a period of 10 years, beginning on January 1, 2022 and continuing through (and including) January 1, 2031, by the lesser of (1) 1% of the total number of shares of our common stock (both Class A and Class B) outstanding on December 31 of the immediately preceding year and (2) 2,850,000 shares, except that, before the date of any such increase, our board of directors may determine that such increase will be less than the amount set forth in clauses (1) and (2). The price at which Class A common stock is purchased under the 2021 ESPP is equal to 85% of the fair market value of a share of our Class A common stock on the first day of the offering period, or the date of purchase, whichever is lower. Offering periods are six months long and begin on November 3 and May 3 of each year. The initial offering period began on November 3, 2021 and ended on May 2, 2022. The second offering period began on May 3, 2022 and will end on November 2, 2022. Stock Options A summary of the status of the 2015 Plan and 2021 Plan as of December 31, 2021 and September 30, 2022, and changes during the nine month period ended September 30, 2022, is presented below: Options Outstanding Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2021 16,370,673 $ 4.23 7.70 $ 177,593 Granted 2,298,160 4.61 Exercised (1,734,516) 1.47 9,555 Forfeited (1,092,624) 4.68 Cancelled (251,425) 5.11 Outstanding at September 30, 2022 15,590,268 3.74 6.79 7,855 Vested and exercisable at September 30, 2022 8,809,969 3.17 5.48 — The weighted-average fair value of options granted during the three and nine months ended September 30, 2022 was $1.80 and $2.69 per share, respectively, and $5.26 and $6.85 for the three and nine months ended September 30, 2021, respectively. We calculated the fair value of each option using an expected volatility over the expected life of the option, which was estimated using the average volatility of comparable publicly traded companies. The expected life of options granted is based on the simplified method to estimate the expected life of the stock options, giving consideration to the contractual terms and vesting schedules. The following weighted average assumptions were used for issuances during the three and nine months ended September 30, 2022 and 2021, for employees and non-employees: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Risk-free interest rate 2.86 % 0.90 % 2.78 % 0.95 % Dividend yield — — — — Volatility 43.42 % 51.33 % 47.28 % 51.76 % Expected lives (in years) 6.13 5.96 5.92 5.97 Option Repricing— In May 2022, the compensation and leadership management committee of our board of directors approved a repricing of certain stock options held by employees (the “Repricing”), whereby certain previously granted and still outstanding vested and unvested stock options were repriced on a one-for-one basis to $4.39 per share, which represented the closing market price of our Class A common stock on May 20, 2022 (the “Repricing Date”). No other terms of the repriced stock options were modified, and the repriced stock options will continue to vest according to their original vesting schedules and will retain their original expiration dates. As a result of the Repricing, vested and unvested stock options outstanding as of the Repricing Date, with original exercise prices ranging from $4.70 to $14.45, were repriced. The repricing resulted in one-time incremental stock-based compensation expense of $1.6 million, of which $0.1 million was related to vested stock options and was recognized on the Repricing Date in the second quarter of 2022, and $1.5 million was related to unvested stock options, which will be recognized on a straight-line basis over the remaining requisite service period of the repriced stock options. 2021 ESPP The following table summarizes the weighted-average assumptions used in estimating the fair value of the 2021 ESPP grants for the offering period beginning on November 3, 2021 and ending on May 2, 2022, and the offering period beginning on May 3, 2022 and ending on November 2, 2022, using the Black Scholes option-pricing model: Offering Period - November 3, 2021 to May 2, 2022 Offering Period - May 3, 2022 to November 2, 2022 Risk-free interest rate 1.63 % 2.97 % Dividend yield — — Volatility 63.00 % 47.15 % Expected lives (years) 0.6 0.5 RSUs After completion of the IPO in November 2021, we began granting RSUs to certain employees. The RSUs granted have service-based vesting conditions. The service-based vesting condition for awards to new employees is typically satisfied over four years, with a cliff vesting period of one year and continued vesting quarterly thereafter. The service-based vesting condition for refresh grants of RSUs to existing employees is typically satisfied over three years with vesting occurring quarterly, subject to the employees’ continued service to us. RSUs and the related stock-based compensation are recognized on a straight-line basis over the requisite service period. RSU activity during the nine months ended September 30, 2022 was as follows: Number of Shares Weighted-Average Grant Date Fair Value per Share Unvested at December 31, 2021 160,227 $ 22.33 Granted 5,733,376 4.79 Vested (367,414) 4.56 Forfeited (444,513) 5.99 Unvested at September 30, 2022 5,081,676 $ 5.25 Performance Stock Units In May 2022, we granted a target amount of 0.8 million RSUs with market-based and service-based vesting conditions (“PSUs”) to certain executives. The market vesting criteria is based on achievement of certain total shareholder return (“TSR”) results relative to the S&P Total Market Consumer Discretionary Index (the “Index”) during a one-year, two-year, and three-year performance period, respectively, beginning on June 1, 2022, and ending on May 31, 2025. The market condition allows for a range of vesting from 0% to 150% of the target amount, depending on the relative TSR achieved by us against the Index. In addition to the market condition, these PSUs are subject to the continuing service of the executives and vest in three equal annual installments. The fair value of PSUs is measured on the grant date using a Monte Carlo simulation model. Each of the three performance periods is considered an individual tranche of the award (referred to as "Tranche 1," "Tranche 2" and "Tranche 3," respectively). Number of Shares Grant Date Fair Value per Share Requisite Service Period Tranche 1 262,553 $ 4.77 June 1, 2022 - May 31, 2023 Tranche 2 262,553 $ 5.16 June 1, 2022 - May 31, 2024 Tranche 3 262,554 $ 5.41 June 1, 2022 - May 31, 2025 The total grant date fair value of the awards was determined to be $4.0 million, with each tranche of the awards representing $1.3 million, $1.4 million, and $1.4 million of the total expense, respectively. Stock-based compensation expense related to PSUs is recognized on a straight-line basis over their requisite service periods, regardless of whether the market condition is ultimately satisfied. Stock-based compensation expense is not reversed if the achievement of the market condition does not occur. We recognized stock-based compensation expense of $0.6 million and $0.8 million, respectively, for the three and nine months ended September 30, 2022 as selling, general and administrative expense in the condensed consolidated statements of operations and comprehensive loss related to these awards. We recognized no stock-based compensation expense for these awards prior to May 2022. PSU activity during the nine months ended September 30, 2022 was as follows: Target Number of Shares Weighted-Average Grant Date Fair Value per Share Unvested at December 31, 2021 — $ — Granted 787,660 5.11 Unvested at September 30, 2022 787,660 $ 5.11 Stock-Based Compensation Expense Stock-based compensation expense, included in selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2022 and 2021, was comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Stock-based compensation, net of amounts capitalized $ 5,793 $ 1,725 $ 13,942 $ 6,553 Capitalized stock-based compensation 333 — 892 — Total stock-based compensation $ 6,126 $ 1,725 $ 14,834 $ 6,553 As of September 30, 2022, there was approximately $20.8 million of total unrecognized compensation cost related to unvested stock options granted under both equity incentive plans, which is expected to be recognized over the weighted-average remaining vesting period of approximately 2.35 years. There was approximately $23.9 million of total unrecognized compensation cost related to outstanding unvested RSUs under the 2021 Plan, which is expected to be recognized over the weighted-average remaining vesting period of approximately 2.74 years. There was approximately $3.2 million of total unrecognized compensation cost related to outstanding unvested PSUs under the 2021 Plan, which is expected to be recognized over the weighted-average remaining vesting period of approximately 2.67 years.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax benefit (provision) was $0.2 million and ($2.0) million for the three and nine months ended September 30, 2022, respectively, and $0.2 million and ($0.3) million for the three and nine months ended September 30, 2021, respectively. The effective tax rate for the three and nine months ended September 30, 2022 was (0.6%) and 2.6%, respectively, compared to (1.2)% and 0.8% for the three and nine months ended September 30, 2021, respectively. The increase in provision for income taxes and effective tax rate is primarily due to withholding tax obligations in the United States on royalties from foreign jurisdictions. Our tax provision for income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any. Each quarter, we update our estimate of the annual effective tax rate and make a year-to-date adjustment to the provision.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings —We are subject to various claims and legal proceedings that arise in the ordinary course of our business activities. Although the outcome of any legal proceedings cannot be predicted with certainty, as of September 30, 2022, the ultimate liability of the Company, if any, is not expected to have a material effect on our financial position or operations.

NET LOSS PER SHARE

NET LOSS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE We compute net loss per share using the two-class method required for participating securities and multiple classes of common stock. The two-class method requires net income or loss be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income or loss for the period had been distributed. The rights, including the liquidation and dividend rights and sharing of losses of the Class A common stock and Class B common stock are identical, other than voting, transfer, and conversion rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2022 2021 2022 2021 Numerator: Net loss attributable to common stockholders $ (25,241) $ (13,802) $ (76,489) $ (34,930) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 149,267,269 55,590,320 148,481,459 54,631,455 Net loss per share attributable to common stockholders, basic and diluted $ (0.17) $ (0.25) $ (0.52) $ (0.64) The following shares of preferred stock and common stock were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been anti-dilutive: September 30, September 30, Outstanding stock options 15,590,268 17,957,111 Convertible preferred stock — 70,990,919 Convertible preferred stock warrants — 1,104,560 Common stock warrants — 936,172 2021 ESPP 53,803 — RSUs 5,081,676 — PSUs 787,660 — Total anti-dilutive securities 21,513,407 90,988,762

BENEFIT PLAN

BENEFIT PLAN	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
BENEFIT PLAN	BENEFIT PLANWe sponsor a 401(k) defined contribution plan covering eligible employees who elect to participate. We are allowed to make discretionary profit sharing and matching contributions as defined in the plan and as approved by our board of directors. No discretionary profit-sharing contributions were made for the three and nine months ended September 30, 2022 and 2021. We made $0.4 million and $1.0 million in matching contributions for the three and nine months ended September 30, 2022, respectively, and $0.4 million and $0.9 million for the three and nine months ended September 30, 2021, respectively. We have no intention to terminate the plan.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSWe have evaluated events occurring through November 9, 2022, the date the condensed consolidated financial statements were available for issuance, and have determined there are no subsequent events that require disclosure in these condensed consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation —The accompanying unaudited condensed consolidated financial statements have been presented in U.S. dollars and prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the U.S. 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. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 16, 2022 (the “Form 10-K”). In the opinion of management, the accompanying unaudited condensed interim financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. The condensed consolidated balance sheet as of
Principles of Consolidation	Principles of Consolidation—The condensed consolidated financial statements include the accounts of Allbirds, Inc. and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates —The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Segments	Segments —Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by our chief operating decision maker (“CODM”), in deciding how to allocate resources to an individual segment and in assessing performance. Our CODMs are the co-Chief Executive Officers. We operate in one operating segment and one reportable segment, as the CODMs review financial information presented on an aggregate basis for purposes of making operating decisions, allocating resources, and evaluating financial performance.
Accounts Receivable	Accounts Receivable —Accounts receivable results from sales to customers, including credit card deposits in transit at the balance sheet date, the majority of which are settled within two three During the fourth quarter of 2021, we made an accounting policy change to present customer accounts receivables that are not credit card receivables, within the accounts receivable line on the condensed consolidated balance sheet to align with management’s reporting. These types of receivables were historically immaterial and are included in prepaid and other current assets within the condensed consolidated financial statements and accompanying footnotes for periods presented prior to the fourth quarter of 2021.
Inventory	Inventory —Inventory consists of finished goods, stated at the lower of cost or net realizable value. We value our inventory using the weighted-average cost method and include product costs from our suppliers, freight, import duties and other landing costs. We periodically review inventory and make provisions as necessary to appropriately value end of life, slow-moving, damaged, and excess inventory. To determine if the value of inventory requires a write-down, we estimate the net realizable value of inventory by considering current and anticipated demand, customer preferences and buying trends, and the age of the merchandise. Inventory write-downs are recognized in cost of revenue in the
Revenue Recognition	Revenue Recognition —Our primary source of revenue is from sales of shoes and apparel products. We recognize revenue when control passes to the customer. This occurs at the time products are shipped to customers for orders placed online, and at the point of sale for retail sales in the store, which is when our performance obligation is satisfied. For the three and nine months ended September 30, 2022, we recognized $1.0 million and $3.1 million, respectively, of revenue that was deferred as of December 31, 2021, and for the three and nine months ended September 30, 2021, we recognized $0.8 million and $2.4 million, respectively, of revenue that was deferred as of December 31, 2020. As of September 30, 2022 and December 31, 2021, we had $0.3 million and $0.7 million, respectively, in cash collections of purchases via our digital channel which had not yet shipped, and $3.1 million and $3.5 million, respectively, in gift card liabilities included in deferred revenue in the condensed consolidated balance sheets. The deferred revenue balance of $3.4 million at September 30, 2022 is expected to be recognized over the next 12 months. We record a reserve for estimated product returns, based upon historical return trends, in each reporting period as an offsetting decrease of net revenue, with an increase to our sales-refund reserve in accrued expenses. We have also recorded a related inventory returns receivable in prepaid expenses and other current assets, with an offsetting decrease to cost of revenue, as of September 30, 2022 and December 31, 2021 in the condensed consolidated balance sheets.
Restricted Cash	Restricted Cash—Restricted cash serves as collateral for a bond with the United States Customs and Border Protection (“CBP”), which allows us to take possession of our inventory before all formalities with the CBP are completed for imported products.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions—The functional currency for each subsidiary included in these condensed consolidated financial statements that is domiciled outside of the United States is generally the applicable local currency of that country. Adjustments resulting from translating foreign functional currency financial statements of our global subsidiaries into U.S. dollars are included in the foreign currency translation adjustment in other comprehensive loss, which is a component of accumulated other comprehensive income or loss included in stockholders' equity. The remeasurement of our global subsidiaries’ assets and liabilities, which are denominated in a foreign currency, are recorded in other income (expense), within the condensed consolidated statements of operations and comprehensive loss.
Fair Value Measurements	Fair Value Measurements —Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value under GAAP, and enhances disclosures about fair value measurements. It clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 —Observable inputs, such as quoted prices in active markets Level 2 —Inputs other than the quoted prices in active markets that are observable either directly or indirectly Level 3 —Unobservable inputs in which there is little or no market data, which requires us to develop our own assumptions. This hierarchy requires us to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. We record cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses at cost. The carrying values of these instruments approximate their fair value due to their short‐term maturities. We hold certain assets and liabilities that are required to be measured at fair value on both a recurring and non-recurring basis, which are outlined in Note 8, Fair Value Measurements .
Exit Activities	Exit Activities —In the third quarter of 2022, we announced plans to streamline workflows and lower operating costs. As part of this effort, we reduced our global corporate workforce by terminating 23 individuals, representing approximately 8% of our global corporate workforce, resulting in severance and employee-related termination costs, including stock-based compensation, recognized during the third quarter of 2022 within selling, general, and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. We expect to complete remaining reductions by the end of 2022, and we expect the expense associated with these terminations to be immaterial. In addition, we ceased the use of one of our corporate office leases in the United States and recognized immaterial cease use charges within selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss. We plan to move out of an additional corporate office lease in the United States in the fourth quarter of 2022, and until the cease use date is known, the timing and fair value of expenses incurred as a result of the cease use cannot be reasonably estimated.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the FASB issued Accounting Standards Update 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for public business entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. We adopted this update as of January 1, 2022, and noted no effect on the condensed consolidated financial statements and related disclosures. In October 2020, the FASB issued Accounting Standards Update 2020-10, Codification Improvements , which updated various codification topics by clarifying or improving disclosure requirements to align with the SEC’s regulations. We adopted this update as of January 1, 2022, and noted no effect on the condensed consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”), which requires recognition of lease assets and lease liabilities in the balance sheet by the lessees for lease contracts with a lease term of more than 12 months. ASU 2016-02 can be applied on a modified retrospective basis, in which entities can present all prior periods under previous lease accounting guidance while recognizing the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earnings in the year of adoption. In June 2020, the FASB issued Accounting Standards Update 2020-05, Effective Dates for Certain Entities, which deferred the effective date for nonpublic entities, including emerging growth companies, that had not yet adopted ASU 2016-02. Under the amended guidance, the leasing standard will be effective for our fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. We intend to adopt the standards and related disclosures for our fiscal year ending December 31, 2022, and interim periods within our fiscal year ending December 31, 2023. Based on our lease portfolio as of January 1, 2022, we preliminarily estimate the impact of adoption of ASU 2016-02 to increase our total assets in the range of $65 million to $80 million and our total liabilities in the range of $75 million to $90 million. We do not expect a material impact on our consolidated statements of operations and comprehensive loss. As we continue to finalize the implementation of new processes and the assessment of the impact of this adoption on our consolidated financial statements, the preliminary estimated impacts disclosed can change and the final impact will be known once the adoption is completed during the fourth quarter of 2022. In June 2016, the FASB issued Accounting Standards Update 2016-13, Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires entities to use a forward-looking approach based on current expected credit losses to estimate credit losses on certain types of financial instruments, including trade and account receivables, which may result in the earlier recognition of allowance for losses. In November 2019, the FASB issued Accounting Standards Update 2019-10, which deferred the effective date for nonpublic entities, including emerging growth companies, that had not yet adopted ASU 2016-13. Under the amended guidance, the standard will be effective for our fiscal years beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption permitted. The adoption of ASU 2016-13 is not expected to have a material impact on our condensed consolidated financial statements and related disclosures.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Disaggregation of Revenue	Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 United States $ 56,083 $ 47,749 $ 164,229 $ 132,854 International 16,568 14,962 49,359 47,399 Total net revenue $ 72,651 $ 62,711 $ 213,588 $ 180,253
Restructuring and Related Costs	The following table presents a roll-forward of our severance and employee-related termination costs, which is included within accrued expenses and other current liabilities in the condensed consolidated balance sheets: (in thousands) Severance and employee-related termination costs Balance as of June 30, 2022 $ — Charges 665 Cash Payments (496) Balance as of September 30, 2022 $ 169

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Finished goods $ 135,199 $ 108,585 Reserve to reduce inventories to net realizable value (8,729) (1,709) Total inventory $ 126,470 $ 106,876

PROPERTY AND EQUIPMENT - NET (T

PROPERTY AND EQUIPMENT - NET (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Leasehold improvements $ 37,025 $ 27,137 Furniture and fixtures 22,697 15,276 Internal-use software 20,706 14,453 Machinery and equipment 885 780 Computers and equipment 1,724 1,236 Total property and equipment - gross 83,037 58,882 Less: accumulated depreciation and amortization (30,826) (20,927) Total property and equipment - net $ 52,211 $ 37,955

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Prepaid expenses $ 6,670 $ 7,865 Inventory returns receivable 760 1,351 Security deposits 823 1,106 Tax receivable 21,036 22,594 Other receivables 5,034 5,022 Restricted cash 630 — Total prepaid expenses and other current assets $ 34,953 $ 37,938

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Investment in equity securities $ 2,250 $ 2,250 Tax receivable 3,839 — Security deposits 3,569 3,025 Intangible assets 255 622 Debt issuance costs 70 107 Deferred tax assets 102 102 Total other assets $ 10,085 $ 6,106

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consisted of the following as of September 30, 2022 and December 31, 2021: (in thousands) September 30, December 31, Sales-refund reserve $ 3,189 $ 5,452 Taxes payable 19,280 17,930 Employee-related liabilities 5,972 5,021 Accrued expenses 13,907 17,840 Total accrued expenses and other current liabilities $ 42,348 $ 46,243

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Fair Value Changes of Level 3 Liabilities	The following tables present a summary of the changes in fair value of our Level 3 liabilities for the three and nine months ended September 30, 2021, included within other income (expense) in our condensed consolidated statements of operations and comprehensive loss: (in thousands) Warrants Balance at June 30, 2021 $ 11,243 Increase in fair value included in other income (expense) 1,844 Balance at September 30, 2021 $ 13,087 (in thousands) Warrants Balance at December 31, 2020 $ 5,845 Increase in fair value included in other income (expense) 7,242 Balance at September 30, 2021 $ 13,087

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Common Stock Reserved for Future Issuance	Shares of common stock reserved for future issuance as of September 30, 2022 and December 31, 2021 consist of the following: September 30, December 31, Shares reserved for convertible preferred stock outstanding — — 2015 Equity Incentive Plan: Options issued and outstanding 13,164,180 16,181,331 Shares available for future option grants — — 2021 Equity Incentive Plan: Options issued and outstanding 2,426,088 189,342 Restricted stock units outstanding 5,081,676 160,227 Performance stock units outstanding 787,660 — Shares available for future grants 13,677,314 14,306,487 2021 Employee Stock Purchase Plan: Shares available for future grants 4,230,831 2,932,232 Total shares of common stock reserved for future issuance 39,367,749 33,769,619

WARRANTS (Tables)

WARRANTS (Tables)	9 Months Ended
	Sep. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
Warrants and Rights Outstanding, Activity	The following tables are summaries of the terms of the warrants and warrant activity: Date of issuance October 2015/ March 2016 October 2016 July 2018 - Allotment 1 July 2018 - Allotment 2 Number of warrants 2,103,930 157,580 122,735 184,100 Exercise Price $ 0.10 $ 0.07 $ 1.28 $ 1.28 Status Vested Vested Vested Vested Expiration October 2024 October 2026 July 2028 July 2028 Date of issuance October 2015/ March 2016 October 2016 July 2018 Outstanding at December 31, 2020 717,225 157,580 306,835 Exercised during the nine months ended September 30, 2021 — — 276,151 Outstanding at September 30, 2021 717,225 157,580 30,684 Outstanding at December 31, 2021 — — 30,684 Exercised during the nine months ended September 30, 2022 — — 30,684 Outstanding at September 30, 2022 — — — Fair value at September 30, 2022 (in thousands) $ — $ — $ —

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Arrangement, Option, Activity	A summary of the status of the 2015 Plan and 2021 Plan as of December 31, 2021 and September 30, 2022, and changes during the nine month period ended September 30, 2022, is presented below: Options Outstanding Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2021 16,370,673 $ 4.23 7.70 $ 177,593 Granted 2,298,160 4.61 Exercised (1,734,516) 1.47 9,555 Forfeited (1,092,624) 4.68 Cancelled (251,425) 5.11 Outstanding at September 30, 2022 15,590,268 3.74 6.79 7,855 Vested and exercisable at September 30, 2022 8,809,969 3.17 5.48 —
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following weighted average assumptions were used for issuances during the three and nine months ended September 30, 2022 and 2021, for employees and non-employees: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Risk-free interest rate 2.86 % 0.90 % 2.78 % 0.95 % Dividend yield — — — — Volatility 43.42 % 51.33 % 47.28 % 51.76 % Expected lives (in years) 6.13 5.96 5.92 5.97
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	The following table summarizes the weighted-average assumptions used in estimating the fair value of the 2021 ESPP grants for the offering period beginning on November 3, 2021 and ending on May 2, 2022, and the offering period beginning on May 3, 2022 and ending on November 2, 2022, using the Black Scholes option-pricing model: Offering Period - November 3, 2021 to May 2, 2022 Offering Period - May 3, 2022 to November 2, 2022 Risk-free interest rate 1.63 % 2.97 % Dividend yield — — Volatility 63.00 % 47.15 % Expected lives (years) 0.6 0.5
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity	RSU activity during the nine months ended September 30, 2022 was as follows: Number of Shares Weighted-Average Grant Date Fair Value per Share Unvested at December 31, 2021 160,227 $ 22.33 Granted 5,733,376 4.79 Vested (367,414) 4.56 Forfeited (444,513) 5.99 Unvested at September 30, 2022 5,081,676 $ 5.25
Schedule of Stock-based Compensation Expense, Restricted Stock Unit, Activity	Each of the three performance periods is considered an individual tranche of the award (referred to as "Tranche 1," "Tranche 2" and "Tranche 3," respectively). Number of Shares Grant Date Fair Value per Share Requisite Service Period Tranche 1 262,553 $ 4.77 June 1, 2022 - May 31, 2023 Tranche 2 262,553 $ 5.16 June 1, 2022 - May 31, 2024 Tranche 3 262,554 $ 5.41 June 1, 2022 - May 31, 2025
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity	PSU activity during the nine months ended September 30, 2022 was as follows: Target Number of Shares Weighted-Average Grant Date Fair Value per Share Unvested at December 31, 2021 — $ — Granted 787,660 5.11 Unvested at September 30, 2022 787,660 $ 5.11
Schedule of Stock-based Compensation Expense	Stock-based compensation expense, included in selling, general, and administrative expense in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2022 and 2021, was comprised of the following: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Stock-based compensation, net of amounts capitalized $ 5,793 $ 1,725 $ 13,942 $ 6,553 Capitalized stock-based compensation 333 — 892 — Total stock-based compensation $ 6,126 $ 1,725 $ 14,834 $ 6,553

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Loss per Share	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2022 2021 2022 2021 Numerator: Net loss attributable to common stockholders $ (25,241) $ (13,802) $ (76,489) $ (34,930) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 149,267,269 55,590,320 148,481,459 54,631,455 Net loss per share attributable to common stockholders, basic and diluted $ (0.17) $ (0.25) $ (0.52) $ (0.64)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following shares of preferred stock and common stock were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been anti-dilutive: September 30, September 30, Outstanding stock options 15,590,268 17,957,111 Convertible preferred stock — 70,990,919 Convertible preferred stock warrants — 1,104,560 Common stock warrants — 936,172 2021 ESPP 53,803 — RSUs 5,081,676 — PSUs 787,660 — Total anti-dilutive securities 21,513,407 90,988,762

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) - USD ($) $ / shares in Units, $ in Thousands			9 Months Ended
	Nov. 05, 2021	Nov. 04, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Preferred stock authorized (in shares)				75,812,755
Stock issuance costs			$ 744	$ 2,458
Convertible preferred stock outstanding (in shares)				70,990,919	0	70,990,919	70,990,919
Conversion of Class B shares into Class A common stock		$ 204,000	$ 0
IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock, price per share (in dollars per share)	$ 15
Aggregate proceeds from sale of stock	$ 237,000
Payments of stock underwriting discounts and commissions	15,800
Stock issuance costs	$ 5,400
Class A Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock, authorized (in shares)	2,000,000,000		2,000,000,000	2,000,000,000	2,000,000,000
Common stock, outstanding (in shares)			96,217,296		49,016,511
Class A Common Stock | IPO
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)	23,221,152
Class A Common Stock | Initial Public Offering - Shares Offered by Company
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)	16,850,799
Class A Common Stock | Initial Public Offering - Shares Offered by Existing Shareholders
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares)	6,370,353
Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock, authorized (in shares)	200,000,000		200,000,000	200,000,000	200,000,000
Common stock, outstanding (in shares)			53,137,729	127,735,199	98,036,009
Stock issued from conversion of preferred stock (in shares)		1,104,560
Stock issued during period (in shares)		714,965
Convertible preferred stock
Subsidiary, Sale of Stock [Line Items]
Preferred stock authorized (in shares)	20,000,000
Convertible preferred stock outstanding (in shares)		70,990,919

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Segments (Details)	9 Months Ended
	Sep. 30, 2022 segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reportable segments	1

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit card receivables	$ 1.9	$ 2.2
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, settlement period	2 days
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, settlement period	3 days

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Inventory (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Reserve to reduce inventories to net realizable value	$ 8,729		$ 1,709
First Generation Apparel
Inventory [Line Items]
Reserve to reduce inventories to net realizable value	6,900	$ 9,800
Inventory liquidation adjustment	3,800
Inventory reserve increase	$ 1,000

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Revenue recognized	$ 1	$ 0.8	$ 3.1	$ 2.4
Cash collections of purchases via digital channel not yet shipped	0.3		0.3		$ 0.7
Gift card liabilities	3.1		3.1		$ 3.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 3.4		$ 3.4
Remaining performance obligation, expected timing of satisfaction, period	12 months		12 months

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total net revenue	$ 72,651	$ 62,711	$ 213,588	$ 180,253
United States
Disaggregation of Revenue [Line Items]
Total net revenue	56,083	47,749	164,229	132,854
International
Disaggregation of Revenue [Line Items]
Total net revenue	$ 16,568	$ 14,962	$ 49,359	$ 47,399

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Accounting Policies [Abstract]
Restricted cash	$ 630	$ 0	$ 0

SIGNIFICANT ACCOUNTING POLIC_10

SIGNIFICANT ACCOUNTING POLICIES - Exit Activities (Details)	3 Months Ended
	Sep. 30, 2022 lease position
Accounting Policies [Abstract]
Number of positions eliminated | position	23
Percent of workforce reduction	8%
Number of leases ceased | lease	1

SIGNIFICANT ACCOUNTING POLIC_11

SIGNIFICANT ACCOUNTING POLICIES - Roll Forward Of Severance And Employee Related Termination Costs And Cease Use Liability (Details) - Severance and employee-related termination costs $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring, beginning balance	$ 0
Charges	665
Cash Payments	(496)
Restructuring, ending balance	$ 169

SIGNIFICANT ACCOUNTING POLIC_12

SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets	$ 413,568		$ 488,429
Total liabilities	$ 81,193		$ 91,425
Accounting Standards Update 2016-02 | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets		$ 65,000
Total liabilities		75,000
Accounting Standards Update 2016-02 | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets		80,000
Total liabilities		$ 90,000

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 135,199	$ 108,585
Reserve to reduce inventories to net realizable value	(8,729)	(1,709)
Total inventory	$ 126,470	$ 106,876

PROPERTY AND EQUIPMENT - NET -

PROPERTY AND EQUIPMENT - NET - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment	$ 83,037	$ 58,882
Less: accumulated depreciation and amortization	(30,826)	(20,927)
Total property and equipment - net	52,211	37,955
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	37,025	27,137
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	22,697	15,276
Internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment	20,706	14,453
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment	885	780
Computers and equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,724	$ 1,236

PROPERTY AND EQUIPMENT - NET _2

PROPERTY AND EQUIPMENT - NET - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 4,100,000	$ 2,400,000	$ 11,200,000	$ 6,700,000
Unamortized capitalized internal use software costs	$ 14,600,000		14,600,000		$ 10,600,000
Impairment of long-lived assets			$ 0

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 6,670		$ 6,670		$ 7,865
Inventory returns receivable	760		760		1,351
Security deposits	823		823		1,106
Tax receivable	21,036		21,036		22,594
Other receivables	5,034		5,034		5,022
Restricted cash	630		630	$ 0	0
Total prepaid expenses and other current assets	34,953		34,953		$ 37,938
Tax loss refund, term		12 months
Increase in other assets	$ 3,800	$ 3,800	$ 3,839	$ 0

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Nov. 20, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Investment in equity securities	$ 2,250	$ 2,250	$ 2,000
Tax receivable	3,839	0
Security deposits	3,569	3,025
Intangible assets	255	622
Debt issuance costs	70	107
Deferred tax assets	102	102
Total other assets	$ 10,085	$ 6,106

OTHER ASSETS - Narrative (Detai

OTHER ASSETS - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Nov. 22, 2021	Nov. 20, 2020
Other Assets [Line Items]
Investment in equity securities		$ 2,250,000		$ 2,250,000		$ 2,250,000		$ 2,000,000
Equity securities impairment loss		0		0
Transaction costs	$ 100,000
Intangible asset, useful life	3 years
Amortization of intangible assets		100,000	$ 100,000	300,000	$ 300,000
Intellectual Property
Other Assets [Line Items]
Intangible assets acquired	$ 1,300,000
NoHo ESG, Inc.
Other Assets [Line Items]
Investment in equity securities							$ 300,000
Equity securities impairment loss		$ 0		$ 0
Series A Preferred Stock
Other Assets [Line Items]
Equity securities acquired (in shares)								201,207

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Sales-refund reserve	$ 3,189	$ 5,452
Taxes payable	19,280	17,930
Employee-related liabilities	5,972	5,021
Accrued expenses	13,907	17,840
Total accrued expenses and other current liabilities	$ 42,348	$ 46,243

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Nov. 04, 2021
Fair Value Disclosures [Abstract]
Conversion ratio						1
Preferred stock warrant liability	$ 0		$ 0		$ 0
Unrealized gain (loss) from investment	0	$ 0	0	$ 0
Investment without readily determinable fair value	$ 2,300,000		$ 2,300,000		$ 2,300,000

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Fair Value Changes of Level 3 Liabilities (Details) - Warrant Liability - Fair value Level 3 Liabilities - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 11,243	$ 5,845
Increase in fair value included in other income (expense)	1,844	7,242
Ending balance	$ 13,087	$ 13,087

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - Revolving Credit Facility - Credit Agreement - USD ($)	Feb. 20, 2019	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 40,000,000
Accordion feature, increase limit	35,000,000
Average quarterly loan balance threshold	$ 32,000,000
Commitment fee percentage	0.20%
Fronting fee percentage	0.125%
Long-term line of credit		$ 0	$ 0
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Base, LIBOR, or Commitment Fee | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Base, LIBOR, or Commitment Fee | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%

STOCKHOLDERS_ EQUITY - Narrativ

STOCKHOLDERS’ EQUITY - Narrative (Details) $ / shares in Units, $ in Millions	Nov. 04, 2021 USD ($) shares	Sep. 30, 2022 vote $ / shares shares	Dec. 31, 2021 $ / shares shares	Nov. 05, 2021 shares	Sep. 30, 2021 $ / shares shares	Jun. 30, 2021 shares	Dec. 31, 2020 shares
Class of Stock [Line Items]
Capital stock authorized (in shares)		2,220,000,000	2,220,000,000		2,275,812,755
Preferred stock, authorized (in shares)		20,000,000	20,000,000
Common stock, par value (in dollars per share) | $ / shares					$ 0.0001
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Conversion of convertible preferred stock to Class B common stock upon IPO (in shares)	70,990,919
Convertible preferred stock, shares issued (in shares)		0
Convertible preferred stock, shares outstanding (in shares)			0		70,990,919	70,990,919	70,990,919
Common stock, reclassification ratio		1			1
Convertible preferred stock, shares authorized (in shares)					75,812,755
Convertible preferred stock, par value (in dollars per share) | $ / shares					$ 0.0001
Common stock, percentage of Class B outstanding (less than)		10%
Aggregate amount of shares the board of directors may fix the rights, preferences, privileges, and restrictions (in shares)		20,000,000
Minimum
Class of Stock [Line Items]
Conversion of common stock, date fixed by the board of directors, period		61 days
Maximum
Class of Stock [Line Items]
Conversion of common stock, date fixed by the board of directors, period		180 days
Additional Paid-In Capital
Class of Stock [Line Items]
Conversion of convertible preferred stock to additional paid-in-capital | $	$ 204
Class A Common Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)		2,000,000,000	2,000,000,000	2,000,000,000	2,000,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Number of votes per share for common stock | vote		1
Class B Common Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)		200,000,000	200,000,000	200,000,000	200,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Number of votes per share for common stock | vote		10

STOCKHOLDERS_ EQUITY - Schedule

STOCKHOLDERS’ EQUITY - Schedule of Common Stock Reserved for Future Issuance (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Shares reserved for convertible preferred stock outstanding (in shares)	0	0
Options issued and outstanding (in shares)	15,590,268	16,370,673
Total shares of common stock reserved for future issuance	39,367,749	33,769,619
2015 Equity Incentive Plan
Class of Stock [Line Items]
Options issued and outstanding (in shares)	13,164,180	16,181,331
Shares available for future grants (in shares)	0	0
2021 Equity Incentive Plan
Class of Stock [Line Items]
Options issued and outstanding (in shares)	2,426,088	189,342
Shares available for future grants (in shares)	13,677,314	14,306,487
2021 Equity Incentive Plan | Restricted stock units
Class of Stock [Line Items]
Stock unit outstanding (in shares)	5,081,676	160,227
2021 Equity Incentive Plan | PSUs
Class of Stock [Line Items]
Stock unit outstanding (in shares)	787,660	0
2021 Employee Stock Purchase Plan
Class of Stock [Line Items]
Shares available for future grants (in shares)	4,230,831	2,932,232

WARRANTS - Narrative (Details)

WARRANTS - Narrative (Details)		1 Months Ended	3 Months Ended		9 Months Ended
	Nov. 04, 2021 shares	Jul. 31, 2018 $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Aug. 31, 2022 $ / shares shares	Feb. 28, 2022 $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2015 USD ($) $ / shares shares
Class of Warrant or Right [Line Items]
Conversion ratio	1
Preferred stock warrant liability | $			$ 0		$ 0				$ 0
Marketing expense | $			$ 12,654,000	$ 12,794,000	$ 42,294,000	$ 38,808,000
Preferred Stock Warrants
Class of Warrant or Right [Line Items]
Class of warrant or right, outstanding (in shares)			0		0				0
Preferred stock warrant liability | $			$ 0		$ 0				$ 0
Common stock warrants
Class of Warrant or Right [Line Items]
Class of warrant or right, outstanding (in shares)			0		0
February 2022
Class of Warrant or Right [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares								$ 1.282
Warrants issued (in shares)								25,570
August 2022
Class of Warrant or Right [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares							$ 1.282
Warrants issued (in shares)							5,114
July 2018 - Allotment 1
Class of Warrant or Right [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares		$ 1.28	$ 1,280		$ 1,280
Warrants issued (in shares)		122,735	122,735		122,735
Percent of warrants to vest immediately upon issuance		50%
Vesting period for warrants or rights		24 months
July 2018 - Allotment 2
Class of Warrant or Right [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares		$ 1.28	$ 1,280		$ 1,280
Warrants issued (in shares)		184,100	184,100		184,100
Vesting period for warrants or rights		36 months
Class B Common Stock
Class of Warrant or Right [Line Items]
Stock issued from conversion of preferred stock (in shares)	1,104,560
Common stock, issued (in shares)			53,137,729		53,137,729		3,750	21,967	98,036,009
VLL Agreement
Class of Warrant or Right [Line Items]
Number of securities called by warrants or rights (in shares)										1,104,560
Exercise price of warrants or rights (in dollars per share) | $ / shares										$ 0.10
Fair value of warrants or rights | $										$ 800,000
West Investments V, LLC | Affiliated Entity
Class of Warrant or Right [Line Items]
Marketing expense | $			$ 0	$ 500,000	$ 1,000,000	$ 1,100,000

WARRANTS - Warrants and Rights

WARRANTS - Warrants and Rights Outstanding, Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jul. 31, 2018
October 2015/ March 2016
Class of Warrant or Right [Line Items]
Number of warrants (in shares)	2,103,930
Exercise price (in dollars per share)	$ 100
Class of Warrant or Right [Roll Forward]
Outstanding, beginning of period (in shares)	0	717,225
Exercises during the period (in shares)	0	0
Outstanding, end of period (in shares)	0	717,225
Fair value of warrants or rights	$ 0
October 2016
Class of Warrant or Right [Line Items]
Number of warrants (in shares)	157,580
Exercise price (in dollars per share)	$ 70
Class of Warrant or Right [Roll Forward]
Outstanding, beginning of period (in shares)	0	157,580
Exercises during the period (in shares)	0	0
Outstanding, end of period (in shares)	0	157,580
Fair value of warrants or rights	$ 0
July 2018 - Allotment 1
Class of Warrant or Right [Line Items]
Number of warrants (in shares)	122,735		122,735
Exercise price (in dollars per share)	$ 1,280		$ 1.28
July 2018 - Allotment 2
Class of Warrant or Right [Line Items]
Number of warrants (in shares)	184,100		184,100
Exercise price (in dollars per share)	$ 1,280		$ 1.28
July 2018
Class of Warrant or Right [Roll Forward]
Outstanding, beginning of period (in shares)	30,684	306,835
Exercises during the period (in shares)	30,684	276,151
Outstanding, end of period (in shares)	0	30,684
Fair value of warrants or rights	$ 0

STOCK TRANSACTIONS (Details)

STOCK TRANSACTIONS (Details) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended
	Nov. 19, 2018	Sep. 05, 2018	Sep. 30, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Common stock options exercised (in shares)	220,000	825,000		1,734,516
Repayment of non-recourse promissory note			$ 539	$ 539
Promissory Note
Debt Instrument [Line Items]
Interest rate	2.86%	2.86%

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended		9 Months Ended
	Apr. 30, 2022 USD ($)	May 31, 2022 USD ($) installment $ / shares shares	Sep. 30, 2021 shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares shares	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares) | shares				39,367,749		39,367,749		33,769,619
Weighted-average fair value of options granted (in dollars per share) | $ / shares				$ 1.80	$ 5.26	$ 2.69	$ 6.85
Option repricing ratio		1
Stock-based compensation, exercise price (in dollars per share) | $ / shares		$ 4.39
Incremental stock-based compensation expense		$ 1,600
Stock-based compensation expense, vested stock options		100
Stock-based compensation expense, nonvested stock options		$ 1,500
Stock-based compensation expense				$ 5,793	$ 1,725	$ 13,942	$ 6,553
Unrecognized compensation cost related to unvested share-based compensation arrangements granted				20,800		20,800
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, exercise price (in dollars per share) | $ / shares		$ 4.70
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, exercise price (in dollars per share) | $ / shares		$ 14.45
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs				23,900		$ 23,900
Unrecognized compensation cost, period for recognition						2 years 8 months 26 days
RSUs | New Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						4 years
Award cliff vesting period						1 year
RSUs | Existing Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares) | shares		800,000
Number of award vesting periods | installment		3
Total grant date fair value						$ 4,000
Stock-based compensation expense	$ 0			600		800
Unrecognized compensation costs				$ 3,200		$ 3,200
Unrecognized compensation cost, period for recognition						2 years 8 months 1 day
PSUs | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		1 year
Aggregate fair value of equity instruments vested during the period						$ 1,300
PSUs | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		2 years
Aggregate fair value of equity instruments vested during the period						1,400
PSUs | Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Aggregate fair value of equity instruments vested during the period						$ 1,400
PSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		0%
PSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		150%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, period for recognition						2 years 4 months 6 days
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, period for increase in shares			10 years
Percent of outstanding shares			4%
2021 Equity Incentive Plan | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares) | shares			21,062,853		21,062,853		21,062,853
Stock-based compensation, maximum number of shares available for issue on the exercise of incentive stock options (in shares) | shares			100,000,000
2021 Employee Stock Purchase Plan | 2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, period for increase in shares			10 years
Percent of outstanding shares			1%
Stock-based compensation, number of additional shares allowable under the plan (in shares) | shares			2,850,000		2,850,000		2,850,000
Stock-based compensation, purchase period			6 months
2021 Employee Stock Purchase Plan | Class A Common Stock | 2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares) | shares			4,402,757		4,402,757		4,402,757
Stock-based compensation, discount percentage from market price, beginning of period			85%

STOCK-BASED COMPENSATION - Shar

STOCK-BASED COMPENSATION - Share-based Payment Arrangement, Option, Activity (Details) - USD ($) $ / shares in Units, $ in Thousands			9 Months Ended	12 Months Ended
	Nov. 19, 2018	Sep. 05, 2018	Sep. 30, 2022	Dec. 31, 2021
Number of Options
Outstanding, beginning balance (in shares)			16,370,673
Granted (in shares)			2,298,160
Exercised (in shares)	(220,000)	(825,000)	(1,734,516)
Forfeited (in shares)			(1,092,624)
Cancelled (in shares)			(251,425)
Outstanding, ending balance (in shares)			15,590,268	16,370,673
Vested and exercisable at end of period (in shares)			8,809,969
Weighted-Average Exercise Price
Outstanding, beginning balance (in dollars per share)			$ 4.23
Granted (in dollars per share)			4.61
Exercised (in dollars per share)			1.47
Forfeited (in dollars per share)			4.68
Cancelled (in dollars per share)			5.11
Outstanding, ending balance (in dollars per share)			3.74	$ 4.23
Vested and exercisable at end of period (in dollars per share)			$ 3.17
Weighted-Average Remaining Contractual Term (in years)
Outstanding			6 years 9 months 14 days	7 years 8 months 12 days
Vested and exercisable at end of period			5 years 5 months 23 days
Aggregate Intrinsic Value (in thousands)
Outstanding, beginning of period			$ 177,593
Granted
Exercised			9,555
Forfeited
Cancelled
Outstanding, end of period			7,855	$ 177,593
Vested and exercisable at end of period			$ 0

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Nov. 02, 2022	May 02, 2022	Sep. 30, 2022	Sep. 30, 2021
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.86%	0.90%			2.78%	0.95%
Dividend yield	0%	0%			0%	0%
Volatility	43.42%	51.33%			47.28%	51.76%
Expected lives (in years)	6 years 1 month 17 days	5 years 11 months 15 days			5 years 11 months 1 day	5 years 11 months 19 days
2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate				1.63%
Dividend yield				0%
Volatility				63%
Expected lives (in years)				7 months 6 days
2021 ESPP | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate			2.97%
Dividend yield			0%
Volatility			47.15%
Expected lives (in years)			6 months

STOCK-BASED COMPENSATION - Sh_2

STOCK-BASED COMPENSATION - Share-based Payment Arrangement, Restricted Stock Unit, Activity (Details) - RSUs	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Shares
Unvested at beginning of period (in shares) | shares	160,227
Granted (in shares) | shares	5,733,376
Vested (in shares) | shares	(367,414)
Forfeited (in shares) | shares	(444,513)
Unvested at end of period(in shares) | shares	5,081,676
Weighted-Average Grant Date Fair Value per Share
Unvested at beginning of period (in dollars per share) | $ / shares	$ 22.33
Granted (in dollars per share) | $ / shares	4.79
Vested (in dollars per share) | $ / shares	4.56
Forfeited (in dollars per share) | $ / shares	5.99
Unvested at end of period (in dollars per share) | $ / shares	$ 5.25

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock-based Compensation Expense, Restricted Stock Unit, Activity (Details) - RSUs - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Number of Shares
Number of share-based compensation (in shares)	5,081,676	160,227
Grant Date Fair Value per Share
Weighted average grant date fair value (in dollars per share)	$ 5.25	$ 22.33
Tranche 1
Number of Shares
Number of share-based compensation (in shares)	262,553
Grant Date Fair Value per Share
Weighted average grant date fair value (in dollars per share)	$ 4.77
Tranche 2
Number of Shares
Number of share-based compensation (in shares)	262,553
Grant Date Fair Value per Share
Weighted average grant date fair value (in dollars per share)	$ 5.16
Tranche 3
Number of Shares
Number of share-based compensation (in shares)	262,554
Grant Date Fair Value per Share
Weighted average grant date fair value (in dollars per share)	$ 5.41

STOCK-BASED COMPENSATION - Sh_3

STOCK-BASED COMPENSATION - Share-based Payment Arrangement, Performance Stock Unit, Activity (Details) - PSUs	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of Shares
Unvested at beginning of period (in shares) | shares	0
Granted (in shares) | shares	787,660
Unvested at end of period(in shares) | shares	787,660
Weighted-Average Grant Date Fair Value per Share
Unvested at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	5.11
Unvested at end of period (in dollars per share) | $ / shares	$ 5.11

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation, net of amounts capitalized	$ 5,793	$ 1,725	$ 13,942	$ 6,553
Capitalized stock-based compensation	333	0	892	0
Total stock-based compensation	$ 6,126	$ 1,725	$ 14,834	$ 6,553

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax benefit (provision)	$ 153	$ 167	$ (1,953)	$ (298)
Effective tax rate	(0.60%)	(1.20%)	2.60%	0.80%

NET LOSS PER SHARE - Schedule o

NET LOSS PER SHARE - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss attributable to common stockholders, basic	$ (25,241)	$ (13,802)	$ (76,489)	$ (34,930)
Net loss attributable to common stockholders, diluted	$ (25,241)	$ (13,802)	$ (76,489)	$ (34,930)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	149,267,269	55,590,320	148,481,459	54,631,455
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	149,267,269	55,590,320	148,481,459	54,631,455
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.17)	$ (0.25)	$ (0.52)	$ (0.64)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.17)	$ (0.25)	$ (0.52)	$ (0.64)

NET LOSS PER SHARE - Schedule_2

NET LOSS PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	21,513,407	90,988,762
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	15,590,268	17,957,111
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	70,990,919
Convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	1,104,560
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	936,172
2021 ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	53,803	0
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5,081,676	0
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	787,660	0

BENEFIT PLAN (Details)

BENEFIT PLAN (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Discretionary profit-sharing contributions	$ 0	$ 0	$ 0	$ 0
Matching contributions	$ 400,000	$ 400,000	$ 1,000,000	$ 900,000