Segment Reporting (Tables)
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6 Months Ended |
Jun. 30, 2022 |
Segment Reporting [Abstract] |
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Schedule of Segment Reporting Information by Segment |
Information about the Company’s operations by operating segment as of June 30, 2022 and 2021 and for the three and six months ended June 30, 2022 and 2021 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2022 | | 2021 | | 2022 | | 2021 | Net sales | $ | 115,305 | | | $ | 101,810 | | | $ | 211,753 | | | $ | 177,260 | | Americas | 100,493 | | | 86,149 | | | 185,104 | | | 150,000 | | International | 14,812 | | | 15,661 | | | 26,649 | | | 27,260 | | Gross profit | $ | 29,289 | | | $ | 28,976 | | | $ | 48,352 | | | $ | 53,060 | | Americas | 26,710 | | | 25,706 | | | 43,006 | | | 46,824 | | International | 2,579 | | | 3,270 | | | 5,346 | | | 6,236 | |
| | | | | | | | | | | | | As of June 30, | | As of December 31, | | 2022 | | 2021 | Total segment assets | $ | 217,808 | | | $ | 197,484 | | Americas | 171,951 | | | 141,973 | | International | 45,857 | | | 55,511 | |
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Reconciliation of Gross Profit to Income (Loss) Before Income Taxes |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | Reconciliation | 2022 | | 2021 | | 2022 | | 2021 | Total gross profit | $ | 29,289 | | | $ | 28,976 | | | $ | 48,352 | | | $ | 53,060 | | Less: | | | | | | | | Selling, general, and administrative expenses | 24,257 | | | 21,444 | | | 49,058 | | | 41,222 | | Income (loss) from operations | $ | 5,032 | | | $ | 7,532 | | | $ | (706) | | | $ | 11,838 | | Less: | | | | | | | | Unrealized gain/(loss) on derivative instruments | (3,242) | | | 4,569 | | | 5,464 | | | 3,214 | | Foreign currency gain/(loss) | (43) | | | (930) | | | (144) | | | (1,530) | | Interest income | 3 | | | 38 | | | 10 | | | 73 | | Interest expense | (56) | | | (113) | | | (83) | | | (192) | | Income before income taxes | $ | 1,694 | | | $ | 11,096 | | | $ | 4,541 | | | $ | 13,403 | |
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Revenue from External Customers by Geographic Areas |
The following table provides information related to the Company’s net sales by country, which is presented on the basis of the location that revenue from customers is recorded: | | | | | | | | | | | | | | | Six Months Ended June 30, | | 2022 | | 2021 | United States | | $ | 174,818 | | | $ | 150,000 | | All other countries(1) | | 36,935 | | | 27,260 | | Net sales | | $ | 211,753 | | | $ | 177,260 | |
___________ | | | | | | (1) | No individual country is greater than 10% of total net sales for the six months ended June 30, 2022 and 2021. |
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Long-lived Assets by Geographic Areas |
The following table provides information related to the Company’s property and equipment, net by country: | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | United States | $ | 723 | | | $ | 890 | | Ecuador | 832 | | | 870 | | Singapore | 1,292 | | | 536 | | All other countries(1) | 134 | | | 177 | | Property and equipment, net | $ | 2,981 | | | $ | 2,473 | |
___________ | | | | | | (1) | No individual country is greater than 10% of total property and equipment, net as of June 30, 2022 and December 31, 2021. |
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