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Summary of significant accounting policies (Tables)
12 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Schedule of Concentrations of Risk
During the years ended March 31, 2021, March 31, 2020, December 31, 2018 and the three-month transition period ended March 31, 2019, two customers individually accounted for greater than 10% of the Company’s net sales as disclosed below:
Year ended March 31,Three months ended March 31,
(transition period)
Year ended
December 31,
2021202020192018
Walmart26 %31 %36 %30 %
Target22 %22 %17 %21 %
Customers that individually accounted for greater than 10% of the Company’s accounts receivable at the end of the periods as of March 31, 2021 and March 31, 2020, respectively, are as presented:
March 31, 2021March 31, 2020
Walmart33 %20 %
Target17 %22 %
Ulta Beauty11 %*
* Customer comprised less than 10% accounts receivable in the periods.
Schedule of Useful Lives by Major Asset Class
Useful lives by major asset class are as follows:
 Estimated
useful lives
Machinery, equipment and software
3 - 5 years
Leasehold improvements
5 years
Furniture and fixtures
2 - 5 years
Store fixtures
1 - 3 years
Net Sales in United States and Outside of United States
During the years ended March 31, 2021, March 31, 2020, December 31, 2018 and the three-month transition period ended March 31, 2019, net sales in the United States and outside of the United States were as follows (in thousands):
Year ended March 31,Three months ended March 31,
(transition period)
Year ended
December 31,
2021202020192018
United States$284,203 $255,284 $59,797 $241,159 
International33,907 27,567 6,344 26,276 
Total net sales$318,110 $282,851 $66,141 $267,435 
Property and Equipment in United States and Outside of United States
As of March 31, 2021 and March 31, 2020, the Company had property and equipment in the United States and outside of the United States as follows (in thousands):
March 31, 2021March 31, 2020
United States$13,524 $16,845 
International246 326 
Total property and equipment, net$13,770 $17,171 
Reconciliation of Sales Allowances
A reconciliation of the beginning and ending amounts of the reserve for sales adjustments for the years ended March 31, 2021, March 31, 2020, December 31, 2018 and the three-month transition period ended March 31, 2019 is as follows (in thousands):
Balance as of December 31, 2017$8,458 
Charges26,971 
Deductions(27,655)
Balance as of December 31, 20187,774 
Charges6,787 
Deductions(8,016)
Balance as of March 31, 20196,545 
Charges29,576 
Deductions(28,508)
Balance as of March 31, 20207,613 
Charges41,027 
Deductions(36,727)
Balance as of March 31, 2021$11,913 
Accounting Standards Update and Change in Accounting Principle
The following table provides a brief description of recent accounting pronouncements that could have a material effect on the Company’s financial statements:
Recently adopted accounting standards
StandardDescriptionDate of expected adoption/adoptionEffect on the financial statements or other significant matters
ASU 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40)
The standard will require customers in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Certain implementation costs incurred during the application development stage would be deferred and capitalized (e.g., costs of integration with on-premises software, coding, configuration, customization). Other costs incurred during the preliminary project and post-implementation stages would be expensed (e.g., planning the project, training, maintenance after implementation, data conversion). The amendments in the ASU can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption.April 1, 2020The Company adopted ASU 2018-15 prospectively, and the adoption of the standard did not have a material impact on the Company’s consolidated financial statements.
ASU 2019-12—Income Taxes (TOPIC 740): Simplifying the Accounting for Income TaxesThe guidance eliminates certain exceptions related to intraperiod tax allocations, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The new standard is effective for interim and annual periods beginning after December 15, 2020, and early adoption is permitted. January 1, 2021The adoption of the standard had no impact on the Company’s consolidated financial statements.