0001628280-26-071119 | 10-Q | XBRL Viewer | Neighborhood Intelligence INC

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STOCK-BASED AWARDS - Schedule of Restricted Stock and Restricted Stock Unit Activity (Details)	9 Months Ended
	Sep. 30, 2026 $ / shares shares
Restricted stock units, PSUs, and Share Options
Units
Outstanding-beginning of year (in shares) \| shares	3,037,000
Granted at fair value (in shares) \| shares	6,540,000
Vested (in shares) \| shares	(1,294,000)
Forfeited (in shares) \| shares	(1,188,000)
Outstanding-end of period (in shares) \| shares	7,095,000
Weighted Average Grant Date Fair Value
Outstanding-beginning of year (in dollars per share) \| $ / shares	$ 8.21
Granted at fair value (in dollars per share) \| $ / shares	4.61
Vested (in dollars per share) \| $ / shares	7.58
Forfeited (in dollars per share) \| $ / shares	9.28
Outstanding-end of period (in dollars per share) \| $ / shares	$ 4.80
Performance Shares \| No Date Established
Units
Granted at fair value (in shares) \| shares	662,251
Weighted Average Grant Date Fair Value
Granted at fair value (in dollars per share) \| $ / shares	$ 4.50

FAIR VALUE MEASUREMENT - Schedule of Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Assets:
Cash equivalents—Money market funds	$ 37,658	$ 22,717
Equity securities, at fair value	17,075	26,903
Available-for-sale debt securities	17,682	18,417
Debt securities, at fair value		23,977
Total assets	72,415	92,014
Total liabilities
Loan commitments, at fair value	0	2,766
Total liabilities		2,766
Level 1
Assets:
Cash equivalents—Money market funds	37,658	22,717
Equity securities, at fair value	0	9,828
Available-for-sale debt securities	0	0
Debt securities, at fair value		0
Total assets	37,658	32,545
Total liabilities
Loan commitments, at fair value		0
Total liabilities		0
Level 2
Assets:
Cash equivalents—Money market funds	0	0
Equity securities, at fair value	0	0
Available-for-sale debt securities	0	0
Debt securities, at fair value		23,977
Total assets	0	23,977
Total liabilities
Loan commitments, at fair value		0
Total liabilities		0
Level 3
Assets:
Cash equivalents—Money market funds	0	0
Equity securities, at fair value	17,075	17,075
Available-for-sale debt securities	17,682	18,417
Debt securities, at fair value		0
Total assets	$ 34,757	35,492
Total liabilities
Loan commitments, at fair value		2,766
Total liabilities		$ 2,766

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2026
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company has prepared the accompanying unaudited consolidated financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”) and the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. These financial statements should be read in conjunction with the audited annual consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. There have been no significant changes to the Company's significant accounting policies disclosed in Note 2—Accounting Policies and Supplemental Disclosures, included in Part II, Item 8, Financial Statements and Supplementary Data, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, except as disclosed below. The accompanying unaudited consolidated financial statements include the Company's accounts and the accounts of the Company's wholly-owned subsidiaries and other subsidiaries for which the Company exercises control, and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the Company's opinion, necessary for a fair presentation of results for the interim periods presented. All intercompany account balances and transactions have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2026, are not necessarily indicative of the results to be expected for any future period or the full fiscal year, due to seasonality and other factors. Prior to April 2, 2026, June 30, 2026, and July 8, 2026, The Brand House Collective, Inc. (formerly known as Kirkland’s Inc.) ("The Brand House Collective" or “TBHC”), TwoPonds, Inc., a Delaware corporation (“SFV Services”), and The Container Store Holdings, LLC, a Delaware limited liability company (“TCS” or "The Container Store"), respectively, were not consolidated subsidiaries of the Company. Accordingly, transactions between the Company, and TBHC and TCS prior to the acquisition dates, including any related amendments, were accounted for as transactions with a non-consolidated entity and are reflected in the Company’s consolidated financial statements through the acquisition dates in accordance with their nature. Beginning on the respective acquisition dates, the results of operations, assets and liabilities of TBHC and TCS are included in the Company’s consolidated financial statements. Accordingly, balances and transactions between the Company, TBHC and TCS occurring after the acquisition date of each entity are eliminated in consolidation. Use of estimates The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the Company's consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, receivables valuation, revenue recognition, loyalty program reward point and gift card breakage, sales returns, inventory valuation, asset useful lives, equity and debt securities valuation, income taxes, stock-based compensation, performance-based compensation, self-funded health insurance liabilities, contingencies, goodwill, and the fair value of assets acquired and liabilities assumed in acquisitions. Although these estimates are based on the Company's best knowledge of current events and actions that the Company may undertake in the future, the accounting of these estimates may change from period to period. To the extent there are differences between these estimates and actual results, the Company's consolidated financial statements may be materially affected. Business Combinations Assets acquired and liabilities assumed as part of a business combination are recorded at their fair value at the date of acquisition. The excess of purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Determining fair value of identifiable assets, particularly intangible assets and liabilities acquired requires management to make estimates, which are based on all available information and in some cases, assumptions, with respect to the timing and amount of future revenues and expenses associated with an asset or liability. Recently issued accounting standards In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires public entities to disclose disaggregated information about certain income statement line items in the notes to the financial statements. For public entities, ASU 2024-03 is required to be adopted for annual periods beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. This ASU will result in the Company including the additional required disclosures when adopted and does not otherwise have a material impact on the Company's consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40), Targeted Improvements to the Accounting for Internal-Use Software, which clarified and modernizes the accounting for costs related to internal-use software. The amendments in ASU 2025-06 remove all references to project stages throughout Subtopic 350-40 and clarify the threshold entities apply to begin capitalizing costs. ASU 2025-06 is effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. This ASU will result in the Company adopting the new threshold to apply to begin capitalizing costs and does not otherwise have a material impact on the Company's consolidated financial statements.

DESCRIPTION OF BUSINESS	9 Months Ended
DESCRIPTION OF BUSINESS	Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS Neighborhood Intelligence, Inc. (Nasdaq:NXH), previously Bed Bath & Beyond, Inc., is a data and technology company organized around three interconnected pillars: Omni-Channel Retail, Home Services and Home Ownership. Its portfolio includes Bed Bath & Beyond, Overstock, buybuy BABY, Kirkland's, The Container Store, Elfa and Closet Works, along with its expanding Home Services and Home Ownership businesses. The Company also includes a blockchain asset portfolio inclusive of tZERO, GrainChain, and other assets. In August 2026, the Company changed its corporate name from Bed Bath & Beyond, Inc. to Neighborhood Intelligence, Inc. and changed the ticker symbol for its common stock from "BBBY" to "NXH". The Company's common stock ceased trading under the ticker symbol "BBBY" on the New York Stock Exchange at the close of market on August 14, 2026, and on August 17, 2026, its common stock began trading under the ticker symbol "NXH" on the Nasdaq Global Select Market. The Company does not distinguish between its prior and current corporate name and refers to its current corporate name throughout these financial statements.

LEASES - Schedule of Other Lease Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Leases [Abstract]
Cash payments included in operating cash flows from lease arrangements	$ 45,210	$ 1,313

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2026 USD ($)
AOCI Attributable to Parent [Abstract]
Beginning balance	$ 217,583
Other comprehensive income (loss) before reclassification, net of tax	(2,322)
Amounts reclassified to earnings, net of tax	0
Net current period other comprehensive income (loss)	(2,322)
Ending balance	292,218
Accumulated other comprehensive loss
AOCI Attributable to Parent [Abstract]
Beginning balance	(2,574)
Ending balance	(4,896)
Pension liability adjustment
AOCI Attributable to Parent [Abstract]
Beginning balance	0
Other comprehensive income (loss) before reclassification, net of tax	4
Amounts reclassified to earnings, net of tax	0
Net current period other comprehensive income (loss)	4
Ending balance	4
Foreign currency translation
AOCI Attributable to Parent [Abstract]
Beginning balance	(2,574)
Other comprehensive income (loss) before reclassification, net of tax	(2,326)
Amounts reclassified to earnings, net of tax	0
Net current period other comprehensive income (loss)	(2,326)
Ending balance	$ (4,900)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

REVENUE AND CONTRACT LIABILITY - Schedule of Sales Returns, Reserve For Sales Returns (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2026 USD ($)
Sales Return, Reserve for Sales Returns [Roll Forward]
Beginning balance	$ 7,722
Additions due to business combinations	3,296
Additions to the allowance	63,058
Deductions from the allowance	(65,046)
Ending balance	$ 9,030

FAIR VALUE MEASUREMENT - Schedule of Level 3 Investment Activity (Details) - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2026 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 35,492
Increase due to purchases of Level 3 debt securities	7,168
Decrease due to settlement of Level 3 debt securities	(8,630)
Accrued interest, net on Level 3 debt securities	727
Ending balance	$ 34,757

EQUITY SECURITIES

9 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

EQUITY SECURITIES

7. EQUITY SECURITIES

Equity securities consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Equity securities accounted for under the equity method under ASC 323	$	37,830	$	39,738
Equity securities accounted for under the fair value option	17,075		26,903

Total equity securities	$	54,905	$	66,641

The following table includes the Company's equity securities and related ownership interest as of September 30, 2026:


			Ownership interest
Medici Ventures, L.P.			99%
tZERO Group, Inc.			21%

Zulily Newco			25%

The carrying amount of the Company's equity method securities was $54.9 million at September 30, 2026, which is included in Equity securities on the consolidated balance sheets, of which $17.1 million was valued under the fair value option (tZERO and Zulily Newco). For the equity method investments, there was no difference in the carrying amount of the assets and liabilities and the maximum exposure to loss, and there was no difference between the carrying amount of the investment in Medici Ventures, L.P., and the amount of underlying equity the Company has in the entity's net assets.

The following table summarizes the net loss recognized on equity method securities recorded in other income (expense), net in the consolidated statements of operations (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Net loss recognized on the Company's proportionate share of the net assets of our equity method securities	$	(1,023)	$	(565)	$	(1,907)	$	(9,559)
Increase / (decrease) in fair value of equity method securities held under fair value option	—		7,570		(1,521)		(7,085)

Upon obtaining control of TBHC, the Company discontinued its application of equity method accounting resulting in a decrease in the carrying amount of equity method securities held under the fair value option of $8.4 million. Refer to Note 3—Business Combinations for further information on consolidation of TBHC.

TZROP Conversion

On April 29, 2026, tZERO, an investee of the Company in which the Company is the largest shareholder, announced that the required majority of holders of its Series A Preferred Equity Tokens ("TZROP tokens") had approved the proposal to convert each outstanding TZROP token into three shares of tZERO's Series B preferred stock and eight shares of tZERO's common stock. As a result of the conversion, the Company's combined direct and indirect ownership in tZERO, decreased from approximately 49.4% to 36.2%. The decrease in the Company's combined indirect and direct ownership did not have a material impact on the carrying value of the Company's investment in tZERO.

In connection with the proposed conversion, the Company entered into a non-binding Letter of Intent with tZERO pursuant to which the Company has indicated its intent to lead up to $10.0 million in additional financing through a convertible note financing. The proposed financing is expected to be funded in tranches subject to the achievement of specified operational and financial milestones. As of September 30, 2026, the proposed financing has not been funded or approved.

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2026
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	18. SUBSEQUENT EVENTS Termination of Merger Agreement with Fathom On October 5, 2026, the Company and Fathom Holdings, Inc. mutually agreed to terminate the previously announced Fathom Merger Agreement (the "Fathom Merger Agreement Termination"). Upon such termination, the Fathom Merger Agreement became immediately null and void, and each of the parties to the Fathom Merger Agreement were relieved of their duties and obligations arising under the Fathom Merger Agreement after the date of such termination. Amendment No. 1 to August 2026 Sales Agreement On October 5, 2026 the Company signed an amendment to the August 2026 Sales Agreement reducing the dollar amount of common stock permitted to be sold under the agreement from $200.0 million to $75.0 million. Registered Direct Offering On October 6, 2026, the Company completed the purchase and sale of an aggregate of 10,881,192 shares of its common stock and pre-funded warrants to purchase up to 5,241,997 shares of common stock in a registered direct offering generating gross proceeds of approximately $45.5 million and net proceeds of approximately $43.0 million, after deducting placement agent fees and other offering expenses. In addition, the Company issued warrants to purchase up to 16,123,189 shares of common stock at an exercise price of $3.45 per share. The warrants are exercisable six months following the initial issuance date, and will expire five years following the initial exercise date. The Company intends to use the net proceeds from the offering to accelerate merger synergies and build inventory. Any remaining proceeds will be used for working capital and general corporate purposes. Expiration of Warrants On October 7, 2026, all 6,884,121 Warrants then outstanding under the Warrant Agreement expired. Sale of Domain Name On October 15, 2026, the Company entered into an agreement to sell its Tokens.com domain name to Abraham Strategies Limited for $5.0 million in cash. The transfer of the domain name was completed prior to the issuance of these financial statements, and the Company received the related cash proceeds on October 23, 2026. BMO Debt Amendment On October 18, 2026, the Company entered into the second amendment to loan and security agreement with BMO Bank N.A. ("BMO"), extending the maturity date from October 18, 2026 to October 18, 2027. Please refer to Note 8—Borrowings for additional information regarding this loan agreement.

PROPERTY AND EQUIPMENT, NET (Tables)

9 Months Ended

Sep. 30, 2026

Property, Plant, and Equipment [Abstract]

Schedule of Property, Plant, and Equipment

Property and equipment, net consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Computer hardware and software, including internal-use software and website development	$	220,915	$	186,022
Land and Building	24,981		—

Furniture and equipment	62,483		1,630


Leasehold improvements	56,156		1,159
Construction in progress	14,830		—
	379,365		188,811
Less: accumulated depreciation	(202,017)		(175,099)
Total property and equipment, net	$	177,348	$	13,712

Schedule of Depreciation Expense

Depreciation expense is classified within the corresponding operating expense categories on the consolidated statements of operations as follows (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Cost of goods sold	$	905	$	1	$	1,853	$	90
Technology	2,468		3,607		9,698		11,857

General and administrative	14,583		73		16,456		240
Total depreciation	$	17,956	$	3,681	$	28,007	$	12,187

BUSINESS COMBINATIONS - SFV Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			3 Months Ended	9 Months Ended
	Sep. 30, 2026	Jun. 30, 2026	Sep. 30, 2026	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Business Combination [Line Items]
Goodwill	$ 140,564		$ 140,564	$ 140,564		$ 6,160
Purchase price, net of cash acquired				(13,114)	$ 0
SVF Services
Business Combination [Line Items]
Total assets acquired	8,624	$ 8,454	8,624	8,624
Measurement period adjustments, Total assets acquired			170
Total liabilities assumed	2,866	3,669	2,866	2,866
Measurement period adjustment, Total liabilities assumed			(803)
Net assets acquired	5,758	4,785	5,758	5,758
Measurement period adjustment , Net assets acquired			973
Goodwill	31,322	32,295	31,322	$ 31,322
Measurement period adjustment, goodwill			(973)
Less: Cash acquired	(4,000)	(3,990)
Measurement period adjustment, Cash acquired			(10)
Purchase price, net of cash acquired	$ 33,080	$ 33,090
Measurement period adjustment, Purchase price, net of cash acquired			$ (10)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss ("AOCL") consists of pension liability adjustments and foreign currency translation. The components of AOCL, net of tax, were as follows:


	Pension liability adjustment		Foreign currency translation		Total
Balance at December 31, 2025	$	—	$	(2,574)	$	(2,574)
Other comprehensive income (loss) before reclassification, net of tax	4		(2,326)		(2,322)
Amounts reclassified to earnings, net of tax	—		—		—
Net current period other comprehensive income (loss)	4		(2,326)		(2,322)
Balance at September 30, 2026	$	4	$	(4,900)	$	(4,896)

BUSINESS COMBINATIONS - The Container Store Purchase Price Allocation (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 08, 2026	Jun. 30, 2026	Apr. 02, 2026
Business Combination [Line Items]
Share price (usd per share)	$ 5.37	$ 5.79	$ 4.62
TCS
Business Combination [Line Items]
Share consideration issued to holders of outstanding TCS indebtedness	$ 67,749
Convertible notes consideration issued to holders of outstanding TCS indebtedness	108,470
Settlement of preexisting relationships	(7,500)
Total fair value of consideration paid	$ 168,719
Merger, equity interest issuable (in shares)	13,714,287
Discount for lack of marketability (usd per share)	$ 0.43
Merger, price per share (in dollars per share)	$ 4.94
Settlement of preexisting relationships	$ 7,500
TCS \| Convertible Debt
Business Combination [Line Items]
Principal amount	112,600
Debt instrument fair value	$ 108,500
Discount percentage	3.60%

REVENUE AND CONTRACT LIABILITY (Tables)

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Deferred Revenues

The following table provides information about unearned revenue from contracts with customers, including significant changes in unearned revenue balances during the periods presented (in thousands):


	Amount



Unearned revenue at December 31, 2025	34,429
Increase due to deferral of revenue at period end, net	9,237
Increase due to business combinations	39,854
Decrease due to beginning and acquired contract liabilities recognized as revenue	(35,716)
Unearned revenue at September 30, 2026	$	47,804

Schedule of Sales Returns, Reserve For Sales Returns

The following table provides additions to and deductions from the sales returns allowance, which is included in the Accrued liabilities balance in the consolidated balance sheets (in thousands):


	Amount



Allowance for returns at December 31, 2025	7,722
Additions due to business combinations	3,296
Additions to the allowance	63,058
Deductions from the allowance	(65,046)
Allowance for returns at September 30, 2026	$	9,030

STOCK-BASED AWARDS (Tables)

9 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Stock Based Compensation

Stock-based compensation expense is classified within the corresponding operating expense categories on the consolidated statements of operations as follows (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Cost of goods sold	$	—	$	2	$	—	$	4
Sales and marketing	57		112		(76)		257
Technology	12		690		393		1,409
General and administrative	(1,531)		2,718		1,826		6,332
Customer service and merchant fees	—		—		3		—
Total stock-based compensation	$	(1,462)	$	3,522	$	2,146	$	8,002

Schedule of Restricted Stock and Restricted Stock Unit Activity

The following table summarizes restricted stock unit and PSU award activity (in thousands, except per share data):


	Nine months ended September 30, 2026
	Units	Weighted Average Grant Date Fair Value
Outstanding—beginning of year	3,037	$	8.21
Granted at fair value (1)	6,540	4.61
Vested	(1,294)	7.58
Forfeited	(1,188)	9.28
Outstanding—end of period	7,095	$	4.80

___________________________________________

(1) Includes 662,251 performance share units awarded during the nine months ended September 30, 2026 for which a grant date under ASC 718, Compensation—Stock Compensation, had not been established as of September 30, 2026. These units are included in the number of units granted and outstanding above and are reflected in the weighted-average grant-date fair value at $4.50. The fair value of these units will be remeasured and finalized on the date a mutual understanding of the performance targets is reached.

NET LOSS PER SHARE - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Restricted stock units, PSUs, and Share Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,957	2,601	1,957	2,601
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	180	273	180	273
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	6,884	0	6,884	0
Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	25,459	0	25,459	0

BUSINESS COMBINATIONS

9 Months Ended

Sep. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

BUSINESS COMBINATIONS

3. BUSINESS COMBINATIONS

Acquisition of The Container Store Holdings, LLC

On July 8, 2026, the Company completed the previously announced acquisition of TCS, pursuant to the Agreement and Plan of Merger (the “TCS Merger Agreement”), dated April 2, 2026, by and among the Company, TCS Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“TCS Merger Sub”) and TCS. Pursuant to the TCS Merger Agreement, upon the terms and subject to the conditions set forth therein, TCS Merger Sub merged with and into TCS, with TCS surviving as a wholly owned subsidiary of the Company (the “Merger”). The acquisition of TCS combines organizing solutions, design services and expertise with the Company's home essentials to provide a more complete home destination that combines organization, essentials, decor and services in one shopping experience.

Pursuant to the terms and conditions of the TCS Merger Agreement, the Company issued an aggregate number of 13,714,287 shares of the Company's common stock and $112.6 million aggregate principal amount of its 5.00% Convertible Senior Notes due 2033 (“2033 Convertible Notes”) to holders of outstanding TCS indebtedness as merger consideration. Please refer to Note 8—Borrowings for additional information regarding these 2033 Convertible Notes.

The results of operations of TCS have been included in the unaudited consolidated financial statements of the Company from July 8, 2026, the TCS Acquisition Date (as discussed further in Note 2—Summary of Significant Accounting Policies). For both the three and nine months ended September 30, 2026, results of operations included $156.4 million in revenues and $30.1 million in net loss attributable to TCS.

The following table summarizes the components of the purchase consideration (in thousands):


Share consideration issued to holders of outstanding TCS indebtedness (1)	$	67,749
Convertible notes consideration issued to holders of outstanding TCS indebtedness (2)	108,470
Settlement of preexisting relationships (3)	(7,500)


Investment in TCS	$	168,719

___________________________________________

(1) Represents the aggregate fair value of 13,714,287 common shares of the Company issued directly to the sellers based on the closing trading price of the Company's common stock of $5.37 per share on the TCS Acquisition Date, adjusted for a discount for lack of marketability of $0.43 due to the unregistered status of the shares issued, resulting in a fair value of $4.94 per share on July 8, 2026.

(2) Represents debt incurred for the issuance of $112.6 million aggregate principal amount of Convertible Notes with a fair value of $108.5 million, reflecting a discount of approximately 3.6% from the principal amount.

(3) Represents the effective settlement of a preexisting relationship for the $7.5 million short-term loan due to TCS.

The Company has provisionally allocated the purchase consideration based on the estimated fair values of the assets acquired and liabilities assumed at the TCS Acquisition Date as follows (in thousands):


	July 8, 2026

Cash and cash equivalents	$	19,114
Accounts receivable, net	17,168
Inventories	139,944
Prepaids and other current assets	20,812
Property and equipment, net	148,198
Intangible assets, net	22,329
Operating lease right-of-use assets	338,565
Other long-term assets, net	4,861
Total assets acquired	710,991
Accounts payable	48,689
Accrued liabilities	36,693
Unearned revenue	29,057
Operating lease liabilities, current	68,837
Short-term debt, net	282
Long-term debt, net	84,600
Operating lease liabilities, non-current	269,728
Deferred tax liabilities, long-term	27,197
Other long-term liabilities	8,219
Total liabilities assumed	573,302
Net assets acquired	137,689
Goodwill	31,030

Less: Cash acquired	(19,114)
Purchase price, net of cash acquired	$	149,605

The fair values presented were estimated by management, with the assistance of a third-party valuation specialist. Goodwill is the excess over net identifiable assets. The goodwill recognized is attributable to TCS’s assembled workforce and expected synergies from combining the operations of the Company and TCS. None of the goodwill is expected to be deductible for income tax purposes.

In connection with the acquisition, the Company acquired indefinite-lived intangible assets consisting of TCS's trademarks. The acquired trademarks were recorded at fair value using the relief from royalty method.

The Company elected the practical expedient in ASC 805-20-30-29 to recognize and measure contract liabilities assumed from TCS's contracts with customers, consisting of unearned revenue and gift card and store credit liabilities, on the basis of the assessments TCS made in applying ASC 606 to those contracts, rather than performing separate assessments as of the TCS Acquisition Date. As a result, these contract liabilities, which are included within unearned revenue in the table above, were recognized at TCS's carrying value rather than at a remeasured fair value. The Company does not expect the effect of applying this practical expedient, as compared to measuring these contract liabilities at fair value, to be material to the accompanying purchase price allocation.

The initial accounting for the TCS acquisition is incomplete as the valuation of the net assets acquired has not yet been finalized. As such there may be adjustments to the purchase accounting and those adjustments could be material. Management is completing its evaluation during the measurement period, which will not exceed one year from the acquisition date. Any adjustments to the provisional amount arising from new information about facts and circumstances that existed as of the acquisition date will be recognized in the period the adjustment is determined, with a corresponding adjustment to goodwill.

Acquisition of SFV Services

On June 30, 2026 (the “SFV Services Acquisition Date”), the Company, acquired SFV Services and the parent company of SFV-LLGC, LLC, a Florida limited liability company. The integration of SFV Services adds installation, renovation, construction and project-execution capabilities that further differentiates the Company from traditional retailers.

The results of operations of SFV Services have been included in the unaudited consolidated financial statements of the Company from June 30, 2026, the SFV Services Acquisition Date. For both the three and nine months ended September 30, 2026, results of operations included $11.4 million in revenues and $1.2 million in net loss attributable to SFV Services.

The following table summarizes the components of the purchase consideration (in thousands):


Share consideration issued to SFV Services shareholders (1)	$	37,080
Investment in SFV Services	$	37,080

___________________________________________

(1) Represents the aggregate fair value of 7,200,000 unregistered shares of common stock of the Company issued directly to the sellers at price of $5.15 per share, based on the closing trading price of the Company's common stock of $5.79 per share on June 30, 2026, adjusted for discount for lack of marketability of $0.64 per share due to the unregistered status of the shares issued.

The Company has provisionally allocated the purchase consideration based on the estimated fair values of the assets acquired and liabilities assumed at the SFV Services Acquisition Date, as adjusted for measurement period adjustments, as follows (in thousands):


	June 30, 2026		Measurement period adjustments (1)		June 30, 2026 (as adjusted)
Total assets acquired	$	8,454	$	170	$	8,624
Total liabilities assumed	3,669		(803)		2,866
Net assets acquired	4,785		973		5,758
Goodwill	32,295		(973)		31,322
Less: cash acquired	(3,990)		(10)		(4,000)
Purchase price, net of cash acquired	$	33,090	$	(10)	$	33,080

___________________________________________

(1) The measurement period adjustments primarily reflect changes in the estimated fair value of certain assets and liabilities and did not have a material impact on the previously reported results of operations subsequent to the SFV Services Acquisition Date. The measurement period adjustments were recorded to reflect new information obtained from facts and circumstances existing as of the transaction date and did not result from subsequent intervening events.

The fair values presented were estimated by management. The assets acquired and liabilities assumed, other than goodwill, is primarily composed of working capital balances, including cash and cash equivalents, accounts receivable, net, prepaid expenses and other current assets, accounts payable, and unearned revenue. Goodwill is the excess over net identifiable assets. The goodwill recognized is attributable to SFV Services’s assembled workforce and expected synergies from combining the operations of the Company and SFV Services. None of the goodwill is expected to be deductible for income tax purposes.

Acquisition of The Brand House Collective, Inc.

On April 2, 2026, the Company completed the previously announced acquisition of TBHC pursuant to the Agreement and Plan of Merger, dated as of November 24, 2025 (the “TBHC Merger Agreement”), by and among the Company, Knight Merger Sub II, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Knight Merger Sub”), and TBHC. Pursuant to

the TBHC Merger Agreement, upon the terms and subject to the conditions set forth therein, Knight Merger Sub merged with and into TBHC, with TBHC surviving as a wholly owned subsidiary of the Company. TBHC is a retailer of home décor and seasonal merchandise with a network of stores located across multiple markets.

Pursuant to the TBHC Merger Agreement, each outstanding share of TBHC common stock was converted into the right to receive 0.1993 shares of the Company's common stock, par value $0.0001 per share. Holders of fractional shares received cash in lieu thereof based on the Company's closing stock price of $4.62 per share on April 1, 2026. In addition, outstanding TBHC stock options and restricted stock units were settled in accordance with the merger agreement, with eligible awards converted into shares of the Company's common stock based on the exchange ratio and certain out-of-the-money options canceled.

The results of operations of TBHC have been included in the unaudited consolidated financial statements of the Company from April 2, 2026, the TBHC Acquisition Date (as discussed further in Note 2—Summary of Significant Accounting Policies). For the three and nine months ended September 30, 2026, results of operations included $61.2 million and $131.7 million in revenues, respectively, and $15.3 million and $34.2 million in net loss, respectively, attributable to TBHC.

The following table summarizes the components of the purchase consideration (in thousands):


Share consideration issued to TBHC shareholders (1)	$	12,498
Share consideration to TBHC's Incentive Plan (2)	1,145
Settlement of existing TBHC indebtedness (3)	10,000
Settlement of preexisting relationships (4)	48,246
Total fair value of consideration paid	71,889
Fair value of previously held equity interest in TBHC (5)	8,398
Investment in TBHC	$	80,287

___________________________________________

(1) Represents the aggregate fair value of 2,705,263 common shares of the Company issued directly to the sellers based on the closing trading price of the Company's common shares of $4.62 per share on April 2, 2026.

(2) Represents the aggregate fair value of 247,793 common shares of the Company issued in exchange for TBHC RSU equity awards that accelerated upon the change in control.

(3) Represents the settlement of TBHC existing indebtedness.

(4) Represents the effective settlement of preexisting relationships comprised of 1) the settlement of Notes payable and accrued interest due to the Company of $43,732 and $473, respectively, 2) Accounts receivable from inventory sales of $3,836, and 3) Collaboration fee receivable of $205.

(5) Represents the reported amount of the Company’s previously held interests in TBHC.

Prior to the Acquisition Date, the Company owned 39.8% of the outstanding ownership interests in TBHC which it accounted for as an equity method security under the fair value option. The TBHC Acquisition Date fair value of the Company’s previously held ownership interest in TBHC was approximately $8.4 million and is included in the measurement of the investment in TBHC. The Company remeasured the previously held equity investment to its fair value, as of the date of acquisition, based on TBHC’s quoted market price as of April 1, 2026. The remeasurement resulted in an immaterial loss. Refer to Note 2—Summary of Significant Accounting Policies, basis of presentation, and Note 7—Equity Securities for further information.

The Company has provisionally allocated the purchase consideration based on the fair values of the assets acquired and liabilities assumed at the TBHC Acquisition Date, as adjusted for measurement period adjustments, as follows (in thousands):


	April 2, 2026		Measurement period adjustments (1)		April 2, 2026 (as adjusted)
Cash and cash equivalents	$	—	$	—	$	—
Inventories (2)	56,194		(9,010)		47,184
Prepaids and other current assets	7,076		—		7,076
Property and equipment, net	34,128		449		34,577
Operating lease right-of-use assets	121,731		—		121,731
Other long-term assets, net	2,477		—		2,477
Total assets acquired	221,606		(8,561)		213,045
Accounts payable	53,887		—		53,887
Accrued liabilities and unearned revenue	18,786		(210)		18,576

Operating lease liabilities, current	33,520		—		33,520
Long-term debt, net	6,811		—		6,811
Operating lease liabilities, non-current	85,699		—		85,699
Other long-term liabilities	6,317		—		6,317
Total liabilities assumed	205,020		(210)		204,810
Net assets acquired	16,586		(8,351)		8,235
Fair value of previously held equity interest	(8,398)		—		(8,398)

Goodwill	63,701		8,351		72,052
Less: Cash acquired	—		—		—
Purchase price, net of cash acquired	$	71,889	$	—	$	71,889

___________________________________________

(1) The measurement period adjustments reflect changes in the estimated fair values of certain assets and liabilities, primarily related to inventory, property and equipment, and accrued liabilities. The measurement period adjustments were recorded to reflect new information obtained from facts and circumstances existing as of the TBHC Acquisition Date and did not result from subsequent intervening events.

(2) In September 2026, the Company finalized the valuation of acquired inventory. As a result, inventory was adjusted by $9.0 million based on information obtained from the valuation report received in September 2026. The corresponding adjustment of $9.0 million was recognized in cost of goods sold in the consolidated statement of operations, of which the entire amount related to the previous quarter.

The fair values presented were estimated by management, with the assistance of a third-party valuation specialist. Goodwill is the excess over net identifiable assets. The goodwill recognized is attributable to TBHC’s assembled workforce and expected synergies from combining the operations of the Company and TBHC. None of the goodwill is expected to be deductible for income tax purposes.

The initial accounting for the TBHC acquisition is incomplete as the valuation of the net assets acquired has not yet been finalized. As such there may be adjustments to the purchase accounting and those adjustments could be material. Management is completing its evaluation during the measurement period, which will not exceed one year from the TBHC Acquisition Date. Any adjustments to the provisional amount arising from new information about facts and circumstances that existed as of the acquisition date will be recognized in the period the adjustment is determined, with a corresponding adjustment to goodwill.

For the three and nine months ended September 30, 2026, the Company incurred acquisition costs related to the above transactions of $2.6 million and $10.4 million, respectively. These costs are reported in the consolidated statements of operations as general and administrative and relate to professional expenses and other third-party costs.

Pro forma information (unaudited)

The following reflects the unaudited pro forma impact of the current year acquisitions on the Company’s results of operations giving effect to the transactions as though they had occurred on January 1, 2025 (in thousands):


	Three months ended September 30,			Nine months ended September 30,
	2026		2025	2026	2025
Net revenue	$	526,895	492,915	1,565,735	1,597,486
Net income (loss)	(32,660)		(15,097)	(226,524)	(149,441)

- Definition

The entire disclosure for business combination.

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+ Details

EQUITY SECURITIES (Tables)

9 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Equity Securities

Equity securities consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Equity securities accounted for under the equity method under ASC 323	$	37,830	$	39,738
Equity securities accounted for under the fair value option	17,075		26,903

Total equity securities	$	54,905	$	66,641

Schedule of Equity Securities Ownership Interest

The following table includes the Company's equity securities and related ownership interest as of September 30, 2026:


			Ownership interest
Medici Ventures, L.P.			99%
tZERO Group, Inc.			21%

Zulily Newco			25%

Schedule of Equity Method Investments

The following table summarizes the net loss recognized on equity method securities recorded in other income (expense), net in the consolidated statements of operations (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Net loss recognized on the Company's proportionate share of the net assets of our equity method securities	$	(1,023)	$	(565)	$	(1,907)	$	(9,559)
Increase / (decrease) in fair value of equity method securities held under fair value option	—		7,570		(1,521)		(7,085)

BUSINESS COMBINATIONS - The Container Store Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		9 Months Ended
	Jul. 08, 2026	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Business Combination [Line Items]
Goodwill		$ 140,564		$ 6,160
Purchase price, net of cash acquired		$ (13,114)	$ 0
TCS
Business Combination [Line Items]
Cash and cash equivalents	$ 19,114
Accounts receivable, net	17,168
Inventories	139,944
Prepaids and other current assets	20,812
Property and equipment, net	148,198
Intangible assets, net	22,329
Operating lease right-of-use assets	338,565
Other long-term assets, net	4,861
Total assets acquired	710,991
Accounts payable	48,689
Accrued liabilities and unearned revenue	36,693
Unearned revenue	29,057
Operating lease liabilities, current	68,837
Short-term debt, net	282
Long-term debt, net	84,600
Operating lease liabilities, non-current	269,728
Deferred tax liabilities, long-term	27,197
Other long-term liabilities	8,219
Total liabilities assumed	573,302
Net assets acquired	137,689
Goodwill	31,030
Less: Cash acquired	(19,114)
Purchase price, net of cash acquired	$ 149,605

BUSINESS COMBINATIONS - Proforma Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Net revenue	$ 526,895	$ 492,915	$ 1,565,735	$ 1,597,486
Net income (loss)	$ (32,660)	$ (15,097)	$ (226,524)	$ (149,441)

FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following tables summarize the Company's assets and liabilities measured at fair value on a recurring basis using the following levels of inputs (in thousands):


	Fair Value Measurements at September 30, 2026
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	37,658	$	37,658	$	—	$	—
Equity securities, at fair value	17,075		—		—		17,075
Available-for-sale debt securities (1)	17,682		—		—		17,682


Total assets	$	72,415	$	37,658	$	—	$	34,757


	Fair Value Measurements at December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	22,717	$	22,717	$	—	$	—
Equity securities, at fair value	26,903		9,828		—		17,075
Available-for-sale debt securities (1)	18,417		—		—		18,417
Debt securities, at fair value (1)	23,977		—		23,977		—

Total assets	$	92,014	$	32,545	$	23,977	$	35,492
Liabilities:
Loan commitments, at fair value (2)	$	2,766	$	—	$	—	$	2,766

Total liabilities	$	2,766	$	—	$	—	$	2,766

___________________________________________

(1) Included in other long-term assets, net in the consolidated balance sheets.

(2) Included in other long-term liabilities in the consolidated balance sheets.

Schedule of Level 3 Investment Activity

The following table provides activity for the Company's Level 3 investments (in thousands):


	Amount





Level 3 investments at December 31, 2025	$	35,492
Increase due to purchases of Level 3 debt securities	7,168


Decrease due to settlement of Level 3 debt securities	(8,630)
Accrued interest, net on Level 3 debt securities	727
Level 3 investments at September 30, 2026	$	34,757

Schedule of Level 3 Liability Activity

The following table provides activity for the Company's Level 3 liabilities (in thousands):


	Amount


Level 3 liabilities at December 31, 2025	$	2,766
Recognition of conversion feature associated with 2033 Convertible Notes	43,380
Remeasurement of conversion feature due to partial extinguishment	(501)
Remeasurement of conversion feature upon shareholder approval	(20,959)
Reclassification of conversion feature to equity	(21,920)
Derecognition of Level 3 loan commitment	(2,766)
Level 3 liabilities at September 30, 2026	$	—

Fair Value Measurement Inputs and Valuation Techniques

The following table lists the key valuation inputs used in the Company's valuation of the associated conversion feature of the 2033 Convertible Notes as of the following dates (in thousands):



	July 8, 2026			September 24, 2026
Interest-bearing debt	$	94,300		$	125,500
Equity value	469,500			336,800
Total invested capital	$	563,800		$	462,300

Monte Carlo simulation assumptions:
Dividend yield	0.0%			0.0%
Expected term	6.7		years	6.5		years
Risk-free rate	4.4		%	5.1		%
Indicated volatility	86.0		%	84.0		%

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair value of the Company's financial liabilities at September 30, 2026 is estimated below (in thousands).


	Principal Amount		Fair Value
2033 Convertible Notes	$	111,254	$	79,620
Eclipse Exit ABL Credit Facility (a)	87,048		87,048
2019 Elfa Senior Secured Credit (a)	15,005		15,005
BMO Line of Credit (a)	15,500		15,500
Bank of America Revolver (a)	30,509		30,509

Total debt (b)	$	259,316	$	227,682

(a) The fair value of the Company's outstanding borrowings under each of these instruments approximates its reported value, because the interest rate is variable and reflects current market rates. See Note 8—Borrowings for additional information.

(b) The table above excludes finance lease obligations and debt discount.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

LEASES - Schedule of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2024
Leases [Abstract]
Operating lease cost	$ 31,269	$ 323	$ 41,678	$ 1,756
Finance lease cost	79	0	79		$ 0
Short-term lease cost	258	0	484	0
Variable lease cost	$ 135	$ 234	$ 167	$ 851

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Other Commitments [Line Items]
Amounted received for recovery of import duties				$ 9,600
Tariff receivable	$ 300
Interest income (expense), net		$ (3,749)	$ 1,186	(1,270)	$ 2,837
IEEPA Tariff Refund
Other Commitments [Line Items]
Recovery of direct costs	$ 9,200			9,200
Interest income (expense), net				$ 400

BUSINESS SEGMENTS	9 Months Ended
BUSINESS SEGMENTS	Sep. 30, 2026
Segment Reporting [Abstract]
BUSINESS SEGMENTS	17. BUSINESS SEGMENTS The Company currently has one reportable segment, which is its Retail business consisting of Bed Bath & Beyond, Overstock.com, TCS, TBHC, and SFV Services. The accounting policies of the Retail segment are the same as those described in the summary of significant accounting policies. The Chief Operating Decision Maker (CODM), who is the Company's Principal Executive Officer, makes resource allocation decisions based on reports that focus predominantly on Net Revenues, Gross Profit, as well as Operating Income (Loss) measured under GAAP, as reported on the Consolidated Statement of Operations. The CODM also receives the Consolidated Cash and Cash Equivalents balance as a measure of liquidity as reported on the Consolidated Balance Sheet. The CODM uses Operating Income (Loss) to evaluate income generated from segment resources in deciding whether to reinvest profits into the retail segment or into other parts of the entity, such as to make acquisitions or investments. The CODM also uses Operating Income (Loss) to monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing performance of the segment and in establishing bonus metrics.

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

BUSINESS COMBINATIONS - Narrative (Details) $ / shares in Units, $ in Thousands				3 Months Ended	6 Months Ended	9 Months Ended
	Jul. 08, 2026 USD ($) $ / shares shares	Jun. 30, 2026 USD ($) $ / shares shares	Apr. 02, 2026 USD ($) $ / shares shares	Sep. 30, 2026 USD ($) $ / shares	Sep. 30, 2026 USD ($) $ / shares	Sep. 30, 2026 USD ($) $ / shares	Apr. 01, 2026	Dec. 31, 2025 $ / shares
Business Combination [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Share price (usd per share) \| $ / shares	$ 5.37	$ 5.79	$ 4.62
TCS
Business Combination [Line Items]
Merger, equity interest issuable (in shares) \| shares	13,714,287
Revenue included with results of operations				$ 156,400		$ 156,400
Net loss included within results of operations				30,100		30,100
Goodwill expected to be deductible for tax purposes	$ 0
TCS \| Convertible Debt
Business Combination [Line Items]
Principal amount	112,600
TCS \| 5.00% Convertible Senior Notes \| Convertible Debt
Business Combination [Line Items]
Principal amount	$ 112,600
Interest rate	5.00%
SVF Services
Business Combination [Line Items]
Merger, equity interest issuable (in shares) \| shares		7,200,000
Revenue included with results of operations				11,400		11,400
Net loss included within results of operations				(1,200)		1,200
Goodwill expected to be deductible for tax purposes		$ 0
Measurement period adjustment, goodwill				973
The Brand House Collective, Inc.
Business Combination [Line Items]
Merger, equity interest issuable (in shares) \| shares			2,705,263
Revenue included with results of operations				61,200		131,700
Net loss included within results of operations				15,300		34,200
Goodwill expected to be deductible for tax purposes			$ 0
Equity consideration, conversion ratio (in shares) \| $ / shares			0.1993
Ownership interest prior to acquisition							39.80%
Fair value of previously held equity interest in TBHC			$ 8,398
Acquisition-related costs				$ 2,600		$ 10,400
Measurement period adjustment, goodwill					$ 8,351

LEASES - Schedule of Additional Financial Information (Details)	Sep. 30, 2026	Dec. 31, 2025
Leases [Abstract]
Weighted-average remaining lease term—operating leases	5 years 1 month 20 days	6 years 9 months 3 days
Weighted-average discount rate—operating leases	11.00%	7.00%

FAIR VALUE MEASUREMENT - Key Valuation Inputs (Details) - 5.00% Convertible Senior Notes - Convertible Debt $ in Thousands	Sep. 24, 2026 USD ($) yr	Jul. 08, 2026 USD ($) yr
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest-bearing debt	$ 125,500	$ 94,300
Equity value	336,800	469,500
Total invested capital	$ 462,300	$ 563,800
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Expected term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input \| yr	6.5	6.7
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.051	0.044
Indicated volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.840	0.860

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Legal proceedings and contingencies From time to time, the Company is involved in litigation concerning consumer protection, employment, intellectual property, claims under the securities laws, and other commercial matters related to the conduct and operation of the business and the sale of products on the Company's websites. In connection with such litigation, the Company has been in the past and may be in the future subject to judgments requiring the Company to pay significant damages or associated costs. In some instances, other parties may have contractual indemnification obligations to the Company. However, such contractual obligations may prove unenforceable or non-collectible, and if the Company cannot enforce or collect on indemnification obligations, the Company may bear the full responsibility for damages, fees, and costs resulting from such litigation. As a result of such litigation, the Company may also be subject to penalties and equitable remedies that could force the Company to alter important business practices. Such litigation could be costly and time consuming and could divert or distract the Company's management and key personnel from the business operations. Due to the uncertainty of litigation and depending on the amount and the timing, an unfavorable resolution of some or all of such matters could materially affect the Company's business, results of operations, financial position, or cash flows. The Company establishes liabilities when a particular contingency is probable and estimable which are included in accrued liabilities on the consolidated balance sheets. At September 30, 2026 and December 31, 2025, the Company's established liabilities were not material. Tariffs The International Emergency Economic Powers Act ("IEEPA") was used by the Trump administration to impose tariffs on imports. The U.S. Supreme Court ruled on February 20, 2026, that IEEPA does not authorize the President to impose tariffs, and as a result, on March 4, 2026, the Court of International Trade (CIT) ordered the Trump administration to begin refunding all tariffs imposed under IEEPA. On May 29, 2026, the administration appealed the CIT's ruling requiring universal refunds and reliquidation of finally liquidated entries. However, other entries, that are not finally liquidated are already being processed by U.S. Customs and Border Protection ("CBP"). The Company participated in the phase one IEEPA claim submissions, which began on April 20, 2026, and submitted a refund request for tariffs previously paid. During May and June 2026, the Company was informed that entries that paid tariffs of $9.2 million were approved for refunds and that the Company would also be paid $0.3 million of accrued interest. The Company received a nominal initial payment in July 2026 and substantially all remaining consideration in August and September 2026. The Company applied a loss recovery model to account for the tariff refunds and a gain contingency model to account for the accrued interest, as under the loss recovery model, recovery of previously incurred losses is recognized when probable and reasonably estimable. Interest income was recognized upon resolution of all uncertainties associated with the claim and confirmation of the amounts to be received. As of September 30, 2026, the Company has received $9.6 million of its tariff refund claims and related accrued interest, with an immaterial receivable remaining outstanding. The Company recognized $9.2 million of tariff refund claims as an offset against cost of goods sold, the financial statement caption in which the original tariff cost was recognized, and the $0.4 million of interest income in interest income, net, on the Company's consolidated statement of operations. The Company received the remaining receivable in October 2026, and accordingly, there are no remaining uncertainties associated with the tariff refund claims and related accrued interest.

BUSINESS COMBINATIONS - The Brand House Collective Purchase Price (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 02, 2026	Jul. 08, 2026	Jun. 30, 2026
Business Combination [Line Items]
Share price (usd per share)	$ 4.62	$ 5.37	$ 5.79
The Brand House Collective, Inc.
Business Combination [Line Items]
Share consideration issued	$ 12,498
Share consideration to TBHC's Equity Incentive Plan	1,145
Settlement of existing indebtedness	10,000
Settlement of preexisting relationships	48,246
Total fair value of consideration paid	71,889
Fair value of previously held equity interest in TBHC	8,398
Investment in TBHC	$ 80,287
Merger, equity interest issuable (in shares)	2,705,263
Restricted stock units granted under incentive plan (in shares)	247,793
Settlement of notes payable	$ 43,732
Settlement of accrued interest	473
Settlement of accounts receivable	3,836
Settlement of collaboration fee receivable	$ 205

BORROWINGS - Schedule of Debt (Details) $ in Thousands	Sep. 30, 2026 USD ($)
Debt Instrument [Line Items]
Total debt, gross	$ 259,569
Less: Unamortized debt discount	(46,762)
Total long-term debt, net	212,807
Elfa Finance Lease
Debt Instrument [Line Items]
Obligations under finance leases	253
Convertible Debt \| 2033 Convertible Notes
Debt Instrument [Line Items]
Principal Amount	111,254
Less: Unamortized debt discount	(46,000)
Line of Credit \| 2019 Original Revolving Facility \| Revolving Credit Facility \| Elfa International AB
Debt Instrument [Line Items]
Principal Amount	15,005
Line of Credit \| Bank of America Revolver
Debt Instrument [Line Items]
Principal Amount	$ 30,509

GOODWILL AND INTANGIBLE ASSETS, NET - Summary of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2026 USD ($)
Goodwill [Roll Forward]
December 31, 2025 balance	$ 6,160
September 30, 2026 balance	140,564
The Brand House Collective, Inc.
Goodwill [Roll Forward]
Goodwill acquired during the period	72,052
September 30, 2026 balance	72,052
SVF Services
Goodwill [Roll Forward]
Goodwill acquired during the period	31,322
September 30, 2026 balance	31,322
TCS
Goodwill [Roll Forward]
Goodwill acquired during the period	$ 31,030

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

EQUITY SECURITIES - Narrative (Details) $ in Thousands	Apr. 29, 2026 USD ($)	Apr. 02, 2026 USD ($)	Sep. 30, 2026 USD ($)	Mar. 31, 2026	Dec. 31, 2025 USD ($)
Schedule of Equity Method Investments [Line Items]
Total equity securities			$ 54,905		$ 66,641
Equity securities, at fair value			$ 17,075		$ 26,903
The Brand House Collective, Inc.
Schedule of Equity Method Investments [Line Items]
Fair value of previously held equity interest in TBHC		$ 8,398
tZERO Group, Inc. \| Series B Preferred Stock
Schedule of Equity Method Investments [Line Items]
Token conversion ratio	3
tZERO Group, Inc. \| Common Stock
Schedule of Equity Method Investments [Line Items]
Token conversion ratio	8
tZERO Group, Inc.
Schedule of Equity Method Investments [Line Items]
Loan commitment	$ 10,000
tZERO Group, Inc.
Schedule of Equity Method Investments [Line Items]
Indirect ownership percentage	36.20%			49.40%

PROPERTY AND EQUIPMENT, NET - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	$ 379,365	$ 188,811
Less: accumulated depreciation	(202,017)	(175,099)
Total property and equipment, net	177,348	13,712
Computer hardware and software, including internal-use software and website development
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	220,915	186,022
Land and Building
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	24,981	0
Furniture and equipment
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	62,483	1,630
Leasehold improvements
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	56,156	1,159
Construction in progress
Property, Plant, and Equipment [Line Items]
Property and equipment, gross	$ 14,830	$ 0

- Definition

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

LEASES

9 Months Ended

Sep. 30, 2026

Leases [Abstract]

LEASES

9. LEASES

The Company has operating leases for office space, a data center, distribution centers, manufacturing facilities, retail store locations, warehouses, and certain vehicles and equipment. The Company also leases computer hardware under operating leases and has finance leases within its subsidiary Elfa. The Company's operating leases generally have remaining lease terms ranging from one year to thirteen years, some of which may provide the Company renewal options to extend the leases, and some of which may include options to terminate the leases within one year.

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


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Operating lease cost	$	31,269	$	323	$	41,678	$	1,756
Finance lease cost	79		—		79		—
Short-term lease cost	258		—		484		—
Variable lease cost	135		234		167		851

The following table provides a summary of other information related to leases (in thousands):


	Nine months ended September 30,
	2026		2025

Cash payments included in operating cash flows from lease arrangements	$	45,210	$	1,313

The following table provides supplemental balance sheet information related to leases:


	September 30, 2026		December 31, 2025
Weighted-average remaining lease term—operating leases	5.14 years		6.76 years
Weighted-average discount rate—operating leases	11	%	7	%

Maturity of lease liabilities under non-cancellable operating leases as of September 30, 2026, are as follows (in thousands):


Payments due by period	Amount
2026 (Remainder)	$	58,416
2027	122,359
2028	98,063
2029	77,166
2030	56,851
Thereafter	110,062
Total lease payments	522,917
Less interest	79,452
Present value of lease liabilities	$	443,465

During the three and nine months ended September 30, 2026, the Company recognized an immaterial loss and a loss of $4.5 million for impairment related to right-of-use assets and related long-lived store assets arising from store-closure decisions. Impairment expense is recognized in the consolidated statement of operations as other operating expense (income), net.

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2026	Nov. 03, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2026
Document Transition Report	false
Entity File Number	001-41850
Entity Registrant Name	NEIGHBORHOOD INTELLIGENCE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0634302
Entity Address, Address Line One	5310 Maryland Way
Entity Address, City or Town	Brentwood,
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37027
City Area Code	801
Local Phone Number	947-3100
Entity Information, Former Legal or Registered Name	Bed Bath & Beyond, Inc.
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	NXH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,017,208
Entity Central Index Key	0001130713
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2026
Former Address
Document Information [Line Items]
Entity Address, Address Line One	433 W. Ascension Way
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	Murray
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84123

FAIR VALUE MEASUREMENT - Schedule of Level 3 Liability Activity (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2026 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Recognition of conversion feature associated with 2033 Convertible Notes	$ 43,380
Remeasurement of conversion feature due to partial extinguishment	(501)
Remeasurement of conversion feature upon shareholder approval	(20,959)
Reclassification of conversion feature to equity	(21,920)
Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability, beginning balance	2,766
Derecognition of Level 3 loan commitment	(2,766)
Liability, ending balance	$ 0

STOCKHOLDERS' EQUITY	9 Months Ended
STOCKHOLDERS' EQUITY	Sep. 30, 2026
Equity [Abstract]
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS' EQUITY JonesTrading Sales Agreements The Company entered into a Capital on DemandTM Sales Agreement (the "June 2024 Sales Agreement") dated June 10, 2024 with JonesTrading Institutional Services LLC ("JonesTrading"), under which the Company has conducted "at the market" public offerings of its common stock. Under the June 2024 Sales Agreement, JonesTrading, acting as the Company's sales agent or principal, had the ability to offer the Company's common stock in the market on a daily basis, or otherwise, as the Company requested, from time to time. The Company had no obligation to sell shares under the June 2024 Sales Agreement. During the nine months ended September 30, 2026, the Company sold 4,217,044 shares of its common stock pursuant to the June 2024 Sales Agreement and has recognized $15.7 million in proceeds, net of $0.3 million of offering costs, including commissions paid to JonesTrading. During the nine months ended September 30, 2025, the Company sold 12,432,021 shares of its common stock pursuant to the June 2024 Sales Agreement and has recognized $101.7 million in proceeds, net of $2.1 million of offering costs, including commissions paid to JonesTrading. As of September 30, 2026, the Company had zero remaining available under the June 2024 Sales Agreement. On August 4, 2026, the Company entered into a Capital on DemandTM Sales Agreement (the "August 2026 Sales Agreement") with JonesTrading, under which the Company has conducted, and may in the future conduct, "at the market" public offerings of its common stock. Under the August 2026 Sales Agreement, JonesTrading, acting as the Company's sales agent or principal, may offer the Company's common stock in the market on a daily basis, or otherwise, as the Company requests, from time to time. The Company has no obligation to sell shares under the August 2026 Sales Agreement. During the nine months ended September 30, 2026, the Company sold 781,021 shares of its common stock pursuant to the August 2026 Sales Agreement and has recognized $2.6 million in proceeds, net of $0.1 million of offering costs, including commissions paid to JonesTrading. As of September 30, 2026, the Company had $197.3 million remaining available under the August 2026 Sales Agreement. On October 5, 2026, the Company signed an amendment to the August 2026 Sales Agreement, reducing the dollar amount of common stock permitted to be sold under the agreement to $75 million (refer to Note 18—Subsequent Events). Warrants On September 22, 2025, the Company announced that its Board of Directors had declared a warrant dividend distribution (the "Warrant Distribution") to the record holders of the Company's common stock, in the form of warrants to purchase the common stock (the "Warrants"). Holders of common stock at the close of business on October 2, 2025 (the "Record Date") received one warrant for each ten shares of common stock then owned, rounded down to the nearest whole number. The Warrants were distributed to holders of common stock on the terms and conditions described in the Warrant Agreement, dated as of October 7, 2025, between the Company, Computershare, Inc., a Delaware corporation, and its affiliate, Computershare Trust Company, N.A., as Warrant Agent. The Warrants have a cash exercise price of $15.50. As the Early Expiration Price Condition (as defined in the Warrant Agreement) was not met, all outstanding Warrants expired on October 7, 2026 (refer to Note 18—Subsequent Events). During the nine months ended September 30, 2026, 219 warrants were exercised. As of September 30, 2026, 6,884,121 warrants remained outstanding. Reclassification of Convertible Note Derivative Liability On September 24, 2026, the Company’s stockholders approved the issuance of shares of common stock upon conversion of the 2033 Convertible Notes in excess of that cap. Upon approval, the share cap was removed and physical settlement became the default settlement method. As a result, the conversion feature met the criteria for equity classification and no longer required bifurcation as an embedded derivative. On the approval date, the Company remeasured the derivative liability to its fair value of $21.9 million, recognized a gain on the change in the fair value of the derivative liability, and reclassified the derivative liability to additional paid-in capital. See Note 8—Borrowings for more information.

- Definition

The entire disclosure for equity.

+ References

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+ Details

FAIR VALUE MEASUREMENT - Fair Value Of Financial Liabilities (Details) $ in Thousands	Sep. 30, 2026 USD ($)
Principal Amount
Debt Instrument [Line Items]
Debt instrument fair value	$ 259,316
Fair Value
Debt Instrument [Line Items]
Debt instrument fair value	227,682
Eclipse Exit ABL Credit Facility \| Principal Amount
Debt Instrument [Line Items]
Debt instrument fair value	87,048
Eclipse Exit ABL Credit Facility \| Fair Value
Debt Instrument [Line Items]
Debt instrument fair value	87,048
2019 Elfa Senior Secured Credit \| Principal Amount
Debt Instrument [Line Items]
Debt instrument fair value	15,005
2019 Elfa Senior Secured Credit \| Fair Value
Debt Instrument [Line Items]
Debt instrument fair value	15,005
BMO Line of Credit \| Principal Amount
Debt Instrument [Line Items]
Debt instrument fair value	15,500
BMO Line of Credit \| Fair Value
Debt Instrument [Line Items]
Debt instrument fair value	15,500
Bank of America Revolver \| Principal Amount
Debt Instrument [Line Items]
Debt instrument fair value	30,509
Bank of America Revolver \| Fair Value
Debt Instrument [Line Items]
Debt instrument fair value	30,509
5.00% Convertible Senior Notes \| Convertible Debt \| Principal Amount
Debt Instrument [Line Items]
Debt instrument fair value	111,254
5.00% Convertible Senior Notes \| Convertible Debt \| Fair Value
Debt Instrument [Line Items]
Debt instrument fair value	$ 79,620

NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

NET LOSS PER SHARE

16. NET LOSS PER SHARE

The following table sets forth the computation of basic and diluted net loss per share of common stock for the periods indicated (in thousands, except per share amounts):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Numerator:





Net loss attributable to common stockholders	$	(26,144)	$	(4,521)	$	(82,039)	$	(63,746)






Denominator:
Weighted average shares of common stock outstanding—basic	94,911		60,333		79,517		57,190


Weighted average shares of common stock outstanding—diluted	94,911		60,333		79,517		57,190








Net loss per share of common stock:
Basic	$	(0.28)	$	(0.07)	$	(1.03)	$	(1.11)
Diluted	$	(0.28)	$	(0.07)	$	(1.03)	$	(1.11)

The following shares were excluded from the calculation of diluted shares outstanding as their effect would have been anti-dilutive (in thousands):


	Three months ended September 30,		Nine months ended September 30,
	2026	2025	2026	2025
Restricted stock units, PSUs, and Share Options	1,957	2,601	1,957	2,601
Employee Stock Purchase Plan	180	273	180	273
Warrants	6,884	—	6,884	—
Convertible Notes (1)	25,459	—	25,459	—

___________________________________________

(1) Represents shares issuable upon the conversion of the 2033 Convertible Notes issued pursuant to the TCS Merger Agreement to holders of TCS indebtedness. See Note 8—Borrowings for further information.

BUSINESS COMBINATIONS - SFV Purchase Consideration (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jun. 30, 2026	Jul. 08, 2026	Apr. 02, 2026
Business Combination [Line Items]
Share price (usd per share)	$ 5.79	$ 5.37	$ 4.62
SVF Services
Business Combination [Line Items]
Share consideration issued	$ 37,080
Total fair value of consideration paid	$ 37,080
Merger, equity interest issuable (in shares)	7,200
Merger, price per share (in dollars per share)	$ 5.15
Discount for lack of marketability (usd per share)	$ 0.64

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

BUSINESS COMBINATIONS - The Brand House Collective Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			1 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2026	Apr. 02, 2026	Sep. 30, 2026	Sep. 30, 2026	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Business Combination [Line Items]
Goodwill	$ 140,564		$ 140,564	$ 140,564	$ 140,564		$ 6,160
Purchase price, net of cash acquired					(13,114)	$ 0
The Brand House Collective, Inc.
Business Combination [Line Items]
Cash and cash equivalents	0	$ 0	0	0	0
Inventories	47,184	56,194	47,184	47,184	47,184
Measurement period adjustment, inventory			9,000	(9,010)
Prepaids and other current assets	7,076	7,076	7,076	7,076	7,076
Property and equipment, net	34,577	34,128	34,577	34,577	34,577
Measurement period adjustment, fixed assets				449
Operating lease right-of-use assets	121,731	121,731	121,731	121,731	121,731
Other long-term assets, net	2,477	2,477	2,477	2,477	2,477
Total assets acquired	213,045	221,606	213,045	213,045	213,045
Measurement period adjustments, Total assets acquired				(8,561)
Accounts payable	53,887	53,887	53,887	53,887	53,887
Accrued liabilities and unearned revenue	18,576	18,786	18,576	18,576	18,576
Measurement period adjustments, accrued liabilities				(210)
Operating lease liabilities, current	33,520	33,520	33,520	33,520	33,520
Long-term debt, net	6,811	6,811	6,811	6,811	6,811
Operating lease liabilities, non-current	85,699	85,699	85,699	85,699	85,699
Other long-term liabilities	6,317	6,317	6,317	6,317	6,317
Total liabilities assumed	204,810	205,020	204,810	204,810	204,810
Measurement period adjustment, Total liabilities assumed				(210)
Net assets acquired	8,235	16,586	8,235	8,235	8,235
Fair value of previously held equity interest	(8,398)	(8,398)	(8,398)	(8,398)	(8,398)
Goodwill	72,052	63,701	$ 72,052	72,052	$ 72,052
Measurement period adjustment, goodwill				$ 8,351
Less: Cash acquired	0	0
Purchase price, net of cash acquired	$ 71,889	$ 71,889

ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2026

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

13. ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss ("AOCL") consists of pension liability adjustments and foreign currency translation. The components of AOCL, net of tax, were as follows:


	Pension liability adjustment		Foreign currency translation		Total
Balance at December 31, 2025	$	—	$	(2,574)	$	(2,574)
Other comprehensive income (loss) before reclassification, net of tax	4		(2,326)		(2,322)
Amounts reclassified to earnings, net of tax	—		—		—
Net current period other comprehensive income (loss)	4		(2,326)		(2,322)
Balance at September 30, 2026	$	4	$	(4,900)	$	(4,896)

Amounts reclassified from AOCL to earnings for the pension liability adjustment category are generally included in cost of goods sold or general and administrative expenses in the Company’s consolidated statements of operations.

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Summary of Goodwill

Goodwill consist of the following (in thousands):



December 31, 2025 balance	$	6,160
Add: TBHC acquisition	72,052
Add: SFV acquisition	31,322
Add: TCS acquisition	31,030



September 30, 2026 balance	$	140,564

Schedule of Intangible Asset, Finite-Lived

Intangible assets, net consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Intangible assets subject to amortization, gross (1)	$	5,644	$	5,645
Less: accumulated amortization of intangible assets	(4,294)		(3,813)
Intangible assets subject to amortization, net	1,350		1,832
Intangible assets not subject to amortization	67,250		43,308
Total intangible assets, net	$	68,600	$	45,140

___________________________________________

(1) At September 30, 2026, the weighted average remaining useful life for intangible assets subject to amortization, gross was 1.75 years.

Schedule of Intangible Asset, Indefinite-Lived

Intangible assets, net consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Intangible assets subject to amortization, gross (1)	$	5,644	$	5,645
Less: accumulated amortization of intangible assets	(4,294)		(3,813)
Intangible assets subject to amortization, net	1,350		1,832
Intangible assets not subject to amortization	67,250		43,308
Total intangible assets, net	$	68,600	$	45,140

___________________________________________

(1) At September 30, 2026, the weighted average remaining useful life for intangible assets subject to amortization, gross was 1.75 years.

- Definition

Tabular disclosure of goodwill.

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+ Details

PROPERTY AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2026

Property, Plant, and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Computer hardware and software, including internal-use software and website development	$	220,915	$	186,022
Land and Building	24,981		—

Furniture and equipment	62,483		1,630


Leasehold improvements	56,156		1,159
Construction in progress	14,830		—
	379,365		188,811
Less: accumulated depreciation	(202,017)		(175,099)
Total property and equipment, net	$	177,348	$	13,712

Depreciation expense is classified within the corresponding operating expense categories on the consolidated statements of operations as follows (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Cost of goods sold	$	905	$	1	$	1,853	$	90
Technology	2,468		3,607		9,698		11,857

General and administrative	14,583		73		16,456		240
Total depreciation	$	17,956	$	3,681	$	28,007	$	12,187

- Definition

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

LEASES - Schedule of Operating Lease Liability Maturity (Details) $ in Thousands	Sep. 30, 2026 USD ($)
Payments due by period
2026 (Remainder)	$ 58,416
2027	122,359
2028	98,063
2029	77,166
2030	56,851
Thereafter	110,062
Total lease payments	522,917
Less interest	79,452
Present value of lease liabilities	$ 443,465

PROPERTY AND EQUIPMENT, NET - Schedule of Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Property, Plant, and Equipment [Line Items]
Depreciation	$ 17,956	$ 3,681	$ 28,007	$ 12,187
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Property, Plant, and Equipment [Line Items]
Depreciation	905	1	1,853	90
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense
Property, Plant, and Equipment [Line Items]
Depreciation	14,583	73	16,456	240
Income Statement Location [Axis]: nxh:TechnologyExpense
Property, Plant, and Equipment [Line Items]
Depreciation	$ 2,468	$ 3,607	$ 9,698	$ 11,857

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

STOCKHOLDERS' EQUITY - JonesTrading (Details) - USD ($) $ in Millions		9 Months Ended
	Oct. 06, 2026	Sep. 30, 2026	Sep. 30, 2025	Oct. 05, 2026	Aug. 04, 2026
Subsequent Event
Class of Stock [Line Items]
Consideration received on transaction	$ 43.0
June 2024 Sales Agreement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		4,217,044	12,432,021
Consideration received on transaction		$ 15.7	$ 101.7
Stock issuance costs		0.3	$ 2.1
Outstanding amount available under sales program		$ 0.0
August 2026 Sales Agreement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		781,021
Consideration received on transaction		$ 2.6
Stock issuance costs		0.1
Outstanding amount available under sales program		$ 197.3
Stock approved for offering aggregate amount					$ 200.0
August 2026 Sales Agreement \| Subsequent Event
Class of Stock [Line Items]
Stock approved for offering aggregate amount				$ 75.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 5
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GOODWILL AND INTANGIBLE ASSETS, NET - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2026	Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]
Intangible assets subject to amortization, gross	$ 5,644	$ 5,645
Less: accumulated amortization of intangible assets	(4,294)	(3,813)
Intangible assets subject to amortization, net	1,350	1,832
Intangible assets not subject to amortization	67,250	43,308
Total intangible assets, net	$ 68,600	$ 45,140
Weighted average remaining useful life	1 year 9 months

EQUITY SECURITIES - Summary of Equity Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Equity securities accounted for under the equity method under ASC 323	$ 37,830	$ 39,738
Equity securities accounted for under the fair value option	17,075	26,903
Total equity securities	$ 54,905	$ 66,641

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 100,435	$ 175,295
Restricted cash	26,795	26,924
Accounts receivable, net of allowance for credit losses of $2,818 and $3,377	50,501	20,829
Inventories	227,845	5,162
Prepaids and other current assets	38,739	11,905
Total current assets	444,315	240,115
Property and equipment, net	177,348	13,712
Intangible assets, net	68,600	45,140
Goodwill	140,564	6,160
Equity securities, including securities measured at fair value of $17,075 and $26,903	54,905	66,641
Operating lease right-of-use assets	443,587	5,156
Other long-term assets, net, including securities measured at fair value of $17,682 and $42,394	29,292	48,554
Total assets	1,358,611	425,478
Current liabilities:
Accounts payable	208,170	89,992
Accrued liabilities	127,343	51,297
Unearned revenue	47,804	34,429
Operating lease liabilities, current	100,233	928
Short-term debt, net	0	15,500
Total current liabilities	483,550	192,146
Long-term debt, net	212,807	0
Operating lease liabilities, non-current	343,232	5,643
Deferred tax liabilities, long-term	9,436	0
Other long-term liabilities, including commitments measured at fair value of $— and $2,766	17,044	9,745
Total liabilities	1,066,069	207,534
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none	0	0
Common stock, $0.0001 par value, authorized shares -Issued shares - 106,771 and 76,358 , Outstanding shares - 98,626 and 68,863	11	8
Additional paid-in capital	1,401,528	1,239,338
Accumulated deficit	(924,750)	(842,711)
Accumulated other comprehensive loss	(4,896)	(2,574)
Treasury stock at cost - 8,145 and 7,495	(179,675)	(176,478)
Equity attributable to stockholders of Neighborhood Intelligence, Inc.	292,218	217,583
Equity attributable to noncontrolling interests	324	361
Total stockholders' equity	292,542	217,944
Total liabilities and stockholders' equity	$ 1,358,611	$ 425,478

EQUITY SECURITIES - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Fair Value, Option, Quantitative Disclosures [Line Items]
Net loss recognized on the Company's proportionate share of the net assets of our equity method securities	$ (1,023)	$ (565)	$ (1,907)	$ (9,559)
Equity Securities Excluding TBHC
Fair Value, Option, Quantitative Disclosures [Line Items]
Increase / (decrease) in fair value of equity method securities held under fair value option	$ 0	$ 7,570	$ (1,521)	$ (7,085)

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

STOCKHOLDERS' EQUITY - Derivative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Sep. 24, 2026	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
TCS \| Additional paid-in capital
Class of Stock [Line Items]
Reclassification of Convertible Notes conversion feature to equity	$ 21,900	$ 21,920	$ 0	$ 21,920	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Income Statement [Abstract]
Net revenue	$ 509,314	$ 257,187	$ 1,118,228	$ 771,186
Cost of goods sold	336,369	192,024	789,404	580,922
Gross profit	172,945	65,163	328,824	190,264
Operating expenses
Sales and marketing	54,272	36,126	129,690	105,625
Technology	33,549	20,645	79,097	70,584
General and administrative	131,238	11,971	203,628	40,373
Customer service and merchant fees	16,217	8,873	36,814	27,561
Other operating expense (income), net	(262)	0	2,754	(5,790)
Total operating expenses	235,014	77,615	451,983	238,353
Operating loss	(62,069)	(12,452)	(123,159)	(48,089)
Interest income (expense), net	(3,749)	1,186	(1,270)	2,837
Other income (expense), net	20,712	6,978	21,161	(17,780)
Loss before income taxes	(45,106)	(4,288)	(103,268)	(63,032)
Provision (benefit) for income taxes	(18,962)	233	(21,229)	714
Net loss	$ (26,144)	$ (4,521)	$ (82,039)	$ (63,746)
Net loss per share of common stock:
Basic (in dollars per share)	$ (0.28)	$ (0.07)	$ (1.03)	$ (1.11)
Diluted (in dollars per share)	$ (0.28)	$ (0.07)	$ (1.03)	$ (1.11)
Weighted average shares of common stock outstanding:
Basic (in shares)	94,911	60,333	79,517	57,190
Diluted (in shares)	94,911	60,333	79,517	57,190

BORROWINGS

9 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

BORROWINGS

8. BORROWINGS

Long-term debt consists of the following (in thousands):


	September 30, 2026
2033 Convertible Notes	$	111,254
Eclipse Exit ABL Credit Facility	87,048
2019 Elfa Senior Secured Credit	15,005
BMO Line of Credit	15,500
Bank of America Revolver	30,509
Elfa Finance Lease	253
Total debt, gross	$	259,569
Less: Unamortized debt discount	(46,762)

Total long-term debt, net	$	212,807

2033 Convertible Notes

On July 8, 2026, in connection with the Company's acquisition of TCS, the Company issued $112.6 million aggregate principal amount of 5.00% Convertible Senior Notes due 2033 (the "2033 Convertible Notes") to holders of outstanding TCS indebtedness as merger consideration under an indenture, dated as of July 8, 2026 (the “Indenture”), among the Company, the

subsidiary guarantors from time to time party thereto and Computershare Trust Company, National Association, as trustee.

The 2033 Convertible Notes are senior, unsecured obligations of the Company and accrue interest payable semiannually in arrears at a rate of 5.00% per year on April 1 and October 1 of each year, beginning April 1, 2027. The 2033 Convertible Notes mature on July 8, 2033, unless earlier converted or repurchased. The 2033 Convertible Notes are guaranteed on a senior, unsecured basis by certain subsidiaries of the Company.

A holder of 2033 Convertible Notes may, at its option, convert all or any portion of its 2033 Convertible Notes at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date. The Company may, at its election, settle conversions of the 2033 Convertible Notes through physical settlement (i.e., issuance of shares of Company’s common stock, the default settlement method), cash settlement or combination settlement, subject to the terms of the Indenture.

The conversion rate is initially 109.8901 shares of the Company's common stock per $1,000 principal amount of the 2033 Convertible Notes (equivalent to an initial conversion price of approximately $9.10 per share of the Company's common stock). The conversion rate is subject to adjustment upon the occurrence of certain specified events (as set forth in the Indenture), but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) or if the 2033 Convertible Notes are subject to redemption, the Company will in certain circumstances, increase the conversion rate by a number of additional shares of Company common stock (not to exceed 228.8329 shares of Company common stock per $1,000 principal amount of the 2033 Convertible Notes) for a holder who elects to convert its 2033 Convertible Notes in connection with such Make-Whole Fundamental Change or such redemption.

In connection with the issuance of the 2033 Convertible Notes on July 8, 2026, the Company bifurcated the conversion feature from the debt host and accounted for it as a derivative liability measured at fair value, with changes in fair value recognized in earnings. The conversion feature did not initially qualify for the scope exception in Accounting Standards Codification 815, Derivatives and Hedging ("ASC 815") for contracts indexed to, and classified in, the Company’s own equity. Until Company stockholder approval was obtained under applicable stock exchange rules, the number of shares issuable upon conversion was capped at 19.99% of the Company’s outstanding common stock, and any conversion obligation above the cap was required to be settled in cash.

If the Company undergoes certain fundamental changes, holders are entitled to require the Company to repurchase for cash all or any portion of their 2033 Convertible Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2033 Convertible Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

The Indenture provides for customary events of default, which, if any of them occurs, would permit or require the principal, interest and any other monetary obligations on all outstanding 2033 Convertible Notes to become due and payable immediately.

Under the Indenture, the Company agreed to use its reasonable best efforts to obtain the approval of its stockholders that is required under the applicable stock exchange rules in connection with the issuance of the Company's common stock upon conversion of the 2033 Convertible Notes (the “Stockholder Approval”). The Indenture provided that if the Company had not obtained Stockholder Approval on or before the earlier of October 8, 2026 and the date of the first special meeting of the Company’s stockholders held to obtain the Stockholder Approval, the interest payable on the 2033 Convertible Notes would increase to 10.00% per year from that date, and if the Company had not obtained the Stockholder Approval on or before the earlier of January 8, 2027 and the date of the second special meeting of the Company’s stockholders held to obtain the Stockholder Approval, the interest payable on the 2033 Convertible Notes would increase to 12.00% per year until such stockholder approval is obtained.

Because of the settlement limitation described above that applies prior to obtaining the Stockholder Approval, the conversion feature did not, at issuance, qualify for the scope exception to derivative accounting for contracts indexed to the Company's own equity, and therefore required bifurcation as a derivative liability under ASC 815. Using the with-and-without methodology, the Company allocated the $108.5 million acquisition-date fair value first to the derivative liability of $43.4 million and with the residual amount to the debt host of $65.1 million representing the initial net carrying amount. The total debt discount of $47.5 million was created at issuance, representing the difference between the initial net carrying amount of the debt host contract and the principal amount, which will be amortized to interest expense over the term of the 2033 Convertible Notes.

On July 8, 2026, the Company cancelled $1.3 million aggregate principal amount of the 2033 Convertible Notes in connection with the settlement of previously held participation interests in certain TCS loans immediately following the closing of the TCS

Acquisition. The transaction was accounted for as a partial extinguishment of debt, resulting in a loss of approximately $0.1 million.

On September 24, 2026, the Company obtained the Stockholder Approval pursuant to applicable stock exchange requirements, at which point the conversion feature qualified for the scope exception to derivative accounting under ASC 815 and no longer required bifurcation. The derivative liability on the approval date was remeasured to its fair value of $21.9 million and reclassified to additional paid-in capital (Refer to Note 12—Stockholders' Equity).

As of September 30, 2026, the 2033 Convertible Notes had an outstanding principal balance of $111.3 million and unamortized debt discount of $46.0 million, resulting in a net carrying value of $65 million, classified within long-term debt. Interest expense related to the 2033 Convertible Notes, consisting of contractual interest and amortization of the debt discount, was $2.2 million for each of the three and nine months ended September 30, 2026, (effective interest rate of 14.41%). No conversions occurred during the three and nine months ended September 30, 2026.

Eclipse Exit Asset-Based Lending (ABL) Credit Facility

On January 28, 2025, The Container Store, Inc. and certain of their domestic subsidiaries (the “TCS Company Parties") entered into an exit asset-based revolving credit agreement with Eclipse Business Capital LLC, providing for a $140 million aggregate revolving credit commitment, subject to a borrowing base as set forth in the Exit ABL Credit Agreement (the "Exit ABL Credit Facility"). As of September 30, 2026, $22.5 million was available to borrow under the Exit ABL Credit Facility.

The Exit ABL Credit Facility bears interest at a percentage per annum equal to SOFR plus 4.25% and matures on January 28, 2028. Interest expense related to the Exit ABL Credit Facility was $2.2 million for the three and nine months ended September 30, 2026. The Exit ABL Credit Facility is secured by substantially all assets of the TCS Company Parties (subject to customary exceptions), with a first-priority lien on inventory, accounts receivable (including credit card receivables) and other working capital assets (and proceeds thereof) (the “ABL Priority Assets”) and a second-priority lien on equipment, real property, intellectual property, investment property and other fixed assets (and proceeds thereof) (the “Term Priority Assets"). The Exit ABL Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur additional liens and contingent liabilities; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve ourselves, engage in businesses that are not in a related line of business; make loans, advances or guarantees engage in transactions with affiliates; and make investments. In addition, the financing agreements contain certain cross-default provisions. The Company is required to maintain minimum availability of at least 10% of the greater of the borrowing base and the aggregate commitments (as defined in the agreement). As of September 30, 2026, the Company was in compliance with all covenants under the Exit ABL Credit Facility and no Event of Default has occurred.

2019 Elfa Senior Secured Credit Facilities

Elfa International AB, a wholly owned Swedish subsidiary ("Elfa"), has a master credit agreement with Nordea Bank AB, which consists of (i) an SEK 110.0 million (approximately $11.0 million as of September 30, 2026) revolving credit facility (the “2019 Original Revolving Facility”), (ii) upon Elfa’s request, an additional SEK 115.0 million (approximately $11.5 million as of September 30, 2026) revolving credit facility ( the “2019 Elfa Revolving Facilities”), and (iii) an uncommitted term loan facility in the amount of SEK 25.0 million (approximately $2.5 million as of September 30, 2026), which is subject to receipt of Nordea Bank’s commitment and satisfaction of specified conditions. The term for the 2019 Elfa Senior Secured Credit Facilities matures on September 30, 2028. Loans borrowed under the 2019 Elfa Revolving Facilities bear interest at Nordea Bank’s base rate +1.40%. Any loan borrowed under the Incremental Term Facility would bear interest at Stibor +1.70%. Interest expense related to the 2019 Elfa Senior Secured Credit Facilities was SEK 0.4 million (approximately less than $0.1 million) for the three and nine months ended September 30, 2026.

The 2019 Elfa Senior Secured Credit Facilities are secured by the majority of assets of Elfa. The 2019 Elfa Senior Secured Credit Facilities contains a number of covenants that, among other things, restrict Elfa’s ability, subject to specified exceptions, to incur additional liens, sell or dispose of assets, merge with other companies, engage in businesses that are not in a related line of business and make guarantees. In addition, Elfa is required to maintain (i) a Group Equity Ratio (as defined in the 2019 Elfa Senior Secured Credit Facilities) of not less than 32.5% and (ii) a consolidated ratio of net debt to EBITDA (as defined in the 2019 Elfa Senior Secured Credit Facilities) of less than 3.20. As of September 30, 2026, this facility is fully drawn and Elfa was

in compliance with all covenants under the 2019 Elfa Senior Secured Credit Facilities and no Event of Default (as defined in the 2019 Elfa Senior Secured Credit Facilities) had occurred.

BMO Line of Credit

In October 2024, the Company entered into a Loan and Security Agreement (the "Loan Agreement") with BMO Bank N.A. (in such capacity, "BMO"), pursuant to which BMO agrees to lend the Company up to $25.0 million on a one-year revolving line of credit to aid the Company in securing strategic ventures. As of September 30, 2026, the Company had $15.5 million in outstanding borrowings and $9.5 million in outstanding standby letters of credit. Accordingly, no additional borrowing capacity was available under the BMO Line of Credit. In connection with the Loan Agreement, BMO issued a revolving line of credit promissory note (the "Revolving Note") and granted a lien on the cash collateral account specified in the Loan Agreement (the "Cash Collateral Account"). The revolving line of credit bears interest on the unpaid principal balance at an annual rate equal to the Secured Overnight Financing Rate ("SOFR") rate, for a one-month interest period plus 1.00%, established by the Federal Reserve Bank of New York. For the three and nine months ended September 30, 2026, the Company recorded interest expense of $0.2 million and $0.6 million related to the BMO Line of Credit. For the three and nine months ended September 30, 2025, the Company recorded interest expense of $0.2 million and $0.9 million related to the BMO Line of Credit.The Company is obligated to pay certain commitment fees on undrawn amounts under the Loan Agreement in amounts specified in the Loan Agreement. The Loan Agreement and Revolving Note was scheduled to terminate on October 18, 2026, and loans thereunder may be borrowed, repaid, and reborrowed up to such date. In September 2025, the Company and BMO extended the term of the Loan Agreement and Revolving Note by one year to October 2026. In October 2026, the Company and BMO extended the term of the Loan Agreement and Revolving Note for an additional year, which will now terminate in October 2027 (Refer to Note 18—Subsequent Events).

The Loan Agreement is subject to limited affirmative covenants and negative covenants, including the requirement that the Company maintain cash in the Cash Collateral Account in an amount that is three percent greater than BMO's aggregate commitments under the Loan Agreement. For the three and nine months ended September 30, 2026, the Company was in compliance with its debt covenants and continues to monitor ongoing compliance with the debt covenants.

Bank of America Revolver

On April 2, 2026, following the acquisition of TBHC, TBHC entered into a Sixth Amendment to Third Amended and Restated Credit Agreement (as the same has been amended from time to time, the “2023 Credit Agreement”) with Bank of America, N.A., as administrative agent and collateral agent, and lender, pursuant to which Bank of America, N.A. agreed to lend the Company up to $90.0 million. During the three and nine months ended September 30, 2026, the Company borrowed $19.0 million and $44.9 million, respectively and repaid $3.1 million and $21.2 million, respectively under the 2023 Credit Agreement. For the three and nine months ended September 30, 2026, the Company recorded interest expense of $0.6 million and $1.0 million related to the 2023 Credit Agreement. The 2023 Credit Agreement matures on March 31, 2028 and bears interest at a fluctuating rate per annum equal to the highest of (a) the federal funds rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) Term SOFR plus 1.00%. The fee paid to the lenders on the unused portion of the 2023 Credit Agreement is 25 basis points when usage is greater than 50% of the total commitment amount; otherwise, the fee on the unused portion is 37.5 basis points per annum.

Pursuant to the 2023 Credit Agreement, the Company entered into a pledge and security agreement with the administrative agent to the 2023 Credit Agreement, pledging its equity interests in TBHC. The Company has not guaranteed the obligations under the 2023 Credit Agreement or pledged any assets, other than the pledged equity interests in TBHC as collateral.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S45
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

REVENUE AND CONTRACT LIABILITY - Schedule of Deferred Revenues (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2026 USD ($)
Contract with Customer, Liability [Roll Forward]
Beginning balance	$ 34,429
Increase due to deferral of revenue at period end, net	9,237
Increase due to business combinations	39,854
Decrease due to beginning and acquired contract liabilities recognized as revenue	35,716
Ending balance	$ 47,804

BUSINESS SEGMENTS - Narrative (Details)	9 Months Ended
BUSINESS SEGMENTS - Narrative (Details)	Sep. 30, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	1

GOODWILL AND INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

6. GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill consist of the following (in thousands):



December 31, 2025 balance	$	6,160
Add: TBHC acquisition	72,052
Add: SFV acquisition	31,322
Add: TCS acquisition	31,030



September 30, 2026 balance	$	140,564

Goodwill recognized during the nine months ended September 30, 2026, relates to the Company's acquisitions. Refer to Note 3—Business Combinations for additional information.

Intangible assets, net consist of the following (in thousands):


	September 30, 2026		December 31, 2025
Intangible assets subject to amortization, gross (1)	$	5,644	$	5,645
Less: accumulated amortization of intangible assets	(4,294)		(3,813)
Intangible assets subject to amortization, net	1,350		1,832
Intangible assets not subject to amortization	67,250		43,308
Total intangible assets, net	$	68,600	$	45,140

___________________________________________

(1) At September 30, 2026, the weighted average remaining useful life for intangible assets subject to amortization, gross was 1.75 years.

REVENUE AND CONTRACT LIABILITY

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

REVENUE AND CONTRACT LIABILITY

15. REVENUE AND CONTRACT LIABILITY

Unearned Revenue

The following table provides information about unearned revenue from contracts with customers, including significant changes in unearned revenue balances during the periods presented (in thousands):


	Amount



Unearned revenue at December 31, 2025	34,429
Increase due to deferral of revenue at period end, net	9,237
Increase due to business combinations	39,854
Decrease due to beginning and acquired contract liabilities recognized as revenue	(35,716)
Unearned revenue at September 30, 2026	$	47,804

Unearned revenue consists primarily of customer orders shipped but not yet delivered, gift cards, store credits, and loyalty program rewards. At September 30, 2026 and December 31, 2025, the Company had an additional $2.3 million and $2.4 million, respectively, of unearned contract revenue classified within other long-term liabilities on the consolidated balance sheets. The Company's total unearned revenue related to outstanding loyalty program rewards was $4.5 million and $4.1 million at September 30, 2026 and December 31, 2025, respectively. Breakage income related to loyalty program rewards and gift cards is recognized in net revenue in the consolidated statements of operations. Breakage recognized in revenue was $0.7 million and $2.0 million for the three months ended September 30, 2026 and 2025, respectively and $2.3 million and $9.7 million for the nine months ended September 30, 2026 and 2025, respectively. The timing of revenue recognition of these reward dollars is driven by actual customer activities, such as redemptions and expirations. The increase due to business combinations represents unearned revenue assumed in acquisitions of TCS, SFV, and TBHC. Refer to Note 3—Business Combinations for additional information.

Sales returns allowance

The following table provides additions to and deductions from the sales returns allowance, which is included in the Accrued liabilities balance in the consolidated balance sheets (in thousands):


	Amount



Allowance for returns at December 31, 2025	7,722
Additions due to business combinations	3,296
Additions to the allowance	63,058
Deductions from the allowance	(65,046)
Allowance for returns at September 30, 2026	$	9,030

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

LEASES - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
LEASES - Narrative (Details) $ in Millions	Sep. 30, 2026 USD ($)	Sep. 30, 2026 USD ($)
Lessee, Lease, Description [Line Items]
Lease impairment (gain) loss	$ 0.0	$ 4.5
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	13 years	13 years

NET LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted net loss per share of common stock for the periods indicated (in thousands, except per share amounts):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Numerator:





Net loss attributable to common stockholders	$	(26,144)	$	(4,521)	$	(82,039)	$	(63,746)






Denominator:
Weighted average shares of common stock outstanding—basic	94,911		60,333		79,517		57,190


Weighted average shares of common stock outstanding—diluted	94,911		60,333		79,517		57,190








Net loss per share of common stock:
Basic	$	(0.28)	$	(0.07)	$	(1.03)	$	(1.11)
Diluted	$	(0.28)	$	(0.07)	$	(1.03)	$	(1.11)

Schedule of Antidilutive Securities

The following shares were excluded from the calculation of diluted shares outstanding as their effect would have been anti-dilutive (in thousands):


	Three months ended September 30,		Nine months ended September 30,
	2026	2025	2026	2025
Restricted stock units, PSUs, and Share Options	1,957	2,601	1,957	2,601
Employee Stock Purchase Plan	180	273	180	273
Warrants	6,884	—	6,884	—
Convertible Notes (1)	25,459	—	25,459	—

___________________________________________

LEASES (Tables)

9 Months Ended

Sep. 30, 2026

Leases [Abstract]

Schedule of Components of Lease Costs

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


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Operating lease cost	$	31,269	$	323	$	41,678	$	1,756
Finance lease cost	79		—		79		—
Short-term lease cost	258		—		484		—
Variable lease cost	135		234		167		851

Schedule of Other Lease Information

The following table provides a summary of other information related to leases (in thousands):


	Nine months ended September 30,
	2026		2025

Cash payments included in operating cash flows from lease arrangements	$	45,210	$	1,313

Schedule of Additional Financial Information

The following table provides supplemental balance sheet information related to leases:


	September 30, 2026		December 31, 2025
Weighted-average remaining lease term—operating leases	5.14 years		6.76 years
Weighted-average discount rate—operating leases	11	%	7	%

Schedule of Operating Lease Liability Maturity

Maturity of lease liabilities under non-cancellable operating leases as of September 30, 2026, are as follows (in thousands):


Payments due by period	Amount
2026 (Remainder)	$	58,416
2027	122,359
2028	98,063
2029	77,166
2030	56,851
Thereafter	110,062
Total lease payments	522,917
Less interest	79,452
Present value of lease liabilities	$	443,465

REVENUE AND CONTRACT LIABILITY - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025	Dec. 31, 2025
Disaggregation of Revenue [Line Items]
Unearned contract revenue	$ 2,300		$ 2,300		$ 2,400
Unearned revenue	47,804		47,804		34,429
Gift card and club rewards breakage	700	$ 2,000	2,300	$ 9,700
Club O Reward Points
Disaggregation of Revenue [Line Items]
Unearned revenue	$ 4,500		$ 4,500		$ 4,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

BORROWINGS - Narrative (Details) $ / shares in Units, $ in Thousands, kr in Millions			1 Months Ended	3 Months Ended			9 Months Ended
	Jul. 08, 2026 USD ($) $ / shares	Apr. 02, 2026 USD ($)	Oct. 31, 2024 USD ($)	Sep. 30, 2026 USD ($)	Sep. 30, 2026 SEK (kr)	Sep. 30, 2025 USD ($)	Sep. 30, 2026 USD ($)	Sep. 30, 2026 SEK (kr)	Sep. 30, 2025 USD ($)	Sep. 30, 2026 SEK (kr)
Debt Instrument [Line Items]
Gain on loan commitment							$ (2,766)		$ 0
Long-term debt, gross				$ 212,807			212,807
Unamortized discount				(46,762)			(46,762)
TCS
Debt Instrument [Line Items]
Settlement of TCS's Convertible Notes issued at fair value	$ 108,470
Derivative liability assumed	43,400
Debt assumed	65,100
Debt discount	47,500
Convertible Debt
Debt Instrument [Line Items]
Reclassification from derivative liability to equity				21,900			21,900
Convertible Debt \| TCS
Debt Instrument [Line Items]
Principal amount	$ 112,600
5.00% Convertible Senior Notes \| Convertible Debt
Debt Instrument [Line Items]
Conversion price (usd per share) \| $ / shares	$ 9.10
Convertible debt, maximum number of shares issuable as a percentage of common stock outstanding	0.1999
Debt redemption price as percentage of principal amount	100.00%
Payments on long-term debt	$ 1,300
Gain on loan commitment	$ 100
Unamortized discount				(46,000)			(46,000)
Long-term debt				$ 65,000			65,000
Interest expense							$ 2,200
Interest rate effective percentage				14.41%			14.41%			14.41%
Principal Amount				$ 111,254			$ 111,254
5.00% Convertible Senior Notes \| Convertible Debt \| Initial Conversion Rate
Debt Instrument [Line Items]
Conversion ratio	0.1098901
5.00% Convertible Senior Notes \| Convertible Debt \| Make Whole Fundamental Change Conversion Ratio
Debt Instrument [Line Items]
Conversion ratio	0.2288329
5.00% Convertible Senior Notes \| Convertible Debt \| TCS
Debt Instrument [Line Items]
Principal amount	$ 112,600
Interest rate	5.00%
5.00% Convertible Senior Notes \| Convertible Debt \| Debt Interest Rate, Scenario One
Debt Instrument [Line Items]
Interest rate	10.00%
5.00% Convertible Senior Notes \| Convertible Debt \| Debt Interest Rate, Scenario Two
Debt Instrument [Line Items]
Interest rate	12.00%
BMO Line of Credit \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense				200		$ 200	600		$ 900
Line of credit facility, maximum borrowing capacity			$ 25,000
Remaining borrowing capacity				0			0
Debt instrument, basis spread on variable rate			1.00%
Debt instrument, term			1 year
Letters of credit outstanding				$ 9,500			$ 9,500
Debt instrument, interest period			1 month
Debt covenant, cash collateral, percent greater than aggregate commitment				3.00%			3.00%			3.00%
Principal Amount				$ 15,500			$ 15,500
Bank of America Revolver \| Line of Credit
Debt Instrument [Line Items]
Interest expense				600			1,000
Line of credit facility, maximum borrowing capacity		$ 90,000
Proceeds from revolving line of credit, net				19,000			44,900
Repayments on revolving line of credit				3,100			21,200
Principal Amount				30,509			30,509
Bank of America Revolver \| Line of Credit \| Greater Than 50% Of Total Commitment Amount
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
Bank of America Revolver \| Line of Credit \| Other Scenario
Debt Instrument [Line Items]
Commitment fee percentage		0.375%
Bank of America Revolver \| Line of Credit \| Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Bank of America Revolver \| Line of Credit \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Eclipse Exit ABL Credit Facility \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense				2,200			2,200
Remaining borrowing capacity				22,500			22,500
Principal Amount				87,048			87,048
Eclipse Exit ABL Credit Facility \| Line of Credit \| Revolving Credit Facility \| TCS
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 140,000
Debt instrument, basis spread on variable rate	4.25%
Covenant minimum availability percentage	10.00%
2019 Original Revolving Facility \| Line of Credit \| Revolving Credit Facility \| Elfa International AB
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				11,000			11,000			kr 110.0
Principal Amount				15,005			15,005
2019 Elfa Revolving Facilities \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense				100	kr 0.4		100	kr 0.4
Line of credit facility, maximum borrowing capacity				$ 11,500			$ 11,500			kr 115.0
Debt instrument, basis spread on variable rate							1.40%	1.40%
Minimum group equity ratio				32.50%			32.50%			32.50%
Consolidated ratio of net debt to EBITDA at end of each calendar quarter				3.20			3.20			3.20
Term Loan Facility \| Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 2,500			$ 2,500			kr 25.0
Debt instrument, basis spread on variable rate							1.70%	1.70%

SUBSEQUENT EVENTS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			9 Months Ended
	Oct. 07, 2026	Oct. 06, 2026	Sep. 30, 2026	Oct. 15, 2026	Oct. 05, 2026	Aug. 04, 2026	Oct. 02, 2025
Subsequent Event [Line Items]
Warrant, exercise price (in dollars per share)							$ 15.50
August 2026 Sales Agreement
Subsequent Event [Line Items]
Stock approved for offering aggregate amount						$ 200,000
Sale of stock, number of shares issued in transaction (in shares)			781,021
Consideration received on transaction			$ 2,600
Subsequent Event
Subsequent Event [Line Items]
Consideration received on transaction		$ 43,000
Proceeds for issuance of common stock and warrants		$ 45,500
Warrants expired in the period (in shares)	6,884,121
Sale of intangible assets, agreed upon sales price				$ 5,000
Subsequent Event \| Common Stock
Subsequent Event [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		10,881,192
Subsequent Event \| August 2026 Sales Agreement
Subsequent Event [Line Items]
Stock approved for offering aggregate amount					$ 75,000
Pre Funded Warrants \| Subsequent Event
Subsequent Event [Line Items]
Number of securities called by warrants (in shares)		5,241,997
Additional Warrants Issued On October 6 \| Subsequent Event
Subsequent Event [Line Items]
Number of securities called by warrants (in shares)		16,123,189
Warrant, exercise price (in dollars per share)		$ 3.45
Warrant exercise period		6 months
Warrants term		5 years

FAIR VALUE MEASUREMENT

9 Months Ended

Sep. 30, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

4. FAIR VALUE MEASUREMENT

The Company accounts for fair value measurements in accordance with ASC 820, which defines fair value, establishes a framework for measurement and expands disclosure about fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and classifies the inputs to measure fair value into the following hierarchy:

Level 1: Quoted prices for identical assets or liabilities in active markets.

Level 2: Quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and model-driven valuations whose inputs are observable or whose significant value drivers are observable.

Level 3: Pricing inputs that are unobservable for the assets and liabilities and include situations where there is little, if any, market activity for the assets and liabilities.

The inputs into the determination of fair value require significant management judgment or estimation.

The following tables summarize the Company's assets and liabilities measured at fair value on a recurring basis using the following levels of inputs (in thousands):


	Fair Value Measurements at September 30, 2026
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	37,658	$	37,658	$	—	$	—
Equity securities, at fair value	17,075		—		—		17,075
Available-for-sale debt securities (1)	17,682		—		—		17,682


Total assets	$	72,415	$	37,658	$	—	$	34,757


	Fair Value Measurements at December 31, 2025
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	22,717	$	22,717	$	—	$	—
Equity securities, at fair value	26,903		9,828		—		17,075
Available-for-sale debt securities (1)	18,417		—		—		18,417
Debt securities, at fair value (1)	23,977		—		23,977		—

Total assets	$	92,014	$	32,545	$	23,977	$	35,492
Liabilities:
Loan commitments, at fair value (2)	$	2,766	$	—	$	—	$	2,766

Total liabilities	$	2,766	$	—	$	—	$	2,766

___________________________________________

(1) Included in other long-term assets, net in the consolidated balance sheets.

(2) Included in other long-term liabilities in the consolidated balance sheets.

The following table provides activity for the Company's Level 3 investments (in thousands):


	Amount





Level 3 investments at December 31, 2025	$	35,492
Increase due to purchases of Level 3 debt securities	7,168


Decrease due to settlement of Level 3 debt securities	(8,630)
Accrued interest, net on Level 3 debt securities	727
Level 3 investments at September 30, 2026	$	34,757

The following table provides activity for the Company's Level 3 liabilities (in thousands):


	Amount


Level 3 liabilities at December 31, 2025	$	2,766
Recognition of conversion feature associated with 2033 Convertible Notes	43,380
Remeasurement of conversion feature due to partial extinguishment	(501)
Remeasurement of conversion feature upon shareholder approval	(20,959)
Reclassification of conversion feature to equity	(21,920)
Derecognition of Level 3 loan commitment	(2,766)
Level 3 liabilities at September 30, 2026	$	—

The Company utilized the "With-and-Without" method for valuation of the conversion feature. This methodology involves the valuation of the 2033 Convertible Notes: (i) inclusive of all terms, features, and conditions and (ii) exclusive of the benefits provided by the embedded derivatives, and infers the difference in value between (i) and (ii) as reflective of its fair value.

The following table lists the key valuation inputs used in the Company's valuation of the associated conversion feature of the 2033 Convertible Notes as of the following dates (in thousands):



	July 8, 2026			September 24, 2026
Interest-bearing debt	$	94,300		$	125,500
Equity value	469,500			336,800
Total invested capital	$	563,800		$	462,300

Monte Carlo simulation assumptions:
Dividend yield	0.0%			0.0%
Expected term	6.7		years	6.5		years
Risk-free rate	4.4		%	5.1		%
Indicated volatility	86.0		%	84.0		%

The fair value of the Company's financial liabilities at September 30, 2026 is estimated below (in thousands).


	Principal Amount		Fair Value
2033 Convertible Notes	$	111,254	$	79,620
Eclipse Exit ABL Credit Facility (a)	87,048		87,048
2019 Elfa Senior Secured Credit (a)	15,005		15,005
BMO Line of Credit (a)	15,500		15,500
Bank of America Revolver (a)	30,509		30,509

Total debt (b)	$	259,316	$	227,682

(b) The table above excludes finance lease obligations and debt discount.

The fair values presented are based on pertinent information available to management as of the respective period end date. The estimated fair values of the Company's debt are classified as Level 2 in the fair value hierarchy, except for the 2033 Convertible Notes, which are classified at Level 3 in the fair value hierarchy. For the 2033 Convertible Notes, the Company applied the discounted cash flow method under the income approach utilizing a market yield assumption. A Monte Carlo simulation was applied to determine the simulated stock price at each payment date and event that may trigger conversion of the notes. In scenarios without forced redemption/conversion, the Company assumed the holder would force the conversion of the notes to maximize economic returns associated with conversion.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Cash flows from operating activities:
Net loss	$ (82,039)	$ (63,746)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	28,494	12,803
Amortization of debt issuance and original issue discount cost	1,159	0
Non-cash operating lease cost	2,407	1,461
Stock-based compensation to employees and directors	2,146	8,002
Deferred income tax	(18,287)	0
Gain on sale of intangible assets	0	(5,790)
Impairment of long-lived assets (including leases)	4,491	0
Gain on lease termination	(2,232)	0
Loss on disposal of fixed assets	1,463	0
Loss from equity method securities	3,427	16,644
Gain on loan commitment	(2,766)	0
Gain on fair value adjustment for derivative	(20,959)	0
Other non-cash adjustments	(913)	1,720
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(11,715)	(1,460)
Inventories	(35,707)	4,333
Prepaids and other current assets	(1,445)	2,251
Other long-term assets, net	186	(493)
Accounts payable	16,630	12,375
Accrued liabilities	1,324	(26,990)
Unearned revenue	2,578	(7,275)
Operating lease assets and liabilities, net	(3,447)	(1,016)
Other long-term liabilities	(3,256)	(3,031)
Income taxes payable	12	0
Net cash used in operating activities	(118,449)	(50,212)
Cash flows from investing activities:
Expenditures for property and equipment	(11,963)	(5,249)
Purchase of intangible assets	(1,973)	(15,214)
Acquisitions of businesses, net of cash acquired	13,114	0
Purchase of equity securities	0	(8,000)
Proceeds from the sale of intangible assets	0	6,250
Disbursement of notes receivable	(27,168)	(8,232)
Proceeds from settlement of loan participation agreement	6,465	0
Other investing activities, net	50	29
Net cash used in investing activities	(21,475)	(30,416)
Cash flows from financing activities:
Proceeds from sale of common stock, net of offering costs	18,329	101,690
Proceeds from short-term debt	7,500	0
Payments on short-term debt	0	(7,000)
Proceeds from long-term debt	15,778	0
Payments on long-term debt	(73)	0
Proceeds from revolving line of credit, net	26,298	0
Refinancing costs	(149)	0
Repurchase of shares	0	(6,218)
Payments of taxes withheld upon vesting of employee stock awards	(1,781)	(544)
Proceeds from employee stock purchase plan	500	683
Dividends from token offering	(37)	0
Other financing activities, net	(348)	341
Net cash provided by financing activities	66,017	88,952
Effect of exchange rate changes on cash	(1,082)	0
Net increase (decrease) in cash, cash equivalents, and restricted cash	(74,989)	8,324
Cash, cash equivalents, and restricted cash, beginning of period	202,219	186,093
Cash, cash equivalents, and restricted cash, end of period	127,230	194,417
Non-cash investing and financing activities:
Non-cash acquisition of TBHC, SFV Services, and TCS	$ 271,198	$ 0

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Parent	Common stock	Common stock The Brand House Collective, Inc.	Common stock SVF Services	Common stock TCS	Treasury stock	Additional paid-in capital	Additional paid-in capital The Brand House Collective, Inc.	Additional paid-in capital SVF Services	Additional paid-in capital TCS	Accumulated deficit	Accumulated other comprehensive loss	Noncontrolling interest
Beginning balance (in shares) at Dec. 31, 2024			59,560
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock (in shares)			341
Common stock issued for ESPP purchases (in shares)			138
Common stock issued in the acquisition (in shares)				0	0	0
Common stock sold through offerings (in shares)			12,432
Other (in shares)			0
Ending balance (in shares) at Sep. 30, 2025			72,471
Beginning balance, treasury stock (in shares) at Dec. 31, 2024							6,491
Increase (Decrease) in Stockholders' Equity
Repurchases of common stock (in shares)							903
Tax withholding upon vesting of employee stock awards (in shares)							93
Treasury stock retained in the participation agreement settlement (in shares)							0
Ending balance, treasury stock (in shares) at Sep. 30, 2025							7,487
Beginning balance at Dec. 31, 2024			$ 5				$ (169,676)	$ 1,072,869				$ (740,466)	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors								8,002
Common stock issued for ESPP purchases								683
Common stock sold through offerings, net			2					101,688
Common stock issued in acquisitions					$ 0	$ 0			$ 0	$ 0	$ 0
Reclassification of Convertible Notes conversion feature to equity											0
Shares issued in settlement of assumed liabilities								0
Net loss	$ (63,746)											(63,746)
Repurchases of common stock							(6,218)
Tax withholding upon vesting of employee stock awards							(544)
Treasury stock retained in the participation agreement settlement							0
Proceeds from security token offering, net														341
Dividends from token offering														0
Net other comprehensive loss	0												0
Net loss attributable to noncontrolling interests														0
Ending balance at Sep. 30, 2025	202,940	$ 202,599	$ 7				$ (176,438)	1,183,242				(804,212)	0	341
Beginning balance (in shares) at Jun. 30, 2025			64,322
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock (in shares)			2
Common stock issued for ESPP purchases (in shares)			47
Common stock issued in the acquisition (in shares)				0	0	0
Common stock sold through offerings (in shares)			8,100
Other (in shares)			0
Ending balance (in shares) at Sep. 30, 2025			72,471
Beginning balance, treasury stock (in shares) at Jun. 30, 2025							6,917
Increase (Decrease) in Stockholders' Equity
Repurchases of common stock (in shares)							570
Tax withholding upon vesting of employee stock awards (in shares)							0
Treasury stock retained in the participation agreement settlement (in shares)							0
Ending balance, treasury stock (in shares) at Sep. 30, 2025							7,487
Beginning balance at Jun. 30, 2025			$ 6				$ (171,526)	1,102,079				(799,691)	0	337
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors								3,522
Common stock issued for ESPP purchases								174
Common stock sold through offerings, net			1					77,467
Common stock issued in acquisitions					$ 0	$ 0			0	0	0
Reclassification of Convertible Notes conversion feature to equity											0
Shares issued in settlement of assumed liabilities								0
Net loss	(4,521)											(4,521)
Repurchases of common stock							(4,907)
Tax withholding upon vesting of employee stock awards							(5)
Treasury stock retained in the participation agreement settlement							0
Proceeds from security token offering, net														4
Dividends from token offering														0
Net other comprehensive loss	0												0
Net loss attributable to noncontrolling interests														0
Ending balance at Sep. 30, 2025	$ 202,940	202,599	$ 7				$ (176,438)	1,183,242				(804,212)	0	341
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)			64,984
Common stock, shares outstanding (in shares)	68,863
Beginning balance (in shares) at Dec. 31, 2025			76,358
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock (in shares)			1,294
Common stock issued for ESPP purchases (in shares)			111
Common stock issued in the acquisition (in shares)				2,953	7,200	13,714
Common stock sold through offerings (in shares)			4,998
Other (in shares)			143
Ending balance (in shares) at Sep. 30, 2026			106,771
Beginning balance, treasury stock (in shares) at Dec. 31, 2025	7,495						7,495
Increase (Decrease) in Stockholders' Equity
Repurchases of common stock (in shares)							0
Tax withholding upon vesting of employee stock awards (in shares)							363
Treasury stock retained in the participation agreement settlement (in shares)							287
Ending balance, treasury stock (in shares) at Sep. 30, 2026	8,145						8,145
Beginning balance at Dec. 31, 2025	$ 217,944		$ 8				$ (176,478)	1,239,338				(842,711)	(2,574)	361
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors								2,146
Common stock issued for ESPP purchases								500
Common stock sold through offerings, net			1					18,329
Common stock issued in acquisitions					$ 1	$ 1			13,761	37,080	67,748
Reclassification of Convertible Notes conversion feature to equity											21,920
Shares issued in settlement of assumed liabilities								706
Net loss	(82,039)											(82,039)
Repurchases of common stock							0
Tax withholding upon vesting of employee stock awards							(1,781)
Treasury stock retained in the participation agreement settlement							(1,416)
Proceeds from security token offering, net														0
Dividends from token offering														(37)
Net other comprehensive loss	(2,322)												(2,322)
Net loss attributable to noncontrolling interests														0
Ending balance at Sep. 30, 2026	$ 292,542	292,218	$ 11				$ (179,675)	1,401,528				(924,750)	(4,896)	324
Beginning balance (in shares) at Jun. 30, 2026			89,604
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock (in shares)			49
Common stock issued for ESPP purchases (in shares)			44
Common stock issued in the acquisition (in shares)				(1,781)
Common stock issued in the acquisition (in shares)					0	13,714
Common stock sold through offerings (in shares)			4,998
Other (in shares)			143
Ending balance (in shares) at Sep. 30, 2026			106,771
Beginning balance, treasury stock (in shares) at Jun. 30, 2026							7,844
Increase (Decrease) in Stockholders' Equity
Repurchases of common stock (in shares)							0
Tax withholding upon vesting of employee stock awards (in shares)							14
Treasury stock retained in the participation agreement settlement (in shares)							287
Ending balance, treasury stock (in shares) at Sep. 30, 2026	8,145						8,145
Beginning balance at Jun. 30, 2026			$ 9				$ (178,206)	1,294,141				(898,606)	(2,574)	324
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors								(1,462)
Common stock issued for ESPP purchases								146
Common stock sold through offerings, net			1					18,329
Common stock issued in acquisitions					$ 0	$ 1			$ 0	$ 0	67,748
Reclassification of Convertible Notes conversion feature to equity											$ 21,920
Shares issued in settlement of assumed liabilities								706
Net loss	$ (26,144)											(26,144)
Repurchases of common stock							0
Tax withholding upon vesting of employee stock awards							(53)
Treasury stock retained in the participation agreement settlement							(1,416)
Proceeds from security token offering, net														0
Dividends from token offering														0
Net other comprehensive loss	(2,322)												(2,322)
Net loss attributable to noncontrolling interests														0
Ending balance at Sep. 30, 2026	$ 292,542	$ 292,218	$ 11				$ (179,675)	$ 1,401,528				$ (924,750)	$ (4,896)	$ 324
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)	98,626		98,626

STOCK-BASED AWARDS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025	Aug. 05, 2026
Stock-Based Awards
Reversal of previously recognized stock-based compensation expense	$ 1,462	$ (3,522)	$ (2,146)	$ (8,002)
Options forfeited in the period (in shares)	2,250,000		2,250,000
Forfeited (in dollars per share)	$ 53.33		$ 53.33
Stock issued during period, employee stock purchase plan (in shares)			110,979	137,966
Average price per share (in dollars per share)			$ 4.06	$ 5.32
2026 Inducement Plan
Stock-Based Awards
Reversal of previously recognized stock-based compensation expense	$ (1,900)		$ (1,900)
Number of shares authorized for issuance (in shares)					4,500,000
Granted at fair value (in shares)	2,597,940		2,597,940
Compensation costs not yet recognized	$ 9,700		$ 9,700
Period for recognition			1 year 11 months 15 days
Restricted Stock Units (RSUs) \| 2026 Inducement Plan
Stock-Based Awards
Granted at fair value (in shares)	1,935,689		1,935,689
Restricted Stock Units (RSUs) \| Minimum
Stock-Based Awards
Vesting period			3 years
Restricted Stock Units (RSUs) \| Maximum
Stock-Based Awards
Vesting period			4 years
Performance Shares
Stock-Based Awards
Employee benefits and share-based compensation (credit) expense	$ (700)	(1,000)	$ (1,600)	$ (400)
Performance Shares \| 2026 Inducement Plan
Stock-Based Awards
Granted at fair value (in shares)	662,251		662,251
Performance Shares \| Minimum
Stock-Based Awards
Vesting period			3 years
Performance Shares \| Maximum
Stock-Based Awards
Vesting period			4 years
Performance Shares \| First year
Stock-Based Awards
Award vesting percent			33.30%
Performance Shares \| Second year
Stock-Based Awards
Award vesting percent			33.30%
Performance Shares \| Third year
Stock-Based Awards
Award vesting percent			33.30%
Performance Share Options
Stock-Based Awards
Reversal of previously recognized stock-based compensation expense	$ 5,900
Employee benefits and share-based compensation (credit) expense	(5,600)	700	$ (4,700)	2,500
Employee Stock Purchase Plan
Stock-Based Awards
Employee benefits and share-based compensation (credit) expense	$ 100	$ 200	$ 400	$ 600
Number of shares available under plan (in shares)	2,430,373		2,430,373
Employee Stock Option
Stock-Based Awards
Reversal of previously recognized stock-based compensation expense	$ 5,900

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 2,818	$ 3,377
Equity securities, fair value	17,075	26,903
Debt securities, fair value	17,682	42,394
Loan commitments, at fair value	$ 0	$ 2,766
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	106,771,000	76,358,000
Common stock, shares outstanding (in shares)	98,626,000	68,863,000
Treasury stock (in shares)	8,145,000	7,495,000

BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Summary of the Components of the Purchase Price

The following table summarizes the components of the purchase consideration (in thousands):


Share consideration issued to holders of outstanding TCS indebtedness (1)	$	67,749
Convertible notes consideration issued to holders of outstanding TCS indebtedness (2)	108,470
Settlement of preexisting relationships (3)	(7,500)


Investment in TCS	$	168,719

___________________________________________

(3) Represents the effective settlement of a preexisting relationship for the $7.5 million short-term loan due to TCS.

The following table summarizes the components of the purchase consideration (in thousands):


Share consideration issued to SFV Services shareholders (1)	$	37,080
Investment in SFV Services	$	37,080

___________________________________________

The following table summarizes the components of the purchase consideration (in thousands):


Share consideration issued to TBHC shareholders (1)	$	12,498
Share consideration to TBHC's Incentive Plan (2)	1,145
Settlement of existing TBHC indebtedness (3)	10,000
Settlement of preexisting relationships (4)	48,246
Total fair value of consideration paid	71,889
Fair value of previously held equity interest in TBHC (5)	8,398
Investment in TBHC	$	80,287

___________________________________________

(2) Represents the aggregate fair value of 247,793 common shares of the Company issued in exchange for TBHC RSU equity awards that accelerated upon the change in control.

(3) Represents the settlement of TBHC existing indebtedness.

(5) Represents the reported amount of the Company’s previously held interests in TBHC.

Summary of Purchase Price Allocation to Assets Acquired and Liabilities Assumed


	July 8, 2026

Cash and cash equivalents	$	19,114
Accounts receivable, net	17,168
Inventories	139,944
Prepaids and other current assets	20,812
Property and equipment, net	148,198
Intangible assets, net	22,329
Operating lease right-of-use assets	338,565
Other long-term assets, net	4,861
Total assets acquired	710,991
Accounts payable	48,689
Accrued liabilities	36,693
Unearned revenue	29,057
Operating lease liabilities, current	68,837
Short-term debt, net	282
Long-term debt, net	84,600
Operating lease liabilities, non-current	269,728
Deferred tax liabilities, long-term	27,197
Other long-term liabilities	8,219
Total liabilities assumed	573,302
Net assets acquired	137,689
Goodwill	31,030

Less: Cash acquired	(19,114)
Purchase price, net of cash acquired	$	149,605


	June 30, 2026		Measurement period adjustments (1)		June 30, 2026 (as adjusted)
Total assets acquired	$	8,454	$	170	$	8,624
Total liabilities assumed	3,669		(803)		2,866
Net assets acquired	4,785		973		5,758
Goodwill	32,295		(973)		31,322
Less: cash acquired	(3,990)		(10)		(4,000)
Purchase price, net of cash acquired	$	33,090	$	(10)	$	33,080

___________________________________________


	April 2, 2026		Measurement period adjustments (1)		April 2, 2026 (as adjusted)
Cash and cash equivalents	$	—	$	—	$	—
Inventories (2)	56,194		(9,010)		47,184
Prepaids and other current assets	7,076		—		7,076
Property and equipment, net	34,128		449		34,577
Operating lease right-of-use assets	121,731		—		121,731
Other long-term assets, net	2,477		—		2,477
Total assets acquired	221,606		(8,561)		213,045
Accounts payable	53,887		—		53,887
Accrued liabilities and unearned revenue	18,786		(210)		18,576

Operating lease liabilities, current	33,520		—		33,520
Long-term debt, net	6,811		—		6,811
Operating lease liabilities, non-current	85,699		—		85,699
Other long-term liabilities	6,317		—		6,317
Total liabilities assumed	205,020		(210)		204,810
Net assets acquired	16,586		(8,351)		8,235
Fair value of previously held equity interest	(8,398)		—		(8,398)

Goodwill	63,701		8,351		72,052
Less: Cash acquired	—		—		—
Purchase price, net of cash acquired	$	71,889	$	—	$	71,889

___________________________________________

Business Combination, Pro Forma Information


	Three months ended September 30,			Nine months ended September 30,
	2026		2025	2026	2025
Net revenue	$	526,895	492,915	1,565,735	1,597,486
Net income (loss)	(32,660)		(15,097)	(226,524)	(149,441)

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

INDEMNIFICATIONS AND GUARANTEES	9 Months Ended
INDEMNIFICATIONS AND GUARANTEES	Sep. 30, 2026
Guarantees and Product Warranties [Abstract]
INDEMNIFICATIONS AND GUARANTEES	11. INDEMNIFICATIONS AND GUARANTEES During the normal course of business, the Company has made certain indemnities, commitments, and guarantees under which the Company may be required to make payments in relation to certain transactions. These indemnities include, but are not limited to, indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, the environmental indemnity the Company entered into in favor of the lenders under its prior loan agreements, customary indemnification arrangements in underwriting agreements and similar agreements, and indemnities to its directors and officers to the maximum extent permitted under the laws of the State of Delaware, and the guarantee of 2033 Convertible Notes by certain subsidiaries of the Company. The duration of these indemnities, commitments, and guarantees varies, and in certain cases, is indefinite. In addition, the majority of these indemnities, commitments, and guarantees do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. As such, the Company is unable to estimate with any reasonableness its potential exposure under these items. The Company has not recorded any liability for these indemnities, commitments, and guarantees in the accompanying consolidated balance sheets. The Company does, however, accrue losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is both probable and reasonably estimable.

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(4)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-Paragraph 4
-Subparagraph (a)(5)
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-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-Paragraph 4
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-URI https://asc.fasb.org/460/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2026
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company has prepared the accompanying unaudited consolidated financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”) and the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. These financial statements should be read in conjunction with the audited annual consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. There have been no significant changes to the Company's significant accounting policies disclosed in Note 2—Accounting Policies and Supplemental Disclosures, included in Part II, Item 8, Financial Statements and Supplementary Data, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, except as disclosed below.
Consolidation	The accompanying unaudited consolidated financial statements include the Company's accounts and the accounts of the Company's wholly-owned subsidiaries and other subsidiaries for which the Company exercises control, and reflect all adjustments, consisting only of normal recurring adjustments, which are, in the Company's opinion, necessary for a fair presentation of results for the interim periods presented. All intercompany account balances and transactions have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2026, are not necessarily indicative of the results to be expected for any future period or the full fiscal year, due to seasonality and other factors. Prior to April 2, 2026, June 30, 2026, and July 8, 2026, The Brand House Collective, Inc. (formerly known as Kirkland’s Inc.) ("The Brand House Collective" or “TBHC”), TwoPonds, Inc., a Delaware corporation (“SFV Services”), and The Container Store Holdings, LLC, a Delaware limited liability company (“TCS” or "The Container Store"), respectively, were not consolidated subsidiaries of the Company. Accordingly, transactions between the Company, and TBHC and TCS prior to the acquisition dates, including any related amendments, were accounted for as transactions with a non-consolidated entity and are reflected in the Company’s consolidated financial statements through the acquisition dates in accordance with their nature. Beginning on the respective acquisition dates, the results of operations, assets and liabilities of TBHC and TCS are included in the Company’s consolidated financial statements. Accordingly, balances and transactions between the Company, TBHC and TCS occurring after the acquisition date of each entity are eliminated in consolidation.
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in the Company's consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, receivables valuation, revenue recognition, loyalty program reward point and gift card breakage, sales returns, inventory valuation, asset useful lives, equity and debt securities valuation, income taxes, stock-based compensation, performance-based compensation, self-funded health insurance liabilities, contingencies, goodwill, and the fair value of assets acquired and liabilities assumed in acquisitions. Although these estimates are based on the Company's best knowledge of current events and actions that the Company may undertake in the future, the accounting of these estimates may change from period to period. To the extent there are differences between these estimates and actual results, the Company's consolidated financial statements may be materially affected.
Business Combinations	Business Combinations Assets acquired and liabilities assumed as part of a business combination are recorded at their fair value at the date of acquisition. The excess of purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Determining fair value of identifiable assets, particularly intangible assets and liabilities acquired requires management to make estimates, which are based on all available information and in some cases, assumptions, with respect to the timing and amount of future revenues and expenses associated with an asset or liability.
Recently issued accounting standards	Recently issued accounting standards In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires public entities to disclose disaggregated information about certain income statement line items in the notes to the financial statements. For public entities, ASU 2024-03 is required to be adopted for annual periods beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, with early adoption permitted. This ASU will result in the Company including the additional required disclosures when adopted and does not otherwise have a material impact on the Company's consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40), Targeted Improvements to the Accounting for Internal-Use Software, which clarified and modernizes the accounting for costs related to internal-use software. The amendments in ASU 2025-06 remove all references to project stages throughout Subtopic 350-40 and clarify the threshold entities apply to begin capitalizing costs. ASU 2025-06 is effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. This ASU will result in the Company adopting the new threshold to apply to begin capitalizing costs and does not otherwise have a material impact on the Company's consolidated financial statements.

- Definition

Disclosure of accounting policy for business combination.

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- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Statement of Comprehensive Income [Abstract]
Net loss	$ (26,144)	$ (4,521)	$ (82,039)	$ (63,746)
Other comprehensive income (loss)
Pension liability adjustment, net of tax	4	0	4	0
Foreign currency translation adjustment, net of tax	(2,326)	0	(2,326)	0
Other comprehensive loss	(2,322)	0	(2,322)	0
Comprehensive loss	$ (28,466)	$ (4,521)	$ (84,361)	$ (63,746)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

NET LOSS PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Numerator:
Net loss attributable to common stockholders	$ (26,144)	$ (4,521)	$ (82,039)	$ (63,746)
Denominator:
Weighted average shares of common stock outstanding—basic (in shares)	94,911	60,333	79,517	57,190
Weighted average shares of common stock outstanding—diluted (in shares)	94,911	60,333	79,517	57,190
Net loss per share of common stock:
Basic (in dollars per share)	$ (0.28)	$ (0.07)	$ (1.03)	$ (1.11)
Diluted (in dollars per share)	$ (0.28)	$ (0.07)	$ (1.03)	$ (1.11)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

Long-term debt consists of the following (in thousands):


	September 30, 2026
2033 Convertible Notes	$	111,254
Eclipse Exit ABL Credit Facility	87,048
2019 Elfa Senior Secured Credit	15,005
BMO Line of Credit	15,500
Bank of America Revolver	30,509
Elfa Finance Lease	253
Total debt, gross	$	259,569
Less: Unamortized debt discount	(46,762)

Total long-term debt, net	$	212,807

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

STOCK-BASED AWARDS - Summary of Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Sep. 30, 2026	Sep. 30, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ (1,462)	$ 3,522	$ 2,146	$ 8,002
Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServicesSold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	0	2	0	4
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	(1,531)	2,718	1,826	6,332
Income Statement Location [Axis]: us-gaap:SellingAndMarketingExpense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	57	112	(76)	257
Income Statement Location [Axis]: nxh:CustomerServiceAndMerchantFees
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	0	0	3	0
Income Statement Location [Axis]: nxh:TechnologyExpense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 12	$ 690	$ 393	$ 1,409

EQUITY SECURITIES - Schedule of Equity Securities Ownership Interest (Details)	9 Months Ended
	Sep. 30, 2026
tZERO Group, Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	21.00%
Zulily Newco
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	25.00%
Medici Ventures, L.P.
Schedule of Equity Method Investments [Line Items]
Limited partner, ownership interest	99.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Topic 235
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
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-Section 50
-Paragraph 3
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
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-Paragraph 3
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

+ Details

STOCKHOLDERS' EQUITY - Warrants (Details) - $ / shares		9 Months Ended
STOCKHOLDERS' EQUITY - Warrants (Details) - $ / shares	Oct. 02, 2025	Sep. 30, 2026
Equity [Abstract]
Number of warrants received, per share of common stock owned (in shares)	0.1
Warrant, exercise price (in dollars per share)	$ 15.50
Warrants exercised (in shares)		219
Warrants outstanding (in shares)		6,884,121

STOCK-BASED AWARDS

9 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

STOCK-BASED AWARDS

14. STOCK-BASED AWARDS

Stock-based compensation expense is classified within the corresponding operating expense categories on the consolidated statements of operations as follows (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Cost of goods sold	$	—	$	2	$	—	$	4
Sales and marketing	57		112		(76)		257
Technology	12		690		393		1,409
General and administrative	(1,531)		2,718		1,826		6,332
Customer service and merchant fees	—		—		3		—
Total stock-based compensation	$	(1,462)	$	3,522	$	2,146	$	8,002

The Company had performance share option forfeitures during the three months ended September 30, 2026 that resulted in a $5.9 million reversal of previously recognized stock-based compensation expense. The reversal is included in general and administrative expense in the consolidated statements of operations.

Restricted stock unit awards

The Company's Amended and Restated 2005 Equity Incentive Plan (the "Plan") provides for the grant of restricted stock units and other types of equity awards to employees and directors of the Company. The Compensation Committee of the Board of

Directors approves grants of restricted stock unit awards to the Company's officers, board members, and employees. These restricted stock unit awards generally vest over a period of three years to four years, subject to the recipient's continuing service to the Company.

The cost of restricted stock units is determined using the fair value of the Company's common stock on the date of the grant and compensation expense is either recognized on a straight-line basis over the vesting schedule or on an accelerated schedule when vesting of restricted stock awards exceeds a straight-line basis. The cumulative amount of compensation expense recognized at any point in time is at least equal to the portion of the grant date fair value of the award that is vested at that date.

Performance Shares

Performance-based shares ("PSUs") granted to the Company's executive management team under the Plan are eligible to vest based on achieving specific performance metrics. To the extent any of the PSUs become earned based on the Company's achievement of the aforementioned performance metrics, such earned PSUs will vest equally over three years or four years, on the annual anniversary of the grant date, subject to the recipient’s continued service through the vesting date. To be eligible to vest in any tranche of the PSUs, the Company must meet the threshold performance metrics established for the performance period. Expense is recognized as compensation cost based on the fair value on the date of grant over the performance period, taking into account the probability that the Company will satisfy the performance goals.

Stock-based compensation related to the PSUs is included in the stock-based compensation expense table above combined with the expense associated with the Company's restricted stock units, performance share options, and employee stock purchase plan. Due to staff-related reductions, stock-based compensation related to the PSUs was a credit of $0.7 million and a credit of $1.0 million for the three months ended September 30, 2026 and 2025, respectively, and credits of $1.6 million and $0.4 million due to staff-related reductions for the nine months ended September 30, 2026 and 2025, respectively.

The following table summarizes restricted stock unit and PSU award activity (in thousands, except per share data):


	Nine months ended September 30, 2026
	Units	Weighted Average Grant Date Fair Value
Outstanding—beginning of year	3,037	$	8.21
Granted at fair value (1)	6,540	4.61
Vested	(1,294)	7.58
Forfeited	(1,188)	9.28
Outstanding—end of period	7,095	$	4.80

___________________________________________

Share Options

Stock-based compensation related to the Performance Share Option is included in the stock-based compensation expense table above combined with the expense associated with the Company's restricted stock units, PSUs, and employee stock purchase plan. Stock-based compensation related to the performance share options was a net reversal of $5.6 million for the three months ended September 30, 2026 , and an expense of $0.7 million for the three months ended September 30, 2025. For the nine months ended September 30, 2026 and 2025, stock-based compensation related to the performance share options was a net reversal of $4.7 million and an expense of $2.5 million, respectively. The net reversal for the three and nine months ended September 30, 2026 was primarily attributable to the forfeiture of all 2,250,000 then outstanding options with a weighted average exercise price per share of $53.33, which resulted in a $5.9 million reversal of previously recognized stock-based compensation expense.

Employee Stock Purchase Plan

Purchases under the 2021 Employee Stock Purchase Plan (the "ESPP") during the nine months ended September 30, 2026 and 2025 were 110,979 shares and 137,966 shares, respectively, at an average purchase price per share of $4.06 and $5.32, respectively. At September 30, 2026, 2,430,373 shares of common stock remained available under the ESPP.

Stock-based compensation related to the ESPP is included in the stock-based compensation expense table above combined with the expense associated with the Company's restricted stock units, PSUs, and performance share options. Stock-based compensation related to the ESPP was $0.1 million and $0.2 million for the three months ended September 30, 2026 and 2025, respectively and $0.4 million and $0.6 million for the nine months ended September 30, 2026 and 2025, respectively.

2026 Employment Inducement Equity Incentive Plan

On August 4, 2026, the board of directors of the Company adopted the Neighborhood Intelligence, Inc. 2026 Employment Inducement Equity Incentive Plan (formerly the Bed Bath & Beyond, Inc. 2026 Employment Inducement Equity Plan) (the "Inducement Plan") to facilitate the recruitment and retention of key employees through equity-based compensation awards. The Inducement Plan permits the grant of non-statutory stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance share awards, performance unit awards, and deferred stock units to newly hired employees as a material inducement to employment with the Company. The Inducement Plan was adopted without stockholder approval in reliance on an exemption available under the NYSE Listed Company Manual for awards granted as a material inducement to employment and provides for a maximum of 4,500,000 shares of common stock to be issued thereunder.

On August 5, 2026, the Company filed a Registration Statement on Form S-8 registering 4,500,000 shares of its common stock for issuance under the Inducement Plan. Awards granted under the Inducement Plan must be approved by either the Compensation Committee of the board of directors, provided the committee is composed solely of independent directors, or by a majority of the Company's independent directors. During the three and nine months ended September 30, 2026, the Company granted 1,935,689 of restricted stock units and 662,251 performance share awards under the Inducement Plan, covering an aggregate of 2,597,940 shares of common stock, resulting in share-based compensation expense of $1.9 million recognized during each of the three and nine month periods then ended. As of September 30, 2026, total unrecognized compensation cost related to unvested awards granted under the Inducement Plan was $9.7 million, which is expected to be recognized over a weighted-average period of approximately 1.96 years.