0001875444-21-000022 | 10-Q/A | XBRL Viewer

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Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2021	Dec. 01, 2021
Cover [Abstract]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-41009
Entity Registrant Name	Arhaus, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1729256
Entity Address, Address Line One	51 E. Hines Hill Road
Entity Address, City or Town	Boston Heights
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44236
City Area Code	440
Local Phone Number	439-7700
Title of 12(b) Security	Class A common stock, $0.001 par value per share
Trading Symbol	ARHS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		136,946,392
Entity Central Index Key	0001875444
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Amendment Description	The sole purpose of this Amendment No. 1 to our Quarterly Report on Form 10-Q for the period ended September 30, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on December 9, 2021 (the “Original Report”), is to include on the signature page the date of signature and the conformed signature of our principal financial and accounting officer, which was unintentionally omitted from the Original Report. This Amendment No. 1 does not modify or update in any way disclosures made in the Original Report. As required by applicable SEC regulations, Exhibits 31.1, 31.2, 32.1 and 32.2 are being re-filed with this amendment.

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Jul. 14, 2021
Assets
Cash and cash equivalents	$ 149,246
Total assets	495,280
Commitments and contingencies (Note 10)
Stockholders’ Equity
Total stockholders’ equity	(19,849)
Parent Company
Assets
Cash and cash equivalents	0	$ 0
Total assets	0	0
Commitments and contingencies (Note 10)	0	0
Stockholders’ Equity
Common stock, $0.001 par value per share, 1,000 shares authorized, no shares issued and outstanding	0	0
Total stockholders’ equity	$ 0	$ 0

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Condensed Balance Sheet (Parenthetical) - Parent Company - $ / shares	Sep. 30, 2021	Jul. 14, 2021
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock , shares authorized (in shares)	1,000	1,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 149,246	$ 50,739
Restricted cash equivalents	5,880	6,909
Accounts receivable, net	360	600
Merchandise inventory, net	170,555	108,022
Prepaid and other current assets	20,380	19,733
Total current assets	346,421	186,003
Property, furniture and equipment, net	137,013	117,696
Goodwill	10,961	10,961
Other noncurrent assets	885	1,284
Total assets	495,280	315,944
Current liabilities
Accounts payable	30,383	29,113
Accrued taxes	10,102	7,910
Accrued wages	18,634	9,660
Accrued other expenses	17,412	11,317
Client deposits	260,204	154,128
Total current liabilities	336,735	212,128
Capital lease obligation	50,550	47,600
Deferred rent and lease incentives	76,534	71,213
Other long-term liabilities	51,310	21,094
Total liabilities	515,129	352,035
Commitments and contingencies (Note 10)
Stockholders’ Equity
Accumulated Deficit	(22,654)	(37,761)
Additional Paid-in Capital	2,805	1,670
Total stockholders’ equity	(19,849)	(36,091)
Total liabilities and members’ deficit	$ 495,280	$ 315,944

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net revenue	$ 203,333	$ 120,501	$ 558,690	$ 344,606
Cost of goods sold	118,522	75,289	325,710	214,817
Gross margin	84,811	45,212	232,980	129,789
Selling, general and administrative expenses	68,137	40,964	196,212	105,122
Loss on disposal of assets	452	0	466	0
Income from operations	16,222	4,248	36,302	24,667
Interest expense	1,339	2,734	4,018	9,335
Income before taxes	14,883	1,514	32,284	15,332
State and local taxes	500	731	1,704	900
Comprehensive income	14,383	783	30,580	14,432
Net income	14,383	783	30,580	14,432
Net income (loss) attributable to the shareholders, diluted	14,383	(686)	30,580	10,058
Comprehensive income (loss) attributable to the shareholders	14,383	(686)	30,580	10,058
Net income (loss) attributable to the shareholders, basic	$ 14,383	$ (686)	$ 30,580	$ 10,058
Net and comprehensive income (loss) per share
Net and comprehensive income (loss) per unit, basic (in dollars per share)	$ 0.13	$ (0.01)	$ 0.27	$ 0.09
Net and comprehensive income (loss) per unit, diluted (in dollars per share)	$ 0.13	$ (0.01)	$ 0.27	$ 0.09
Weighted-average number of shares outstanding
Weighted-average number of common shares outstanding, basic (in shares)	112,058,742	112,058,742	112,058,742	112,058,742
Weighted-average number of common shares outstanding, diluted (in shares)	112,058,742	112,058,742	112,058,742	112,058,742

Condensed Consolidated Statements of Changes in Mezzanine Equity and Members’ Deficit - USD ($) $ in Thousands	Total	Class A	Class B	Member Units Class A	Member Units Class B	Accumulated Deficit	Additional Paid-in Capital
Beginning balance (in shares) at Dec. 31, 2019		1,250,000	1,250,000
Beginning balance at Dec. 31, 2019		$ 18,206	$ 18,206
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred units dividend unpaid		$ 2,187	$ 2,187
Ending balance (in shares) at Sep. 30, 2020		1,250,000	1,250,000
Ending balance at Sep. 30, 2020		$ 20,393	$ 20,393
Beginning balance (in shares) at Dec. 31, 2019				20,939,000	7,488,000
Beginning Balance at Dec. 31, 2019	$ (33,380)					$ (34,747)	$ 1,367
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,432					14,432
Tax distribution	(8,845)					(8,845)
Preferred units dividend unpaid	(4,374)					(4,374)
Incentive unit compensation	226						226
Ending Balance (in shares) at Sep. 30, 2020				20,939,000	7,488,000
Ending Balance at Sep. 30, 2020	(31,941)					(33,534)	1,593
Beginning balance (in shares) at Jun. 30, 2020		1,250,000	1,250,000
Beginning balance at Jun. 30, 2020		$ 19,659	$ 19,658
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred units dividend unpaid		$ 734	$ 735
Ending balance (in shares) at Sep. 30, 2020		1,250,000	1,250,000
Ending balance at Sep. 30, 2020		$ 20,393	$ 20,393
Beginning balance (in shares) at Jun. 30, 2020				20,939,000	7,488,000
Beginning Balance at Jun. 30, 2020	(22,486)					(24,003)	1,517
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	783					783
Tax distribution	(8,845)					(8,845)
Preferred units dividend unpaid	(1,469)					(1,469)
Incentive unit compensation	76						76
Ending Balance (in shares) at Sep. 30, 2020				20,939,000	7,488,000
Ending Balance at Sep. 30, 2020	(31,941)					(33,534)	1,593
Beginning balance (in shares) at Dec. 31, 2020				20,939,000	7,488,000
Beginning Balance at Dec. 31, 2020	(36,091)					(37,761)	1,670
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,580					30,580
Tax distribution	(15,473)					(15,473)
Incentive unit compensation	1,135						1,135
Ending Balance (in shares) at Sep. 30, 2021				20,939,000	7,488,000
Ending Balance at Sep. 30, 2021	(19,849)					(22,654)	2,805
Beginning balance (in shares) at Jun. 30, 2021				20,939,000	7,488,000
Beginning Balance at Jun. 30, 2021	(34,940)					(37,037)	2,097
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,383					14,383
Incentive unit compensation	708						708
Ending Balance (in shares) at Sep. 30, 2021				20,939,000	7,488,000
Ending Balance at Sep. 30, 2021	$ (19,849)					$ (22,654)	$ 2,805

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 30,580	$ 14,432
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	17,206	12,682
Amortization of deferred financing fees, payment-in-kind interest and interest on capital lease in excess of principal paid	839	2,522
Incentive unit compensation expense	1,135	326
Derivative expense	29,905	500
Loss on disposal of assets	466	0
Amortization and write-off of lease incentives	(5,890)	(6,807)
Changes in operating assets and liabilities
Accounts receivable	240	185
Merchandise inventory	(62,533)	8,004
Prepaid and other current assets	(647)	(424)
Other noncurrent assets	0	(1,041)
Other noncurrent liabilities	335	(80)
Accounts payable	1,698	4,288
Accrued expenses	16,221	4,109
Deferred rent and lease incentives	6,958	12,645
Client deposits	106,076	63,779
Net cash provided by operating activities	142,589	115,120
Cash flows from investing activities
Purchases of property, furniture and equipment	(29,531)	(11,129)
Net cash used in investing activities	(29,531)	(11,129)
Cash flows from financing activities
Proceeds from revolving debt	0	20,500
Payments on revolving debt	0	(9,500)
Payments on long-term debt	0	(11,220)
Repurchase of incentive units	0	(100)
Principal payments under capital leases	(107)	0
Distributions to owners	(15,473)	(8,845)
Net cash used in financing activities	(15,580)	(9,165)
Net increase in cash, cash equivalents and restricted cash equivalents	97,478	94,826
Cash, cash equivalents and restricted cash equivalents
Beginning of period	57,648	18,559
End of period	155,126	113,385
Supplemental disclosure of cash flow information
Interest paid in cash	3,877	6,549
Income taxes paid in cash	1,292	1,079
Lease incentives	4,253	1,717
Purchase of property, furniture and equipment in accounts payable	(428)	220
Property, furniture and equipment additions due to build-to-suit lease transaction	1,040	0
Capital lease obligations	2,591	0
Dividends - unpaid	$ 0	$ 4,374

Organization	9 Months Ended
Organization	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	OrganizationArhaus, Inc. (the “Company”) was formed as a Delaware corporation on July 14, 2021. The Company was formed for the purpose of completing a public offering and related transactions in order to carry on the business of Arhaus, LLC and its subsidiaries (“Arhaus”). Following the reorganization transactions described in Note 5, Arhaus, LLC became a wholly owned indirect subsidiary of the Company.

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies A summary of significant accounting policies applied in the preparation of the condensed balance sheets are as follows. Basis of Presentation The accounting and reporting policies of the Company are in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Separate statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows have not been presented because the Company has not engaged in any business or other activities except in connection with its formation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates.

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ EquityOn July 14, 2021, the Company was authorized to issue 1,000 shares of common stock, par value $0.001 per share.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Commitment and Contingencies	9 Months Ended
Commitment and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company may be subject to legal proceedings that arise in the ordinary course of business. There are currently no proceedings to which the Company is a party, nor does the Company have knowledge of any proceedings that are threatened against the Company.Commitments and ContingenciesThe Company is involved in litigation and claims that are incidental to its business. Although the outcome of these matters cannot be determined at the present time, management of the Company believes that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events The Company has evaluated subsequent events through the date of the issuance of the condensed balance sheets, and no additional matters were identified requiring recognition or disclosure in the financial statements, except for events described below. Reorganization and Initial Public Offering In connection with the IPO, the Company reorganized its ownership structure from a limited liability company to a corporation for the purpose of issuing common stock on a publicly traded exchange. Arhaus, Inc. serves as a holding company that indirectly wholly owns Arhaus, LLC and its subsidiaries. Pursuant to the terms of the Integrated Contribution Agreement by and among the Company, FS Arhaus Holding, Inc. (“FS Arhaus”), a Delaware corporation, Homeworks Holdings Inc. (“Homeworks”) and the unit holders of Arhaus, the following series of transactions were completed on November 8, 2021, which we refer to, collectively, as the Reorganization. These transactions included: •the amendment and restatement of the certificate of incorporation of the Company, to authorize two classes of common stock, Class A common stock and Class B common stock and to authorize the Company to issue up to 750,000,000 shares of common stock, consisting of 600,000,000 share of Class A common stock, par value of $0.001 per share, 100,000,000 shares of Class B common stock, par value of $0.001 and 50,000,000 shares of Preferred Stock; and ◦the Company’s acquisition of the units of Arhaus currently held by FS Arhaus, Homeworks, John Reed (“Reed”) through the John P Reed Trust dated April 29, 1985, as Amended (“Reed Revocable Trust”) and the members of management who hold incentive units (“Management Unitholders”), pursuant to the mergers and exchange described below, and the issuance in those transactions of Class A common stock to the holders of FS Arhaus and the Management Unitholders and Class B common stock to Homeworks, Reed and the Reed Revocable Trust. The following steps describe the transactions that were completed to effect the Reorganization on November 8, 2021: •Step 1: The Company formed two wholly owned subsidiaries, Ash Merger Sub 1, Inc. (“Merger Sub 1”), a Delaware corporation, and Ash Merger Sub 2, Inc. (“Merger Sub 2”), a Delaware corporation; ◦Step 2(a): Merger Sub 1 merged with and into FS Arhaus, with FS Arhaus surviving the merger, or Surviving Corporation 1, and became a wholly owned subsidiary of the Company and the holders of FS Arhaus received shares of Class A common stock; ◦Step 2(b): Merger Sub 2 merged with and into Homeworks, with Homeworks surviving the merger, or Surviving Corporation 2, and became a wholly owned subsidiary of the Company and the owners of Homeworks, received shares of Class B common stock; ◦Step 2(c): The Management Unitholders contributed their units of Arhaus to the Company in exchange for shares of Class A common stock; ◦Step 2(d): Reed and the Reed Revocable Trust contributed their respective units of Arhaus to the Company in exchange for shares of Class B common stock; and ◦Step 2(e): The Company contributed the units of Arhaus that it owns directly to Surviving Corporation 1 and Surviving Corporation 2 in proportion to the units of Arhaus owned by Surviving Corporation 1 and Surviving Corporation 2; and ◦Step 3: The Company issued shares of our Class A common stock to the purchasers in the IPO. As a result of the Reorganization, a total of 39,623,041 shares of Class A common stock and 87,536,950 shares of Class B common stock were issued to the former holders of FS Arhaus, the former holders of Homeworks, Reed, the Reed Revocable Trust and the Management Unitholders. Of the total 127,159,991 shares of common stock, 2,520,227 shares of Class A common stock and 596,598 shares of Class B common stock issued to Management Unitholders are subject to certain vesting conditions specified in individual award agreements and were issued as restricted shares with similar time-based vesting provisions as the incentive units that were exchanged for such shares. If the vesting conditions of the restricted stock are not satisfied, such restricted stock will be forfeited and canceled. On November 8, 2021, the Company consummated its IPO of 12,903,226 shares of Class A common stock at an IPO price of $13.00 per share. Shares of the Company’s Class A common stock began trading on the NASDAQ Global Select Market under the ticker symbol “ARHS” on November 4, 2021. Revolving Credit Facilities On November 4, 2021 Arhaus terminated its revolving credit facility dated June 25, 2020, of which there were no borrowings drawn. The termination of the revolving credit facility resulted in the Company paying a $0.6 million early termination fee and writing off the remaining unamortized loan costs of $0.8 million. On November 8, 2021, the Company entered into a new revolving credit facility agreement (the “2021 Credit Facility”). The 2021 Credit Facility provides for, among other things, (1) a revolving credit facility, in an aggregate amount not to exceed at any time outstanding the amount of such lender’s commitment, (2) a letter of credit commitment, in an amount equal to the lesser of (a) $10 million, and (b) the amount of the revolving credit facility as of such date, and (3) a swingline loan, in an amount equal to the lesser of (a) $5 million, and (b) the amount of the revolving credit facility as of such date. The aggregate amount of all commitments of all lenders under the 2021 Credit Facility is $50 million, which may be increased pursuant to the terms of the 2021 Credit Facility. The 2021 Credit Facility contains restrictive covenants and has certain financial covenants, including a minimum rent-adjusted total leverage ratio and minimum fixed charge ratio. The 2021 Credit Facility bears variable interest rates at the prevailing Bloomberg Short-Term Bank Yield index rate plus the applicable margin (1.75% at origination), whereas the applicable margin is adjusted quarterly based on the Company’s consolidated rent-adjusted total leverage ratio. Subsequent Event The Company has evaluated subsequent events through the date of the issuance of the condensed consolidated financial statements, and no additional matters were identified requiring recognition or disclosure in the financial statements, except for events described below. Reorganization and Initial Public Offering In connection with the IPO, the Company reorganized its ownership structure from a limited liability company to a corporation for the purpose of issuing common stock on a publicly traded exchange. Arhaus, Inc. serves as a holding company that indirectly wholly owns Arhaus, LLC and its subsidiaries. Pursuant to the terms of the Integrated Contribution Agreement by and among Arhaus, Inc., a Delaware corporation, FS Arhaus Holding, Inc. (“FS Arhaus”), a Delaware corporation, Homeworks Holdings Inc. (“Homeworks”) and the members of management who hold incentive units (“Management Unitholders”) of the Company, the following series of transactions were completed on November 8, 2021, which we refer to, collectively, as the Reorganization. These transactions included: •the amendment and restatement of the certificate of incorporation of Arhaus, Inc., to authorize two classes of common stock, Class A common stock and Class B common stock and to authorize the Company to issue up to 750,000,000 shares of common stock, consisting of 600,000,000 share of Class A common stock, par value of $0.001 per share, 100,000,000 shares of Class B common stock, par value of $0.001 and 50,000,000 shares of Preferred Stock; and •Arhaus, Inc.’s acquisition of the units of the Company currently held by FS Arhaus, Homeworks, John Reed (“Reed”) through the John P Reed Trust dated April 29, 1985, as Amended (“Reed Revocable Trust”) and the Management Unitholders, pursuant to the mergers and exchange described below, and the issuance in those transactions of Class A common stock to the holders of FS Arhaus and the Management Unitholders and Class B common stock to Homeworks, Reed and the Reed Revocable Trust. The following steps describe the transactions that were completed to effect the Reorganization on November 8, 2021: •Step 1: Arhaus, Inc. formed two wholly owned subsidiaries, Ash Merger Sub 1, Inc. (“Merger Sub 1”), a Delaware corporation, and Ash Merger Sub 2, Inc. (“Merger Sub 2”), a Delaware corporation; •Step 2(a): Merger Sub 1 merged with and into FS Arhaus, with FS Arhaus surviving the merger, or Surviving Corporation 1, and became a wholly owned subsidiary of Arhaus, Inc. and the holders of FS Arhaus received shares of Class A common stock; •Step 2(b): Merger Sub 2 merged with and into Homeworks, with Homeworks surviving the merger, or Surviving Corporation 2, and became a wholly owned subsidiary of Arhaus, Inc. and the owners of Homeworks, received shares of Class B common stock; •Step 2(c): The Management Unitholders contributed their units of the Company to Arhaus, Inc. in exchange for shares of Class A common stock; •Step 2(d): Reed and the Reed Revocable Trust contributed their respective units of the Company to Arhaus, Inc. in exchange for shares of Class B common stock; •Step 2(e): Arhaus, Inc. contributed the units of the Company that it owns directly to Surviving Corporation 1 and Surviving Corporation 2 in proportion to the units of the Company owned by Surviving Corporation 1 and Surviving Corporation 2; and •Step 3: Arhaus, Inc. issued shares of our Class A common stock to the purchasers in the IPO. As a result of the Reorganization, a total of 39,623,041 shares of Class A common stock and 87,536,950 shares of Class B common stock were issued to the former holders of FS Arhaus, the former holders of Homeworks, Reed, the Reed Revocable Trust and the Management Unitholders. Of the total 127,159,991 shares of common stock, 2,520,227 shares of Class A common stock and 596,598 shares of Class B common stock issued to Management Unitholders are subject to certain vesting conditions specified in individual award agreements and were issued as restricted shares with similar time-based vesting provisions as the incentive units that were exchanged for such shares. If the vesting conditions of the restricted stock are not satisfied, such restricted stock will be forfeited and canceled. On November 8, 2021, Arhaus, Inc. consummated its IPO of 12,903,226 shares of Class A common stock at an IPO price of $13.00 per share. Shares of Arhaus, Inc.’s Class A common stock began trading on the NASDAQ Global Select Market under the ticker symbol “ARHS” on November 4, 2021. Arhaus, Inc. used a portion of the net proceeds received from the IPO to pay the term loan exit fee of $64.1 million in connection with the term loan that was repaid on December 28, 2020, as discussed in Note 4. The Company will record an additional $14.6 million of selling, general and administrative expenses in the fourth quarter of 2021 related to the change in fair value of the term loan exit fee as a result of the IPO. Revolving Credit Facilities On November 4, 2021 the Company terminated the Revolver dated June 25, 2020 of which there were no borrowings drawn. The termination of the Revolver resulted in the Company paying an $0.6 million early termination fee and writing off the remaining unamortized loan costs of $0.8 million. On November 8, 2021, Arhaus, Inc. entered into a new revolving credit facility agreement (the “2021 Credit Facility”). The 2021 Credit Facility provides for, among other things, (1) a revolving credit facility, in an aggregate amount not to exceed at any time outstanding the amount of such lender’s commitment, (2) a letter of credit commitment, in an amount equal to the lesser of (a) $10 million, and (b) the amount of the revolving credit facility as of such date, and (3) a swingline loan, in an amount equal to the lesser of (a) $5 million, and (b) the amount of the revolving credit facility as of such date. The aggregate amount of all commitments of all lenders under the 2021 Credit Facility is $50 million, which may be increased pursuant to the terms of the 2021 Credit Facility. The 2021 Credit Facility contains restrictive covenants and has certain financial covenants, including a minimum rent-adjusted total leverage ratio and minimum fixed charge ratio. The 2021 Credit Facility bears variable interest rates at the prevailing Bloomberg Short-Term Bank Yield index rate plus the applicable margin (1.75% at origination), whereas the applicable margin is adjusted quarterly based on Arhaus, Inc.’s consolidated rent-adjusted total leverage ratio.

Nature of Business and Basis of Presentation	9 Months Ended
Nature of Business and Basis of Presentation	Sep. 30, 2021
Accounting Policies [Abstract]
Nature of Business and Basis of Presentation	Nature of Business and Basis of Presentation Nature of Business Arhaus, LLC (the “Company,” “we” or “Arhaus”) is a Delaware limited liability company and is a premium retailer in the home furnishings market, specializing in livable luxury supported by heirloom quality merchandise. Our curated assortments are presented across our sales channels in sophisticated, family friendly and unique lifestyle settings. We offer merchandise assortments across a number of categories, including furniture, lighting, textiles, décor, and outdoor. We position our retail locations as Showrooms for our brand, while our website acts as a virtual extension of our Showrooms. The Company operated 77 Showrooms as of September 30, 2021. At September 30, 2021 and December 31, 2020, all of the Company’s Class A units are owned by Homeworks Holdings Inc. (“Homeworks”) and John Reed (“Reed”) through the John P Reed Trust dated April 29, 1985, as Amended (“Reed Revocable Trust”). All shares of Homeworks are owned by the Reed Revocable Trust and related party trusts of Reed. All of the Company’s Class B units are owned by FS Arhaus Holding, Inc., a Delaware corporation. See Note 12 for our discussion of the reorganization of the Company that was consummated on November 8, 2021. Effects of COVID-19 on Our Business The COVID-19 outbreak in the first quarter of fiscal year 2020 caused disruption to our business operations. In our initial response to the COVID-19 health crisis, we undertook immediate adjustments to our business operations including temporarily closing all retail locations, furloughing employees, minimizing expenses and delaying investments, including pausing some inventory orders while we assessed the status of our business. Our approach to the crisis evolved quickly as our business trends substantially improved during the second through fourth quarters of fiscal year 2020 as a result of both the reopening of our Showrooms and strong consumer demand for our products. We had reopened all of our Showrooms and Outlet stores by June 30, 2020, although currently many of our Showrooms and Outlets continue to conduct business with occupancy limitations and other operational restrictions. While we have been able to serve our clients and operate our business through the ongoing COVID-19 health crisis, there can be no assurance that future events will not have an impact on our business, results of operations or financial condition since the extent and duration of the health crisis remains uncertain. Future adverse developments in connection with the COVID-19 crisis, including additional waves or resurgences of COVID-19 outbreaks, new strains or variants of the virus, evolving international, federal, state and local restrictions and safety regulations in response to COVID-19 risks, changes in consumer behavior and health concerns, the pace of economic activity in the wake of the COVID-19 crisis, or other similar issues could adversely affect our business, results of operations or financial condition in the future, or our financial results and business performance in future periods. Various constraints in our merchandise supply chain have resulted in delays in our ability to convert demand into net revenue at normal historical rates. We anticipate that the business conditions related to COVID-19 will continue to adversely affect the capacity of our vendors and supply chain to meet our demand during fiscal year 2021. We expect that our supply chain may catch up to demand in the foreseeable future, but business circumstances and operational conditions in numerous international locations where our vendors operate cannot be predicted with certainty. Depending on the future course of the pandemic and further outbreaks, we may experience further restrictions and closures of our physical operations in our Showrooms, Design Studios and Outlet stores. Although we experienced strong demand for our products during fiscal year 2020 and the nine months ended September 30, 2021, some of the demand may have been driven by stay-at-home restrictions that were in place throughout many parts of the United States. The exact impact of future changes to these stay-at-home restrictions cannot be predicted with certainty. Basis of Presentation The condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying condensed consolidated financial statements include our accounts and those of our wholly owned subsidiaries. Accordingly, all intercompany balances and transactions have been eliminated through the consolidation process. Certain reclassifications have been made to prior years' condensed consolidated financial statements to conform to the current year's presentation. Unaudited Interim Condensed Financial Statements The accompanying condensed consolidated balance sheet at September 30, 2021, the condensed consolidated statements of comprehensive income and changes in mezzanine equity and members’ deficit for the nine and three months ended September 30, 2021 and 2020, the condensed consolidated statements of cash flows for the nine months ended September 30, 2021 and 2020, and the related interim condensed consolidated disclosures are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In management’s opinion, the accompanying condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company’s financial position at September 30, 2021; the results of operations and changes in mezzanine equity and members’ deficit for the nine and three months ended September 30, 2021 and 2020; and cash flows for the nine months ended September 30, 2021 and 2020. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The results for the nine and three months ended September 30, 2021 and 2020 are not necessarily indicative of the operating results to be expected for the full fiscal year or any future period. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's final prospectus filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended, dated November 3, 2021. Use of Estimates The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accounting estimates and other matters included within our condensed consolidated financial statements, notes to the condensed consolidated financial statements and management’s discussion and analysis are revenue recognition, including a reserve for merchandise returns, goodwill and fair value of financial instruments which include, but are not limited to accounts receivable, payables, lease obligations, incentive unit compensation and a derivative instrument. Client Deposits Client deposits represent payments made by clients on orders. At the time of purchase, the Company collects deposits for all orders equivalent to at least 50 percent of the clients’ purchase price. Orders are recognized as revenue when the merchandise is delivered to the client and at the time of delivery the client deposit is no longer recorded as a liability. The Company expects that client deposits as of September 30, 2021 will be recognized as net revenue within the next 12 months, as the performance obligations are satisfied. Gift Cards The Company sells gift cards to clients in our Showrooms and through our website. Such gift cards do not have expiration dates. We defer revenue when payments are received in advance of performance for unsatisfied obligations related to our gift cards. The liability related to unredeemed gift cards of $0.8 million and $0.8 million is recorded in the accrued other expenses line item of the condensed consolidated balance sheets at September 30, 2021 and December 31, 2020, respectively. The Company recognizes income associated with breakage proportional to actual gift card redemptions. Fair Values of Financial Instruments The Company’s primary financial instruments are accounts receivable, payables, lease obligations, incentive unit compensation and a derivative instrument. Due to the short-term maturities of accounts receivable and payables, the Company believes the fair values of these instruments approximate their respective carrying values at September 30, 2021 and December 31, 2020. See Note 4 for discussion of our derivative, Note 5 for discussion of our lease obligations and Note 7 for discussion of our incentive unit compensation instruments. The Company has established a hierarchy to measure our financial instruments at fair value, which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect the Company’s own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. The hierarchy defines three levels of inputs that may be used to measure fair value: Level 1Unadjusted quoted prices in active markets for identical, unrestricted assets and liabilities that the reporting entity has the ability to access at the measurement date. Level 2Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability. Level 3Unobservable inputs that reflect the entity’s own assumptions about the assumptions market participants would use in the pricing of the asset or liability and are consequently not based on market activity but rather through particular valuation techniques. Correction of an Immaterial Error During the third quarter of 2021, the Company recorded an out-of-period adjustment to correct prior period overstatements of property, furniture and equipment, net and the cumulative understatement of selling, general and administrative expenses of $3.0 million. The errors were primarily caused by a capital lease asset being depreciated over a longer incorrect useful life. Management evaluated the impacts of the out-of-period adjustments to correct the errors for the nine and three months ended September 30, 2021 and for prior periods, both individually and in the aggregate, and concluded that the adjustment was not material to the Company’s consolidated annual or interim financial statements for all impacted periods.

Recently Issued Accounting Standards	9 Months Ended
Recently Issued Accounting Standards	Sep. 30, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards New Accounting Standards or Updates Not Yet Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases, which for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, on its balance sheets. While it will still be necessary for lessees to distinguish between “operating” and “financing” (formerly known as “capital”) leases, and for lessors to distinguish between sales-type, direct financing, and operating leases, these distinctions will primarily affect how a lessee or lessor must recognize expense or income, respectively, in its income statement. The new guidance is effective for financial statements issued for annual periods beginning after December 15, 2021, for the Company. Early adoption is permitted. The adoption of this ASU will result in a material increase on the Company’s condensed consolidated balance sheets for lease liabilities and right-of-use assets. While the Company is continuing to evaluate all potential impacts of the standard, we do not expect the adoption to have a material impact on the Company’s consolidated net earnings or cash flows. The Company plans to adopt ASU 2016-02 in 2022.In October 2020, the FASB issued ASU 2020-10, “Codification Improvements.” The amendments in this update represent changes to clarify the Codification or correct unintended application of guidance that are not expected to have a significant effect on current accounting practice. The amendments in this update affect a wide variety of Topics in the Codification and apply to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for annual periods beginning after December 15, 2021 for non-public business entities. Early application is permitted. The amendments in this update should be applied retrospectively. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

Merchandise Warranties

9 Months Ended

Sep. 30, 2021

Product Warranties Disclosures [Abstract]

Merchandise Warranties

The Company warrants certain merchandise to be free of defects in both construction materials and workmanship from the date the performance obligation was fulfilled to the client for three to ten years depending on the merchandise category. The Company accounts for merchandise warranties by accruing an estimated liability when we recognize revenue on the sale of warrantied merchandise. We estimate future warranty claims based on claim experience which includes materials and labor costs to perform the repairs. We use judgment in making our estimates. We record differences between our estimated and actual costs when the differences are known.

A reconciliation of the changes in our limited merchandise warranty liability is as follows (amounts in thousands):


	Nine Months Ended September 30,				Three Months Ended September 30,
	2021		2020		2021		2020
Balance as of beginning of period	$	3,326	$	3,164	$	3,868	$	3,020
Accruals during the period	5,652		3,211		2,138		1,112
Settlements during the period	(4,712)		(3,306)		(1,740)		(1,063)
Balance as of end of the period (1)	$	4,266	$	3,069	$	4,266	$	3,069

(1) - $2.4 million and $1.8 million were recorded in accrued other expenses at September 30, 2021 and December 31, 2020, respectively. The remainder is recorded in other long-term liabilities.

We recorded accruals during the periods presented in the table above, primarily to reflect charges that relate to limited merchandise warranties issued during the respective periods.

Long-Term Debt

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Long-Term Debt

On June 25, 2020, the Company entered into a credit agreement (“Revolver”), which includes a revolving credit facility of $30.0 million with availability limited pursuant to a borrowing base formulated based on specified percentages of eligible inventory, net of reserves. The Company’s borrowings under the Revolver bears variable interest rates at the LIBOR index rate (“LIBOR”) plus the applicable margin (5.5% at September 30, 2021). In the event LIBOR ceases to be available during the term of the Revolver, the Revolver provides procedures to determine an Alternate Base Rate.

At September 30, 2021, we had no availability on the Revolver based on the borrowing base formula. The Company has the option, subject to terms and conditions, to borrow on the Revolver by means of LIBOR loans. The Revolver has certain financial covenants, including a minimum fixed charge ratio and minimum EBITDA requirements. The Revolver carries a non-use fee of 0.50% per annum. Loan costs related to the Revolver of $1.5 million are recorded in other noncurrent assets, net on the

condensed consolidated balance sheets and are amortized over the term of the debt on a straight-line basis, which approximates the effective interest method. Amortization expense was $0.4 million and $0.1 million for the nine and three months ended September 30, 2021, and is included in interest expense within the condensed consolidated statements of comprehensive income. Accumulated amortization related to loan costs for the revolver was $0.6 million as of September 30, 2021. The Revolver expires on June 25, 2023.

Prior to the Company entering into the Revolver, the debt structure (“Prior Credit Facilities”) included a revolving credit facility of $30.0 million (the “Prior Revolver”) with availability limited pursuant to a borrowing base formula based on specified percentages of eligible inventories and accounts receivable.

The Company had the option, subject to terms and conditions, to borrow on the Prior Revolver by means of any combination of Base Rate Loans or LIBOR Loans. The Company’s borrowings under the Prior Revolver bore variable interest rates for Base Rate Loans of the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate, (c) the LIBOR Rate plus 1%, and (d) 4.00% and at LIBOR loans at LIBOR plus the applicable margin. The Prior Revolver carried a non-use fee of 0.50% per annum. Loan costs related to the Prior Revolver were recorded in other noncurrent assets, net and were amortized over the term of the debt on a straight-line basis. Amortization expense was $0.2 million and $0.0 million for the nine and three months ended September 30, 2020, and is included in interest expense within the condensed consolidated statements of comprehensive income. The unamortized balance of the loan costs of $0.6 million as of June 25, 2020 were written off as interest expense within the condensed consolidated statements of comprehensive income, as the Company entered into a new credit agreement with different lenders.

The Company’s Prior Credit Facilities also included a term loan of $40.0 million (the “Term Loan”). The Term Loan bore interest at a rate equal to 16.0% per annum, of which 12.0% per annum was to be paid in cash and 4.0% per annum was to be paid in kind by capitalizing such amount and adding it to the principal amount of the loan each quarter. The Company was required to make a prepayment on the Term Loan in an amount not less than 50 percent of the Company’s Excess Cash Flow, as defined, on or before May 15th of the year following such fiscal year. Other than the mandatory Excess Cash Flow payments, as defined, which were calculated at the end of each fiscal year, the Term Loan had no required periodic principal payments during the term. The Term Loan facility permitted early principal payments subject to a 1.0% prepayment premium through December 26, 2020, and none thereafter. The Term Loan was paid in full on December 28, 2020.

Financing costs related to the Term Loan were amortized over the term of the Term Loan, on a straight-line basis, which approximated the effective interest method. Amortization expense was $0.5 million and $0.2 million for the nine and three months ended September 30, 2020, and is included in interest expense within the condensed consolidated statements of comprehensive income.

The Company’s Term Loan had an exit fee clause which allowed the holder of the Term Loan to receive either $3.0 million upon repayment of the Term Loan or a payout equivalent to 4.0% of the total equity value of the Company. The 4.0% of the total equity value of the Company payout is payable upon a change of control, qualified IPO or sale of all or substantially all assets of the Company. In connection with the repayment of the Term Loan on December 28, 2020, the holder informed the Company they would decline the option to receive the $3.0 million and elect to receive a payout equivalent to 4.0% of the equity value of the Company. The exit fee is treated as a derivative and adjusted to fair value each reporting period. The Company recorded a liability of $49.5 million and $19.6 million at September 30, 2021 and December 31, 2020, respectively, related to the derivative that is classified within other long-term liabilities on the condensed consolidated balance sheets.

At September 30, 2021, the Company’s valuation of the derivative liability was measured using the probability-weighted expected return model (“PWERM”). The PWERM is a scenario-based methodology that estimates the fair value of the derivative based upon an analysis of future values for the Company. The Company considered two different scenarios: (a) remain private; and (b) IPO. Under

the remain private scenario, as of September 30, 2021, the Company estimated the enterprise value by weighting the guideline public company method and the discounted cash flow method, and then relied on the option pricing method (“OPM”) and applied a discount for lack of marketability (“DLOM”). The OPM estimated the value using the Black-Scholes OPM. The Company will continue to evaluate the above assumptions for each reporting period. The fair value of the exit fee has been determined utilizing unobservable inputs and therefore is a Level 3 measurement under the fair value hierarchy.

The key assumptions used within the Black-Scholes OPM as of September 30, 2021 are as follows:


			September 30, 2021
Term			10 years
Risk-free rate of return			1.50%
Volatility			40.00%
Dividend yield			0%

At December 31, 2020, the Company used a discounted cash flow method and guideline public company method to determine the fair value of equity which was used to calculate the fair value of the derivative liability. The key assumptions used within the valuation as December 31, 2020 are as follows:


			December 31, 2020
Term			10 years
Risk-free rate of return			0.90%
Volatility			40.00%
Dividend yield			0%

The assumed volatility assumption is based on that of an identified group of comparable public companies. The fair value of the exit fee has been determined utilizing unobservable inputs and therefore is a Level 3 measurement under the fair value hierarchy.

The Company was in compliance with all covenants at September 30, 2021 and December 31, 2020. See Note 12 for a discussion of the termination of the revolver and the entering into a new revolving credit facility agreement.

Leases

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

The Company leases real estate and equipment under operating leases, some of which are from related parties. The most significant obligations under these lease agreements require the payments of periodic rentals, real estate taxes, insurance and maintenance costs. Rent expense for the nine months ended September 30, 2021 and 2020 was $47.1 million and $43.5 million, respectively. Rent expense for the three months ended September 30, 2021 and 2020 was $15.8 million and $14.5 million, respectively. Amortization of landlord improvements for the nine months ended September 30, 2021 and 2020 was $8.7 million and $7.8 million, respectively. Amortization of landlord improvements for the three months ended September 30, 2021 and 2020 was $3.1 million and $2.7 million, respectively. Depending on particular Showroom leases, the Company can also owe a percentage rent payment if particular Showrooms meet certain sales figures. Percentage rent expense for the nine months ended September 30, 2021 and 2020 was $2.5 million and $0.7 million, respectively. Percentage rent expense for the three months ended September 30, 2021 and 2020 was $1.3 million and $0.1 million, respectively.

In March, 2021, the Company entered into a lease agreement with a related party for a distribution center and manufacturing building, with construction expected to be completed in the fourth quarter of

2021. The base lease term is for 12-years, with a 10-year renewal option and two additional 5-year renewal options at the higher of the minimum base rent or the fair market rent at the time of renewal execution. The monthly rental payments range from $0.2 million to $0.3 million during the 12-year base lease term and from $0.4 million to $0.5 million during the 10-year renewal period. The Company has concluded that the lease is an operating lease.

Future minimum rental payments required under operating leases with initial or remaining noncancelable lease terms as of September 30, 2021, are as follows (amounts in thousands):


Year Ending December 31,	Third Party		Related Party		Total

Remainder of 2021	$	10,234	$	1,143	$	11,377
2022	40,802		4,596		45,398
2023	36,813		4,686		41,499
2024	32,614		3,873		36,487
2025	28,135		3,455		31,590
2026	24,569		3,374		27,943
Thereafter	104,163		25,564		129,727
	$	277,330	$	46,691	$	324,021

In September, 2014, the Company entered into a lease agreement with a related party on a triple net basis for our headquarters building and distribution center, with construction completed during 2016. The base lease term is 17-years, with a 10-year renewal option at fixed rental payments, and with two additional 5-year renewal options at the fair market rental payments. The monthly rental payments range from $0.2 million to $0.5 million during the 17-year base lease term and from $0.5 million to $0.6 million during the 10-year renewal period. The Company has concluded that the lease is a capital lease. The capital lease obligation and related asset were valued at $45 million and were recorded in 2016 when the Company took control of the property. In September 2021, the Company amended the existing capital lease agreement to extend the lease term for an additional three years, which increased the capital lease obligation by $2.4 million and includes monthly rental payments of $0.6 million.

Further, the amended capital lease agreement provides for the expansion of the Company’s distribution center and monthly rental payments that have not been determined as of September 30, 2021. As part of the amended capital lease agreement, we qualify as the deemed owner of the expansion project due to significant involvement during the construction period under build-to-suit lease accounting requirements. We recorded the cost of the expansion in property, furniture and equipment, net and the offsetting lease financing obligations is recorded in accrued other expenses on our condensed consolidated balance sheets. As of September 30, 2021, we have recognized an asset and recorded a build-to-suit financing obligation of $1.1 million in accrued other expenses. During the fourth quarter of 2021 the related party lessor sold its interest in the leased assets to a third party. As a result, the lease will no longer be with a related party of the Company. Accumulated amortization was $9.5 million and $5.3 million at September 30, 2021 and December 31, 2020, respectively.

Future minimum lease payments at September 30, 2021, for the capital lease related to the Company’s corporate headquarters and distribution center, are as follows (amounts in thousands):


Year Ending December 31,
Remainder of 2021	$	1,168
2022	4,673
2023	4,673
2024	4,673
2025	4,673
2026	5,132
Thereafter	120,392
	145,384
Less: Amount representing interest	(95,287)
	$	50,097

The Company has received certain rent abatements and has scheduled rent increases under various real estate leases. The condensed consolidated statements of comprehensive income reflects rent expense on a straight-line basis over the terms of the respective leases. A deferred rental obligation of $76.5 million and $71.2 million related to the lease incentives and the straight-line rent expense is reflected in the condensed consolidated balance sheets at September 30, 2021 and December 31, 2020, respectively, in the deferred rent and lease incentives line item.

Mezzanine Equity	9 Months Ended
Mezzanine Equity	Sep. 30, 2021
Temporary Equity Disclosure [Abstract]
Mezzanine Equity	Mezzanine EquityIn connection with the issuance of the Prior Credit Facilities discussed in Note 4, the Class A and Class B unit equity holders made an aggregate $25.0 million capital contribution to the Company in exchange for 1,250,000 Class A Preferred Units and 1,250,000 Class B Preferred Units, respectively (collectively, the “Preferred Units”). The Preferred Units were issued pursuant to the Third Amended and Restated Limited Liability Company Agreement of the Company dated June 26, 2017 (the “2017 LLC Agreement”), and accrue a 16% per annum (compounded annually) preferred return. The Preferred Units have no voting rights and do not participate in profits or losses. Preferred Unit holders are entitled to receive distributions in excess of tax distributions to Class A and B members in proportion to the accrued and unpaid preferred return and unreturned capital contributions. Further, Preferred Unit holders are entitled to receive proceeds upon a capital transaction before other unit holders in proportion to the accrued and unpaid preferred return and unreturned capital contributions. The Company can redeem the Preferred Units at our discretion, however, because the Preferred Unit holders control the Board and could force the Company to redeem the Preferred Units they are recorded as mezzanine equity within the condensed consolidated balance sheets.The accumulated 16% preferred return was $15.8 million at September 30, 2020. On December 29, 2020, the Preferred Units were repaid in full including the preferred return.

Incentive Unit Compensation Arrangements

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Incentive Unit Compensation Arrangements

In May of 2021, the 2017 LLC Agreement and 2017 Equity Plan were amended to authorize the Company to issue up to 967,987 Class G Units. Additionally, in accordance with the amendments the authorized Class F and Class F-1 Units that could be issued were reduced to 2,190,514 and 2,190,514, respectively. No changes to the Company’s Class C and D incentive units were made. The Class C, D, F, F-1 and G Units are collectively referred to as the “Incentive Units.”

In May, June and July of 2021, the Company granted Class G Units that vest over a five year term and become fully vested in the event of a change in control, death or disability, as long as the holder of the

Class G Units is employed by the Company on the date of such events. Further, certain unit holders who are terminated without cause will have unvested units fully vest upon that event.

The holders of the Class G Units do not share in distributions of operating cash flows. Upon the Class G Unit holder’s termination of employment, all unvested Class G Units are forfeited, and the Company has the right to purchase all vested Class G Units at a per unit price equal to the fair market value of Class G Unit determined at the date of such right is exercised as determined by an independent appraisal firm to be mutually agreed to by the Company and unit holder; provided; however, all vested and unvested Class G Units are forfeited without compensation in the event of termination with cause.

The Company has recorded Incentive Unit compensation expense of $1.1 million and $0.3 million for the nine months ended September 30, 2021 and 2020, respectively. Incentive Unit compensation expense was $0.7 million and $0.0 million for the three months ended September 30, 2021 and 2020, respectively. Incentive Unit compensation expense is recorded within the selling, general and administrative expenses line item of the condensed consolidated statements of comprehensive income. Total unrecognized compensation cost for the Incentive Units to be recognized in future periods is $12.3 million at September 30, 2021, and will be recognized over a weighted average period of 4.55 years. The total grant-date fair value of incentive units that vested as of September 30, 2021 and December 31, 2020, were $0.3 million and $0.4 million, respectively.

Incentive Unit activity through September 30, 2021, is as follows:


	Class C			Class D			Class F/F-1			Class G
	Units	Weighted Average Grant Date Fair Value		Units	Weighted Average Grant Date Fair Value		Units	Weighted Average Grant Date Fair Value (1)		Units	Weighted Average Grant Date Fair Value
December 31, 2020	1,868,913	$	0.57	96,318	$	0.83	4,381,030	$	0.63	—	$	—
Granted	—	—		—	—		—	—		701,965	18.10
Forfeited	—	—		—	—		(109,916)	0.77		—	—
September 30, 2021	1,868,913	$	0.57	96,318	$	0.83	4,271,114	$	0.63	701,965	$	18.10

(1) - For each Class F Unit a corresponding Class F-1 Unit is authorized, issued and outstanding. The Class F Units and Class F-1 Units are aggregated for purposes of valuation.

Vested Incentive Units as of September 30, 2021 and December 31, 2020, are as follows:


	Class C	Class D	Class F/F-1	Class G
September 30, 2021	1,653,476	96,318	2,982,442	—
December 31, 2020	1,653,476	96,318	2,167,547	—

At September 30, 2021, the Company’s valuation of the Incentive Units granted in May, June and July of 2021 were measured using the PWERM. The PWERM is a scenario-based methodology that estimates the fair value of the Incentive Units awarded based upon an analysis of future values for the Company. The Company considered two different scenarios: (a) remain private; and (b) IPO. Under the remain private scenario, as of June 30, 2021, the Company estimated the enterprise value by weighting the guideline public company method and the discounted cash flow method, and then relied on the OPM and applied a DLOM. The OPM estimated the value using the Black-Scholes OPM. The fair value of the Incentive Units have been determined utilizing unobservable inputs and therefore is a Level

3 measurement under the fair value hierarchy.


			2021 Awards
Term			10 years
Risk-free rate of return			1.50%
Volatility			40.00%
Dividend yield			0%

The expected term represents our expected time until a liquidity event as of the valuation date. The assumed volatility assumption is based on that of an identified group of comparable public companies over a similar term. The risk-free rate of return is based on the yields of U.S. Treasury securities with maturities similar to the expected term. We used an expected divided yield of zero, as we do not plan to pay cash dividends for the foreseeable future.

The fair values of each class of Incentive Units have been determined utilizing unobservable inputs, and therefore are Level 3 measurements under the fair value hierarchy.

Additionally, a probability distribution of possible future equity values is completed and incorporated into the calculation of respective Incentive Unit fair values. This is necessary as upon the occurrence of a liquidity event in the future, the proceeds thereof will be allocated in accordance with the distribution waterfall defined within the 2017 LLC Agreement.

Segment Reporting

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Reporting

Our chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making decisions, assessing financial performance and allocating resources. We operate our business as one operating segment and therefore we have one reportable segment that offers an assortment of merchandise across a number of categories, including furniture, lighting, textiles, décor, and outdoor. The assortment of merchandise can be purchased through our Showroom and eCommerce sales channels.

The majority of our net revenue is generated through sales to clients in the United States. Sales to clients outside of the United states are not significant. Further, no single client represents more than ten percent or more of our net revenue.

The following table shows net revenue by merchandise sales channel for the nine and three months ended September 30, 2021 and 2020, respectively (amounts in thousands):


	Nine Months Ended September 30,				Three Months Ended September 30,
	2021		2020		2021		2020
Retail	$	457,439	$	283,286	$	166,928	$	98,894
eCommerce	101,251		61,320		36,405		21,607
Total net revenue	$	558,690	$	344,606	$	203,333	$	120,501

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Net and Comprehensive Income per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Net and Comprehensive Income per Share

Net and Comprehensive Income per ShareAs discussed in Note 12, the Company reorganized its ownership structure from a limited liability company to a corporation for the purpose of issuing common stock on a publicly traded exchange. As a result of the Reorganization and IPO, existing Class A and Class B Unitholders of the Company were issued Class A and Class B common stock in Arhaus, Inc., in accordance with the distribution waterfall defined in the Company’s 2017 LLC Agreement. The Class A Unitholders received 80,792,206 shares

of Class B common stock and the Class B Unitholders received 31,266,536 shares of Class A common stock.

Accordingly, all share and per share amounts for all periods presented in the condensed consolidated statements of comprehensive income and this note have been adjusted retroactively, where applicable, to reflect the reorganization transaction.

Basic and diluted net and comprehensive income per share for the nine and three months ended September 30, 2021 and 2020, was calculated by adjusting net and comprehensive income attributable to Arhaus, LLC for preferred dividends, and dividing by basic and diluted weighted-average number of common shares outstanding (amounts in thousands except unit and per share data). Management Incentive Unitholders and Preferred Unitholders do not participate in the earnings or losses of the Company as of September 30, 2021 and 2020 and therefore are not participating securities. As such, they are not included within the calculation of basic or diluted earnings per share as of September 30, 2021 and 2020.


	Nine Months Ended September 30,				Three Months Ended September 30,
	2021		2020		2021		2020
Numerator
Net and comprehensive income	$	30,580	$	14,432	$	14,383	$	783
Less: Preferred units dividend	—		4,374		—		1,469
Net and comprehensive income (loss) attributable to the shareholders	$	30,580	$	10,058	$	14,383	$	(686)

Denominator - Basic and Diluted
Weighted-average number of common shares outstanding	112,058,742		112,058,742		112,058,742		112,058,742
Net and comprehensive income (loss) per share, basic and diluted	$	0.27	$	0.09	$	0.13	$	(0.01)

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company may be subject to legal proceedings that arise in the ordinary course of business. There are currently no proceedings to which the Company is a party, nor does the Company have knowledge of any proceedings that are threatened against the Company.Commitments and ContingenciesThe Company is involved in litigation and claims that are incidental to its business. Although the outcome of these matters cannot be determined at the present time, management of the Company believes that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsFor the Company’s discussion of related party transactions see Note 5.

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events The Company has evaluated subsequent events through the date of the issuance of the condensed balance sheets, and no additional matters were identified requiring recognition or disclosure in the financial statements, except for events described below. Reorganization and Initial Public Offering In connection with the IPO, the Company reorganized its ownership structure from a limited liability company to a corporation for the purpose of issuing common stock on a publicly traded exchange. Arhaus, Inc. serves as a holding company that indirectly wholly owns Arhaus, LLC and its subsidiaries. Pursuant to the terms of the Integrated Contribution Agreement by and among the Company, FS Arhaus Holding, Inc. (“FS Arhaus”), a Delaware corporation, Homeworks Holdings Inc. (“Homeworks”) and the unit holders of Arhaus, the following series of transactions were completed on November 8, 2021, which we refer to, collectively, as the Reorganization. These transactions included: •the amendment and restatement of the certificate of incorporation of the Company, to authorize two classes of common stock, Class A common stock and Class B common stock and to authorize the Company to issue up to 750,000,000 shares of common stock, consisting of 600,000,000 share of Class A common stock, par value of $0.001 per share, 100,000,000 shares of Class B common stock, par value of $0.001 and 50,000,000 shares of Preferred Stock; and ◦the Company’s acquisition of the units of Arhaus currently held by FS Arhaus, Homeworks, John Reed (“Reed”) through the John P Reed Trust dated April 29, 1985, as Amended (“Reed Revocable Trust”) and the members of management who hold incentive units (“Management Unitholders”), pursuant to the mergers and exchange described below, and the issuance in those transactions of Class A common stock to the holders of FS Arhaus and the Management Unitholders and Class B common stock to Homeworks, Reed and the Reed Revocable Trust. The following steps describe the transactions that were completed to effect the Reorganization on November 8, 2021: •Step 1: The Company formed two wholly owned subsidiaries, Ash Merger Sub 1, Inc. (“Merger Sub 1”), a Delaware corporation, and Ash Merger Sub 2, Inc. (“Merger Sub 2”), a Delaware corporation; ◦Step 2(a): Merger Sub 1 merged with and into FS Arhaus, with FS Arhaus surviving the merger, or Surviving Corporation 1, and became a wholly owned subsidiary of the Company and the holders of FS Arhaus received shares of Class A common stock; ◦Step 2(b): Merger Sub 2 merged with and into Homeworks, with Homeworks surviving the merger, or Surviving Corporation 2, and became a wholly owned subsidiary of the Company and the owners of Homeworks, received shares of Class B common stock; ◦Step 2(c): The Management Unitholders contributed their units of Arhaus to the Company in exchange for shares of Class A common stock; ◦Step 2(d): Reed and the Reed Revocable Trust contributed their respective units of Arhaus to the Company in exchange for shares of Class B common stock; and ◦Step 2(e): The Company contributed the units of Arhaus that it owns directly to Surviving Corporation 1 and Surviving Corporation 2 in proportion to the units of Arhaus owned by Surviving Corporation 1 and Surviving Corporation 2; and ◦Step 3: The Company issued shares of our Class A common stock to the purchasers in the IPO. As a result of the Reorganization, a total of 39,623,041 shares of Class A common stock and 87,536,950 shares of Class B common stock were issued to the former holders of FS Arhaus, the former holders of Homeworks, Reed, the Reed Revocable Trust and the Management Unitholders. Of the total 127,159,991 shares of common stock, 2,520,227 shares of Class A common stock and 596,598 shares of Class B common stock issued to Management Unitholders are subject to certain vesting conditions specified in individual award agreements and were issued as restricted shares with similar time-based vesting provisions as the incentive units that were exchanged for such shares. If the vesting conditions of the restricted stock are not satisfied, such restricted stock will be forfeited and canceled. On November 8, 2021, the Company consummated its IPO of 12,903,226 shares of Class A common stock at an IPO price of $13.00 per share. Shares of the Company’s Class A common stock began trading on the NASDAQ Global Select Market under the ticker symbol “ARHS” on November 4, 2021. Revolving Credit Facilities On November 4, 2021 Arhaus terminated its revolving credit facility dated June 25, 2020, of which there were no borrowings drawn. The termination of the revolving credit facility resulted in the Company paying a $0.6 million early termination fee and writing off the remaining unamortized loan costs of $0.8 million. On November 8, 2021, the Company entered into a new revolving credit facility agreement (the “2021 Credit Facility”). The 2021 Credit Facility provides for, among other things, (1) a revolving credit facility, in an aggregate amount not to exceed at any time outstanding the amount of such lender’s commitment, (2) a letter of credit commitment, in an amount equal to the lesser of (a) $10 million, and (b) the amount of the revolving credit facility as of such date, and (3) a swingline loan, in an amount equal to the lesser of (a) $5 million, and (b) the amount of the revolving credit facility as of such date. The aggregate amount of all commitments of all lenders under the 2021 Credit Facility is $50 million, which may be increased pursuant to the terms of the 2021 Credit Facility. The 2021 Credit Facility contains restrictive covenants and has certain financial covenants, including a minimum rent-adjusted total leverage ratio and minimum fixed charge ratio. The 2021 Credit Facility bears variable interest rates at the prevailing Bloomberg Short-Term Bank Yield index rate plus the applicable margin (1.75% at origination), whereas the applicable margin is adjusted quarterly based on the Company’s consolidated rent-adjusted total leverage ratio. Subsequent Event The Company has evaluated subsequent events through the date of the issuance of the condensed consolidated financial statements, and no additional matters were identified requiring recognition or disclosure in the financial statements, except for events described below. Reorganization and Initial Public Offering In connection with the IPO, the Company reorganized its ownership structure from a limited liability company to a corporation for the purpose of issuing common stock on a publicly traded exchange. Arhaus, Inc. serves as a holding company that indirectly wholly owns Arhaus, LLC and its subsidiaries. Pursuant to the terms of the Integrated Contribution Agreement by and among Arhaus, Inc., a Delaware corporation, FS Arhaus Holding, Inc. (“FS Arhaus”), a Delaware corporation, Homeworks Holdings Inc. (“Homeworks”) and the members of management who hold incentive units (“Management Unitholders”) of the Company, the following series of transactions were completed on November 8, 2021, which we refer to, collectively, as the Reorganization. These transactions included: •the amendment and restatement of the certificate of incorporation of Arhaus, Inc., to authorize two classes of common stock, Class A common stock and Class B common stock and to authorize the Company to issue up to 750,000,000 shares of common stock, consisting of 600,000,000 share of Class A common stock, par value of $0.001 per share, 100,000,000 shares of Class B common stock, par value of $0.001 and 50,000,000 shares of Preferred Stock; and •Arhaus, Inc.’s acquisition of the units of the Company currently held by FS Arhaus, Homeworks, John Reed (“Reed”) through the John P Reed Trust dated April 29, 1985, as Amended (“Reed Revocable Trust”) and the Management Unitholders, pursuant to the mergers and exchange described below, and the issuance in those transactions of Class A common stock to the holders of FS Arhaus and the Management Unitholders and Class B common stock to Homeworks, Reed and the Reed Revocable Trust. The following steps describe the transactions that were completed to effect the Reorganization on November 8, 2021: •Step 1: Arhaus, Inc. formed two wholly owned subsidiaries, Ash Merger Sub 1, Inc. (“Merger Sub 1”), a Delaware corporation, and Ash Merger Sub 2, Inc. (“Merger Sub 2”), a Delaware corporation; •Step 2(a): Merger Sub 1 merged with and into FS Arhaus, with FS Arhaus surviving the merger, or Surviving Corporation 1, and became a wholly owned subsidiary of Arhaus, Inc. and the holders of FS Arhaus received shares of Class A common stock; •Step 2(b): Merger Sub 2 merged with and into Homeworks, with Homeworks surviving the merger, or Surviving Corporation 2, and became a wholly owned subsidiary of Arhaus, Inc. and the owners of Homeworks, received shares of Class B common stock; •Step 2(c): The Management Unitholders contributed their units of the Company to Arhaus, Inc. in exchange for shares of Class A common stock; •Step 2(d): Reed and the Reed Revocable Trust contributed their respective units of the Company to Arhaus, Inc. in exchange for shares of Class B common stock; •Step 2(e): Arhaus, Inc. contributed the units of the Company that it owns directly to Surviving Corporation 1 and Surviving Corporation 2 in proportion to the units of the Company owned by Surviving Corporation 1 and Surviving Corporation 2; and •Step 3: Arhaus, Inc. issued shares of our Class A common stock to the purchasers in the IPO. As a result of the Reorganization, a total of 39,623,041 shares of Class A common stock and 87,536,950 shares of Class B common stock were issued to the former holders of FS Arhaus, the former holders of Homeworks, Reed, the Reed Revocable Trust and the Management Unitholders. Of the total 127,159,991 shares of common stock, 2,520,227 shares of Class A common stock and 596,598 shares of Class B common stock issued to Management Unitholders are subject to certain vesting conditions specified in individual award agreements and were issued as restricted shares with similar time-based vesting provisions as the incentive units that were exchanged for such shares. If the vesting conditions of the restricted stock are not satisfied, such restricted stock will be forfeited and canceled. On November 8, 2021, Arhaus, Inc. consummated its IPO of 12,903,226 shares of Class A common stock at an IPO price of $13.00 per share. Shares of Arhaus, Inc.’s Class A common stock began trading on the NASDAQ Global Select Market under the ticker symbol “ARHS” on November 4, 2021. Arhaus, Inc. used a portion of the net proceeds received from the IPO to pay the term loan exit fee of $64.1 million in connection with the term loan that was repaid on December 28, 2020, as discussed in Note 4. The Company will record an additional $14.6 million of selling, general and administrative expenses in the fourth quarter of 2021 related to the change in fair value of the term loan exit fee as a result of the IPO. Revolving Credit Facilities On November 4, 2021 the Company terminated the Revolver dated June 25, 2020 of which there were no borrowings drawn. The termination of the Revolver resulted in the Company paying an $0.6 million early termination fee and writing off the remaining unamortized loan costs of $0.8 million. On November 8, 2021, Arhaus, Inc. entered into a new revolving credit facility agreement (the “2021 Credit Facility”). The 2021 Credit Facility provides for, among other things, (1) a revolving credit facility, in an aggregate amount not to exceed at any time outstanding the amount of such lender’s commitment, (2) a letter of credit commitment, in an amount equal to the lesser of (a) $10 million, and (b) the amount of the revolving credit facility as of such date, and (3) a swingline loan, in an amount equal to the lesser of (a) $5 million, and (b) the amount of the revolving credit facility as of such date. The aggregate amount of all commitments of all lenders under the 2021 Credit Facility is $50 million, which may be increased pursuant to the terms of the 2021 Credit Facility. The 2021 Credit Facility contains restrictive covenants and has certain financial covenants, including a minimum rent-adjusted total leverage ratio and minimum fixed charge ratio. The 2021 Credit Facility bears variable interest rates at the prevailing Bloomberg Short-Term Bank Yield index rate plus the applicable margin (1.75% at origination), whereas the applicable margin is adjusted quarterly based on Arhaus, Inc.’s consolidated rent-adjusted total leverage ratio.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accounting and reporting policies of the Company are in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Separate statements of operations, comprehensive income, changes in stockholders’ equity, and cash flows have not been presented because the Company has not engaged in any business or other activities except in connection with its formation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates.

Merchandise Warranties (Tables)

9 Months Ended

Sep. 30, 2021

Product Warranties Disclosures [Abstract]

Merchandise Warranty Liability

A reconciliation of the changes in our limited merchandise warranty liability is as follows (amounts in thousands):


	Nine Months Ended September 30,				Three Months Ended September 30,
	2021		2020		2021		2020
Balance as of beginning of period	$	3,326	$	3,164	$	3,868	$	3,020
Accruals during the period	5,652		3,211		2,138		1,112
Settlements during the period	(4,712)		(3,306)		(1,740)		(1,063)
Balance as of end of the period (1)	$	4,266	$	3,069	$	4,266	$	3,069

(1) - $2.4 million and $1.8 million were recorded in accrued other expenses at September 30, 2021 and December 31, 2020, respectively. The remainder is recorded in other long-term liabilities.

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Fair Value Assumptions for Long-Term Debt

The key assumptions used within the Black-Scholes OPM as of September 30, 2021 are as follows:


			September 30, 2021
Term			10 years
Risk-free rate of return			1.50%
Volatility			40.00%
Dividend yield			0%

The key assumptions used within the valuation as December 31, 2020 are as follows:


			December 31, 2020
Term			10 years
Risk-free rate of return			0.90%
Volatility			40.00%
Dividend yield			0%

Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Schedule of Future Minimum Rental Payments Under Operating Leases

Future minimum rental payments required under operating leases with initial or remaining noncancelable lease terms as of September 30, 2021, are as follows (amounts in thousands):


Year Ending December 31,	Third Party		Related Party		Total

Remainder of 2021	$	10,234	$	1,143	$	11,377
2022	40,802		4,596		45,398
2023	36,813		4,686		41,499
2024	32,614		3,873		36,487
2025	28,135		3,455		31,590
2026	24,569		3,374		27,943
Thereafter	104,163		25,564		129,727
	$	277,330	$	46,691	$	324,021

Schedule of Future Minimum Lease Payments Under Capital Leases

Future minimum lease payments at September 30, 2021, for the capital lease related to the Company’s corporate headquarters and distribution center, are as follows (amounts in thousands):


Year Ending December 31,
Remainder of 2021	$	1,168
2022	4,673
2023	4,673
2024	4,673
2025	4,673
2026	5,132
Thereafter	120,392
	145,384
Less: Amount representing interest	(95,287)
	$	50,097

Incentive Unit Compensation Arrangements (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Incentive Unit Activity

Incentive Unit activity through September 30, 2021, is as follows:


	Class C			Class D			Class F/F-1			Class G
	Units	Weighted Average Grant Date Fair Value		Units	Weighted Average Grant Date Fair Value		Units	Weighted Average Grant Date Fair Value (1)		Units	Weighted Average Grant Date Fair Value
December 31, 2020	1,868,913	$	0.57	96,318	$	0.83	4,381,030	$	0.63	—	$	—
Granted	—	—		—	—		—	—		701,965	18.10
Forfeited	—	—		—	—		(109,916)	0.77		—	—
September 30, 2021	1,868,913	$	0.57	96,318	$	0.83	4,271,114	$	0.63	701,965	$	18.10

(1) - For each Class F Unit a corresponding Class F-1 Unit is authorized, issued and outstanding. The Class F Units and Class F-1 Units are aggregated for purposes of valuation.

Incentive Units Vested

Vested Incentive Units as of September 30, 2021 and December 31, 2020, are as follows:


	Class C	Class D	Class F/F-1	Class G
September 30, 2021	1,653,476	96,318	2,982,442	—
December 31, 2020	1,653,476	96,318	2,167,547	—

Fair Value Assumptions


			2021 Awards
Term			10 years
Risk-free rate of return			1.50%
Volatility			40.00%
Dividend yield			0%

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Net Revenue by Segment

The following table shows net revenue by merchandise sales channel for the nine and three months ended September 30, 2021 and 2020, respectively (amounts in thousands):


	Nine Months Ended September 30,				Three Months Ended September 30,
	2021		2020		2021		2020
Retail	$	457,439	$	283,286	$	166,928	$	98,894
eCommerce	101,251		61,320		36,405		21,607
Total net revenue	$	558,690	$	344,606	$	203,333	$	120,501

Net and Comprehensive Income per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Earnings Per Share


	Nine Months Ended September 30,				Three Months Ended September 30,
	2021		2020		2021		2020
Numerator
Net and comprehensive income	$	30,580	$	14,432	$	14,383	$	783
Less: Preferred units dividend	—		4,374		—		1,469
Net and comprehensive income (loss) attributable to the shareholders	$	30,580	$	10,058	$	14,383	$	(686)

Denominator - Basic and Diluted
Weighted-average number of common shares outstanding	112,058,742		112,058,742		112,058,742		112,058,742
Net and comprehensive income (loss) per share, basic and diluted	$	0.27	$	0.09	$	0.13	$	(0.01)

Stockholders' Equity (Details) - Parent Company - $ / shares	Sep. 30, 2021	Jul. 14, 2021
Class of Stock [Line Items]
Common stock , shares authorized (in shares)	1,000	1,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001

Subsequent Events (Details) - USD ($)	Nov. 08, 2021	Nov. 04, 2021	Sep. 30, 2021	Jun. 25, 2020
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Revolver
Subsequent Event [Line Items]
Credit facility, face amount				$ 30,000,000
Credit facility, basis spread on variable rate			5.50%
Subsequent Event
Subsequent Event [Line Items]
Common stock , shares authorized (in shares)	750,000,000
Preferred stock, shares authorized (in shares)	50,000,000
Subsequent Event \| Revolving Credit Facility \| 2021 Credit Facility
Subsequent Event [Line Items]
Credit facility, face amount	$ 50,000,000
Credit facility, basis spread on variable rate	1.75%
Subsequent Event \| Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Revolver
Subsequent Event [Line Items]
Credit facility, early termination fee		$ 600,000
Write off of unamortized loan costs		$ 800,000
Subsequent Event \| Revolving Credit Facility \| Letter of Credit \| 2021 Credit Facility
Subsequent Event [Line Items]
Credit facility, face amount	$ 10,000,000
Subsequent Event \| Revolving Credit Facility \| Swingline Loan \| 2021 Credit Facility
Subsequent Event [Line Items]
Credit facility, face amount	$ 5,000,000
Subsequent Event \| Restricted Stock
Subsequent Event [Line Items]
Stock issued in Reorganization (in shares)	127,159,991
Subsequent Event \| Common, Class A
Subsequent Event [Line Items]
Common stock , shares authorized (in shares)	600,000,000
Common stock, par value (in dollars per share)	$ 0.001
Stock issued in Reorganization (in shares)	39,623,041
Subsequent Event \| Common, Class A \| IPO
Subsequent Event [Line Items]
Sale of stock, shares sold (in shares)	12,903,226
Sale of stock, price per share (in dollars per share)	$ 13.00
Subsequent Event \| Common, Class A \| Restricted Stock
Subsequent Event [Line Items]
Stock issued in Reorganization (in shares)	2,520,227
Subsequent Event \| Common, Class B
Subsequent Event [Line Items]
Common stock , shares authorized (in shares)	100,000,000
Common stock, par value (in dollars per share)	$ 0.001
Stock issued in Reorganization (in shares)	87,536,950
Subsequent Event \| Common, Class B \| Restricted Stock
Subsequent Event [Line Items]
Stock issued in Reorganization (in shares)	596,598

Nature of Business and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Client deposits, percentage collected (at least)			50.00%
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in property, furniture and equipment	$ (137,013)		$ (137,013)		$ (117,696)
Client deposits	260,204		260,204		154,128
Increase in selling, general and administrative expenses	68,137	$ 40,964	196,212	$ 105,122
Other Accrued Expenses
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Client deposits	800		800		$ 800
Overdepreciated capital lease asset
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in property, furniture and equipment	3,000		$ 3,000
Increase in selling, general and administrative expenses	$ 3,000

Merchandise Warranties - Narrative (Details)	9 Months Ended
Merchandise Warranties - Narrative (Details)	Sep. 30, 2021
Minimum
Product Warranty Liability [Line Items]
Warranty, performance obligation period	3 years
Maximum
Product Warranty Liability [Line Items]
Warranty, performance obligation period	10 years

Merchandise Warranties - Change in Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance as of beginning of period	$ 3,868	$ 3,020	$ 3,326	$ 3,164
Accruals during the period	2,138	1,112	5,652	3,211
Settlements during the period	(1,740)	(1,063)	(4,712)	(3,306)
Balance as of the end of the period	4,266	3,069	4,266	3,069
Standard product warranty accrual	4,266	$ 3,069	4,266	$ 3,069
Accrued Other Expenses
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance as of beginning of period			1,800
Balance as of the end of the period	2,400		2,400
Standard product warranty accrual	$ 2,400		$ 2,400

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Sep. 30, 2021	Jun. 24, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jun. 25, 2020
Loan Payable \| Term Loan
Debt Instrument [Line Items]
Credit facility, face amount		$ 40,000
Amortization of loan costs				$ 200		$ 500
Stated interest rate		16.00%
Loan prepayment (not less than)		50.00%
Loan prepayment premium		1.00%
Loan, exit fee, face amount		$ 3,000
Loan, exit fee clause, percentage of total equity		4.00%
Loan Payable \| Term Loan \| Other Long-term Liabilities
Debt Instrument [Line Items]
Loan, derivative liability	$ 49,500		$ 49,500		$ 49,500		$ 19,600
Loan Payable \| Term Loan \| Cash
Debt Instrument [Line Items]
Stated interest rate		12.00%
Loan Payable \| Term Loan \| Paid In Kind
Debt Instrument [Line Items]
Stated interest rate		4.00%
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Revolver
Debt Instrument [Line Items]
Credit facility, face amount								$ 30,000
Credit facility, basis spread on variable rate	5.50%
Credit facility, available borrowing capacity	$ 0		0		$ 0
Credit facility, unused capacity, non-use fee					0.50%
Loan costs, net	1,500		1,500		$ 1,500
Amortization of loan costs			100		400
Accumulated amortization, loan costs	$ 600		$ 600		$ 600
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Prior Revolver
Debt Instrument [Line Items]
Credit facility, face amount		$ 30,000
Credit facility, unused capacity, non-use fee		0.50%
Loan costs, net								$ 600
Amortization of loan costs				$ 0		$ 200
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Prior Revolver \| Fed Funds Rate
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		0.50%
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Prior Revolver \| LIBOR
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		1.00%
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Prior Revolver \| Base Rate
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate		4.00%

Long-Term Debt - Fair Value Assumptions (Details) - Level 3	Sep. 30, 2021 yr	Dec. 31, 2020 yr
Risk-free rate of return \| Black-Scholes OPM
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input	0.0150
Risk-free rate of return \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input		0.0090
Volatility \| Black-Scholes OPM
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input	0.4000
Volatility \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input		0.4000
Dividend yield \| Black-Scholes OPM
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input	0
Dividend yield \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input		0
Term \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability, measurement input	10	10

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2016	Sep. 30, 2014
Operating Leased Assets [Line Items]
Rent expense	$ 15,800	$ 14,500	$ 47,100	$ 43,500
Percentage rent expense	1,300	100	2,500	700
Operating lease, term					12 years
Deferred rent and lease incentives	76,534		76,534			$ 71,213
Related Party
Operating Leased Assets [Line Items]
Operating lease, term								17 years
Capital lease obligations	2,400		2,400				$ 45,000
Capital leases, accumulated amortization	9,500		9,500			$ 5,300
Maximum
Operating Leased Assets [Line Items]
Operating lease, renewal term					10 years
Maximum \| Related Party
Operating Leased Assets [Line Items]
Operating lease, renewal term								10 years
Maximum \| Base term, 12 years
Operating Leased Assets [Line Items]
Rent expense			300
Maximum \| Base term, 17 years \| Related Party
Operating Leased Assets [Line Items]
Rent expense			500
Maximum \| Renewal term, 10 years
Operating Leased Assets [Line Items]
Rent expense			500
Maximum \| Renewal term, 10 years \| Related Party
Operating Leased Assets [Line Items]
Rent expense			600
Minimum
Operating Leased Assets [Line Items]
Operating lease, renewal term					5 years
Minimum \| Related Party
Operating Leased Assets [Line Items]
Operating lease, renewal term								5 years
Minimum \| Base term, 12 years
Operating Leased Assets [Line Items]
Rent expense			200
Minimum \| Base term, 17 years \| Related Party
Operating Leased Assets [Line Items]
Rent expense			200
Minimum \| Renewal term, 10 years
Operating Leased Assets [Line Items]
Rent expense			400
Minimum \| Renewal term, 10 years \| Related Party
Operating Leased Assets [Line Items]
Rent expense			500
Leasehold Improvements
Operating Leased Assets [Line Items]
Amortization	3,100	$ 2,700	8,700	$ 7,800
Leasehold Improvements \| Related Party
Operating Leased Assets [Line Items]
Capital lease obligations	1,100		1,100
Capital leases, asset, net	$ 1,100		$ 1,100

Leases - Future Minimum Rental Payments, Operating Leases (Details) $ in Thousands	Sep. 30, 2021 USD ($)
Operating Leases, Future Minimum Payments [Abstract]
Remainder of 2021	$ 11,377
2022	45,398
2023	41,499
2024	36,487
2025	31,590
2026	27,943
Thereafter	129,727
Future minimum rental payments	324,021
Third Party
Operating Leases, Future Minimum Payments [Abstract]
Remainder of 2021	10,234
2022	40,802
2023	36,813
2024	32,614
2025	28,135
2026	24,569
Thereafter	104,163
Future minimum rental payments	277,330
Related Party
Operating Leases, Future Minimum Payments [Abstract]
Remainder of 2021	1,143
2022	4,596
2023	4,686
2024	3,873
2025	3,455
2026	3,374
Thereafter	25,564
Future minimum rental payments	$ 46,691

Leases - Future Minimum Lease Payments, Capital Leases (Details) $ in Thousands	Sep. 30, 2021 USD ($)
Capital Leases, Future Minimum Payments [Abstract]
Remainder of 2021	$ 1,168
2022	4,673
2023	4,673
2024	4,673
2025	4,673
2026	5,132
Thereafter	120,392
Future minimum payments	145,384
Less: Amount representing interest	(95,287)
Future minimum payments, net	$ 50,097

Mezzanine Equity (Details) - USD ($) $ in Millions			9 Months Ended
Mezzanine Equity (Details) - USD ($) $ in Millions	Dec. 29, 2020	Jun. 26, 2017	Sep. 30, 2020
Class of Stock [Line Items]
Proceeds from issuance of mezzanine equity		$ 25.0
Mezzanine equity, dividend rate (in dollars per share)		16.00%	16.00%
Mezzanine equity, preferred return			$ 15.8
Mezzanine equity, preferred return, payment	$ 15.8
Class A Preferred Units
Class of Stock [Line Items]
Issuance of mezzanine equity (in shares)		1,250,000
Class B Preferred Units
Class of Stock [Line Items]
Issuance of mezzanine equity (in shares)		1,250,000

Incentive Unit Compensation Arrangements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Jul. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	May 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield				0.00%
Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit compensation expense	$ 0.7		$ 0.0	$ 1.1	$ 0.3
Unrecognized compensation cost	12.3			$ 12.3
Unrecognized compensation cost, period for recognition				4 years 6 months 18 days
Grant date fair value of units vested	$ 0.3			$ 0.3			$ 0.4
Dividend yield				0.00%
Incentive Units \| Class G
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						967,987
Award vesting period		5 years
Incentive Units \| Class F
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						2,190,514
Incentive Units \| Class F1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						2,190,514

Incentive Unit Compensation Arrangements - Incentive Unit Activity (Details) - Incentive Units	9 Months Ended
	Sep. 30, 2021 $ / shares shares
Class C
Units
Outstanding, beginning of period (in shares) \| shares	1,868,913
Granted (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Outstanding, end of period (in shares) \| shares	1,868,913
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 0.57
Granted (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Outstanding, end of period (in dollars per share) \| $ / shares	$ 0.57
Class D
Units
Outstanding, beginning of period (in shares) \| shares	96,318
Granted (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Outstanding, end of period (in shares) \| shares	96,318
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 0.83
Granted (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Outstanding, end of period (in dollars per share) \| $ / shares	$ 0.83
Class F/F-1
Units
Outstanding, beginning of period (in shares) \| shares	4,381,030
Granted (in shares) \| shares	0
Forfeited (in shares) \| shares	(109,916)
Outstanding, end of period (in shares) \| shares	4,271,114
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 0.63
Granted (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0.77
Outstanding, end of period (in dollars per share) \| $ / shares	$ 0.63
Class G
Units
Outstanding, beginning of period (in shares) \| shares	0
Granted (in shares) \| shares	701,965
Forfeited (in shares) \| shares	0
Outstanding, end of period (in shares) \| shares	701,965
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 0
Granted (in dollars per share) \| $ / shares	18.10
Forfeited (in dollars per share) \| $ / shares	0
Outstanding, end of period (in dollars per share) \| $ / shares	$ 18.10

Incentive Unit Compensation Arrangements - Incentive Units Vested (Details) - Incentive Units - shares	Sep. 30, 2021	Dec. 31, 2020
Class C
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested incentive units (in shares)	1,653,476	1,653,476
Class D
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested incentive units (in shares)	96,318	96,318
Class F/F-1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested incentive units (in shares)	2,982,442	2,167,547
Class G
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested incentive units (in shares)	0	0

Incentive Unit Compensation Arrangements - Fair Value Assumptions (Details)	9 Months Ended
	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	10 years
Risk-free rate of return	1.50%
Volatility	40.00%
Dividend yield	0.00%

Segment Reporting (Details) $ in Thousands	3 Months Ended		9 Months Ended
Segment Reporting (Details) $ in Thousands	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($) segment	Sep. 30, 2020 USD ($)
Segment Reporting [Abstract]
Number of operating segments (in segments) \| segment			1
Number of reportable segments (in segments) \| segment			1
Segment Reporting Information [Line Items]
Net revenue	$ 203,333	$ 120,501	$ 558,690	$ 344,606
Retail
Segment Reporting Information [Line Items]
Net revenue	166,928	98,894	457,439	283,286
eCommerce
Segment Reporting Information [Line Items]
Net revenue	$ 36,405	$ 21,607	$ 101,251	$ 61,320

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Net and Comprehensive Income per Share - Narrative (Details)	9 Months Ended
	Sep. 30, 2021 shares
Common, Class A
Class of Stock [Line Items]
Shares issued (in shares)	31,266,536
Common, Class B
Class of Stock [Line Items]
Shares issued (in shares)	80,792,206

Net and Comprehensive Income per Share - Calculation of EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator
Net income	$ 14,383	$ 783	$ 30,580	$ 14,432
Less: Preferred units dividend	0	1,469	0	4,374
Net income (loss) attributable to the shareholders, basic	14,383	(686)	30,580	10,058
Net income (loss) attributable to the shareholders, diluted	$ 14,383	$ (686)	$ 30,580	$ 10,058
Denominator - Basic and Diluted
Weighted-average number of common shares outstanding, basic (in shares)	112,058,742	112,058,742	112,058,742	112,058,742
Weighted-average number of common shares outstanding, diluted (in shares)	112,058,742	112,058,742	112,058,742	112,058,742
Net and comprehensive income (loss) per unit, basic (in dollars per share)	$ 0.13	$ (0.01)	$ 0.27	$ 0.09
Net and comprehensive income (loss) per unit, diluted (in dollars per share)	$ 0.13	$ (0.01)	$ 0.27	$ 0.09

Subsequent Event (Details) - USD ($)					3 Months Ended			9 Months Ended
Subsequent Event (Details) - USD ($)	Nov. 08, 2021	Nov. 04, 2021	Sep. 30, 2021	Dec. 28, 2020	Dec. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 25, 2020	Jun. 24, 2020
Subsequent Event [Line Items]
Selling, general and administrative expenses						$ 68,137,000	$ 40,964,000	$ 196,212,000	$ 105,122,000
Loan Payable \| Term Loan
Subsequent Event [Line Items]
Loan, exit fee, payment				$ 64,100,000
Credit facility, face amount											$ 40,000,000
Loan Payable \| Term Loan \| Forecast
Subsequent Event [Line Items]
Selling, general and administrative expenses					$ 14,600,000
Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Revolver
Subsequent Event [Line Items]
Credit facility, face amount										$ 30,000,000
Credit facility, basis spread on variable rate			5.50%
Subsequent Event
Subsequent Event [Line Items]
Common stock , shares authorized (in shares)	750,000,000
Preferred stock, shares authorized (in shares)	50,000,000
Subsequent Event \| Revolving Credit Facility \| 2021 Credit Facility
Subsequent Event [Line Items]
Credit facility, face amount	$ 50,000,000
Credit facility, basis spread on variable rate	1.75%
Subsequent Event \| Revolving Credit Facility \| Credit Agreement \| Credit Agreement - Revolver
Subsequent Event [Line Items]
Credit facility, early termination fee		$ 600,000
Write off of unamortized loan costs		$ 800,000
Subsequent Event \| Revolving Credit Facility \| Letter of Credit \| 2021 Credit Facility
Subsequent Event [Line Items]
Credit facility, face amount	$ 10,000,000
Subsequent Event \| Revolving Credit Facility \| Swingline Loan \| 2021 Credit Facility
Subsequent Event [Line Items]
Credit facility, face amount	$ 5,000,000
Subsequent Event \| Restricted Stock
Subsequent Event [Line Items]
Stock issued in Reorganization (in shares)	127,159,991
Subsequent Event \| Common, Class A
Subsequent Event [Line Items]
Common stock , shares authorized (in shares)	600,000,000
Common stock, par value (in dollars per share)	$ 0.001
Stock issued in Reorganization (in shares)	39,623,041
Subsequent Event \| Common, Class A \| IPO
Subsequent Event [Line Items]
Sale of stock, shares sold (in shares)	12,903,226
Sale of stock, price per share (in dollars per share)	$ 13.00
Subsequent Event \| Common, Class A \| Restricted Stock
Subsequent Event [Line Items]
Stock issued in Reorganization (in shares)	2,520,227
Subsequent Event \| Common, Class B
Subsequent Event [Line Items]
Common stock , shares authorized (in shares)	100,000,000
Common stock, par value (in dollars per share)	$ 0.001
Stock issued in Reorganization (in shares)	87,536,950
Subsequent Event \| Common, Class B \| Restricted Stock
Subsequent Event [Line Items]
Stock issued in Reorganization (in shares)	596,598