Grove reports first Adjusted EBITDA profitable quarter; Q3 revenue $61.8M, down 20.6% YoY

Grove Collaborative Holdings, Inc.

2023-Q3 EPS reported -$1.01 revenue$199,421,000

First Adjusted EBITDA positive quarter: $0.2M (0.3% margin); record gross margin 53.8%.
Net revenue $61.8M, down 20.6% YoY; DTC orders down 26.2% YoY due to lower advertising.
DTC Net Revenue per Order hit record $65.2, up 7.6% YoY; Active Customers fell 30.2% to 1.0M.
Guidance: FY2023 revenue lowered to $257.5-262.5M; Adj. EBITDA margin guidance improved to (4.5)%-(5.5)%.
Retail expansion to >7,500 doors with new partners Wegmans and KeHE.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Grove Collaborative Holdings, Inc. reported fiscal third quarter ended September 30, 2023 results: revenue Net revenue of $61.8 million. Guidance raised.

Period: fiscal third quarter ended September 30, 2023
Revenue: Net revenue of $61.8 million
Guidance: raised
Result: reported results

Exact text from the filing

of 2022. Our Q3 results directly reflect the decisions we have made in prior quarters to set Grove up well for profitable growth in the second half of 2024. ● Net revenue of $61.8 million, down 6.6% from the second quarter of 2023, and down 20.6% year-over-year ● Gross margin of 53.8%, a record for the Company, improving 190 basis points from the second quarter of

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Source: SEC EDGAR

accession 0001628280-23-038265

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