secwatch.observer — SEC 8-K summary
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Issuer:     Grove Collaborative Holdings, Inc. (GROV)
CIK:        0001841761
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001628280-23-038265
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841761/000162828023038265/0001628280-23-038265-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841761/000162828023038265/grov-20231109.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-038265

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer