Grove Q4 2023 adjusted EBITDA positive; full-year revenue $259.3M, down 19.4%; guides FY2024 $215-225M

Grove Collaborative Holdings, Inc.

Q4 net revenue $59.9M (-19.2% YoY); gross margin 54.4% (+740 bps YoY).
Q4 adjusted EBITDA $0.1M, positive second consecutive quarter; operating cash flow $1.1M.
Full-year 2023 net revenue $259.3M, down 19.4% YoY; net loss margin improved to (16.7%).
FY2024 guidance: net revenue $215-225M; adjusted EBITDA margin 0.0% to 1.0%.
DTC active customers down 33.2% YoY to 0.9M; net revenue per order record $66.83.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Grove Collaborative Holdings, Inc. reported fourth quarter and full year 2023 results: revenue $59.9 million. Guidance reaffirmed.

Period: fourth quarter and full year 2023
Revenue: $59.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

full year and expect the momentum to continue into 2025 where we plan to be growing and profitable for the entire year.” Fourth Quarter 2023 Financial Results Revenue, Net was $59.9 million, down 3.1% from the third quarter of 2023, and down 19.2% year-over-year. The sequential and year-over-year declines were driven by a decrease in Direct to Consumer (“DTC”) 1

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Source: SEC EDGAR

accession 0001628280-24-009415

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