Grove Q1 2024: Revenue $53.5M (-25.2%); Adj. EBITDA $1.9M positive, maintains FY guidance

Grove Collaborative Holdings, Inc.

2024-Q1 EPS reported -$0.10 revenue$53,545,000

Revenue $53.5M, down 25.2% YoY; net loss $3.4M vs $13.1M YoY loss.
Adjusted EBITDA positive $1.9M (3.5% margin) vs negative $6.9M prior year.
Cash and equivalents $81.6M; lease restructuring saves >$5M through May 2027.
Maintains FY2024 guidance: revenue $215-225M, Adj. EBITDA margin 0-1%.
DTC orders fell 29.5% YoY to 0.8M; active customers down 35% to 807K.

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 0.9

Grove Collaborative Holdings, Inc. updated its first quarter ended March 31, 2024 guidance (reaffirmed).

Period: first quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

customers’ individual sustainability journeys and transform the industry into a force for human and environmental health.” First Quarter 2024 Financial Results Revenue , Net was $53.5 million, down 10.5% from the fourth quarter of 2023, and down 25.2% year-over-year. The sequential and year-over-year declines continue to be driven by a decrease in Direct to Consumer

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Grove Collaborative Holdings, Inc. updated its first quarter ended March 31, 2024 guidance (reaffirmed).

Period: first quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 14, 2024 , Grove Collaborative Holdings, Inc. (the "Company") issued a press release announcing its earnings for the quarter ended March 31, 2024. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

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Source: SEC EDGAR

accession 0001628280-24-023242

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