Grove Q3 revenue $48.3M, net loss $1.3M; exits brick & mortar, revises FY guide to $200-205M

Grove Collaborative Holdings, Inc.

2024-Q3 EPS reported -$0.41 revenue$153,924,000

Revenue $48.3M, down 22% YoY; net loss $1.3M vs $9.8M loss YoY; Adj. EBITDA breakeven (0.1% margin).
Operating cash flow positive $0.8M; narrowed loss driven by cost cuts and $2.2M restructuring in Q2.
Raised $15M PIPE from Volition Capital; plans to repay remaining $30M term debt by Nov 30, 2024.
Exiting brick & mortar retail (unprofitable, <4% revenue); focusing on DTC channels.
Revises FY2024 revenue guidance to $200-205M (from $205-215M); maintains Adj. EBITDA margin 0.5-1.5%.

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