Grove Q2 revenue $79.3M, down 20% YoY; net loss margin improves QoQ; guides higher

Grove Collaborative Holdings, Inc.

2022-Q2 EPS reported -$3.86 revenue$169,758,000

Net revenue of $79.3M, down 12% QoQ and 20% YoY; gross margin 49.1% up 190 bps QoQ.
Net loss margin (44.5)% improved from (52.4)% Q1 but worse than (28.8)% a year ago.
Adjusted EBITDA margin (26.6)% improved from (43.8)% Q1; full-year guidance raised.
Company targets profitability in 2024 by eliminating unprofitable revenue and improving margins.

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