secwatch.observer — SEC 8-K summary
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Issuer:     Grove Collaborative Holdings, Inc. (GROV)
CIK:        0001841761
Form:       8-K/A
Filed at:   2022-08-22T23:59:59+00:00
Accession:  0001841761-22-000019
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grove corrects EPS overstatement for Q2/6M 2021; Q2 revenue $79.3M, margins improve; raises FY guidance
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- Corrected prior-period misstatement: net loss per share overstated by $0.59 (Q2 2021) and $0.96 (6M 2021) due to weighted-average shares error.
- Q2 2022 net revenue $79.3M, down 20% YoY and 12% sequentially; gross margin 49.1%, up 190 bps vs Q1 2022.
- Net loss margin improved to (44.5)% from (52.4)% in Q1 2022; Adjusted EBITDA margin improved to (26.6)% from (43.8)%.
- Full-year guidance raised (not detailed in excerpt).
- Error had no impact on cash balances, net loss, or operating cash flows for affected periods.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841761/000184176122000019/0001841761-22-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841761/000184176122000019/grov-20220811.htm
  HTML page:      https://secwatch.observer/filing/0001841761-22-000019

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