---
schema_version: "secwatch.filing_event.v1"
accession: "0001841761-23-000003"
form_type: "8-K"
ticker: "GROV"
cik: "0001841761"
company_name: "Grove Collaborative Holdings, Inc."
filed_at: "2023-03-14T23:59:59+00:00"
generated_at: "2026-06-18T03:53:43.566093+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Grove Q4 net revenue $74M (-15% YoY), net loss margin (17.1%); secures $35M credit facility

## Summary
- Q4 2022 net revenue $74.0M, down 15% YoY; gross margin 47.0% vs 45.0% prior year.
- Full year 2022 net revenue $321.5M, down 16% YoY; net loss margin improved to (27.3%) from (35.4%).
- Adjusted EBITDA margin Q4 (12.9%) improved 1,610 bps YoY; full year (24.8%) improved 350 bps.
- Entered $35.0M asset-based revolving credit facility with Siena Lending Group, maturing March 2026.
- Targeting profitability in 2024; DTC stabilization, health/wellness expansion, retail growth at Amazon and Walmart.

## SEC filing metadata
- accession: 0001841761-23-000003
- form_type: 8-K
- ticker: GROV
- cik: 0001841761
- company_name: Grove Collaborative Holdings, Inc.
- filed_at: 2023-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/0001841761-23-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/grov-20230310.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001841761-23-000003
- JSON: https://secwatch.observer/filing/0001841761-23-000003.json
- Plain text: https://secwatch.observer/filing/0001841761-23-000003.txt

## Key facts
- Debt Financings
  Grove Collaborative Holdings, Inc. incurred revolving credit of $35.0 million with Siena Lending Group LLC at base rate, plus an applicable margin, or Term SOFR rate then in effect, plus 0.1 maturing March 10, 2026.
  - Instrument: revolving credit
  - Principal: $35.0 million
  - Counterparty: Siena Lending Group LLC
  - Rate: base rate, plus an applicable margin, or Term SOFR rate then in effect, plus 0.1
  - Maturity: March 10, 2026
  - Event: incurrence
  source text: the Loan Agreement provides for a senior secured asset-based revolving credit facility with an initial commitment of $35.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/0001841761-23-000003-index.htm
- Earnings Releases
  Grove Collaborative Holdings, Inc. reported fourth quarter ended December 31, 2022 results: revenue $74.0 million.
  - Period: fourth quarter ended December 31, 2022
  - Revenue: $74.0 million
  - Result: reported results
  source text: Net revenue of $74.0 million, down 5% from the third quarter of 2022, and down 15% year-over-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/0001841761-23-000003-index.htm
- Earnings Releases
  Grove Collaborative Holdings, Inc. reported fiscal year ended December 31, 2022 results: revenue $321.5 million.
  - Period: fiscal year ended December 31, 2022
  - Revenue: $321.5 million
  - Result: reported results
  source text: Net revenue of $321.5 million, down 16% year-over-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/0001841761-23-000003-index.htm
- Material Agreements
  Grove Collaborative Holdings, Inc. entered into Loan and Security Agreement with Siena Lending Group LLC valued at $35,000,000 (effective 2023-03-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Siena Lending Group LLC
  - Value: $35,000,000
  - Effective: 2023-03-10
  source text: On March 10, 2023, Grove Collaborative Holdings, Inc., a Delaware public benefit corporation (“Holdings” or “the Company”) and Grove Collaborative, Inc., a Delaware public benefit corporation (“Grove”), as borrowers (Holdings and Grove, collectively, the “Borrowers”) entered into that certain Loan and Security Agreement (the “Loan Agreement”), among the Borrowers, each of the Subsidiaries of the Borrowers signatory thereto from time to time as guarantors and Siena Lending Group LLC, a Delaware limited liability company, as lender (in such capacity, the “Lender”). Among other things, the Loan Agreement provides for a senior secured asset-based revolving credit facility with an initial commitment of $35.0 million (the “Revolving Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/0001841761-23-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.