secwatch.observer — SEC 8-K summary
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Issuer:     Grove Collaborative Holdings, Inc. (GROV)
CIK:        0001841761
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001841761-23-000003
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/0001841761-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841761/000184176123000003/grov-20230310.htm
  HTML page:      https://secwatch.observer/filing/0001841761-23-000003

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