Grove Collaborative Q1 net revenue $71.6M, record gross margin 52.1%, raises FY adjusted EBITDA margin guidance

Grove Collaborative Holdings, Inc.

2023-Q1 EPS reported -$0.08 revenue$71,565,000

Net revenue $71.6M, down 20.9% YoY; gross margin record 52.1%, up 480 bps YoY.
Adjusted EBITDA margin (9.6%), improved 330 bps QoQ and 3,420 bps YoY; expects near break-even in Q3.
Raises FY 2023 adjusted EBITDA margin guidance to (5.5%)-(7.5%) from (9%)-(11%); revenue guidance unchanged at $260-270M.
Secured $35M asset-based revolving credit facility to support working capital and strategic initiatives.
DTC active customers 1.24M, down 25% YoY; DTC net revenue per order $61.64, up 12% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Grove Collaborative Holdings, Inc. reported first fiscal quarter ended March 31, 2023 results: revenue $71.6 million. Guidance raised.

Period: first fiscal quarter ended March 31, 2023
Revenue: $71.6 million
Guidance: raised
Result: reported results

Exact text from the filing

focus on profitability in the second half of 2022, we believe that our sequential quarterly results are the best indicator of our current financial performance. ● Net revenue of $71.6 million, down 3.3% from the fourth quarter of 2022, and down 20.9% year-over-year, largely due to reductions in advertising spend as we focus on profitability. ● Gross margin of 52.1%, a

View on SEC.gov

3 earnings releases filed in the last 30 days. Browse all earnings releases →

Grove Collaborative Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001841761-23-000045

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.