Grove Collaborative Holdings, Inc.

Listed Company

GROVCIK 0001841761NYSENon-AcceleratedSmaller ReportingEmerging GrowthRetail-Catalog & Mail-Order HousesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$173.72M

Net Income

$-11.72M

Total Assets

$53.09M

Equity

$-17.00M

Shares Out

42.02M

Op. Cash Flow

$-6.95M

Business

Grove Collaborative Holdings, Inc. is a sustainability-oriented consumer products company that creates and curates planet-first, high-performance brands and products. It sells Grove-owned brands (notably Grove Co.) and a curated portfolio of third-party natural household, beauty, personal care and wellness products vetted to strict sustainability and ingredient standards. Its operations focus on product development, its DTC platform (Grove Brands and third-party partnerships), and fulfillment and supply chain. Grove distributes primarily through its direct-to-consumer website and mobile app and other e-commerce channels, having wound down brick-and-mortar retail.

Summary from filing dated 2025-03-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue, net	174	203	259	322	384
Cost of goods sold	80	94	122	167	195
Gross profit	93	109	137	155	189
Advertising	10	10	21	66	107
Product development	7	18	16	23	23
Selling, general and administrative	87	103	135	207	187
Operating loss	−11	−23	−35	−141	−129
Interest expense	1	13	16	—	—
Loss on extinguishment of debt	0	5	0	5	1
Changes in fair value of derivative liabilities	−404,000	−10	−216,000	−72	0
Other income, net	−455,000	−3	−8	4	760,000
Total non-operating expenses, net	366,000	5	8	−53	7
Loss before provision for income taxes	−12	−27	−43	−88	−136
Provision for income taxes	33,000	40,000	38,000	54,000	52,000
Net loss	−12	−27	−43	−88	−136
Less: Accumulated dividends on redeemable convertible preferred stock	−2	−849,000	−233,000	0	0
Net loss per share attributable to common stockholders, basic	−13	−28	−44	−88	−136
Net loss per share attributable to common stockholders, diluted	−13	−28	−44	−88	−136
Net loss per share attributable to common stockholders, basic (in dollars per share)	−0.34	−0.76	−1.28	−4.85	−79.28
Net loss per share attributable to common stockholders, diluted (in dollars per share)	−0.34	−0.76	−1.28	−4.85	−79.28
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	39	37	35	18	2
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	39	37	35	18	2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	9	20	—	86	81
Restricted cash, current	2	4	—	6	12
Inventory	18	19	—	29	44
Prepaid expenses and other current assets	5	2	—	3	5
Total current assets	35	45	—	124	142
Restricted cash, noncurrent	1	1	—	3	3
Intangible assets, net	2	712,000	—	—	—
Property and equipment, net	4	4	—	12	15
Operating lease right-of-use assets	10	13	—	10	12
Other long-term assets	2	2	—	3	2
Total assets	53	65	—	151	174
Accounts payable	9	7	—	8	11
Accrued expenses	9	12	—	16	31
Deferred revenue	5	6	—	7	11
Debt, current	800,000	0	—	—	—
Operating lease liabilities, current	3	2	—	3	4
Other current liabilities	665,000	742,000	—	306,000	249,000
Total current liabilities	28	27	—	35	57
Derivative liabilities	871,000	1	—	12	13
Debt, noncurrent	7	8	—	72	61
Operating lease liabilities, noncurrent	10	13	—	14	16
Total liabilities	45	49	—	133	148
Commitments and contingencies (Note 7)	—	—	—	—	—
Redeemable convertible preferred stock, $0.0001 par value 100,000,000 shares authorized at December 31, 2025 and December 31, 2024; 25,000 shares issued and outstanding at December 31, 2025 and December 31, 2024	25	25	25	10	0
Common stock - Class A Common Stock, $0.0001 par value 600,000,000 shares authorized at December 31, 2025 and December 31, 2024; 41,796,921 and 35,871,574 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively; Class B Common Stock, $0.0001 par value Nil and 200,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; Nil and 3,913,149 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	4,000	4,000	—	4,000	4,000
Additional paid-in capital	643	640	—	629	604
Accumulated deficit	−660	−649	—	−621	−578
Total stockholders deficit	−17	−9	—	8	27
Total liabilities, redeemable convertible preferred stock and stockholders deficit	53	65	—	151	174

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gain on lease modification	0	−3	—	—	—
Stock-based compensation	4	12	16	46	15
Depreciation and amortization	2	10	6	6	5
Changes in fair value of derivative liabilities	−404,000	−10	−216,000	—	—
Non-cash interest expense	322,000	3	4	—	—
Asset impairment charges	915,000	1	2	5	0
Inventory write-downs	−328,000	−3	372,000	7	5
Other non-cash expenses (income)	6,000	−140,000	135,000	—	—
Inventory	3	12	15	3	−13
Prepaids and other assets	−1	569,000	2	3	−3
Accounts payable	−376,000	−1	−3	−11	−2
Accrued expenses	−2	−5	2	−5	−817,000
Deferred revenue	−1	−814,000	−4	−389,000	148,000
Operating lease right-of-use assets and liabilities	502,000	−4	−2	−130,000	65,000
Other liabilities	−445,000	436,000	57,000	−2	−774,000
Net cash used in operating activities	−7	−10	−8	−96	−127
Cash paid for acquisitions	−3	0	—	—	—
Proceeds from sale of property and equipment	15,000	136,000	0	—	—
Purchase of property and equipment	−1	−2	−3	−4	−6
Net cash used in investing activities	−4	−2	−3	−4	−6
Payment of issuance costs related to SEPA	−43,000	0	−5	−7	−1
Payment of debt issuance costs	0	−301,000	−925,000	−2	−375,000
Payment on finance agreement	−353,000	0	—	—	—
Repayment of debt and Structural Derivative Liability	0	−72	−575,000	—	—
Payment of costs to extinguish debt	−77,000	−24,000	0	−66	−2
Payment of transaction costs related to redeemable convertible preferred stock	0	15	—	—	—
Payment of transaction costs related to redeemable convertible preferred stock	0	−513,000	—	—	—
Payments related to stock-based award activities, net	−1	−1	−2	—	—
Proceeds from issuance under employee stock purchase plan	248,000	363,000	482,000	—	—
Payment of debt modification costs	−68,000	0	—	—	—
Net cash used in financing activities	−2	−59	10	118	35
Net decrease in cash, cash equivalents and restricted cash	−13	−71	−1	18	−98
Cash paid for taxes	34,000	49,000	43,000	67,000	52,000
Cash paid for interest	598,000	9	12	10	4
Purchase of property and equipment in accounts payable and accrued liabilities	184,000	4,000	21,000	85,000	112,000
Debt issuance costs in accounts payable and accrued liabilities	0	45,000	0	46,000	0
Cost of debt extinguishment in accrued liabilities	0	78,000	—	—	—
Financing agreement entered into for prepaid insurance	588,000	0	—	—	—
Redeemable convertible preferred stock issuance costs in accounts payable and accrued liabilities	0	15,000	—	—	—

Filings

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