Grove Collaborative Holdings, Inc. Earnings Per Share Disclosure
| Year Ended December 31, | ||||||||||||||
2024 | 2023 | |||||||||||||
Net loss, basic and diluted | $ | (27,423) | $ | (43,232) | ||||||||||
| Less: Accretion on Series A preferred stock | — | (957) | ||||||||||||
| Less: Accumulated dividends on redeemable convertible preferred stock | (849) | (233) | ||||||||||||
| Net loss attributable to common stockholders, basic and diluted | $ | (28,272) | $ | (44,422) | ||||||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.76) | $ | (1.28) | ||||||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 37,040,375 | 34,797,582 | ||||||||||||
| Year Ended December 31, | |||||||||||
| 2024 | 2023 | ||||||||||
| Redeemable Convertible Preferred Stock | 12,500,097 | 4,739,336 | |||||||||
| Common stock options | 1,707,450 | 1,894,303 | |||||||||
| Restricted stock units | 4,657,655 | 4,712,855 | |||||||||
| Common stock warrants | 473,895 | 2,598,554 | |||||||||
| Private and Public Placement Warrants | 2,800,146 | 2,800,146 | |||||||||
| Earn-Out Shares | 2,602,412 | 2,602,554 | |||||||||
| ESPP Shares | 48,219 | 67,178 | |||||||||
| Total | 24,789,874 | 19,414,926 | |||||||||
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About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.