Company: GROVW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025541
Chunk: 194

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 194
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ulfillment costs569 540 Sales taxes867 1,106 Other accrued expenses3,540 3,536 Total accrued expenses$8,813 $11,546 Intangible assets net consisted of the following (in thousands): March 31, 2025December 31, 2024Weighted- Average remaining useful life (years)Gross Carrying AmountAccumulated AmortizationIntangible Assets, NetWeighted- Average remaining useful life (years)Gross Carrying AmountAccumulated AmortizationIntangible Assets, NetCustomer relationships5$1,101 $(19)$1,082 $— $— $— Trademarks4.41,251 (345)906 2.1374 (318)56 Grove.com domain nameN/A656 656 N/A656 — 656 Intangible Assets, net$3,008 $(364)$2,644 $1,030 $(318)$712 The estimated annual amortization of intangible assets for the next five years is shown below (in thousands):AmountRemainder of 2025$342 2026404 2027400 2028393 2029386 Thereafter63 Total$1,988 

16

Table of ContentsGrove Collaborative Holdings, Inc.Notes to Condensed Consolidated Financial Statements (continued)(Unaudited)

6.    Debt 

Siena RevolverIn March 2023, the Company entered into a Loan and Security Agreement (the “Siena Revolver”) with Siena Lending Group, LLC (“Siena”) which permits the Company to receive funding through a revolving line of credit with an initial commitment of $35.0 million. The Company’s borrowing capacity under the Siena Revolver is subject to certain conditions, including the Company’s eligible inventory and accounts receivable balances among other limitations as specified in the agreement. In connection with this facility the Company incurred $1.1 million of debt issuance costs which have been included in other assets on the Company’s condensed consolidated balance sheet and being amortized through the Siena Revolver’s scheduled maturity date. On July 16, 2024, the Company entered into Amendment No. 1 to Siena Revolver (“Siena Amendment No. 1”). The Siena Amendment modified certain terms related to how the Company’s available borrowing capacity is determined and when appraisals are required. The