Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 0

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item 1. Financial Statements

 Grove Collaborative Holdings, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands, except share and per share amounts)June 30,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents $10,049 $19,627 Restricted cash, current2,900 3,675 Inventory20,734 19,351 Prepaid expenses and other current assets3,113 2,288 Total current assets36,796 44,941 Restricted cash, noncurrent1,002 1,002 Property and equipment, net3,935 3,677 Intangible assets, net2,522 712 Operating lease right-of-use assets11,500 12,532 Other long-term assets2,071 2,146 Total assets$57,826 $65,010 Liabilities and Stockholders’ DeficitCurrent liabilities:Accounts payable$6,292 $6,800 Accrued expenses11,444 11,546 Deferred revenue5,991 6,340 Debt, current700 — Operating lease liabilities, current2,607 1,636 Other current liabilities597 742 Total current liabilities27,631 27,064 Debt, noncurrent6,800 7,500 Operating lease liabilities, noncurrent11,571 12,949 Derivative liabilities1,060 1,274 Total liabilities47,062 48,787 Commitments and contingencies (Note 7)Redeemable convertible preferred stock, $0.0001 par value — 100,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 25,000 shares issued and outstanding as of June 30, 2025 and December 31, 202424,772 24,772 Stockholders’ deficit:Common stock, $0.0001 par value — 600,000,000 Class A shares authorized as of June 30, 2025 and December 31, 2024; 41,002,440 and 35,871,574 Class A shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively; No shares and 200,000,000 Class B shares authorized as of June 30, 2025 and December 31