Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 43

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments, and which may not accurately forecast actual outcomes. We recognize interest and penalties related to unrecognized tax benefits, if any, as income tax expense.

Results of Operations

The following table sets forth our results of operations for each period presented:

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Revenue, net$44,026 $52,099 $87,573 $105,644 Cost of goods sold19,631 24,036 40,114 47,841 Gross profit24,395 28,063 47,459 57,803 Operating expenses:Advertising2,722 2,439 5,529 4,492 Product development2,207 5,436 3,986 9,062 Selling, general and administrative22,956 27,124 44,942 51,718 Operating loss(3,490)(6,936)(6,998)(7,469)Non-operating expenses (income):Interest expense 305 4,117 651 8,246 Changes in fair value of derivative liabilities(70)(8)(214)(206)Other income, net (109)(994)(281)(2,077)Total non-operating expenses (income), net126 3,115 156 5,963 Loss before provision for income taxes(3,616)(10,051)(7,154)(13,432)Provision for income taxes10 10 19 20 Net loss$(3,626)$(10,061)$(7,173)$(13,452)

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The following table sets forth our statements of operations data expressed as a percentage of revenue:

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Revenue, net100 %100 %100 %100 %Cost of goods sold45 46 46 45 Gross profit55 54 54 55 Operating expenses:Advertising6 5 6 4 Product development5 10 5 9 Selling, general and administrative52 52 51 49 Operating loss(8)(13)(8)(7)Non-operating expenses (income):Interest expense 1 8 1 8 Changes in fair value of derivative liabilities— — —