Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 297

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 297
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5 was primarily attributable to our net loss of $7.2 million, non-cash adjustments of $2.9 million, and a net increase in our operating assets and liabilities of $1.6 million. Non-cash adjustments consisted primarily of a $2.3 million stock-based compensation expense, $0.9 million in depreciation and amortization and $0.2 million in non-cash interest expense, offset by $0.4 million of inventory write-downs and a $0.2 million of change in fair value of derivative liabilities. The change in operating assets and liabilities primarily resulted from a $3.0 million decrease in accrued expenses and accounts payable, a $0.3 million decrease in deferred revenue and a $0.3 million decrease in other liabilities, offset by a $1.0 million decrease in inventory, a $0.6 million net decrease in operating lease right-of-use assets and liabilities and a $0.4 million decrease in prepaid expenses and other assets.

Net cash used in operating activities of $10.8 million for the six months ended June 30, 2024 was primarily attributable to our net loss of $13.5 million, non-cash adjustments of $9.2 million, and net increase in our operating assets and liabilities of $6.5 million. Non-cash adjustments consisted primarily of a $6.5 million stock-based compensation expense, $4.6 million in depreciation and amortization activity, $1.9 million non-cash interest expense, and $0.7 million in asset impairment charges, offset by a $3.1 million gain on lease modification, $1.2 million of inventory write-downs and $0.2 million of change in fair value of derivative liabilities. The change in operating assets and liabilities primarily resulted from a $4.9 million net decrease in operating lease right-of-use assets and liabilities, a $3.5 million net decrease in accounts payable and accrued expenses, and a $0.4 million decrease in deferred revenue and other liabilities, offset by a $2.2 million decrease in inventory and $0.1 million increase in prepaid expenses and other assets.

Investing Activities

Net cash used in investing activities of $3.8 million for the six months ended June 30, 2025 was primarily due to $2.8 million of cash paid for strategic acquisitions and $1.0 million for the purchase of property and equipment.

Net cash used in investing activities of $0.9 million for the six