Company: GROVW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025541
Chunk: 131

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 131
---
Table of Contents

Item 1. Financial Statements

 Grove Collaborative Holdings, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands, except share and per share amounts)March 31,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents $9,605 $19,627 Restricted cash, current2,900 3,675 Inventory22,039 19,351 Prepaid expenses and other current assets3,609 2,288 Total current assets38,153 44,941 Restricted cash, noncurrent1,002 1,002 Property and equipment, net3,885 3,677 Intangible assets, net2,644 712 Operating lease right-of-use assets12,025 12,532 Other long-term assets2,129 2,146 Total assets$59,838 $65,010 Liabilities and Stockholders’ DeficitCurrent liabilities:Accounts payable$8,392 $6,800 Accrued expenses8,813 11,546 Deferred revenue5,820 6,340 Operating lease liabilities, current1,992 1,636 Other current liabilities793 742 Total current liabilities25,810 27,064 Debt, noncurrent7,500 7,500 Operating lease liabilities, noncurrent12,274 12,949 Derivative liabilities1,130 1,274 Total liabilities46,714 48,787 Commitments and contingencies (Note 7)Redeemable convertible preferred stock, $0.0001 par value — 100,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 25,000 shares issued and outstanding as of March 31, 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 March 31, 2025 and December 31, 2024; 40,254,806 and 35,871,574 Class A shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively;  200,000,000 Class B shares authorized as of March 31, 2025 and December 31, 2024; None