Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 266

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 266
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5, additional borrowing capacity from the Siena Revolver was $0.7 million. The Siena Revolver is the Company’s only debt facility as of September 30, 2025 and December 31, 2024. 

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

7.    Commitments and Contingencies

Merchandise Purchase CommitmentsAs of September 30, 2025 and December 31, 2024, the Company had obligations to purchase $10.8 million and $9.1 million, respectively, of merchandise. Letters of CreditThe Company had irrevocable standby letters of credit in the amount of $1.3 million and $2.1 million as of September 30, 2025 and December 31, 2024, respectively, primarily related to the Company’s operating leases. No amounts have been drawn related to these letters of credit. The letters of credit have expiration dates through 2029.Finance Agreement PayableIn July 2025, the Company entered into an agreement with a third party to finance certain insurance premiums over the 12 month policy. The amount financed is payable in 10 equal monthly installments, including interest, and matures in April 2026. Interest expense related to this agreement is not material, As of September 30, 2025, the outstanding balance owed by the Company was $0.5 million and included in other current liabilities on the Company’s condensed consolidated balance sheet.ContingenciesFrom time to time, the Company is subject to various claims, charges and litigation matters that arise in the ordinary course of business. The Company records a provision for a liability when it is both probable that the loss has been incurred and the amount of the loss can be reasonably estimated. If the Company determines that a loss is reasonably possible and the loss or range of loss can be reasonably estimated, it discloses the possible loss or range of loss. Any potential gains associated with legal matters are not recorded until the period in which all contingencies are resolved and the gain is realized or realizable. Depending on the nature and timing of any such proceedings that may arise, an unfavorable resolution of a matter could materially affect the Company’s future consolidated results of operations, cash flows or financial position in a particular period. Except if otherwise indicated, it is not reasonably possible to determine the probability of loss or estimate damages for any of the matters discussed below, and therefore