Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 161

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 161
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10,133)$(14,788)

36

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

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenue, net100 %100 %100 %100 %Cost of goods sold47 47 46 46 Gross profit53 53 54 54 Operating expenses:Advertising7 6 7 5 Product development4 10 4 9 Selling, general and administrative49 51 50 50 Operating loss(6)(14)(7)(9)Non-operating expenses (income):Interest expense 1 6 1 7 Changes in fair value of derivative liabilities— (16)— (5)Other income, net — (1)— (2)Total non-operating expenses (income), net1 (11)— — Loss before provision for income taxes(7)(3)(8)(10)Provision for income taxes— — — — Net loss(7)%(3)%(8)%(10)%

Comparisons of the Three and Nine Months Ended September 30, 2025 and 2024

Revenue, Net

Three Months EndedSeptember 30,Change Nine Months EndedSeptember 30,Change20252024Amount %20252024Amount%(in thousands, except percentages)Revenue, net:Grove Brand$17,518 $18,606 $(1,088)(6)%$52,956 $63,090 $(10,134)(16)%Third-party product26,216 29,674 (3,458)(12)78,351 90,834 (12,483)(14)Total revenue, net$43,734 $48,280 $(4,546)(9)%$131,307 $153,924 $(22,617)(15)%

Revenue decreased by $4.5 million, or 9%, and $22.6 million, or 15%, for the three and nine months ended September 30, 2025, respectively, as compared to the three and nine months ended September 30, 2024, respectively. This decline was primarily driven by a decrease in DTC Total Orders from lower advertising expenses in previous periods and temporary disruptions related to the migration from our internally developed legacy ecommerce platform to third party service providers for both the