Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 373

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 373
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 of fiscal year 2024, a $1.1 million decrease in severance-related expenses and a $0.8 million decrease in salaries from reductions in headcount.

Product development expenses decreased by $5.1 million, or 56%, for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024, primarily due to a $2.2 million decrease in amortization expenses related to certain internally developed software which was fully amortized at the end of fiscal year 2024, a $1.9 million decrease in salaries and stock based compensation from reductions in headcount and a $1.1 million decrease in severance-related expenses.

Selling, General and Administrative Expenses

Three Months EndedJune 30,Change Six Months EndedJune 30,Change20252024Amount %20252024Amount%(in thousands, except percentages)Selling, general and administrative$22,956 $27,124 $(4,168)(15)%$44,942 $51,718 $(6,776)(13)%

Selling, general and administrative expenses decreased by $4.2 million, or 15%, for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024. Fulfillment costs decreased by $1.0 million due to a lower volume of orders. Additionally, stock-based compensation decreased by $1.9 million and corporate salaries decreased by $0.3 million both driven by reductions in headcount, depreciation expense decreased by $0.7 million primarily due to accelerated depreciation associated with the closure of our Missouri facility in the prior period that did not recur in the current period, and asset impairment charges decreased by $0.7 million related to the asset impairment in June 2024. These decreases were offset by a $0.7 million increase in certain fees and expenses to support our acquisitions.

Selling, general and administrative expenses decreased by $6.8 million, or 13%, for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. Fulfillment costs decreased by $3.1 million due to a lower volume of orders. Additionally, stock-based compensation decreased by $3.8 million and corporate salaries decreased by 

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$0.7 million both driven by reductions in headcount. Depreciation expense decreased by $1.8 million primarily due to accelerated