Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 294

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 294
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$(8,019)$7,830 **Other income, net (94)(550)456 (83)%(375)(2,627)2,252 (86)%

**Change not meaningful

The change in the fair value of derivative liabilities for the three and nine months ended September 30, 2025, was driven by the changes in our stock price from December 31, 2024 through September 30, 2025. The change in the fair value of derivative liabilities for the three and nine months ended September 30, 2024, was driven by the changes in our stock price from December 31, 2023 through September 30, 2024 and by changes in the fair value of the Structural Derivative Liability related to our term loan we extinguished in 2024.

Other income decreased by $0.5 million, or 83%, and $2.3 million, or 86%, for the three and nine months ended September 30, 2025, respectively, as compared to the three and nine months ended September 30, 2024, primarily due to lower on-hand cash as a result of the extinguishment of our term loan in 2024.

40

Liquidity, Capital Resources and Requirements

As of September 30, 2025, we had $8.9 million in unrestricted cash and cash equivalents (which excludes restricted cash of $3.4 million). We incurred negative cash flows from operating activities of $6.9 million for the nine months ended September 30, 2025. We have incurred significant losses since inception and have an accumulated deficit of approximately $658.6 million. To date, we have funded our operations principally through redeemable convertible preferred stock and common stock financings, the incurrence of debt and the closing of the Business Combination. We have total outstanding indebtedness of $7.5 million as of September 30, 2025.

On August 11, 2023 (the “Series A Preferred Stock Closing Date”), we entered into a subscription agreement with Volition Capital Fund IV, L.P. (“Volition”) and received gross proceeds of $10.0 million in exchange for 10,000 shares of our Series A Redeemable Convertible Preferred Stock (the “Series A Preferred Stock”), a warrant to purchase 1,579,778 shares of our Class A common stock at an exercise price of $6.33 (the “Volition Warrants”) and