Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 286

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 286
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ed EBITDA in evaluating our operating performance and resource allocation and forecasting. As such, we believe Adjusted EBITDA provides investors with additional useful information in evaluating our performance.

We calculate Adjusted EBITDA as net loss, adjusted to exclude: stock-based compensation expense; depreciation and amortization; changes in fair values of derivative liabilities; interest income; interest expense; restructuring and severance related costs; transaction related costs related to certain strategic merger & acquisition projects; provision for income taxes and certain litigation and legal settlement expenses. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by net revenue. Because Adjusted EBITDA excludes these elements that are otherwise included in our GAAP financial results, this measure has limitations when compared to net loss determined in accordance with GAAP. Further, Adjusted EBITDA is not necessarily comparable to similarly titled measures used by other companies. For these reasons, investors should not consider Adjusted EBITDA in isolation from, or as a substitute for, net loss determined in accordance with GAAP.

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The following table presents a reconciliation of net loss, the most directly comparable financial measure stated in accordance with GAAP, to Adjusted EBITDA, for each of the periods presented.

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Reconciliation of Net Loss to Adjusted EBITDA(in thousands, except percentages)Net loss$(2,960)$(1,336)$(10,133)$(14,788)Stock-based compensation1,109 2,758 3,456 9,268 Depreciation and amortization421 2,774 1,287 7,401 Changes in fair value of derivative liabilities25 (7,813)(189)(8,019)Interest income(94)(549)(375)(2,628)Interest expense292 2,942 943 11,188 Restructuring and severance related costs(1)— 1,181 — 466 Transaction related costs (2)— — 1,275 — Provision for income taxes6 11 25 31 Total Adjusted EBITDA$(1,201)$(32)$(3,711)$2,919 Net loss margin(6.8)%(2.8)%(7.7)%(9.6)%Adjusted EBITDA margin (loss)(2.7)%(0.1)%(2.8