Company: GROVW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025541
Chunk: 366

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 366
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The following table summarizes our cash flows for the periods presented:

Three Months Ended March 31,20252024Change(in thousands)Net cash used in operating activities$(6,872)$(12,380)(44.5)%Net cash used in investing activities(3,389)(518)554.2 %Net cash used in financing activities(536)(381)40.7 %Net decrease in cash, cash equivalents and restricted cash$(10,797)$(13,279)

Operating Activities 

Net cash used in operating activities of $6.9 million for the three months ended March 31, 2025 was primarily attributable to our net loss of $3.5 million, non-cash adjustments of $1.2 million, and net increase in our operating assets and liabilities of $4.6 million. Non-cash adjustments consisted primarily of a $1.0 million stock-based compensation 

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expense, $0.4 million in depreciation and amortization and $0.1 million in non-cash interest expense, partially offset by $0.1 million of inventory write-downs and a $0.1 million of change in fair value of derivative liabilities. The change in operating assets and liabilities primarily resulted from a $3.5 million decrease in accrued expenses and accounts payable, a $0.5 million increase in inventory and a $0.5 million decrease in deferred revenue. 

Net cash used in operating activities of $12.4 million for the three months ended March 31, 2024 was primarily attributable to our net loss of $3.4 million, non-cash adjustments of $2.4 million, and net increase in our operating assets and liabilities of $11.4 million. Non-cash adjustments consisted primarily of a $3.1 million stock-based compensation expense, $2.2 million in depreciation and amortization activity, and $1.0 million non-cash interest expense, partially offset by a $3.1 million in gain on lease modification and $0.5 million of inventory write-downs. The change in operating assets and liabilities primarily resulted from a $2.2 million increase in inventory and a $4.0 million net decrease in accounts payable and accrued expenses, a $0.6 million decrease in deferred revenue and a $4.9 million net decrease in operating lease right-of-use assets and liabilities.

Investing Activities

Net cash used in investing activities of $3.4 million for the three months ended March 31, 202