Company: GROVW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025541
Chunk: 132

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 132
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 and 3,913,149 Class B shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively4 4 Additional paid-in capital640,408 639,960 Accumulated deficit(652,060)(648,513)Total stockholders’ deficit(11,648)(8,549)Total liabilities, redeemable convertible preferred stock and stockholders’ deficit$59,838 $65,010 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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Table of Contents

 Grove Collaborative Holdings, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except share and per share amounts)

Three Months EndedMarch 31,20252024Revenue, net$43,547 $53,545 Cost of goods sold20,483 23,805 Gross profit23,064 29,740 Operating expenses:Advertising2,807 2,053 Product development1,779 3,626 Selling, general and administrative21,986 24,594 Operating loss(3,508)(533)Non-operating expenses (income):Interest expense 346 4,129 Changes in fair value of derivative liabilities(144)(198)Other income, net (172)(1,083)Total non-operating expenses (income), net30 2,848 Loss before provision for income taxes(3,538)(3,381)Provision for income taxes9 10 Net loss$(3,547)$(3,391)Less: Accumulated dividends on redeemable convertible preferred stock(375)(150)Net loss attributable to common stockholders, basic and diluted$(3,922)$(3,541)Net loss per share attributable to common stockholders, basic and diluted$(0.10)$(0.10)Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted38,209,966 36,262,917 

The accompanying notes are an integral part of these condensed consolidated financial statements.

4

Grove Collaborative Holdings, Inc.

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock, Common Stock and Stockholders’ Equity (Deficit)

(Unaudited)

(In thousands)

Redeemable Convertible Preferred StockCommon StockAdditionalPaid-InCapitalAccumulated DeficitTotalStockholders’DeficitSharesAmountSharesAmountBalances as of December