Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 288

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 288
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 expressed as a percentage of revenue:

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Revenue, net100 %100 %100 %100 %Cost of goods sold45 46 46 45 Gross profit55 54 54 55 Operating expenses:Advertising6 5 6 4 Product development5 10 5 9 Selling, general and administrative52 52 51 49 Operating loss(8)(13)(8)(7)Non-operating expenses (income):Interest expense 1 8 1 8 Changes in fair value of derivative liabilities— — — — Other income, net — (2)— (2)Total non-operating expenses (income), net— 6 — 6 Loss before provision for income taxes(8)(19)(8)(13)Provision for income taxes— — — — Net loss(8)%(19)%(8)%(13)%

Comparisons of the Three and Six Months Ended June 30, 2025 and 2024

Revenue, Net

Three Months EndedJune 30,Change Six Months EndedJune 30,Change20252024Amount %20252024Amount%(in thousands, except percentages)Revenue, net:Grove Brand$17,825 $21,438 $(3,613)(17)%$35,438 $44,484 $(9,046)(20)%Third-party product26,201 30,661 (4,460)(15)52,135 61,160 (9,025)(15)Total revenue, net$44,026 $52,099 $(8,073)(15)%$87,573 $105,644 $(18,071)(17)%

Revenue decreased by $8.1 million, or 15%, and $18.1 million, or 17%, for the three and six months ended June 30, 2025, respectively, as compared to the three and six months ended June 30, 2024. This decline was primarily driven by a decrease in DTC Total Orders from lower advertising expenses in previous periods, temporary disruptions related to the migration from our internally developed legacy ecommerce platform to third party service providers and decreases in DTC Net Revenue Per Order.

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Cost of Goods Sold and Gross Profit

Three Months EndedJune 30,