Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 370

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 370
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 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)%1.9 %

(1)Restructuring expenses for the three months ended September 30, 2024 consisted solely of costs related to the move to a new distribution facility in Nevada. Restructuring expenses for the nine months ended September 30, 2024 consisted of a $3.1 million gain from the modification of our lease at our San Francisco headquarters offset by $1.5 million in severance-related charges and $2.1 million of costs related to the closure of our facility in Missouri and our move to a new distribution facility in Nevada.

(2) Transaction related costs are costs and expenses primarily associated with the acquisition of Grab Green and the acquisition of 8Greens. These costs include costs of integrating the businesses and costs for third-party legal, accounting, consulting and other similar type professional services. These costs are considered incremental to our normal operating charges and were incurred solely as a result of the transactions.

Components of Results of Operations

Revenue, Net

We generate revenue primarily from the sale of both third-party and our Grove Brands products through our DTC platform. Customers purchase products through our