Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 53

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 decrease in deferred revenue and a $0.3 million decrease in other liabilities, offset by a $1.0 million decrease in inventory, a $0.6 million net decrease in operating lease right-of-use assets and liabilities and a $0.4 million decrease in prepaid expenses and other assets.

Net cash used in operating activities of $10.8 million for the six months ended June 30, 2024 was primarily attributable to our net loss of $13.5 million, non-cash adjustments of $9.2 million, and net increase in our operating assets and liabilities of $6.5 million. Non-cash adjustments consisted primarily of a $6.5 million stock-based compensation expense, $4.6 million in depreciation and amortization activity, $1.9 million non-cash interest expense, and $0.7 million in asset impairment charges, offset by a $3.1 million gain on lease modification, $1.2 million of inventory write-downs and $0.2 million of change in fair value of derivative liabilities. The change in operating assets and liabilities primarily resulted from a $4.9 million net decrease in operating lease right-of-use assets and liabilities, a $3.5 million net decrease in accounts payable and accrued expenses, and a $0.4 million decrease in deferred revenue and other liabilities, offset by a $2.2 million decrease in inventory and $0.1 million increase in prepaid expenses and other assets.

Investing Activities

Net cash used in investing activities of $3.8 million for the six months ended June 30, 2025 was primarily due to $2.8 million of cash paid for strategic acquisitions and $1.0 million for the purchase of property and equipment.

Net cash used in investing activities of $0.9 million for the six months ended June 30, 2024 was primarily due to the capitalization of internally developed software costs.

Financing Activities 

Net cash used in financing activities of $0.6 million for each of the six months ended June 30, 2025 and 2024 primarily consists of payments related to stock-based award activities during each period offset by proceeds related to our employee stock purchase plan.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet financing arrangements, as defined in Item 303 of Regulation S-K, as of June 30, 2025.

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Critical Accounting Estimates

There have been no significant changes to our critical accounting policies since December 31