Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 373

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 373
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 income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on the difference between the financial statements and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize the benefits of tax-return positions in the financial statements when they are more likely than not to be sustained by the taxing authority, based on the technical merits at the reporting date. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments, and which may not accurately forecast actual outcomes. We recognize interest and penalties related to unrecognized tax benefits, if any, as income tax expense.

Results of Operations

The following table sets forth our results of operations for each period presented:

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenue, net$43,734 $48,280 $131,307 $153,924 Cost of goods sold20,412 22,678 60,526 70,519 Gross profit23,322 25,602 70,781 83,405 Operating expenses:Advertising3,154 2,820 8,683 7,312 Product development1,626 4,802 5,612 13,864 Selling, general and administrative21,273 24,726 66,215 76,444 Operating loss(2,731)(6,746)(9,729)(14,215)Non-operating expenses (income):Interest expense 292 2,942 943 11,188 Changes in fair value of derivative liabilities25 (7,813)(189)(8,019)Other income, net (94)(550)(375)(2,627)Total non-operating expenses (income), net223 (5,421)379 542 Loss before provision for income taxes(2,954)(1,325)(10,108)(14,757)Provision for income taxes6 11 25 31 Net loss$(2,960)$(1,336)$(10,133)$(14,788)

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The following table sets forth our statements of operations data expressed as a percentage of revenue:

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenue, net100 %100 %100 %100 %Cost of goods sold47 47