Company: GROVW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038957
Chunk: 291

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 291
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 decreased by $0.7 million related to the asset impairment in June 2024. These decreases were offset by a $0.7 million increase in certain fees and expenses to support our acquisitions.

Selling, general and administrative expenses decreased by $6.8 million, or 13%, for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. Fulfillment costs decreased by $3.1 million due to a lower volume of orders. Additionally, stock-based compensation decreased by $3.8 million and corporate salaries decreased by 

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$0.7 million both driven by reductions in headcount. Depreciation expense decreased by $1.8 million primarily due to accelerated depreciation associated with the closure of our Missouri facility in the prior period that did not recur in the current period, and asset impairment charges decreased by $0.7 million related to the asset impairment in June 2024. These decreases were offset by the absence of a $3.1 million gain recorded in the prior period related to a partial lease termination of our San Francisco office that occurred in March 2024 and a $1.3 million increase in certain fees and expenses to support our acquisitions.

Interest expense

Three Months EndedJune 30,Change Six Months EndedJune 30,Change20252024Amount %20252024Amount%(in thousands, except percentages)Interest expense$305 $4,117 $(3,812)(93)%$651 $8,246 $(7,595)(92)%

Interest expense decreased by $3.8 million, or 93%, and $7.6 million, or 92%, for the three and six months ended June 30, 2025, respectively, as compared to the three and six months ended June 30, 2024 primarily due to the extinguishment of our term debt facility in 2024.

Non-operating income, net

Three Months EndedJune 30,Change Six Months EndedJune 30,Change20252024Amount %20252024Amount%(in thousands, except percentages)Changes in fair value of derivative liabilities$(70)$(8)$(62)**$(214)$(206)$(8)**Other income, net (109)(994)885 (89)%(281)(2,077)1,796 (86)%

**Change not meaningful

The change in the fair value of derivative liabilities for the three and six months ended June 30