Company: GROVW
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001628280-25-013839
Chunk: 156

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 8
Chunk 156
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 ended December 31, 2024 and 2023 was $9.1 million and $6.6 million, respectively, which was included in net cash used in operating activities in the Company’s consolidated statements of cash flows. The Company obtained $6.5 million and $2.4 million of new operating lease right-of-use assets obtained in exchange for new operating lease liabilities during the year ended December 31, 2024 and 2023, respectively. Maturities of operating lease liabilities were as follows (in thousands):  Year Ended December 31,OperatingLease 2025$3,921 20264,760 20274,637 20283,205 20291,870 Thereafter3,759 Total undiscounted lease payments22,152 Less: Imputed interest(7,567)Present value of lease liabilities14,585 Less: Operating lease liabilities, current(1,636)Operating lease liabilities, noncurrent$12,949 

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Table of ContentsGrove Collaborative Holdings, Inc.Notes to Consolidated Financial Statements (continued)

The following table summarizes additional information related to operating leases for the periods indicated:December 31,20242023Weighted-average remaining lease term:5.2 years3.8 yearsWeighted-average discount rate:16.9 %15.5 %Impairment

The Company recorded $1.3 million of impairment charges related to the Company’s leases during the year ended December 31, 2024. During the year ended December 31, 2023, the Company recorded $2.3 million of impairment charges on its operating lease right-of-use assets related to the Company’s corporate office space located in San Francisco, California with the impairment expense being recorded within selling, general, and administrative on the consolidated statements of operations. The Company applied a discounted cash flow method to estimate fair values of its leasehold improvements and right-of-use assets to estimate the fair value of these assets. These represented level 3 nonrecurring fair value measurements. 

8. Segments 

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The Company has determined that it operates in one operating segment as it only reports operating results on an aggregate basis to the CODM. Segment revenues are described in Note 2, Significant Accounting Policies. All company assets are located within the United States and all revenues are generated within the United States. All business activities are managed on a consolidated