Company: GROVW
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001628280-25-013839
Chunk: 157

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 8
Chunk 157
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 basis.The CODM uses net loss as reported in the consolidated statements of operations to evaluate the Company’s return on assets in deciding whether and how to invest into the Company’s consolidated operations, such as to expand its product offerings or increase advertising expenditures. The CODM reviews segment assets as presented on its consolidated balance sheets.The Company does not have intra-entity sales or transfers.The accounting policies of the segment is identical to those described in Note 2, Significant Accounting Policies.

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

Presented in the table below is segment information for the year ended December 31, 2024 (with retrospective presentation for comparative period) and a reconciliation of segment information, including significant expenses, to consolidated net loss (in thousands):Year Ended December 31,20242023Segment Revenue, Significant Expenses and Net Loss:Total revenue, net$203,425 $259,278 Cost of goods sold94,077 121,919 Gross profit109,348 137,359 Less significant expenses:Fulfillment costs45,195 58,777 Advertising10,265 21,292 Product development and other selling, general and administrative expenses(1)54,619 71,216 Less other segment items:Interest income(3,056)(3,773)Other segment items(2)29,748 33,079 Consolidated net loss$(27,423)$(43,232)(1)Includes all product development and selling, general and administrative expenses, excluding fulfillment costs, stock-based compensation and depreciation and amortization.(2)Includes stock-based compensation, depreciation and amortization and all non-operating expenses, except interest income.

9.    Redeemable Convertible Preferred Stock 

On August 11, 2023 (the “Series A Preferred Stock Closing Date”), the Company entered into a subscription agreement (the “Series A Preferred Stock Subscription Agreement”) with Volition Capital Fund IV, L.P. (“Volition”) where the Company received gross proceeds of $10.0 million in exchange for 10,000 shares of the Company’s Series A Redeemable Convertible Preferred Stock (the “Series A Preferred Stock”), the issuance of a warrant to purchase 1,579,778 shares of Grove’s Class A common stock at an exercise price of $6.33 per share (the “Volition Warrant”) and the issuance of a separate warrant to Volition to purchase 20