Company: GROVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001841761-25-000048
Chunk: 383

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 383
---
 decrease in deferred revenue and a $0.2 million decrease in other liabilities, offset by a $2.0 million decrease in inventory, a $1.0 million decrease in prepaid expenses and other assets and a $0.6 million net decrease in operating lease right-of-use assets and liabilities.

Net cash used in operating activities of $10.0 million for the nine months ended September 30, 2024 was primarily attributable to our net loss of $14.8 million, non-cash adjustments of $7.0 million, and net increase in our operating assets and liabilities of $2.2 million. Non-cash adjustments consisted primarily of a $9.3 million stock-based compensation expense, $7.4 million in depreciation and amortization activity, $2.8 million non-cash interest expense, partially offset by a $3.1 million gain on lease modification and $1.9 million of inventory write-downs. The change in operating assets and liabilities primarily resulted from a $4.7 million net decrease in operating lease right-of-use assets and liabilities, a $3.7 million net decrease in accounts payable and accrued expenses, and a $0.4 million decrease in deferred revenue and other liabilities, partially offset by a $6.1 million decrease in inventory.

Investing Activities

Net cash used in investing activities of $4.0 million for the nine months ended September 30, 2025 was primarily due to $2.8 million of cash paid for strategic acquisitions and $1.1 million for the purchase of property and equipment.

Net cash used in investing activities of $1.3 million for the nine months ended September 30, 2024 was primarily due to the capitalization of internally developed software costs, partially offset by proceeds from sale of property and equipment.

Financing Activities 

Net cash used in financing activities of $1.1 million for the nine months ended September 30, 2025 primarily consists of payments related to stock-based award activities during each period offset by proceeds related to our employee stock purchase plan.

Net cash used in financing activities of $28.0 million for the nine months ended September 30, 2024 primarily consists of a payment on the outstanding principal balance of the Structural Debt Facility of $42.0 million partially offset by gross proceeds of $15.0 million received in exchange for 15,000 shares of the Company’s Series A Preferred Stock.

43

Off-Balance Sheet Arrangements

We do not have any off-balance sheet