Grove Collaborative Holdings, Inc.

For the period ended Dec 31, 2024. Filed Mar 19, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 19, 2025

GROV$1.10+0.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Operations

Statements of Operations

(In thousands, except share and per share amounts)

	Year ended December 31,
	2024	2023
Revenue, net	$203,425	$259,278
Cost of goods sold	94,077	121,919
Gross profit	109,348	137,359
Operating expenses:
Advertising	10,265	21,292
Product development	18,456	16,401
Selling, general and administrative	103,174	134,929
Operating loss	(22,547)	(35,263)
Non-operating expenses:
Interest expense	12,777	16,077
Loss on extinguishment of debt	5,004	—
Changes in fair value of derivative liabilities	(9,888)	(216)
Other income, net	(3,057)	(7,930)
Total non-operating expenses, net	4,836	7,931
Loss before provision for income taxes	(27,383)	(43,194)
Provision for income taxes	40	38
Net loss	$(27,423)	$(43,232)
Less: Accretion on Series A Preferred Stock	—	(957)
Less: Accumulated dividends on redeemable convertible preferred stock	(849)	(233)
Net loss attributable to common stockholders, basic and diluted	$(28,272)	$(44,422)
Net loss per share attributable to common stockholders, basic and diluted	$(0.76)	$(1.28)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	37,040,375	34,797,582

Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)

(in thousands)

Redeemable Convertible Preferred Stock · Common Stock · AdditionalPaid-InCapital · AccumulatedDeficit · TotalStockholders’ Equity (Deficit)
Shares · Amount · Shares · Amount
Balances as of December 31, 2022	—	$—	35,571	$4		$604,387		$(577,858)		$26,533
Issuance of Series A redeemable convertible preferred stock, net of issuance costs	10	9,044	—	—	—		—		—
Issuance of common stock warrants, net of issuance costs	—	—	—	—	644		—		644
Accretion on Series A redeemable convertible preferred stock	—	956	—	—	(956)		—		(956)
Issuance of shares to settle HGI Additional Shares liability, net of issuance costs	—	—	714	—	1,407		—		1,407
Issuance of common stock upon exercise of stock options	—	—	38	—	71		—		71
Shares issued in connection with the Employee Stock Purchase Plan	—	—	263	—	482		—		482
Cancellation of Earn-Out Shares	—	—	(197)	—	—		—		—
Reduction in Transaction Costs	—	—	—	—	9,609		—		9,609
Short swing payment	—	—	—	—	11		—		11
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	—	—	1,519	—	(2,153)		—		(2,153)
Stock-based compensation	—	—	—	—	15,706		—		15,706
Net loss	—	—	—	—	—		(43,232)		(43,232)
Balances as of December 31, 2023	10	$10,000	37,908	$4		$629,208		$(621,090)		$8,122
Issuance of Series A' Preferred Stock, net of issuance costs	15	14,772	—	—	—		—		—
Cancellation of Volition Warrants	—	—	—	—	(300)		—		(300)
Issuance of common stock upon exercise of stock options	—	—	7	—	6		—		6
Shares issued in connection with the Employee Stock Purchase Plan	—	—	279	—	363		—		363
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings	—	—	1,591	—	(1,372)		—		(1,372)
Stock-based compensation	—	—	—	—	12,055		—		12,055
Net loss	—	—	—	—	—		(27,423)		(27,423)
Balances as of December 31, 2024	25	$24,772	39,785	$4		$639,960		$(648,513)		$(8,549)

Consolidated Statements of

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.