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$1.04-5.5%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Cash Flows

(In thousands)

	Year Ended December 31,
	2024	2023
Cash Flows from Operating Activities
Net loss	$(27,423)	$(43,232)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on partial termination of lease	$(3,139)	$—
Stock-based compensation	11,995	15,513
Depreciation and amortization	9,821	5,824
Changes in fair value of derivative liabilities	(9,888)	(216)
Reduction of transaction costs allocated to derivative liabilities upon Business Combination	—	(3,745)
Non-cash interest expense	3,380	3,833
Asset impairment charges	1,260	2,495
Inventory reserve	(3,061)	372
Loss on extinguishment of debt	5,004	—
Other non-cash expenses (income)	(140)	135
Changes in operating assets and liabilities:
Inventory	12,486	14,984
Prepaids and other assets	569	1,672
Accounts payable	(1,274)	(2,574)
Accrued expenses	(4,612)	2,216
Deferred revenue	(814)	(3,724)
Operating lease right-of-use assets and liabilities	(4,349)	(1,603)
Other liabilities	436	57
Net cash used in operating activities	(9,749)	(7,993)
Cash Flows from Investing Activities
Proceeds from sale of property and equipment	$136	$—
Purchase of property and equipment	(1,757)	(2,985)
Net cash used in investing activities	(1,621)	(2,985)
Cash Flows from Financing Activities
Proceeds from the issuance of debt	—	7,500
Payment of debt issuance costs	(301)	(925)
Repayment of debt and Structural Derivative Liability	(72,348)	(575)
Payment of costs to extinguish debt	(24)	—
Proceeds from issuance of redeemable convertible preferred stock, convertible common stock, and common stock warrants	15,000	10,000
Payment of transaction costs related to Business Combination, redeemable convertible preferred stock and settlement of HGI Additional Shares liability	(513)	(4,555)
Payments related to stock-based award activities, net	(1,366)	(2,071)
Proceeds from issuance under employee stock purchase plan	363	482
Net cash provided by (used in) financing activities	(59,189)	9,856
Net increase (decrease) in cash, cash equivalents and restricted cash	(70,559)	(1,122)
Cash, cash equivalents and restricted cash at beginning of period	94,863	95,985
Cash, cash equivalents and restricted cash at end of period	$24,304	$94,863

Consolidated Statements of Cash Flows - Continued

(In thousands)

Supplemental Disclosure
Cash paid for taxes	$49	$43
Cash paid for interest	$9,419	$12,140
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Purchase of property and equipment in accounts payable and accrued liabilities	$4	$21
Debt issuance costs in accounts payable and accrued liabilities	$45	$—
Cost of debt extinguishment in accrued liabilities	$78	$—
Transaction costs and preferred stock issuance costs in accounts payable and accrued liabilities	$15	$—
Settlement of HGI Additional Shares liability	$—	$1,500
Partial settlement of Earnout due to cancellation of shares	$—	$347
Cancellation of Volition Warrants	$300	$—
Reduction in transaction costs allocated to equity instruments	$—	$9,609

Notes to Consolidated Financial Statements

ContentsView on SEC.gov

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