Grove Collaborative Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 7, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the quarterly period ended June 30, 2025
OR
| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|
For the transition period from to
Commission file number 001-40263
(Exact name of registrant as specified in its charter)
| Delaware | 88-2840659 |
|---|---|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |
| 1301 Sansome StreetSan Francisco, California(Address of Principal Executive Offices) | 94111(Zip Code) |
|---|
Tel.: (800)231-8527
(Registrants telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A common stock, par value $0.0001 | GROV | New York Stock Exchange |
SEC 1296 (02-23) Potential persons who are to respond to the collection of information contained in this Form are not required to respond unless the Form displays a currently valid OMB control number.
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes x Noo
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x Noo
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | o | Accelerated filer | o |
|---|---|---|---|
| Non-accelerated filer | x | Smaller reporting company | x |
| Emerging growth company | x | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yeso Nox
The registrant had outstanding 41,012,879 shares of Class A common stock as of August 4, 2025.
| Page | ||
|---|---|---|
| PART I - FINANCIAL INFORMATION | ||
| Item 1. | Financial Statements | 3 |
| Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 | 3 | |
| Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 | 4 | |
| Condensed Consolidated Statements of Redeemable Convertible Preferred Stock, Common Stock and Stockholders’ Equity (Deficit) for the three and six months ended June 30, 2025 and 2024 | 5 | |
| Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 3025 and 2024 | 6 | |
| Notes to the Condensed Consolidated Financial Statements | 8 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 29 |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 43 |
| Item 4. | Controls and Procedures | 44 |
| Part II - OTHER INFORMATION | ||
| Item 1. | Legal Proceedings | 45 |
| Item 1A. | Risk Factors | 45 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 73 |
| Item 3. | Defaults Upon Senior Securities | 73 |
| Item 4. | Mine Safety Disclosures | 73 |
| Item 5. | Other Information | 73 |
| Item 6. | Exhibits | 73 |
| Signatures | 76 | |
WHERE YOU CAN FIND MORE INFORMATION
Investors and others should note that we announce material financial and operational information to company investors using our Investor Relations website (http://investors.grove.co), press releases, SEC filings, and public conference calls and webcasts. We and each of our brands also use social media channels (such as X (formerly Twitter)) as a means of disclosing information about the company, our products and for complying with disclosure obligations under Regulation FD. The social media channels that we and our brands intend to use as a means of disclosing information described above may be updated from time to time as listed on our Investor Relations website. The information we post through these channels is not part of this Quarterly Report.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.