Financial Data and Key Metrics Changes - In Q4 2024, revenue was $49.5 million, up 2.5% from Q3 but down 17.4% year-over-year, marking the first sequential revenue growth since early 2022 [31][14][6] - The company achieved positive operating cash flow of $0.3 million in Q4, marking the third consecutive quarter of positive cash flow [12][40] - Adjusted EBITDA was negative $1.6 million, a negative margin of 3.3%, compared to breakeven in Q3 and $0.1 million in Q4 2023 [40][12] Business Line Data and Key Metrics Changes - The company experienced a sequential increase in total orders, reaching 717,000, up 1.3% quarter-over-quarter but down 17% year-over-year [33] - Direct-to-consumer (DTC) net revenue per order was $66.94, down 0.1% from Q3 and flat year-over-year [34] - Grove brand products accounted for 40.1% of net revenue, up 160 basis points from Q3 but down 470 basis points year-over-year [35] Market Data and Key Metrics Changes - Active customers declined by 3.1% quarter-over-quarter to 688,000 and 25.2% year-over-year [33] - The company expanded its third-party category offerings by 30% compared to Q4 2023, reflecting a commitment to customer needs [17] Company Strategy and Development Direction - The company is focusing on profitability, balance sheet strength, and revenue growth, having eliminated $72 million in term debt [11][12] - A strategic shift to a more flexible, incentive-driven online experience is underway, moving away from a gated subscription model [16] - The company plans to exit the brick-and-mortar business by mid-2025, which is expected to strengthen the bottom line [47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the trajectory for 2025, expecting to return to year-over-year revenue growth by Q4 2025 [15] - The company anticipates that the first quarter of 2025 will be the lowest revenue quarter, with improvements expected in subsequent quarters [45] - Management emphasized the importance of human health in their branding and marketing strategies moving forward [60][62] Other Important Information - The company announced two strategic acquisitions: Grab Green and 8Greens, which align with its mission of sustainability and health [20][21] - The transition to Shopify's e-commerce platform is expected to unlock efficiencies and capabilities previously limited by their custom-built platform [19] Q&A Session Summary Question: What drove the higher repeat order rates in Q4? - Management attributed the increase to improvements in the core customer experience and a broader third-party assortment, which made it easier for customers to find products [52][54] Question: Can you discuss the pipeline for third-party assortment in 2025? - Management confirmed a focus on expanding into new categories, particularly wellness, while maintaining high product quality standards [56][58] Question: What are the plans for branding and marketing campaigns this year? - Management indicated a shift towards consistent messaging around human health, alongside ongoing sustainability efforts [60][62] Question: Can you provide insights on gross margins and operating expenses for this year? - Management noted that there will be both accretive and dilutive impacts on gross margins, and they will remain disciplined in managing expenses until consistent revenue growth is achieved [64][68]

Revenue Performance - Fourth quarter 2024 revenue was $49.5 million, a sequential increase of 2.5% from $48.3 million in Q3 2024, but a year-over-year decline of 17.3% from $59.9 million in Q4 2023[4] - Full year 2024 revenue totaled $203.4 million, representing a 21.5% year-over-year decline, primarily due to a decrease in direct-to-consumer (DTC) orders[17] - For the year ended December 31, 2024, Grove reported a net revenue of $203.425 million, a decrease of 21.5% compared to $259.278 million in 2023[40] Profitability and Loss - Net loss for Q4 2024 was $12.6 million, with a net loss margin of (25.5%), compared to a net loss of $1.3 million in Q3 2024[8] - The net loss for the year ended December 31, 2024, was $27.423 million, compared to a net loss of $43.232 million in 2023, representing a 36.3% improvement[40] - Net loss for the three months ended December 31, 2024, was $12.635 million, compared to a net loss of $9.485 million for the same period in 2023[44] Adjusted EBITDA - Adjusted EBITDA for Q4 2024 was negative $1.6 million, compared to breakeven in Q3 2024 and $0.1 million in Q4 2023[9] - Total Adjusted EBITDA for the year ended December 31, 2024, was $1.301 million, a significant improvement from a loss of $9.183 million in 2023[44] - Adjusted EBITDA margin for the three months ended December 31, 2024, was (3.3)%, compared to 0.2% in the same period of 2023[44] Operating Expenses - Operating expenses in Q4 2024 were $34.3 million, a 6.0% increase sequentially but a 15.4% decrease year-over-year[7] - Operating expenses for the year ended December 31, 2024, totaled $132.895 million, compared to $172.622 million in 2023, a decrease of 23%[40] Balance Sheet and Cash Flow - The company completed a voluntary $72 million repayment of term debt in Q4 2024, improving its balance sheet[5] - The total current assets decreased from $124.196 million in 2023 to $44.941 million in 2024, a decline of 63.8%[38] - Total liabilities decreased from $132.620 million in 2023 to $48.787 million in 2024, a reduction of 63.3%[38] - Cash and cash equivalents at the end of the period were $19.627 million, down from $86.411 million in 2023, a decrease of 77.3%[38] Gross Margin - Gross margin for Q4 2024 was 52.4%, down from 53.0% in Q3 2024 and 54.4% in Q4 2023, attributed to increased promotional activity[5] - The company’s gross profit for the year ended December 31, 2024, was $109.348 million, down from $137.359 million in 2023, reflecting a decline of 20.4%[40] Direct-to-Consumer Orders - DTC total orders in Q4 2024 were 717,000, up 1.3% quarter-over-quarter but down 17.0% year-over-year[14] Future Outlook - The company expects 2025 revenue to be approximately flat to down mid-single digit percentage year-over-year, with a focus on sustainable growth[31] - Recent acquisitions of Grab Green and 8Greens are expected to enhance the company's product offerings and align with its sustainability goals[22] Management Commentary - Grove's management emphasizes the importance of non-GAAP measures like Adjusted EBITDA for evaluating financial performance and trends, despite their limitations[35]

Financial Performance - Revenue for the three months ended September 30, 2024, was $48.28 million, a decrease of 22% compared to $61.75 million for the same period in 2023[13]. - Gross profit for the three months ended September 30, 2024, was $25.60 million, down from $33.23 million in the prior year, reflecting a gross margin decline[13]. - Operating loss for the three months ended September 30, 2024, was $(6.75) million, compared to $(4.10) million for the same period in 2023[13]. - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(1.51) million, compared to a net loss of $(10.87) million in the prior year[13]. - The net loss for the three months ended September 30, 2023, was $33.7 million, compared to a net loss of $14.8 million for the same period in 2024[21]. - The company reported a net loss of $1,336,000 for the three months ended September 30, 2024, compared to a net loss of $9,811,000 in the same period of 2023[172]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $2,919,000, compared to a loss of $9,320,000 in the same period of 2023, indicating improved operational performance[172]. Cash and Liquidity - Cash and cash equivalents decreased to $50.8 million as of September 30, 2024, down from $86.1 million in the previous year[24]. - Total cash, cash equivalents, and restricted cash at the end of the period was $55.6 million, down from $94.7 million a year earlier[24]. - As of September 30, 2024, the company had $50.8 million in unrestricted cash and cash equivalents, with negative cash flows from operating activities of $10.0 million for the nine months ended September 30, 2024[205]. - The company has an accumulated deficit of approximately $635.9 million as of September 30, 2024, funded primarily through stock financings and debt[205]. - Total outstanding indebtedness was $32.2 million, net of debt issuance costs, as of September 30, 2024[205]. Expenses and Cost Management - Advertising expenses for the three months ended September 30, 2024, were $2.82 million, while product development expenses were $4.80 million[13]. - The company incurred stock-based compensation expenses of $11.9 million in Q3 2023, compared to $9.3 million in Q3 2024[21]. - Selling, general and administrative expenses decreased from $29.7 million in 2023 to $24.7 million in 2024 for the three months ended September 30[187]. - Interest expense for the three months ended September 30, 2024, was $2.9 million, down from $4.1 million in 2023[183]. - The company has implemented significant expense reductions since the second half of 2022, particularly in advertising, which have led to a substantial decline in revenue[151]. Revenue Breakdown - Grove Brands revenue for the three months ended September 30, 2024, was $18.61 million, down 33% from $27.65 million in the same period of 2023[54]. - Third-party products revenue for the three months ended September 30, 2024, was $29.67 million, a decline of 13% from $34.10 million in the same period of 2023[54]. - Grove Brands % Net Revenue decreased from 46% in September 2023 to 41% in September 2024, reflecting a shift towards third-party offerings[164]. Future Outlook and Strategy - Future outlook remains cautious due to potential risks and uncertainties affecting operations and financial performance[6]. - The company plans to continue focusing on product development and market expansion strategies to drive future growth[6]. - The company plans to exit the sale of Grove Co. products through brick and mortar retail channels by 2025, expecting minimal impact on revenue but improved profitability[145]. - The company is transitioning its ecommerce platform to Shopify, which is expected to enhance scalability and user experience[161]. - Operating expenses are expected to increase as the company plans to invest more in advertising to optimize customer acquisition costs[179]. Debt and Financing - The total debt as of September 30, 2024, is $32.166 million, a decrease from $71.662 million as of December 31, 2023[78]. - The Company entered into a revolving line of credit (Siena Revolver) with an initial commitment of $35.0 million, with an outstanding principal balance of $7.5 million as of September 30, 2024[86][89]. - The interest rate on the outstanding balance of the Siena Revolver was 9.18% as of September 30, 2024, with additional borrowing capacity of $6.8 million[89]. - The Company must prepay $10.0 million of the principal amount on the Structural Debt Facility on or before November 30, 2024[85]. Stock and Equity - The Company had cash equivalents of $48.514 million as of September 30, 2024, down from $83.431 million as of December 31, 2023[69]. - The Company has 29,028,103 shares of common stock reserved for future issuance as of September 30, 2024, including various warrants and stock options[118]. - The Company issued 396,825 shares to HCI Grove LLC for aggregate proceeds of $2.5 million under the HGI Subscription Agreement, with a registration statement filed on July 14, 2023[113]. - The Series A Preferred Stock Subscription Agreement with Volition Capital raised gross proceeds of $10.0 million for 10,000 shares, along with warrants to purchase 1,579,778 shares at an exercise price of $6.33[119]. Operational Metrics - DTC Total Orders decreased from 2,988 in September 2023 to 2,213 in September 2024, primarily due to a lower advertising spend strategy[165]. - DTC Active Customers remained stable at 1,019 in September 2023 but decreased to 710 in September 2024, indicating a decline in customer acquisition[166]. - DTC Net Revenue Per Order increased from $64 in September 2023 to $67 in September 2024, attributed to a favorable product mix and strategic price increases[167].

Financial Data and Key Metrics Changes - Net revenue for Q3 2024 was $48.3 million, down 7.3% from Q2 2024 and down 21.8% year-over-year, primarily due to fewer repeat orders and lower advertising spend [22][19] - Total orders decreased to 0.7 million in Q3, down 3.3% quarter-over-quarter and 22.8% year-over-year, with active customers also down to 0.7 million, a decline of 4.8% quarter-over-quarter and 30.4% year-over-year [23][19] - Adjusted EBITDA was breakeven in Q3 2024, compared to $1.1 million in Q2 2024 and $0.2 million in Q3 2023, reflecting strict expense discipline despite revenue challenges [30][19] Business Line Data and Key Metrics Changes - DTC net revenue per order was $67.02 in Q3, down 1% from Q2 but up 2.7% year-over-year, driven by a higher percentage of first orders [24][19] - Gross margin was 53%, down 80 basis points from Q2 2024 and year-over-year, mainly due to retail markdowns and a shift towards third-party products [25][19] - Growth brand products as a percentage of net revenue decreased to 38.5%, down 260 basis points quarter-over-quarter and 630 basis points year-over-year, due to the expansion of third-party offerings [26][19] Market Data and Key Metrics Changes - Advertising expenses increased 15.6% in Q3 compared to Q2 but decreased 30.6% year-over-year to $2.8 million, reflecting a strategic shift towards DTC advertising [27][19] - The company reported a $0.8 million operating cash flow, marking the fourth quarter of positive operating cash flow in the last six quarters [31][19] - Inventory was reduced from $27.8 million at the end of Q2 2024 to $24.5 million at the end of Q3 2024, indicating improved inventory management [9][19] Company Strategy and Development Direction - The company is focusing on exiting the retail channel by early 2025, as it constitutes less than 4% of the business and has been consistently unprofitable [16][19] - The strategy emphasizes investment in DTC channels, targeting a growing segment of conscientious consumers who prefer premium curated selections [17][19] - The company aims to achieve sustainable, profitable growth by optimizing its e-commerce experience and enhancing customer engagement [36][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a reduction in revenue guidance for 2024, now expecting net revenue to be in the range of $200 million to $205 million, down from previous guidance [33][19] - The management remains optimistic about sequential revenue growth in Q4 2024, driven by stabilization in repeat customer revenue [22][19] - The company is committed to maintaining strict margin and expense discipline while focusing on long-term sustainable growth [34][19] Other Important Information - The company received an additional $15 million investment from Volition Capital, which will be used to pay off remaining term debt, resulting in a cleaner balance sheet [10][19] - The Grove community has avoided and recovered 24.5 million pounds of plastic since 2020, highlighting the company's commitment to sustainability [14][19] Q&A Session Summary Question: Update on digital transformations and Shopify transition - Management confirmed that sequential growth is still anticipated and that the transition to Shopify is expected to be completed by early Q1 [39][19] Question: Factors needed for sequential growth in Q4 - Management indicated that brick-and-mortar performance has been a headwind, but they expect DTC growth to offset this [40][19] Question: Impact of exiting brick-and-mortar on P&L - Management clarified that while brick-and-mortar has been a challenge, they are focused on achieving profitable growth through DTC channels [42][19] Question: Consumer health heading into the holiday season - Management noted that their DTC customer base is generally higher income, and they have not observed significant trading down to lower-cost items [47][19]

Financial Performance - Third Quarter 2024 revenue was $48.3 million, a decline of 7.3% sequentially from $52.1 million and a 22.0% decrease year-over-year from $61.8 million[4] - Net revenue for the three months ended September 30, 2024, was $48,280 thousand, down from $61,750 thousand in the same period of 2023, representing a decrease of about 22%[26] - Gross profit for the nine months ended September 30, 2024, was $83,405 thousand, compared to $104,797 thousand for the same period in 2023, a decline of approximately 20.4%[26] - Operating loss for the three months ended September 30, 2024, was $(6,746) thousand, compared to $(4,105) thousand in the same period of 2023, indicating a worsening of 64.3%[26] - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(1,510) thousand, compared to $(10,869) thousand in the same period of 2023, showing an improvement of approximately 86.1%[26] Margins and Expenses - Gross Margin for the quarter was 53.0%, down from 53.9% in the previous quarter and 53.8% in the same quarter last year[5] - Operating Expenses decreased to $32.3 million, a 7.6% reduction from $35.0 million in the second quarter of 2024 and a 13.4% decrease from $37.3 million in the third quarter of 2023[6] - The company reported an Adjusted EBITDA margin of (0.1)% for the nine months ended September 30, 2024, compared to (4.7)% for the same period in 2023, indicating an improvement[28] - The company incurred stock-based compensation expenses of $9,268 thousand for the nine months ended September 30, 2024, compared to $11,941 thousand for the same period in 2023, a decrease of approximately 22.3%[27] Cash Flow and Assets - Operating Cash Flow was positive at $0.8 million, marking the fourth consecutive quarter of positive operating cash flow[9] - Total current assets decreased from $124,196 thousand in December 2023 to $81,841 thousand in September 2024, a decline of approximately 34.1%[25] - Cash, cash equivalents, and restricted cash at the end of the period decreased to $55,589 thousand from $94,863 thousand at the beginning of the period, a reduction of about 41%[27] - Total liabilities decreased from $132,620 thousand in December 2023 to $78,831 thousand in September 2024, a decline of approximately 40.5%[25] Customer Metrics - Direct-to-Consumer (DTC) Total Orders were 0.7 million, down 3.3% from the previous quarter and 22.8% year-over-year[10] - DTC Active Customers totaled 0.7 million, a decrease of 4.8% quarter-over-quarter and 30.4% year-over-year[10] Strategic Changes - The company revised its full-year 2024 revenue guidance to a range of $200 million to $205 million, down from the previous guidance of $205 million to $215 million[17] - Grove Brands accounted for 38.5% of Net Revenue, down 260 basis points quarter-over-quarter and 630 basis points year-over-year[9] - The company plans to exit the brick-and-mortar retail channel, which has accounted for less than 4% of revenue and has been consistently unprofitable since its launch[14] - The company’s total stockholders' equity decreased from $8,122 thousand in December 2023 to $1,520 thousand in September 2024, a decline of approximately 81.3%[25]

August 2024 Investor Presentation You're a force of nature. OO Updated Post Q2 2024 Earnings 255 255 255 3 59 76 Safe Harbor Statement/Non-GAAP Measures 247 243 228 0 0 0 247 243 228 102 163 157 3 59 76 0 114 88 130 186 128 172 196 200 120 159 144 NOTES START FROM HERE AND GROW UP Forward-Looking Statements Certain statements included in this presentation are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forwar ...

Financial Data and Key Metrics Changes - Net revenue in Q1 2024 was $53.5 million, down 10.5% from Q4 2023 and 25.2% year-over-year [6] - Adjusted EBITDA for Q1 2024 was $1.9 million, compared to $0.1 million in Q4 2023 and a loss of $6.9 million in Q1 2023 [42] - The net loss for the quarter was $3.4 million, an improvement from a net loss of $9.5 million in Q4 2023 and $13.1 million in Q1 2023 [42] Business Line Data and Key Metrics Changes - Grove Brands products as a percentage of net revenue decreased by 150 basis points quarter-over-quarter and 580 basis points year-over-year to 43% [7] - DTC net revenue per order was down 0.8% quarter-over-quarter but up 7.5% year-over-year to $66.27 [15] - Total orders were down 10.5% quarter-over-quarter and 29.5% year-over-year to 0.8 million [40] Market Data and Key Metrics Changes - Active customers decreased by 12.3% quarter-over-quarter and 35% year-over-year to 0.8 million [40] - Advertising expense decreased by 47.4% quarter-over-quarter and 36.3% year-over-year to $2.1 million [41] Company Strategy and Development Direction - The company is focused on three pillars: customer, sustainability, and profitability, aiming to transform into a household name for sustainable products [3][11] - The company plans to scale advertising spend in the coming quarters to support revenue growth while improving first order conversion rates [6][19] - The expansion of third-party product offerings increased by 34% year-over-year, with 41% of third-party products enrolled in the subscribe and save program [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sequential revenue growth by the end of the year and profitability on an adjusted EBITDA basis for the full year [19][43] - The company anticipates improvements in first order conversion rates and plans to increase advertising spend as efficiency improves [41][55] - Management highlighted the importance of sustainability as a differentiator and committed to building a sustainable business [3][38] Other Important Information - The company ended the quarter with $81.6 million in cash, a decrease of $13.3 million from the previous quarter [8] - The company has not drawn on its asset-based loan facility since taking a minimum draw of $7.5 million in Q1 2023 [17] Q&A Session Summary Question: Sales cadence throughout the year - Management indicated they are guiding towards sequential growth this year, believing they are near a bottoming out of unusual comps from heavy marketing spend in 2022 [22] Question: Initial reads on new products and customer acquisition - Management expressed excitement about the new product launches and noted early success, including sold-out items at retail [24] Question: Gross margin expectations for the next few quarters - Management stated that Q1 had one-off factors and emphasized ongoing efforts to improve gross margin without providing specific guidance [26] Question: Future advertising spend - Management confirmed plans to increase advertising spend in the back half of the year, focusing on efficiency and strong paybacks [27] Question: Performance of third-party brands and Grove brand mix - Management noted that third-party brands are growing faster and emphasized that the focus is on customer needs rather than an ideal percentage mix [30]

Financial Performance - Revenue for Q1 2024 was $53.545 million, a decrease of 25.2% compared to $71.565 million in Q1 2023[16] - Gross profit for Q1 2024 was $29.740 million, down from $37.255 million in Q1 2023, reflecting a gross margin decline[16] - Operating loss for Q1 2024 was $0.533 million, significantly improved from a loss of $13.655 million in Q1 2023[16] - Net loss attributable to common stockholders for Q1 2024 was $3.541 million, compared to a net loss of $13.069 million in Q1 2023[16] - Adjusted EBITDA for Q1 2024 was $1.893 million, compared to an Adjusted EBITDA loss of $6.820 million in Q1 2023[170] - Net loss for Q1 2024 was $3.391 million, significantly improved from a net loss of $13.069 million in Q1 2023[170] - The net loss margin improved to (6.3)% in Q1 2024 from (18.3)% in Q1 2023, indicating better operational efficiency[170] Cash and Assets - Total current assets decreased to $115.955 million as of March 31, 2024, down from $124.196 million at December 31, 2023[14] - Cash and cash equivalents at the end of Q1 2024 were $77.757 million, down from $86.411 million at the end of Q4 2023[14] - As of March 31, 2024, the company reported cash and cash equivalents of $77.8 million, down from $81.7 million in the same period of 2023, representing a decrease of approximately 3.5%[24] - The total cash, cash equivalents, and restricted cash amounted to $81.6 million as of March 31, 2024, compared to $90.5 million in 2023, indicating a decline of about 9.8%[24] - As of March 31, 2024, the company had $77.8 million in unrestricted cash and incurred negative cash flows from operating activities of $12.4 million[195] Liabilities and Debt - Total liabilities decreased to $120.349 million as of March 31, 2024, compared to $132.620 million at December 31, 2023[14] - The company's total debt increased slightly to $72.533 million as of March 31, 2024, compared to $71.662 million at the end of 2023[75] - The Company had obligations to purchase $10.7 million of merchandise as of March 31, 2024[87] - The Company entered into a Loan and Security Agreement (Siena Revolver) with an initial commitment of $35.0 million, with an additional borrowing capacity of $9.1 million as of March 31, 2024[82] - The outstanding principal balance under the Siena Revolver was $7.5 million as of March 31, 2024, with an interest rate of 9.18%[86] - The company has a total outstanding indebtedness of $72.5 million as of March 31, 2024[195] Operational Efficiency - The company anticipates continued focus on cost management and operational efficiency to improve financial performance in future quarters[10] - Selling, general and administrative expenses have declined from 2023 due to cost management initiatives and reduced fulfillment costs[178] - Fulfillment costs for Q1 2024 were $12.1 million, a reduction of 28.8% compared to $17.0 million in Q1 2023[57] - Advertising expenses significantly reduced by $6.6 million, or 76%, totaling $2.1 million, due to a lower-spend strategy[189] Customer Metrics - DTC Total Orders fell to 773 in Q1 2024, down from 1,097 in Q1 2023, primarily due to reduced advertising spend[160][163] - DTC Active Customers decreased to 807 in Q1 2024 from 1,241 in Q1 2023, reflecting fewer new customers due to reduced advertising efforts[160][164] - DTC Net Revenue Per Order increased to $66 in Q1 2024 from $62 in Q1 2023, driven by a higher number of products sold per order[160][165] Product and Revenue Sources - Revenue from Grove Brands was $23.046 million, down 34.1% from $34.976 million year-over-year[55] - Third-party products revenue decreased to $30.499 million, down 16.6% from $36.589 million in the prior year[55] - The company’s top five suppliers accounted for approximately 40% of total inventory purchases for the three months ended March 31, 2024, down from 50% in the same period of 2023[46] Future Outlook - The company believes its existing cash and cash equivalents will be sufficient to fund operations for at least one year from the report date, but additional capital will be needed for long-term sustainability[33] - The company anticipates continued operating losses and negative cash flows as it invests in advertising and strategic initiatives for future growth[199] - The company plans to increase advertising expenses in fiscal year 2024 to optimize customer acquisition costs[176] Stock and Equity - The Company issued a total of 990,000 shares of Class A common stock related to the Structural Debt Facility, recording a debt discount of $1.1 million[79] - The Company entered into a Standby Equity Purchase Agreement with Yorkville to purchase up to $100 million of common stock over 36 months, with a limit of 6,511,532 shares unless stockholder approval is obtained[111] - The Company issued 10,000 shares of Series A Redeemable Convertible Preferred Stock for gross proceeds of $10 million, along with warrants to purchase 1,579,778 shares of Class A common stock at an exercise price of $6.33[119] - The Company has 24,028,019 shares of common stock reserved for future issuance as of March 31, 2024[117]

Exhibit 99.1 Net Loss was $3.4 million, (6.3%) margin, compared to $9.5 million, (15.8%) margin in the fourth quarter of 2023, and $13.1 million, (18.3%) margin in the first quarter of 2023. Adjusted EBITDA was positive $1.9 million, 3.5% margin, compared to positive $0.1 million, 0.2% margin in the fourth quarter of 2023, and negative $6.9 million, (9.6%) margin in the first quarter of 2023. 2 Grove Announces First Quarter 2024 Financial Results SAN FRANCISCO, CA — May 14, 2024 — Grove Collaborative Holdin ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF (Exact name of registrant as specified in its charter) Delaware 88-2840659 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1301 San ...