Grove laborative (US:GROV)2025-05-14 20:26Financial Performance & Outlook - Q1 2025 revenue reached $43.5 million, a decrease of 18.7% year-over-year [18] - The company experienced a negative adjusted EBITDA of $1.6 million, representing -3.6% of revenue, compared to a positive $1.9 million, or 3.5% of revenue, in the same period last year [18] - Grove anticipates sequential revenue growth in Q2 and Q3 of 2025, with a return to slight year-over-year growth in Q4 [19] - Full-year 2025 revenue is projected to decline by mid-single-digit to low double-digit percentage points year-over-year [35] - The company expects full-year 2025 adjusted EBITDA to range from negative low single-digit millions to positive low single-digit millions [35] Strategic Initiatives & Transformation - Grove is shifting its business model away from default subscriptions, which is expected to result in higher lifetime value (LTV) and improved payback [27] - The company is expanding its product mix through third-party expansion, owned brand innovation, and mergers and acquisitions (M&A) [62] - Grove aims to increase its assortment by 40% in 2025 by adding over 100 brands [71] Key Achievements in 2024 - Grove achieved a positive adjusted EBITDA of $1.3 million in fiscal year 2024 [8, 58] - The company experienced positive operating cash flow in the last three quarters of 2024 [8] - Grove successfully paid off $72 million in term debt [8, 58]