Quarterly ResultMay 7, 2026, 04:56 PM
Grove Q1 Revenue Down 16.8% to $36.2M; Net Loss Narrows to $1.0M
AI Summary
Grove Collaborative Holdings, Inc. reported a 16.8% decrease in net revenue to $36.2 million for Q1 2026, down from $43.5 million in Q1 2025. Despite the revenue decline, the company significantly narrowed its net loss to $1.0 million, an improvement from a $3.5 million net loss in the prior year period. Cash used in operating activities also saw a substantial improvement, decreasing from $6.8 million to $0.7 million. The company maintains $7.2 million in cash and cash equivalents and has $1.7 million in additional borrowing capacity under its Siena Revolver.
Key Highlights
- Net revenue decreased 16.8% to $36.2 million in Q1 2026 from $43.5 million in Q1 2025.
- Net loss narrowed significantly to $1.0 million in Q1 2026, compared to $3.5 million in Q1 2025.
- Operating loss improved to $0.9 million in Q1 2026 from $3.5 million in Q1 2025.
- Net loss per share improved to $(0.03) in Q1 2026 from $(0.10) in Q1 2025.
- Cash and cash equivalents stood at $7.2 million as of March 31, 2026.
- Net cash used in operating activities improved to $0.7 million in Q1 2026 from $6.9 million in Q1 2025.
- Grove Brands revenue decreased 6.3% to $16.5 million; Third-party products revenue decreased 23.9% to $19.7 million.
- Outstanding debt under Siena Revolver was $7.5 million with $1.7 million additional capacity.
Price Impact
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