GROV earnings analysis
What we found in GROV's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Grove Collaborative reported weaker than expected Q1 2026 results with a revenue of $36.2 million, a 17% decrease from the previous year but an earnings surprise with EPS of -$0.03 against an expected -$0.09. Management raised full-year revenue guidance to between $143 million and $153 million, reflecting optimism for improved operational metrics in the coming periods despite previous declines.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Beats Expectations
- Actual revenue was $36.2 million, beating estimates of $33.1 million by 9.52%.
- Improved, Yet Negative EPS Surprise
- Reported EPS was -$0.03 compared to an estimate of -$0.09, exceeding expectations by 66.67%.
- Guidance Raised for Full Year
- Management raised full-year revenue guidance to $143 million - $153 million, up from previous guidance of $140 million - $150 million.
- Increased Gross Margin
- Gross margin improved to 55% from 53% year-over-year due to targeted promotions and lower costs.
- Adjusted EBITDA Positive
- Adjusted EBITDA turned positive at $0.3 million, a significant improvement from a $1.6 million loss in Q1 2025.
- Reduced Operating Cash Flow Loss
- Operating cash flow loss reduced to $0.7 million from $6.9 million in Q1 2025, a 90% improvement.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Revenue
- Total revenue fell 17% year-over-year, indicating ongoing sales challenges.
- Active Customer Decline
- Active customers decreased from 678 to 553, a decline of 125 customers due to lower advertising spend.
- Negative Cash Flow from Operations
- Negative cash flow from operating activities of $0.7 million signifies challenges in funding operations.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.03
- Gross margin
- 55%
- Segment
- Grove Brand: $16.5M, Third-party products: $19.7M
What they said about what is next.
Full-year revenue guidance raised to $143M-$153M.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 5, 2026
- Grove Collaborative describes a mission-driven DTC strategy focused on building Grove-owned brands (41% of 2025 net revenue) and a curated third-party assortment while completing the wind-down of brick-and-mortar in…
- 10-Q · November 13, 2025
- Grove Collaborative reported a decrease in revenue for Q3 2025, totaling $43.7 million, down 9.9% from $48.3 million in Q3 2024. The company experienced improved loss metrics, with an EPS of -$0.08 compared to -$0.04 in…
- 10-Q · August 7, 2025
- Grove Collaborative reported Q2 revenue of $44.03M, down 15.5% year-over-year but up modestly 1.1% sequentially. Gross margin expanded to 55.4% and operating loss narrowed to $3.49M (‑7.9% margin); net loss per share…
- 10-Q · May 14, 2025
- Grove Collaborative reported revenue of $43,547 (in thousands) for the three months ended March 31, 2025, down from $53,545 in Q1 2024, with gross profit of $23,064 and an operating loss of $3,508. Net loss attributable…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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