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…
Earnings analysis · 10-Q
GROV earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.03
- Gross margin
- 55%
- Segment
- Grove Brand: $16.5M, Third-party products: $19.7M
What stood out
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Revenue Beats Expectations
Actual revenue was $36.2 million, beating estimates of $33.1 million by 9.52%.
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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.
What to watch
-
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.
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Negative Cash Flow from Operations
Negative cash flow from operating activities of $0.7 million signifies challenges in funding operations.
Management's outlook
Full-year revenue guidance raised to $143M-$153M.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.