Grove Collaborative Holdings, Inc. · NYSE:GROV
Grove Collaborative — Q3 2025 Earnings Presentation
32 slides from Grove Collaborative's earnings presentation, Nov 13, 2025
Slide 1: Investor Presentation Q3 2025
Investor Presentation Q3 2025 As of November 13, 2025
Slide 2: Safe Harbor Statement/Non-GAAP Measures
Safe Harbor Statement/Non-GAAP Measures All information in this presentation is as of November 13, 2025. 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 Li
Slide 3: Your home, family, planet, healthier.
Your home, family, planet, healthier.
Slide 4: Grove's transformation fuels momentum for future growth
Grove’s transformation fuels momentum for future growth Strategic Pillars - Third Quarter Summary Balance Sheet Strength ➔ Re-prioritized liquidity during the quarter through a deliberate reduction in advertising spend and disciplined SG&A actions. Sustainable Profitability ➔ Focused on protecting ca
Slide 5: Grove's transformation fuels momentum for future growth
Grove’s transformation fuels momentum for future growth Other Strategic Updates Fixing the Core Customer Experience ➔ Addressing key conversion friction points through the mobile app, subscription experience, and payment improvements. Strategic Options ➔ Continuing to execute the standalone turnarou
Slide 6: Q3 2025 Financial results
MEASURING OUR IMPACT Q3 2025 Financial results
Slide 7: Q3 2025 Financial Results
Q3 2025 Financial Results -9.4% vs. LY Revenue performance marks our smallest year-over-year REVENUE $43.7M decline since Q4 of 2021. The decline versus last year -0.7% vs. Q2 25 primarily reflects the effects of reduced advertising investment in prior periods, which led to a smaller active subscriber
Slide 8: Holistic P&L Transformation Has Resulted in Improved Bottom Line Performance
Holistic P&L Transformation Has Resulted in Improved Bottom Line Performance Adjusted EBITDA ($M) Cost structure improvements and expense discipline are driving minimal Adjusted EBITDA losses despite lower revenue
Slide 9: Cash Flow Improvements Signal Strengthening Operational Discipline
Cash Flow Improvements Signal Strengthening Operational Discipline Operating Cash Flow ($M) Includes acquired working capital from acquisitions One-time expenses (Lease termination) and interest payments
Slide 10: Enhanced efficiency driving margin expansion and operational leverage
Enhanced efficiency driving margin expansion and operational leverage GAAP Gross Margin 610 bps of margin expansion driven by improved promotional strategies, increase in third party vendor funding, and smaller impact of inventory reserve charges.
Slide 11: Improved Balance Sheet Driven by Debt Reduction and Lower Interest Burden
Improved Balance Sheet Driven by Debt Reduction and Lower Interest Burden Gross Debt Outstanding(1) & Interest Expense by Quarter ($M) Term Debt Fully Repaid in Q4 2022 reducing interest burden; Only $7.5M ABL Interest Facility Remains. Expense Down 90% in 2025 vs. 2024 — Freeing Up Capital $0.3 $0.
Slide 12: Revenue Stabilizing even as Grove Prioritizes Core Experience and Profitability
Revenue Stabilizing even as Grove Prioritizes Core Experience and Profitability Quarterly Revenue ($M) Q1 seasonal decline Revenue expected to and ecommerce be roughly flat platform migration sequentially in the disruption fourth quarter
Slide 13: Financial outlook: 2025 Revised Guidance
Financial outlook 2025 Revised Guidance Full year 2025 revenue is expected to be Revenue ➔ $172.5 - $175M at the lower end of the previously communicated full year guidance range of down approximately mid-single-digit to low-double-digit percentage points year-over-year ➔ Fourth quarter, revenue is
Slide 14: Grove's turnaround roadmap
Grove’s turnaround roadmap 2026 & Beyond SUSTAINABLE 2024-2025 PROFITABILITY STRATEGIC - Consistent, profitable TRANSFORMATION revenue growth. 2022-2023 - Transitioned to open - Scale advertising DRIVE TO PROFITABILITY shopping experience investment with high return on investment. 2020-2021 - Full P&
Slide 15: Grove's transformation journey
Grove’s transformation journey Prioritize Revenue Growth Drive to Profitability Transformation Full-year 2025 revenue is expected to be $172.5 - $175M at the lower end of the previously communicated full year Pandemic Bump in guidance range. 2020-2021 Adjusted EBITDA is expected to be negative low si
Slide 16: 57 million
Expanding our reach to reflect our broader commitment to a healthier home and planet BEFORE 57 million 1 5 million customers 2 reached through conscientious consumers want healthier, cleaning focus and subscription boxes planet-friendly products for their families AFTER Better serve the remaining 52
Slide 17: Grove Collaborative: The leading platform for conscientious consumers
Grove Collaborative: The leading platform for conscientious consumers Vetted essentials for Leading the way a healthier home, A higher standard Beyond Plastic™ body, and planet Every product meets rigorous Helping consumers reduce A differentiated alternative to standards for health, exposure to chem
Slide 18: Consumers are prioritizing natural and sustainable products like never before
Consumers are prioritizing natural and sustainable products like never before Consumers are voting with their wallets—brands that align with sustainability and wellness are positioned for long-term growth. SUSTAINABILITY MATTERS WELLNESS-DRIVEN PURCHASING 80% +28% of U.S. consumers cumulative growth
Slide 19: Building a trusted marketplace with a winning product mix
STRATEGIC FOCUS Building a trusted marketplace with a winning product mix CONFIDENTIAL
Slide 20: Our 2025 strategy is concentrated around three strategic initiatives
Our 2025 strategy is concentrated around three strategic initiatives Empowering 57M conscientious consumers to create a healthier home and planet MAKING GROVE THE PREFERRED CHOICE SCALE PLATFORM TO WIN GROW PRODUCT MIX BUILD CUSTOMER LOVE Optimize growth with leading Through third-party Strengthenin
Slide 21: Trusted, curated marketplace
PLATFORM SCALED TO WIN Trusted, curated MARKETING EFFICIENT COST BOX ECONOMICS FRAMEWORK STRUCTURE marketplace Guided, personalized Strategic cost optimization 8+ units per order1 experience $66+ net revenue per A higher standard: Where value Media mix informed by Streamlined workforce order1 meets
Slide 22: Win in human health and wellness
GROW PRODUCT MIX Win in human health and wellness VMS GROWTH Improve customer conversion through increased selection, increased marketing exposure, and enhanced content EXPAND NON-VMS ADVISORY BOARD Target white space categories to aid the customer journey of Experts for credibility and trust buildi
Slide 23: Third-party learning from VMS success
GROW PRODUCT MIX VMS success lays the blueprint for further expansion into new Third-party learning Grove categories from VMS success Customers trust us1: 89% of customers surveyed trust Grove for health and wellness needs. Adding 100+ brands and Higher order sizes2: 20%+ higher net Meeting demand t
Slide 24: Owned brands strategy evolution
GROW PRODUCT MIX Owned brands strategy evolution Building our portfolio of exclusive products CORE CLEANING: REFILLABLES EVOLUTION IN THE HOME: MARGIN ACCRETIVE EXPANSION AND CONCENTRATES PAPER, TRASH, DURABLES Industry leading sustainability: Bamboo based paper enabling meeting and exceeding unique
Slide 25: Earn trust through authentic content
BUILD CUSTOMER LOVE Earn trust through authentic content Deepen trust and brand authority with engaging, educational storytelling that inspires informed choices Home Planet Blog Organic Social Product Rich Editorials PLPs and PDPs Builds trust and Provides educational Bridges education Guide custome
Slide 26: Supplemental
Qos Supplemental
Slide 27: Balance Sheet and Cash
Balance Sheet and Cash Balance Sheet Cash & Debt Sep. 30, Dec. 31, 2025 2024 Ending Cash, Cash Equivalents & $12.3 million $24.3 million Restricted Cash $7.5 million $7.5 million Outstanding Debt ABL ABL
Slide 28: Leadership Team With Depth of Ecommerce Experience to Execute
Leadership Team With Depth of Ecommerce Experience to Execute Jeff Yurcisin, Tom Siragusa, Chief Financial Scott Giesler, General Counsel Jennifer Pann, Vice President, Jason Buursma, Vice President, Chief Executive Officer Officer Merchandising & E-Commerce Marketing Nearly 20 years of experience Proven
Slide 29: Appendix
Qos Appendix
Slide 30: Adjusted EBITDA Reconciliation - Quarterly
Adjusted EBITDA Reconciliation - Quarterly $MM (1) Reconciliation of Net (Loss) Income to Adjusted EBITDA Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net Loss ($47.4) ($35.3) $7.7 ($12.7) ($13.1) ($10.9) ($9.8) ($9.5) ($3.4)
Slide 31: Adjusted EBITDA Reconciliation - Annual
Adjusted EBITDA Reconciliation - Annual $MM (1) Reconciliation of Net (Loss) Income to Adjusted EBITDA FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 Net Loss ($25.3) ($81.7) ($161.5) ($72.3) ($135.9) ($87.7) ($43.2) ($27.4) Stock-Based Compensation — $1.6 $12.0 $7.8 $14.6 $45.7 $15
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