Grove Collaborative Holdings, Inc. · NYSE:GROV
Grove Collaborative — Q1 2025 Earnings Presentation
31 slides from Grove Collaborative's earnings presentation, May 14, 2025
Slide 1: Investor Presentation Q1 2025
Investor Presentation Q1 2025 As of May 14, 2025
Slide 2: Safe Harbor Statement/Non-GAAP Measures
Safe Harbor Statement/Non-GAAP Measures All information in this presentation is as of May 14, 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 Litigat
Slide 3: Grove's transformation fuels momentum for 2025 and beyond
Grove’s transformation fuels momentum for 2025 and beyond 2024 ● Sequential revenue growth in fourth quarter ● $1.3M positive adjusted EBITDA in FY24 ● Positive Operating Cash Flow in last three quarters of 2024 ● Removed default subscriptions and opened business model ● Optimized own Fulfillment Cen
Slide 4: Grove's turnaround roadmap
Grove’s turnaround roadmap 2026 & Beyond PROFITABLE GROWTH 2024-2025 - Consistent, profitable revenue growth TRANSFORMATION - Scale advertising - Shift to open shopping investment with high return 2022-2023 experience on investment DRIVE TO PROFITABILITY - Expand focus to - Maintain operating and env
Slide 5: Q1 2025 Financial results
MEASURING OUR IMPACT Q1 2025 Financial results
Slide 6: Q1 2025 Financial Results: Deliberate shift to profitable growth model continues
Q1 2025 Financial Results: Deliberate shift to profitable growth model continues to pressure near-term topline, but creates a healthier foundation for long-term performance Revenue impacted by lower repeat order volume, as well as REVENUE $43.5M -18.7% vs. LY temporary disruptions from our ecommerce
Slide 7: Sequential Growth Still Expected in Q2 and Q3 with Return to Slight Year-over-Year Growth in Q4
Sequential Growth Still Expected in Q2 and Q3 with Return to Slight Year-over-Year Growth in Q4 Quarterly Revenue ($M) (1) Note: (1) Includes estimated $2–3M impact from eCommerce migration in Q1 2025
Slide 8: Profitability expected to improve throughout the year
Profitability expected to improve throughout the year, reflecting operational efficiencies and platform stabilization Adjusted EBITDA ($M) Operating Cash Flow ($M)
Slide 9: Revenue trends reflect strategic business model shift toward a more durable customer base
Revenue trends reflect strategic business model shift toward building a more stable and durable customer base DTC Net Revenue per Order DTC Orders per Active Customer1 DTC Net Revenue per Active Customer1 Business Model Transformation in early 2024 away from Change in order mix to include more higher
Slide 10: Enhanced efficiency driving margin expansion and operational leverage
Enhanced efficiency driving margin expansion and operational leverage GAAP Gross Margin GAAP SG&A ($M) GAAP Inventory ($M)
Slide 11: Financial outlook: 2025 Revised Guidance
Financial outlook 2025 Revised Guidance First quarter revenue is still expected to Revenue ➔ be the lowest revenue quarter in 2025 and going forward. ➔ Revenue is expected to improve through the second and third quarters, leading to slight year-over-year growth in the fourth quarter. ➔ Full-year 202
Slide 12: Your home, healthier.
Your home, healthier. Our mission is to transform the products you use every day into a force for environmental and human health.
Slide 13: Our journey to building a healthier home and planet
Our journey to building a healthier home and planet 2012 2014 2016 2021 2024 2025 and Beyond Founded as Officially Grove Became a Public Transformed Prioritizing ePantry to became a Collaborative Benefit business model environmental deliver healthy, Certified B rebranded and Corporation by shifting away
Slide 14: Vetted essentials for a healthier home, body, and planet
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 15: The mindful shopper wants healthy, sustainable products, but faces obstacles
Empowering customers to create a healthier home and planet The mindful shopper wants healthy, provides: sustainable products, but faces obstacles. CURATED QUALITY EDUCATIONAL SUPPORT We vet every product for safety Science-backed guidance for HARMFUL INGREDIENTS in many products and sustainability,
Slide 16: 57 million conscientious consumers
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: 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 18: 2024 included key milestones toward our transformation to profitable growth
2024 included key milestones toward our transformation to profitable growth BALANCE SHEET ENVIRONMENTAL & PROFITABILITY REVENUE GROWTH STRENGTH HUMAN HEALTH Positive 2024 Adjusted EBITDA $72M term debt repayment First quarter of sequential Plastic intensity decreased of +$1.3M resulted in a stronger
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 $67 net revenue per A higher standard: Where value Media mix informed by Streamlined workforce order1 meet va
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 increasing assor
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 Mar. 31, Dec. 31, 2025 2024 Ending Cash, Cash Equivalents & $13.5 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, Jason Buursma, Vice President, Tom Siragusa, Interim Chief Jennifer Pann, Vice President, Scott Giesler, General Counsel Chief Executive Officer Marketing Financial Officer Merchandising & E-Commerce Nearly 20 years of experienc
Slide 29: Appendix
Qos Appendix
Slide 30: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation $MM (1) Reconciliation of Net (Loss) Income to Adjusted EBITDA FY 2022 FY 2023 FY 2024 Q1 2024 Q1 2025 Net Loss ($87.7) ($43.2) ($27.4) ($3.4) ($3.5) Stock-Based Compensation $45.7 $15.5 $12.0 $3.1 $1.0 Depreciation and Amortization $5.7 $5.8 $9.8 $2.2 $0.4 Changes in
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