Grove Collaborative Holdings, Inc. (GROV) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

uncertainties that could cause actual results to differ materially, including those risks discussed in Grove's filings with the Securities and Exchange Commission. All these statements are based on Grove's views today, and Grove assumes no obligation to update any forward linking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. During today's call, Grove will also discuss certain non-GAAP financial measures which adjusts gap results to eliminate the impact of certain items. You'll find additional information regarding these non-gap financial measures and a reconciliation of those non-gap items to the most directly comparable gap financial measures in Grove's earnings release, which is also available on Grove's Investor Relations website. I would now like to turn the call over to Jeff Yerkeson to begin. Thank you, Operator, and thank you all for joining us. A year ago, We were navigating a platform migration that effectively broke our customer experience and weighed on our results throughout 2025. Throughout the year, we made deliberate choices to protect liquidity and profitability while we repaired it. Those choices are reflected in the results we are reporting today. The first quarter performed ahead of our expectations. Net revenue was 36.2 million and adjusted EBITDA was 0.3 million, our second consecutive quarter of positive adjusted EBITDA. Reflecting the foundation we built in 2025, the cost structure is more efficient, the customer experience is improving, and we are seeing green shoots as it relates to recent cohort behavior, giving us further conviction that we expect the first quarter of 2026 represents the revenue trough for the year. What this means for Grove is th...