Grove Collaborative Sees Consecutive Quarter of Positive Adjusted EBITDA
By Daniella Parra
Grove Collaborative Holdings, Inc. (NYSE: GROV) reported their Fourth Quarter Adjusted EBITDA of $0.1 million, positive for the second quarter in a row, and a record net revenue per order of $66.83.
The sustainable consumer products company also said they ended the fourth quarter with $94.9 million in Cash, Cash equivalents, and Restricted Cash, an increase of $0.2 million versus the prior quarter.
“I’m incredibly proud of the Grove Collaborative team and their hard work to deliver positive Adjusted EBITDA for the second quarter in a row, and Operating Cash Flow in two of the last three quarters, building momentum for the future as we continue on our path to being the most trusted brand for conscientious customers who are making the right choices for their families and the planet,” said Jeff Yurcisin, CEO of Grove Collaborative. “This past quarter has been the start of a critical business transformation as we create incentives for customers to build the most wallet- and planet-friendly box possible, and roll out a robust product pipeline prioritizing sustainability and convenience.
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