Grove Collaborative reports Q2 EPS (28c) vs (32c) last year

Reports Q2 revenue $52.1M vs $66.1M last year. “Today’s update marks nearly my first full year as CEO and I am proud of our progress on delivering Adjusted EBITDA profitability, strengthening our balance sheet, stabilizing revenue, and leveraging sustainability as our point of differentiation. We have delivered positive-adjusted EBITDA in four consecutive quarters, positive operating cash flow in three of the last five quarters, and, subsequent to the end of the second quarter, paid down $42 million of term debt to strengthen our balance sheet and reduce interest expense. We are also forecasting sequential revenue growth in the fourth quarter of this year after reshaping our business amidst a major turnaround,” said Jeff Yurcisin, Chief Executive Officer of Grove Collaborative. “Furthermore, over these past twelve months, we have rebuilt our ecommerce customer experience, which we expect will lead to sustained growth in the future.”