/
Unless the context otherwise requires, all references in this subsection to the Company, Grove, we, us or our refer to Grove Collaborative Holdings, Inc. and its consolidated subsidiary following the Business Combination (as defined below), other than certain historical information that refers to the business of Grove Collaborative, Inc. prior to the consummation of the merger with Virgin Group…
The business is unprofitable at the operating level (-6.51% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 14.6% YoY. The question is whether this is cyclical or a structural shift.
ROIC dropped from -29.75% to -42.04%, capital efficiency is deteriorating. Negative free cash flow of -$8M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$166M
▼ -14.6% YoY
Net Income (TTM)
-$9M
▲ +57.3% YoY
Op. Margin
-5.23%
▲ +4.6pp YoY
ROIC
-33.17%
▼ -12.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▲ +29.4% YoY
Op. Cash Flow (TTM)
-$765K
▲ +28.7% YoY
Net Debt
$13M
Cash & Equiv.
$7M
5Y CAGR: -13.8%
Continue Research