Grove Collaborative Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:46 pm EST
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Grove Collaborative Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 61.75 million compared to USD 77.73 million a year ago. Net loss was USD 9.81 million compared to net income of USD 7.66 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to basic earnings per share from continuing operations of USD 0.25 a year ago. Diluted loss per share from continuing operations was USD 0.31 compared to diluted earnings per share from continuing operations of USD 0.23 a year ago.
For the nine months, sales was USD 199.42 million compared to USD 247.49 million a year ago. Net loss was USD 33.75 million compared to USD 75.03 million a year ago. Basic loss per share from continuing operations was USD 1.01 compared to USD 5.65 a year ago. Diluted loss per share from continuing operations was USD 1.01 compared to USD 5.65 a year ago.
Grove Collaborative Holdings, Inc. is a consumer products company. The Company use its connection with consumers to create and curate authentic, disruptive brands and products. It creates and curates more than 200 high-performing eco-friendly brands of household cleaning, personal care, laundry, clean beauty, baby and pet care products serving millions of households across the United States. Its omnichannel distribution strategy enables it to reach consumers where they want to shop. It operates an online direct-to-consumer Website and mobile application (DTC platform) where it both sell its Grove-owned brands (Grove Brands) and partners with other natural and mission-based consumer packaged goods (CPG) brands, providing consumers the selection of curated products across many categories and brands. Its flagship brand is The Grove Co. Its incubator brand portfolio includes Peach, Rooted Beauty, Superbloom and Honu. The Company also offers third-party brands.