Positive Cash Flow and Liquidity Management
The company delivered positive operating cash flow of $1 million and improved financial flexibility by extending the asset-based loan facility to 2028.
Increase in Gross Margin
The gross margin increased to 55.4%, up 150 basis points compared to the previous year, reflecting better vendor funding and promotional strategies.
Sequential Revenue Growth
Despite a year-over-year decline, revenue increased sequentially by 1.1%, indicating early momentum in stabilizing business operations.
Expansion in Product Assortment
The number of brands offered increased by 47% and individual products by 59% year-over-year, expanding into high-potential categories like clean beauty and wellness.
Advocacy and Environmental Leadership
Grove launched a survey on microplastics with the 5 Gyres Institute and supported the Bipartisan Microplastics Safety Act, highlighting its commitment to environmental and human health issues.