GROVE COLLABORATIVE HOLDINGS INC | 8-K: FY2026 Q1 Revenue: USD 36.22 M

Revenue: As of FY2026 Q1, the actual value is USD 36.22 M.

EPS: As of FY2026 Q1, the actual value is USD -0.03.

EBIT: As of FY2026 Q1, the actual value is USD -702 K.

Financial Highlights for Q1 2026

Net Revenue

Total Net Revenue was $36.2 million, representing a -16.8% decrease year-over-year and a -14.6% decrease compared to Q4 2025. This decline was primarily attributed to a smaller active customer base due to e-commerce platform migration issues in 2025 and reduced advertising spending .

Operational Metrics

• Adjusted EBITDA: Adjusted EBITDA was positive $0.3 million (0.8% margin) for Q1 2026, specifically $0.296 million, compared to -$1.6 million (-3.7% margin) or -$1.598 million in the prior-year period . This marks an improvement of +$1.9 million and +450 basis points year-over-year, making it the second consecutive quarter of positive Adjusted EBITDA .
• Net Loss: Net Loss was -$1.0 million (-2.8% Net Loss margin) for Q1 2026, specifically -$1.009 million, compared to -$3.5 million (-8.1% Net Loss margin) or -$3.547 million in Q1 2025 .
• Gross Margin: Gross Margin was 54.8% for Q1 2026, an increase of 180 basis points compared to 53.0% in Q1 2025 . This expansion was driven by targeted promotions following the launch of the Grove Green Rewards loyalty program .
• Operating Expenses: Operating Expenses totaled $20.8 million, a decrease of 21.9% compared to $26.6 million in the prior-year period .
• Operating Loss: Operating Loss was -$0.901 million for Q1 2026, compared to -$3.508 million for Q1 2025 .

Cash Flow

• Operating Cash Flow: Operating cash flow was -$0.7 million for Q1 2026, specifically net cash used in operating activities was -$0.683 million, representing an improvement of +$6.2 million year-over-year compared to -$6.9 million or -$6.872 million in the prior-year period . This primarily reflects an increase in inventory .
• Cash, Cash Equivalents, and Restricted Cash: Cash, Cash Equivalents, and Restricted Cash totaled $10.4 million as of March 31, 2026, down from $11.8 million as of December 31, 2025 .
• Outstanding Debt: Outstanding debt remained at $7.5 million ABL, with ABL availability of $1.7 million, up from $1.1 million at December 31, 2025 .

Unique Metrics

• DTC Total Orders: DTC Total Orders were 502,000, a decline of 19.2% year-over-year .
• DTC Active Customers: DTC Active Customers totaled 553,000 as of March 31, 2026, a decrease of 18.5% year-over-year .
• DTC Net Revenue Per Order: DTC Net Revenue Per Order was $67.79, an increase of 2.0% year-over-year .
• Plastic Intensity: Plastic Intensity, measured as pounds of plastic per $100 in net revenue, was 0.84 pounds in Q1 2026, improving from 0.99 pounds in Q1 2025 .

Outlook / Guidance

Grove Collaborative Holdings, Inc. raised its full-year 2026 net revenue guidance to a range of $142.5 million to $152.5 million, an increase from the prior range of $140 million to $150 million . Full-year 2026 Adjusted EBITDA guidance was also raised to breakeven to positive low single-digit millions . The company anticipates sequential net revenue improvement in each of the remaining three quarters of 2026, as Q1 2026 represented the expected revenue trough for the year .