Revenue: As of FY2026 Q1, the actual value is USD 36.22 M, beating the estimate of USD 33.08 M.

EPS: As of FY2026 Q1, the actual value is USD -0.03, beating the estimate of USD -0.09.

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

Total Net Revenue

Total Net Revenue was $36.2 million, a decrease of 16.8% year-over-year . Net Revenue of $36.2 million represented a 16.8% decrease year-over-year and a 14.6% decrease compared to Q4 2025 .

Adjusted EBITDA

Adjusted EBITDA was positive $0.3 million . Specifically, Adjusted EBITDA was $296 thousand for the three months ended March 31, 2026, compared to - $1,598 thousand for the same period in 2025 . The Adjusted EBITDA margin was 0.8% for the three months ended March 31, 2026, compared to -3.7% in the prior-year period . This marked the second consecutive quarter of positive Adjusted EBITDA and an improvement of $1.9 million or 450 basis points year-over-year .

Net Loss

Net Loss was $1.0 million, compared to a Net Loss of $3.5 million in the same period last year . Specifically, Net Loss was - $1,009 thousand for the three months ended March 31, 2026, compared to - $3,547 thousand for the same period in 2025 . The Net Loss margin was -2.8% for the three months ended March 31, 2026, compared to -8.1% in the prior-year period .

Gross Margin and Gross Profit

Gross Margin was 54.8%, an increase of 180 basis points compared to 53.0% in the first quarter of 2025 . Gross profit was $19,855 thousand for the three months ended March 31, 2026, compared to $23,064 thousand for the same period in 2025 .

Operating Expenses

Operating Expenses were $20.8 million, a decrease of 21.9% compared to $26.6 million in the prior-year period . Advertising expenses were $1,162 thousand for the three months ended March 31, 2026, compared to $2,807 thousand for the same period in 2025 . Product development expenses were $1,435 thousand for the three months ended March 31, 2026, compared to $1,779 thousand for the same period in 2025 . Selling, general and administrative expenses were $18,159 thousand for the three months ended March 31, 2026, compared to $21,986 thousand for the same period in 2025 .

Operating Loss

Operating loss was - $901 thousand for the three months ended March 31, 2026, compared to - $3,508 thousand for the same period in 2025 .

Operating Cash Flow

Operating Cash Flow was negative $0.7 million, compared to negative $6.9 million in the same period last year . Net cash used in operating activities was - $683 thousand for the three months ended March 31, 2026, compared to - $6,872 thousand for the same period in 2025 .

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 . Specifically, cash, cash equivalents and restricted cash at the end of the period were $10,427 thousand as of March 31, 2026, compared to $11,792 thousand at the beginning of the period .

Debt

Grove Collaborative Holdings, Inc. had outstanding debt of $7.5 million ABL and ABL availability of $1.7 million .

Direct to Consumer (DTC) Metrics

DTC Total Orders were 502,000, a decline of 19.2% year-over-year . DTC Active Customers totaled 553,000 as of March 31, 2026, a decrease of 18.5% year-over-year . DTC Net Revenue Per Order was $67.79, an increase of 2.0% year-over-year .

Plastic Intensity

Plastic Intensity was 0.84 pounds in the first quarter of 2026, an improvement from 0.99 pounds in the first quarter of 2025 .

Outlook / Guidance

For the full-year 2026, Grove Collaborative Holdings, Inc. is raising its net revenue guidance to approximately $142.5 million to $152.5 million, and Adjusted EBITDA guidance to breakeven to positive low single digit millions . This represents an increase from the prior net revenue range of $140 million to $150 million and the prior Adjusted EBITDA expectation of approximately breakeven . The company expects sequential net revenue improvement in each of the remaining three quarters of 2026, following the first quarter of 2026 which represented the expected trough for the year .