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what it is
Grove sells household and personal care products online for people who want less plastic, cleaner ingredients, and fewer guilt spirals at checkout.
how it gets paid
Last year Grove Collaborative made $174M in revenue. household cleaning was the main engine at $66M, or 38% of sales.
why growth slowed
Revenue fell 14.6% last year. 53.9% gross margin matters most because it says the products are not the issue.
what just happened
Revenue hit $131M, but Grove still posted a loss and its annual sales base kept shrinking.
At a glance
C+ balance sheet — struggling to keep the lights on
-$0.76 fy2024 eps est
$203M fy2024 rev est
6.5% operating margin
0.8 beta
xvary composite: 29/100 — weak
What they do
Grove sells household and personal care products online for people who want less plastic, cleaner ingredients, and fewer guilt spirals at checkout.
Grove's edge is trust and curation, not scale. Gross margin was 53.9% in the latest quarter (gross margin → money left after product costs → room to pay for marketing and still survive), which is high for a retailer. If your sink soap, laundry pods, and shampoo all come from one box you already trust, changing stores feels like adding errands to your life.
How they make money
$174M
annual revenue · their business grew -14.6% last year
household cleaning
$66M
personal care
$44M
beauty
$31M
home and kitchen
$19M
other wellness and pantry
$14M
The products that matter
online household and personal care retail
Grove.co marketplace
$173.7M full-year 2025 revenue
this storefront carries the whole business today. full-year revenue was $173.7M, and Q4 dropped 14.3% from last year to $42.4M.
entire revenue base
owned and curated sustainable brands
household + beauty assortment
53.9% gross margin
the pitch is cleaner products with better unit economics. the numbers say margin held, but annual revenue still fell 14.6%. brand promise alone is not fixing demand.
margin helps, demand decides
strategic review optionality
partnership or M&A process
$54M market cap
management is reviewing strategic alternatives on a company worth about $54M. that is not a product line, but it is part of the current investment case because the operating story is still thin.
optionality, not proof
Key numbers
53.9%
gross margin
That is high for retail. Gross margin → money left after product costs → so what: Grove has room to work with if it can control overhead.
$174M
ttm revenue
This is the real size of the business today, and it was down 14.6% vs. prior year.
6.5%
operating margin
Operating margin → profit after running the company → so what: Grove still loses money on the full business, not just on paper.
$17M
long-term debt
Debt is manageable in absolute dollars, but large next to a roughly $54M market cap.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 10 / 100
- long-term debt $17M (24% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GROV right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $131M, but Grove still posted a loss and its annual sales base kept shrinking.
The latest reported quarter showed a sharp revenue jump, but SEC-backed annual figures show TTM revenue of $174M, down 14.6% vs. prior year. Gross margin stayed strong at 53.9%, which means the real problem is overhead, not product economics.
$131M
revenue
-$0.29
eps
53.9%
gross margin
the number that mattered
53.9% gross margin matters most because it says the products are not the issue; the company still needs to fix the cost structure.
source: company earnings report, 2026
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What could go wrong
the top risk is another year of revenue contraction at Grove's core online retail business.
high
sales keep falling
Q4 2025 revenue fell 14.3% from last year to $42.4M. 2026 guidance of $140M–$150M points to another step down from $173.7M.
At the low end of guidance, the business would lose about $33.7M of revenue in one year. That is a big cut for a company with a $54M market cap.
high
breakeven adjusted EBITDA is not full profitability
Management is targeting about breakeven adjusted EBITDA in 2026. That metric strips out interest, taxes, depreciation, and amortization, so it is a cleaner operating view, not proof that the whole company earns money.
If the company hits that target but cash still leaves the business, the stock can stay cheap for a reason.
med
balance sheet room is limited
The page shows a C+ balance sheet, $17M in long-term debt, and a risk rank of 5. That is not a bankruptcy call. It is a warning that more misses leave less flexibility.
Turnarounds need time. Weak balance sheets shorten the clock.
med
the strategic review produces nothing
Partnership or M&A talk helps the story because the operating numbers are weak. If that process ends without a transaction or a strong partner, you are back to judging the stock on shrinking revenue alone.
Optionality disappears fast when no buyer shows up.
The combined risk picture is simple: Grove needs shrinking losses to outrun shrinking revenue, and 2026 guidance says the revenue problem is still live.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
Q1 2026 earnings report
Management says this quarter should mark the revenue trough before sequential improvement. If that does not happen, the turnaround script needs a rewrite.
trend
whether the 14.3% sales drop narrows
One better quarter does not fix the story, but you need the decline rate to get smaller before the market pays up for the stock.
metric
adjusted EBITDA versus actual cash reality
Breakeven adjusted EBITDA is the headline target. Your job is to check whether that progress shows up beyond the adjusted line.
risk
any update on strategic alternatives
A partner or buyer changes the conversation. Silence keeps the focus on a business guiding to $140M–$150M of revenue.
Analyst rankings
risk profile
high risk
risk rank 5 — significant risk of large drawdowns.
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for GROV is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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