Grove Collaborative Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 11, 2022 at 04:05 pm EDT
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Grove Collaborative Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 79.28 million compared to USD 99.02 million a year ago. Net loss was USD 35.31 million compared to USD 28.52 million a year ago. Basic loss per share from continuing operations was USD 1.06 compared to USD 3.97 a year ago.
For the six months, sales was USD 169.76 million compared to USD 201.24 million a year ago. Net loss was USD 82.69 million compared to USD 66.41 million a year ago. Basic loss per share from continuing operations was USD 3.86 compared to USD 9.13 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.
GROVE COLLABORATIVE HOLDINGS, INC. 
