GROV - GAAP EPS of -$0.08 in-line revenue of $71.57M beats by $2.24M
2023-05-11 16:58:19 ET
- press release ( NYSE: GROV ): GAAP EPS of -$0.08 in-line.
- Revenue of $71.57M (-20.9% Y/Y) beats by $2.24M .
- Shares -0.83% .
- “The progress we have made in improving operating efficiencies and reducing expenses gives us the confidence to increase our adjusted EBITDA margin guidance for fiscal 2023, despite continued challenges in the macroeconomic environment. This is a result of durable improvements in our gross margin profile along with exceptional efforts to execute our full P&L value creation plan,” stated Sergio Cervantes, Chief Financial Officer of Grove.
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For the 12-month period ending December 31, 2023, we expect:
- Net revenue of $260.0 to $270.0 million, vs. $268.21M consensus.
- Adjusted EBITDA margin (1) of (5.5)% to (7.5)%, up from (9)% to (11)% previously
For further details see:
GAAP EPS of -$0.08 in-line, revenue of $71.57M beats by $2.24M