GROV - Grove Collaborative Holdings GAAP EPS of -$0.32 misses by $0.01 revenue of $66.12M beats by $2.68M
2023-08-14 16:44:11 ET
- Grove Collaborative Holdings press release ( NYSE: GROV ): FQ2 GAAP EPS of -$0.32 misses by $0.01 .
- Revenue of $66.12M (-16.6% Y/Y) beats by $2.68M .
- Shares +15.98% .
- Announces leadership changes; Jeff Yurcisin appointed new CEO; Stuart Landesberg to become Executive Chairman; John Replogle to become lead independent director
- Announces $10 million investment from Volition Capital
- Larry Cheng, Managing Partner of Volition Capital, Board Member at GameStop and Former Board member at Chewy, to join Grove’s Board of Directors
- Introduces new Growth and Market Expansion Initiative
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For the 12-month period ending December 31, 2023, we expect:
- Net revenue of $260.0 to $270.0 million.
- Adjusted EBITDA margin (1) of (5.0)% to (7.0)%, an improvement from (5.5)% to (7.5)%
For further details see:
Grove Collaborative Holdings GAAP EPS of -$0.32 misses by $0.01, revenue of $66.12M beats by $2.68M