2023 Q1 Form 10-Q Financial Statement

#000184176123000047 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $71.57M $0.00
YoY Change
Cost Of Revenue $34.31M $47.74M
YoY Change -28.13% -4.57%
Gross Profit $37.26M $42.74M
YoY Change -12.83% -18.12%
Gross Profit Margin 52.06%
Selling, General & Admin $38.02M $83.76M
YoY Change -54.61% 0.71%
% of Gross Profit 102.06% 196.0%
Research & Development $4.216M $6.240M
YoY Change -32.44% 20.88%
% of Gross Profit 11.32% 14.6%
Depreciation & Amortization $1.448M $1.410M
YoY Change 2.7% 25.0%
% of Gross Profit 3.89% 3.3%
Operating Expenses $42.24M $1.008M
YoY Change 4089.97% 3584.39%
Operating Profit -$13.66M $41.73M
YoY Change -132.72% -152640.39%
Interest Expense $3.729M -$22.54M
YoY Change -116.54% 10772.51%
% of Operating Profit -54.03%
Other Income/Expense, Net $596.0K $0.00
YoY Change -100.0%
Pretax Income -$13.06M -$23.55M
YoY Change -44.55% 3116.02%
Income Tax $10.00K $23.00K
% Of Pretax Income
Net Earnings -$13.07M -$23.55M
YoY Change -44.51% 3116.02%
Net Earnings / Revenue -18.26%
Basic Earnings Per Share -$0.08 -$5.05
Diluted Earnings Per Share -$0.08 -$468.1K
COMMON SHARES
Basic Shares Outstanding 168.7M shares 9.387M shares
Diluted Shares Outstanding 168.7M shares 9.387M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.65M $79.82K
YoY Change 102196.42% -94.4%
Cash & Equivalents $81.70M $74.43M
Short-Term Investments
Other Short-Term Assets $11.66M $615.3K
YoY Change 1794.3% -50.55%
Inventory $40.93M $50.56M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $134.2M $695.1K
YoY Change 19211.07% -73.95%
LONG-TERM ASSETS
Property, Plant & Equipment $13.85M $36.57M
YoY Change -62.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.817M $402.6M
YoY Change -99.3% 15.02%
Total Long-Term Assets $31.34M $402.6M
YoY Change -92.21% 15.43%
TOTAL ASSETS
Total Short-Term Assets $134.2M $695.1K
Total Long-Term Assets $31.34M $402.6M
Total Assets $165.6M $403.3M
YoY Change -58.94% 14.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.29M $31.82M
YoY Change -61.37%
Accrued Expenses $13.97M $2.815M
YoY Change 396.19% 122.2%
Deferred Revenue $9.152M
YoY Change
Short-Term Debt $0.00 $1.000M
YoY Change -100.0%
Long-Term Debt Due $340.0K $16.72M
YoY Change -97.97%
Total Short-Term Liabilities $40.08M $3.847M
YoY Change 941.96% 203.64%
LONG-TERM LIABILITIES
Long-Term Debt $69.05M $0.00
YoY Change
Other Long-Term Liabilities $28.75M $50.01M
YoY Change -42.5% 65.4%
Total Long-Term Liabilities $69.05M $50.01M
YoY Change 38.08% 65.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.08M $3.847M
Total Long-Term Liabilities $69.05M $50.01M
Total Liabilities $137.9M $53.85M
YoY Change 156.03% 79.24%
SHAREHOLDERS EQUITY
Retained Earnings -$590.9M
YoY Change
Common Stock $18.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.70M -$498.9M
YoY Change
Total Liabilities & Shareholders Equity $165.6M $403.3M
YoY Change -58.94% 14.75%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$13.07M -$23.55M
YoY Change -44.51% 3116.02%
Depreciation, Depletion And Amortization $1.448M $1.410M
YoY Change 2.7% 25.0%
Cash From Operating Activities -$6.737M -$427.4K
YoY Change 1476.24% 8448.2%
INVESTING ACTIVITIES
Capital Expenditures $784.0K -$1.352M
YoY Change -157.99% 7.13%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$784.0K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $235.0K $275.0K
YoY Change -14.55%
Cash From Financing Activities $1.990M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$6.737M -427.4K
Cash From Investing Activities -$784.0K 0.000
Cash From Financing Activities $1.990M 0.000
Net Change In Cash -$5.531M -427.4K
YoY Change 1194.07% -130.0%
FREE CASH FLOW
Cash From Operating Activities -$6.737M -$427.4K
Capital Expenditures $784.0K -$1.352M
Free Cash Flow -$7.521M $924.6K
YoY Change -913.44% -26.44%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90454000 usd
CY2023Q1 grov Proceeds From Issuance Of Redeemable Convertible Common Stock
ProceedsFromIssuanceOfRedeemableConvertibleCommonStock
0 usd
CY2022Q1 grov Proceeds From Issuance Of Redeemable Convertible Common Stock
ProceedsFromIssuanceOfRedeemableConvertibleCommonStock
27500000 usd
CY2023Q1 grov Payment Of Transaction Costs Reverse Recapitalization
PaymentOfTransactionCostsReverseRecapitalization
4150000 usd
CY2022Q1 grov Payment Of Transaction Costs Reverse Recapitalization
PaymentOfTransactionCostsReverseRecapitalization
489000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
7500000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
837000 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
235000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
275000 usd
CY2023Q1 grov Proceeds From Issuance Of Shares Payments Of Tax Withholding Share Based Payment Arrangement
ProceedsFromIssuanceOfSharesPaymentsOfTaxWithholdingShareBasedPaymentArrangement
-288000 usd
CY2022Q1 grov Proceeds From Issuance Of Shares Payments Of Tax Withholding Share Based Payment Arrangement
ProceedsFromIssuanceOfSharesPaymentsOfTaxWithholdingShareBasedPaymentArrangement
171000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1990000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
26907000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5531000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3948000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74428000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
21000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
2734000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1461000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
113000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
286000 usd
CY2023Q1 grov Adjustments To Additional Paid In Capital Reduction Of Transaction Costs
AdjustmentsToAdditionalPaidInCapitalReductionOfTransactionCosts
9609000 usd
CY2022Q1 grov Adjustments To Additional Paid In Capital Reduction Of Transaction Costs
AdjustmentsToAdditionalPaidInCapitalReductionOfTransactionCosts
0 usd
CY2023Q1 grov Transaction Costs Incurred But Not Yet Paid
TransactionCostsIncurredButNotYetPaid
0 usd
CY2022Q1 grov Transaction Costs Incurred But Not Yet Paid
TransactionCostsIncurredButNotYetPaid
2582000 usd
CY2023Q1 grov Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
0 usd
CY2022Q1 grov Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
125000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81653000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
74428000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8801000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90454000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74428000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
Description of Business<div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Grove Collaborative Holdings, Inc., a public benefit corporation, (formerly known as Virgin Group Acquisition Corp. II, or “VGAC II”) and its wholly owned subsidiaries (collectively, the “Company” or “Grove”) is a digital-first, sustainability-oriented consumer products innovator specializing in the development and sale of household, personal care, beauty and other consumer products with an environmental focus and headquartered in San Francisco, California. In the United States, the Company sells its products through two channels: a direct-to-consumer (“DTC”) platform at www.grove.co and the Company’s mobile applications, where the Company sells products from Grove-owned brands (“Grove Brands”) and third-parties, and the retail channel into which the Company sell products from Grove-owned brands at wholesale. The Company develops and sells natural products that are free from the harmful chemicals identified in the Company’s “anti-ingredient” list and designs form factors and product packaging that reduces plastic waste and improves the environmental impact of the categories in which the Company operates. The Company also purchases environmental offsets that have made it the first plastic neutral retailer in the world. Grove Collaborative, Inc. (herein referred to as “Legacy Grove”), the Company’s accounting predecessor, was incorporated in Delaware in 2016.</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:27pt"><span><br/></span></div><div style="padding-left:18pt;text-align:justify;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 16, 2022 (the “Closing Date”), the Company consummated the previously-announced transactions contemplated by the Agreement and Plan of Merger, dated December 7, 2021, amended and restated on March 31, 2022 (the “Merger Agreement”), among Virgin Group Acquisition Corp. II, a blank check company incorporated as a Cayman Islands exempt company in 2020 (“VGAC II”), Treehouse Merger Sub, Inc. (“VGAC II Merger Sub I”), Treehouse Merger Sub II, LLC (“VGAC II Merger Sub II”), and Legacy Grove (“the Merger”). In connection with the Merger, VGAC II changed its jurisdiction of incorporation from the Cayman Islands to the State of Delaware and changed its name to Grove Collaborative Holdings, Inc (the “Domestication”), a public benefit corporation. On the Closing Date, VGAC Merger Sub II merged with and into Legacy Grove with Legacy Grove being the surviving corporation and a wholly-owned subsidiary of the Company (the “Initial Merger”), and, immediately following the Initial Merger, and as part of the same overall transaction as the Initial Merger, Legacy Grove merged with and into VGAC Merger Sub II, the separate corporate existence of Legacy Grove ceased, and Merger Sub II continued as the surviving company and a wholly-owned subsidiary of the Company and changed its name to Grove Collaborative, Inc.(together with the Merger and the Domestication, the “Business Combination”).</span></div><div style="text-align:justify;text-indent:45pt"><span><br/></span></div><div style="padding-left:18pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Business Combination is accounted for as a reverse recapitalization with Legacy Grove being the accounting acquirer and VGAC II as the acquired company for accounting purposes. Accordingly, all historical financial information presented in the unaudited condensed consolidated financial statements represents the accounts of Legacy Grove. The shares and net loss per common share prior to the Closing have been retroactively restated as shares reflecting the exchange ratio established in the Closing.</span></div><div style="margin-top:12pt;padding-left:18pt;text-align:justify;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the Business Combination, VGAC II’s public shares, and public warrants were listed on the New York Stock Exchange (“NYSE”) under the symbols “VGII” and “VGII.WS,” respectively.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 17, 2022, the Company's Class A common stock and public warrants began trading on (“NYSE”), under the symbols “GROV” and “GROV.WS,” respectively. See Note 7,</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Common Stock and Warrants</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for additional details.</span></div>
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-590900000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81700000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. These estimates made by management include the determination of reserves amounts for the Company’s inventories on hand, useful life of intangible assets, sales returns and allowances and certain assumptions used in the valuation of equity awards, the estimated fair value of common stock liability classified Public and Private Placement Warrants, the fair value of Earn-Out liabilities, the fair value of Additional Shares liabilities, the fair value of the Structural Derivative Liability and stock based compensation expense. Actual results could differ from those estimates, and such estimates could be material to the Company’s financial position and the results of operations.</span></div>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Risks</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. The Company maintains the majority of its cash, cash equivalents and restricted cash in accounts with one financial institution within the United States, generally in the form of demand accounts. Deposits in this institution may exceed federally insured limits. Management believes minimal credit risk exists with respect to this financial institution and the Company has not experienced any losses on such amounts.</span></div>
CY2023Q1 grov Revenue From Contract With Customer Complementary Membership Period
RevenueFromContractWithCustomerComplementaryMembershipPeriod
P60D
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
71565000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90479000 usd
CY2023Q1 grov Fulfillment Costs
FulfillmentCosts
17000000 usd
CY2022Q1 grov Fulfillment Costs
FulfillmentCosts
24400000 usd
CY2023Q1 grov Inventory Purchases Current
InventoryPurchasesCurrent
2530000 usd
CY2022Q4 grov Inventory Purchases Current
InventoryPurchasesCurrent
2757000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2861000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1714000 usd
CY2023Q1 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
1020000 usd
CY2022Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
1203000 usd
CY2023Q1 grov Accrued Fulfillment Costs Current
AccruedFulfillmentCostsCurrent
1335000 usd
CY2022Q4 grov Accrued Fulfillment Costs Current
AccruedFulfillmentCostsCurrent
1725000 usd
CY2023Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1509000 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1374000 usd
CY2023Q1 grov Transaction Costs Current
TransactionCostsCurrent
0 usd
CY2022Q4 grov Transaction Costs Current
TransactionCostsCurrent
17500000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4712000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5081000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13967000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
31354000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
69389000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
61195000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
340000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
575000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
69049000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
60620000 usd
CY2023Q1 grov Fair Value Adjustment Of Derivative Instrument
FairValueAdjustmentOfDerivativeInstrument
600000 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
15300000 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
18700000 usd
CY2022Q2 grov Reverse Recapitalization Percentage Of Voting Interests Acquired
ReverseRecapitalizationPercentageOfVotingInterestsAcquired
1
CY2022Q2 grov Proceed From Issuance Of Common Stock Reverse Recapitalization
ProceedFromIssuanceOfCommonStockReverseRecapitalization
97100000 usd
CY2022Q2 grov Reverse Recapitalization Transaction Costs
ReverseRecapitalizationTransactionCosts
24400000 usd
CY2022Q4 grov Transaction Costs Current
TransactionCostsCurrent
17500000 usd
CY2023Q1 grov Increase Decrease In Accrued Transaction Costs Current
IncreaseDecreaseInAccruedTransactionCostsCurrent
-13400000 usd
CY2023Q1 grov Increase Decrease To Other Nonoperating Income Expense
IncreaseDecreaseToOtherNonoperatingIncomeExpense
3800000 usd
CY2023Q1 grov Adjustments To Additional Paid In Capital Reduction Of Transaction Costs
AdjustmentsToAdditionalPaidInCapitalReductionOfTransactionCosts
9600000 usd
CY2023Q1 grov Shares Issued Shares Derivative Instrument Contingent Consideration Canceled
SharesIssuedSharesDerivativeInstrumentContingentConsiderationCanceled
985722 shares
CY2022Q2 grov Reverse Recapitalization Contingent Consideration Earnout Period
ReverseRecapitalizationContingentConsiderationEarnoutPeriod
P10Y
CY2022Q4 grov Consulting Fee Expense
ConsultingFeeExpense
150000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10521571 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y10M13D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
61000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
178564 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.38
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
170516 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.82
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10172491 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.59
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
98000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
9040393 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.32
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y6M29D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
98000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
100000 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
4400000 usd
CY2023Q1 grov Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableAggregateIntrinsicValue
0 usd
CY2022Q1 grov Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableAggregateIntrinsicValue
400000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4900000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4500000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
28600000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
72435528 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
148393189 shares

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
grov-20230331_def.xml Edgar Link unprocessable
0001841761-23-000047-index-headers.html Edgar Link pending
0001841761-23-000047-index.html Edgar Link pending
0001841761-23-000047.txt Edgar Link pending
0001841761-23-000047-xbrl.zip Edgar Link pending
exhibit1032groveformofperf.htm Edgar Link pending
exhibit1034structural-amen.htm Edgar Link pending
exhibit311q12023.htm Edgar Link pending
exhibit312q12023.htm Edgar Link pending
exhibit321q12023.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
grov-20230331.htm Edgar Link pending
grov-20230331.xsd Edgar Link pending
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grov-20230331_cal.xml Edgar Link unprocessable
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grov-20230331_htm.xml Edgar Link completed
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