By Daniella Parra
Grove Collaborative Holdings, Inc. (NYSE: GROV) said second quarter revenue reached $44.0 million, down 15.5% year-over-year but up 1.1% from the prior quarter.
The company posted a net loss of $3.6 million, compared to net loss of $10.1 million in same period last year and adjusted EBITDA of $(0.9) million, compared to $1.1 million last year.
Gross Margin was 55.4%, an improvement of 150 basis points, Grove said.
“At Grove, we remain focused on building the leading marketplace of curated, clean and sustainable products for conscientious consumers—a platform defined by trust, rigorous standards, and a deep commitment to sustainability and personal wellness,” Jeff Yurcisin, Chief Executive Office of Grove Collaborative, said. “While the second quarter brought both progress and setbacks as we navigated challenges from our eCommerce platform migration, we saw encouraging signs of recovery, including sequential revenue and order growth.”
See More: Abacus Global Management Delivers Strong Q2 Earnings, Upgrades FY Outlook
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