Grove Collaborative Reports First Positive GAAP Net Income in Q3 2026
Grove Collaborative Holdings, Inc. (GROV) reported a significant financial milestone in its third quarter 2026 results, achieving positive GAAP net income of $0.1 million and positive adjusted EBITDA of $1.4 million for the first time as a public entity. While net revenue declined 15.8% year-over-year to $36.8 million, the company saw a slight sequential increase from the previous quarter and improved gross margins to 55.8%. The decline in revenue was primarily attributed to a 30.6% drop in direct-to-consumer (DTC) active customers, resulting from reduced advertising spend and lingering effects of platform disruptions experienced in 2025. Despite these headwinds, management successfully lowered operating expenses by over 22%, driven by reductions in personnel and shipping costs. The company has narrowed its full-year 2026 revenue guidance to a range of $144 million to $146 million.
Tickers: $GROV
Topics: Adjusted EBITDA DTC Customers GAAP Net Income Gross Margin Net Revenue
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